Senior Insurance Savvants Help

[alphawave2k]

Somebody help me unravel the following. This is still a new area for me, so please just be helpful with your repies so those who don't have the same level of knowledge and experience can learn.
I just talked to a 68 year old who had both Medicare A&B and a group major med plan that was terminated end of October. He inquired into getting COBRA, but so far no one replied to him...he says.
Here are my questions and the lesson part.
1. Could he have waited to sign up for Medicare since he had prior creditable coverage and saved himself the monthly part B premium, then later signing on without a penalty when his group coverage was terminated?
2. From what I know, this man should not even remotely be thinking of COBRA. Either he should be on a Medigap or MA plan...his choice once he knows the pluses and minuses, which is what I'm planning on explaining when I see him.
3. What if any penalties or potential date lapses, and risks in general does someone in his position need to be aware of?
4. Any other tid-bits someone wants to chime in with regarding this type of scenario? It sounded as if he was in fairly decent health, based on what he told me and the fact he was actually working.
I have read a lot of information on the senior market, but sometimes it's kind of a blur. I am in the middle of certifying with yet one other company that sells SNPs for chronically ill folks on Medicare and/or Medicaid year round from Care Improvement Plus, and it's tied up the last little bit of brain power I have left for now.
Thanks

 

[MrMack]

He would normally have 63 days from date of termination to sign up for insurance with 0 questions asked. If he misses that date then he would have to answer all questions on med supp app.

 

[G.Gordon]

1. Maybe. It depends on the size of the group as to how Medicare acts in addition to "other" coverage. There is a very helpfull diagram of this in the CMS guide on medsupps. Certain size groups the "insurance" is primary and others Medicare is primary.
2. I agree. No cobra. He's GI for a medsupp and of course MAPDs as well.
3. He'll have no penalties, but should be proactive getting a creditable coverage letter back to either 1/1/2006 or when he became eligible for part B. If he waits longer than 63 days from the time his coverage termed the GI medsupp rule goes out the window.

CIP, IMO, is a worthless POS. They've pulled out of several markets, cancelled plans, changed benefits big time, raised premiums from $55 to $200+ on some plans, etc. Too shakey to deal with at any level of confidence.

Good luck.

 

[alphawave2k]

1. Maybe. It depends on the size of the group as to how Medicare acts in addition to "other" coverage. There is a very helpfull diagram of this in the CMS guide on medsupps. Certain size groups the "insurance" is primary and others Medicare is primary.
2. I agree. No cobra. He's GI for a medsupp and of course MAPDs as well.
3. He'll have no penalties, but should be proactive getting a creditable coverage letter back to either 1/1/2006 or when he became eligible for part B. If he waits longer than 63 days from the time his coverage termed the GI medsupp rule goes out the window.

CIP, IMO, is a worthless POS. They've pulled out of several markets, cancelled plans, changed benefits big time, raised premiums from $55 to $200+ on some plans, etc. Too shakey to deal with at any level of confidence.

Good luck.

MrMack He would normally have 63 days from date of termination to sign up for insurance with 0 questions asked. If he misses that date then he would have to answer all questions on med supp app.

Thanks for your responses. As I'm just getting started in this market, CIP appeared to be a good program for those in dire shape...not sure if there are better companies out there for the state of GA. I will eventually find one as I am sure I'll be learning a ton as I get deeper into it. To me this market makes sense. Seniors are going to need a lot of help trying to decipher what the hell is up with their insurance plans, even though I've spoken with some pretty pesky prospects that want to go it alone and "are happy with what they've got now", and just don't want to hear about any other companies or options.
Also, have had the phone handed off to grand "kids" who have asked a ton of questions, and in the end just say, "we're not interested"? WTF?
Some of these young adults need to be sent back for a brain retro-fit....they only hear what they want to hear and don't even understand any of the Medicare stuff. If they're going to blow off every salesperson off like that, they will end up doing their grandparents a major disservice...about as dumb as a box of rocks.
I'm always thinking that I need to be educating them and giving them the full story, but apparently it doesn't work for everybody. I can see where some sales people can cop an attitude real quickly and just go for the kill.

 

[DS4]

1) This could be both a "yes" and "No" answer depending on if this prospects employer employed 20 or more ee's. If 20+ ee employer, he should have delayed enrollment in Part B. Not eligible for COBRA because of Medicare.
2) Yes, either a MAPD, or Med supp & PDP.
3) If employer plan cx'd 11.01.09, prospect has 63 days to apply under "guarantee issue". The "Certificate of Creditable Coverage" needs to be submitted with the app.

 

[arnguy]

Alphawave2k, any savant worth his salt will tell you the word is spelled savant(s)!

 

[The Hunter]

Evercare has a SNP in some counties in Georgia for chronic Illness

 

[Yoda]

"Alphawave2k, any savant worth his salt will tell you the word is spelled savant(s)!"
================================================

Maybe hes one of those *** savants. Maybe he barely knows how to dress himself and he dont spell very good but he plays a mean piano. I have got nothing.

 

[alphawave2k]

Alphawave2k, any savant worth his salt will tell you the word is spelled savant(s)!

OK you got me. Getting to an age where if I don't have my specs on... (spectacles) for you yung'uns, it's difficult to see the small font on the screen.
Since it's a word borrowed from the French, I thought I would do what most every "American" does, slaughter the crap out of the pronunciation, except I also decided to slaughter the spelling as well. Not bragging, but I happen to be fluent in 2.6 languages with English not being my first. Funny thing, my wife has a Phd in Literature, and has taught English all her life, and has garnished many accolades including graduating with honors. I actually outscored her on the English portion of the Foreign Service Exam.
And Yoda, I ain't got nothin' on nobody. I just a plain ol foreigner.
Adios amigos
And to you Monsieur Arn, I would just like to say "Touche mon ami, vous avez tous la raison", and thanks for your positive contribution to the thread. And just as important, for focusing on the big picture.
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Evercare has a SNP in some counties in Georgia for chronic Illness

Yep, they have something for somebody across the state. I was pretty excited about them until G. Gordon's reply. I have actually run across folks who could use this kind of help...hard for most of them to know their existence. And if we as agents don't know what is available to offer them, just think how lost or bewildered they might be.

 

[G.Gordon]

Hey, don't get me wrong. I love CIP. I've gained a couple dozen clients easily by helping them get off that mess.