starting to feel like the wild west and snake oil

Jun 3, 2019

  1. Randy Foulds
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    Randy Foulds New Member

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    I am new here...

    I have been selling Med Sups in CA for about 10 years. took over agency from my mother who retired after 20 years. We do nothing but Med Sups, very few MAPD, and PDP. we also do IFP through Covered California, but we dont advertise that.

    I dont have a question, just a comment. It is starting to feel like the wild west out here. I spend a lot of my time explaining to people the difference between Medigap and MAPD, then working on their behalf to disenroll them from a MAPD. in almost all cases, they enrolled in it without even knowing the difference. They often day, "the other agent didnt tell me that."

    It seems unethical to not properly explain to a prospect exactly why they may not want an MAPD. Dont you think?
     
  2. Markthebroker
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    Markthebroker Guru

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    I have mixed feelings about unethical agents.

    On the one hand, they hurt the reputation of the industry as a whole, and generally make me nauseous.

    On the other hand, other agents behaving badly is a large reason people want to buy insurance from me instead.
     
  3. somarco
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    somarco GA Medicare Expert

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    I am convinced a lot of agents don't understand what they are selling. That includes MAPD and PDP.

    And they don't care.

    No premium is an easy sale if you spin it right. Many go back and load the client up with add-on crap to fill in the "gaps" in MA plans. They can easily walk away with $1,000 or more in their pocket vs $300 selling Medigap.

    So many carriers advertise DTC and make the MA plans seem wonderful.

    And now CMS is joining the bandwagon and pushing MA plans as well.

    Everyone, including my BIL, loves those plans until they have to use them. Then they grumble and want to get that Medicare supplement plan they refused when they turned 65.

    Of course they can't.

    It's a fact of life.

    I write only Medigap. No MA plans. Used to pass along maybe half a dozen referrals per year to a friend that wrote the MA plans for me.

    I don't think I have sent him a single referral in a couple of years.

    Most of my new clients are T65. Most know they want a Medigap plan. A few are confused. We talk. They pick the Medigap.

    Wrote two last week (husband and wife) and another two today. All T65. Most thought they wanted Medigap but wanted to know more about MA.

    We talked.

    I explained.

    They bought.
     
    somarco, Jun 3, 2019
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  4. Randy Foulds
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    Randy Foulds New Member

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    Somarco, you just described my business to a T. I have a competing agent in my area who pushes MAPD like crazy. never even presents Med Sup. and he only writes UHC, and they help him at every step. they give him grants and co-op, they set him up in street fairs and health fairs, etc. drives me crazy.

    I just helped one of his clients get disenrolled and get a $50,000 refund from UHC. Because he didnt do his job.
     
  5. vic120
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    vic120 Guru

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    Agents like that all over, Occasionally I might lose buis from it But more time's then that it gains me buis

    In fact, I often hear things like Noone explained it that way or For the first time I understand it

    Most times when someone has had a good conversation with me they can spot an MA plan very easily
     
    Last edited: Jun 3, 2019
    vic120, Jun 3, 2019
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  6. axeman462
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    axeman462 Guru

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    although there is a problem with bad agents, I'd be willing to say that there is also a problem with bad/lazy customers too. (maybe as high as 20-30%)

    Insurance isn't exactly an interesting subject for most people. So many times when the subject of insurance comes up (customers or not), people's eyes glaze over. When this happens with a customer, they are putting all their trust in the agent to make the right decision for them. They dont care at the time of purchase (although, in many case they may want to care, but the bordem of the subject is just too much for them to handle). They may go through the motions of "listening" but they are not mentally there in the conversation.

    As agents, we can only do so much to make the customer care. To a certain extent it falls on the customer to ask questions, actively listen, and be involved.

    But yes, there are also unscrupulous agents too (ie: Bankers Life).
     
  7. David Taylor Jr
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    David Taylor Jr Super Genius

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    Also it depends on what the SOA allowed them to talk about in that session as well.
     
  8. vic120
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    vic120 Guru

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    So True, Also sometimes I have these type once in a while

    You know They understand everything up until you have to tell them something they don't want to hear they say this is so confusing, No it's just not what you want to hear

    I never sign those I am sure they sign with the guy that lies to them
     
    vic120, Jun 3, 2019
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  9. DS4
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    DS4 Guru

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    If you live in an area with a heavy concentration of MA plans, then, yes, it will be the wild west. A quick search of your zip code shows 8 MA plans with Zero premium. Seniors like zero premium.
     
    DS4, Jun 3, 2019
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  10. LostDollar
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    LostDollar Guru

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    This is presented to the agent as:

    Cross selling
    Improving the return for the cost of the DM lead
    Selling to the scope
    Meeting an (moral) obligation to allow the prospect to specifically decline coverage they may really need

    There may be more, but those are the ones I remember and I haven't quite figured out what to think about them.
     
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