Small Group and and Clients Approaching Medicare Eligibility

Discussion in 'Employee Benefits Forum' started by Devin01, Jul 21, 2017.

  1. Devin01
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    Devin01 Active Member

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    Just wondering of the smallgroup brokers (Groups less than 20) out there who is comfortable reviewing Medicare with their employers.

    Were you aware of Group Medicare options for small group brokers?
     
  2. kgmom219
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    kgmom219 Well-Known Member

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    Yes I'm aware of the options.

    And for groups less than 20, the numbers don't seem to work. How about an HRA and then the ee can buy their own plan?
     
  3. Devin01
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    Devin01 Active Member

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    I am referencing Group Medicare Plans. There are options to transition a client from a Group Plan (less than 20) to a Group Medicare Plan.

    This takes them off the employer plan and onto a separate Medicare Group Plan, they client needs to signs a trust form (enrollment form) which will cost the individual/employer less. You can offer a client a fully loaded "Medicare Like Supplement" (250 dollars or less) that the employer can pay for.

    The numbers absolutely work and the business owners love it. You have to be comfortable explaining how Medicare Parts A and B works for clients over 65.
     
  4. kgmom219
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    kgmom219 Well-Known Member

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    They work in YOUR area.

    That doesn't make them work in mine.

    Damnit. Maybe it work better if I understood A&B.
     
  5. junkman
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    junkman Well-Known Member

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    What do they do when the group goes away and they're looking at not passing underwriting for a supplement?
     
  6. Mike Siegal
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    Mike Siegal Well-Known Member

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    What companies are offering this Group Medicare Plans..and where can one find out more information about it?
     
  7. Devin01
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    Devin01 Active Member

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    When a client leaves a group situation they "generally" can pick any Medicare supplement without underwriting, like a Plan F, G, or N. This is true if they 1st enroll in Medicare Part B when leaving the group. Once you receive your Part B from Social Security you have a 6 month window to pick a Medicare Supplement without underwriting.

    Now if they have Part B already because of a small group situation, they can apply for a Medicare Supplement Plan F without underwrtiting. This is considered a Guarantee Issue situation and all insurance companies have to offer the Plan F ("usually" you do not get a commission on a guarantee issue case if you are contracted to sell Medicare Supplements).

    You can/must apply for a Medigap policy no later than 63 calendar days after loosing coverage

    ----------

    Mike if you want to PM me I can send you some information on this Medicare small group plan, down to one life. Client must be enrolled in Medicare have Part A and B and working for an employer of less then 20. Usually the math works out and the client can leave the group plan.

    Small Group Medicare option for your employers:
    o Medicare options for Groups of <20 employees
    o Employer or employee may pay premium
    o Tax benefits for employer premium contribution
    o Multiple Flexible Plan Design
    o Works like a Medicare supplement, and uses the "Medicare network"
     Enhanced and Optional Benefits May be Offered
     Part D Coverage Gap coverage options
     Vision/Hearing benefits
     Multiple Deductible Options ($0 to $4,000)
     
  8. somarco
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    somarco Well-Known Member

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    See link above.

    Hope this helps.
     
  9. Tim Resnick
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    Tim Resnick Active Member

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    I just spoke with this guy. I'm a newby but i understood what he was offering. So, if you are in an area where Medicare Advantage network is not strong, his product would work for you under the terms we spoke of.

    Just my 2 cents.
     
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