Scoping out the competition

Feb 6, 2008

  1. somarco
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    somarco That Medicare Guy

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    I went to an Aetna meeting this AM, expecting new things. Instead it was a rehash of the old stuff and promises of "new things but I can't tell you yet" teasers.

    I left after an hour.

    But while I was there I was reminded of why it is sometimes good to go to these meetings. You get to scope out your competitors and here them make comments like this.

    "What does your dental plan pay for AMALGRAM (pronounced like anagram) filling?"

    "How does Aetna treat CREDIBLE coverage?"

    "Why is your HDHP product so much more expensive than a copay plan with the same deductible?"

    "My clients can't afford a HDHP with a $3,000 deductible. When are you going to offer one at $1500?"

    "Your $30 copays are too high. Coventry offer $20 copays. Why can't you do like they do?"

    "I can't sell your plan because it doesn't have an ER benefit like Blue Cross."

    Aetna is not a major player in GA, and I don't expect they will be changing that any time soon. But it is refreshing to know just how uninformed many of the agents were in that room.

    Many of them could not spell HSA if you spotted them the first 2 letters.

    "
     
    somarco, Feb 6, 2008
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  2. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    Hehehe Bob, great story.

    I stopped goin' to 'em about two years ago. Was sittin' in one over by the airport when I came to the realization it was targeted at an audience of a
    lower sophistication level.

    When you know more than the presenter about their own products....

    The danish were good though.
     
  3. somarco
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    somarco That Medicare Guy

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    Most of the time it is a waste of time, but I do try to go to product roll out's.

    That's how I "discovered" Coventry and the new Humana plans last year.

    The guy doing the presentation is amazing. I have known him for maybe 10 years. During that time he has been a "manager" with at least 5 carriers.

    He is one of those guys who doesn't know squat but always manages to get a good job.

    Some of the questions from the audience were rudimentary, but he kept saying he would have to get back with you on that.

    Of all the statements coming from agents, I still remember one from probably 20 years ago. This guy had been in the business about 25 years at the time and was a brokerage manager for Willis (the benefits side). He was looking for a carrier to take on a group which included a kid with cystic fibrosis.

    I told him that carriers will take a hard look at the claims and may refuse to bid. (It was a small group and this was pre-HIPAA).

    His response was that he knows the kid and the kid looks fine. In fact, he was certain the kid no longer had CF.

    Must have been one of those miracle, healing services . . .
     
    somarco, Feb 6, 2008
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  4. warrenins
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    warrenins Super Genius

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    Thanks for the info Somarco. I'm also here in Atl but the majority of my business is group and commercial. Aetna sent me the invite for the meetings, I decided I wasn't going to go. It's good to hear I didn't miss anything really exciting LOL
     
  5. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    "Must have been one of those miracle, healing services . . ."


    Laying on of hands by Benny Hinn, or one of his ilk?
     
  6. Crabcake Johnny
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    Crabcake Johnny Guru

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    You had agents show up? Aetna had a meeting in Baltimore over a year ago. 4 people showed, bitched about the plans/pay - I left with a pack of specialty coffees and a pen.
     
  7. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    What kind of coffee?
     
  8. Crabcake Johnny
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    Crabcake Johnny Guru

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    It was embarrassing for the rep - I felt bad for her. They had about 20 things to give away so obviously they expected a big turn-out. 4 posted.

    Coffee was great though - a box of those little mini multi-flavored packs.
     
  9. faxoflife
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    faxoflife New Member

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    I was in a meeting like this just last week. Promises given about a new offering available in a month, but a rehash of what we have now. It was amazing to me that Mr. Sellsalot did not know beans about the plans we have now. What must his presentations be like and does he use a chain with an entrancing charm dangling from the end?
     
  10. salpro22
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    salpro22 Guru

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    This is the only question that caught me off guard. That comment doesn't make any sense unless Aetna is pricing both plans in a similar fashion.