Selling C and F After 2020

[vic120]

Ihave a 20 year veteran med supp agent and we get along just fine.

That's because instead of calling him, You bring it all here

 

[LostDollar]

That's because instead of calling him, You bring it all here

Best bacon info on the internet.

 

[LostDollar]

Mr. Liddy?

He probably works for a big firm that doesn't take Medicare clients.

 

[Yagents]

You need income to file taxes, and at a10% tax bracket, if that, the savings is peanuts on $2k contribution.

Best advice yet. Go call your agent. We dont get enough commish to deal with u. But, neither does your agent.

Let us pray for him

 

[LostDollar]

It still wouldn't be that much savings per year for anyone to worry about. Not only that, but you would be pulling it out constantly, so no company would really be making any money to speak of. Just not worth it.

Todd, you are still missing the point of what I'd like to see accomplished. Since you want me gone, I'm figuring you don't care, but if you are interested I can provide more explanation. (Just not sure how fast, this phone typing is difficult.)

 

[Todd King]

I thought it was quite simple. You want a savings vehicle that is tax free that you can use for deductibles and copays with your Supp. As I and Yagents have said....not worth it.

 

[7Natives]

You want a savings vehicle that is tax free that you can use for deductibles and copays with your Supp.

Sort of. OP said he wants an HSA-type account for use with A/B/D -- not for use with a supplemental plan. That would be all Uncle Sam and that appears to be where all the dust-up is coming from. Well, that and this…

LD: Ad hominum attacks are not the way to exchange information or ideas.​

TK and all the other agents here: Thank you for participating in this forum and allowing non-agents to read your posts. As a newly-65 consumer in CA, I have found reviewing the information here informative. Seeing what the agents (here) go through, and how they reach their conclusions and models has been extremely helpful.

At some point your clients also need to understand the reason for insurance: To offset risk. They are paying somebody else to absorb their risk. The insurer is selling puts against life events. What good is saving $300 if the SHTF and you're out $10,000? Well, if you don't have that extra $300 it's real good! BK exists for a reason. But if you do have that extra $300 you're penny-wise and pound-foolish to make that trade.

OK, so that takes out some plans like K & L and maybe Fh. Why Maybe? Because these plans do not cover the health care services I mostly consume, e.g., chiropractic, homeopathic, and dental. I can still pay for these from my HSA/MSA — for now. Of course that negates the idea of banking the deductible, but at least I get to use pre-tax dollars.

For many who have never had to actually p-a-y for their own healthcare b/c they've always had some sort of insurance to offset the costs, they have no clue how much it really costs in these United States to get sick or injured. None. They also don't know the freedom of choosing what and who you find works best for you without a nanny calling the shots.

I finally had to put together a spreadsheet to compare these Medicare things, not because I don't like agents but because I don't like ignorance — especially my own! After doing that, and scouring Medicare.gov, and finding there are a very limited number of companies serving my locale (thank you, Mr. Obama) I ended up with some pretty basic *choices:

I can save about $610 in premiums in a year high-low. Any part or portion of one day in the hospital here and that savings just disappeared. I travel outside the US and while I usually insure, I don't always. So that's kind of important to me. So N is nice, but maybe not so nice. I have a lot more dead friends than live ones. Accidents do happen, as do strokes, heart attacks, crime, wars, etc. I can do math. Part B Excess can be rather nasty. That's real important to me. Goodbye C and K-N. Now I'm down to F, Fh, and G.

Only 5 companies cover my area for supplementals of any sort. No MSAs offered here. Anthem, Universal Care dba: Brand New Day, Humana, Health Net, and UHC-AARP.

• My hi-low spread F:G is $380 (Anthem / HealthNet);
• HealthNet likes me to use their people, of whom there are not all that many, or none, in the places I most frequent. Not so good;
• Anthem's spread F:G is $93 -- for the whole year. That is one dinner out for two people at a decent mid-scale but not particularly upscale chain restaurant like Olive Garden or Tahoe Joe's;
• Anthem also has this "Innovative F". It has some gotchas all its own like birthday rules or whatever, but it includes vision and hearing. Now I've been paying my own healthcare since 1987, and paying up to $28,000/yr for health insurance w/ thousands deductible. (Family of 5, my RA (1987 onset) is the driver even though no meds or visits for DECADES.) So I know for fact a single visit to my optometrist for simple checkup and no glasses is $110; and finally
• I have no idea who this UC-Brand New Day outfit is but they may cover some of more routine costs.

Net-net, it is cheaper for me to get Anthem's Innovative F than their G, by about $27. Gee, a few of us can eat at Carl's! (Hardy's for y'all east of the Left Coast DPR of CA.)

Now, is Anthem better than HealthNet? UC & HealthNet are unknowns to me. They're all HMOs. Will they pay? I don't know, I have no clue! That's why I'll be talking to my agent, but it will be an informed conversation and I will be seeking the information that his training and experience have wrought. And he will write my policy and make the commissions and God bless him b/c that training and experience has real actual dollar value.

*At least I had choices. After killing our insurance (here) with Covered CA, we were finally reduced to having only ONE carrier — which was a lot better than the places that had z-e-r-o.

 

[DS4]

Net-net, it is cheaper for me to get Anthem's Innovative F than their G, by about $27.

Cheaper for Anthem Innovative Plan F for only one year. After the first year -$20 discount wares off, then boom! Look at United Healthcare Plan F. You will pay a little more premium the first year, then, the savings will start each year thereafter. Ask your agent how much Anthem Innov Plan F is the second year.

 

[sshafran]

I would like to see some kind of tax free savings vehicle that over 65s could use to save for med supp deductible expenses.

Are there additional types of plans you think wold be useful? It seems like there is a pretty wide range of options already.

We would like to see you leave the forum.

Can't believe this guy wants a tax-free savings account to contribute to, to go along with Hi-F, K, or L med supps.

Anything else we can randomly discuss and potentially create for you?

Ah, yes. Let's set up a tax-free savings account for your Part D deductibles and copays. After all, I hear that people can sometimes barely afford their metformin. Good thing LD isn't a govt employee - he'd be setting up a gofundme to pay his Hi-F premium of $32.96 and $3 metformin copays during the shut down and asking CNN to interview him because of his hardship.

What a waste of time.

 

[7Natives]

Cheaper for Anthem Innovative Plan F for only one year. After the first year -$20 discount wares off, then boom! Look at United Healthcare Plan F. You will pay a little more premium the first year, then, the savings will start each year thereafter. Ask your agent how much Anthem Innov Plan F is the second year.

Thanks for the tip!

I'm setting up an appointment to see my agent today. BTW, I ran all my calculations without the $240/yr-1st yr discount, but included Anthem's $48/yr discount for full year pay up front. I missed their $25 deductible on that vision thing though until I got a copy of their evidence of insurance and their full benefits-exclusions. (Ugh)

I am really looking forward to seeing my guy who actually makes his living from this stuff so I can go back to having a life!