Starting to feel like the wild west and snake oil

[fun2drum]

(Caveat: not an agent.)

Based on all I have read in the forums, I would suggest that it is not right for an agent not to be sure that his or her customers understand the financial costs and possible care restrictions that could come their way under Part C. For some of us, two years of Part C out of pocket costs, back to back, could represent a major financial disaster. I would also suspect that for at least a few folks with financial restrictions, the decision for Part C over Parts A, B, D became a life and DEATH decision.

Yeah I think you're basically correct, but oftentimes it's just as much a financial disaster to pay an insurance company $150.00 a month whether or not they go to the doctor. That's enough to keep some from getting their meds. On the other end of the scale, some people just have the money to pay copays and can take the risk. They don't want to pay so much premium either.

For an agent to sell a MA he/she must give a compliant presentation that explains everything from each possible copay to the various limits and/or deductibles that may or may not apply. Sometimes it's not an easy answer - there are pros and cons of each, and you'd have to have a crystal ball to know the best one for sure.

All things considered, if things are the same when I turn 65 then I'll probably go with a G plan and PDP. Nothing will be the same by then, I'm sure.

 

[LostDollar]

Yeah I think you're basically correct, but oftentimes it's just as much a financial disaster to pay an insurance company $150.00 a month whether or not they go to the doctor. That's enough to keep some from getting their meds. On the other end of the scale, some people just have the money to pay copays and can take the risk. They don't want to pay so much premium either.

For an agent to sell a MA he/she must give a compliant presentation that explains everything from each possible copay to the various limits and/or deductibles that may or may not apply. Sometimes it's not an easy answer - there are pros and cons of each, and you'd have to have a crystal ball to know the best one for sure.

All things considered, if things are the same when I turn 65 then I'll probably go with a G plan and PDP. Nothing will be the same by then, I'm sure.

Yes, I think I can see, from reading posts here, your financial disaster comment above making sense, particularly for a low income person needing meds.

Since I don't have to make the business decision right now, it is hard to know for sure, but I think if I was to get a license and sell, I would probably stick with med supp. If I was to try to cope with AHIP, it would probably be more to be able to get some compensation for helping folks with PDP plans in addition to MedSupp.

One of my favorite MedSupp vs MAPD threads also has two or three posts in it that present a strong case for having ability to sell both and giving customers options to choose. In addition, as the counterpoint to your age 65 comment, I have had a pm exchange with a very common sense agent, whom I would likely enjoy meeting in person too, who told me that at age 65 he will quite likely go with the MAPD option.

I personally have compromised a bit by going HDF plus PDP, but I can see how even that premium level (plus the HDF deductible-in both timing and amount) could be a problem for some.

 

[Travis Price]

 

[LostDollar]

I am very sorry to hear that. My condolences to your customers.

 

[Travis Price]

I am very sorry to hear that. My condolences to your customers.

I found a Meme generation site and have been going a bit overboard. I prefer Med Supps... However, I thought it was funny.

 

[margostl]

I have seen my T65 MedSupp BOB drop and MAPD increase, I do thoroughly explain both and inevitably they
will choose MAPD with $0.prem with all the bells &whistles that come with it. I used to push MedSupp, the healthy
ones that go to the docs 1to2x yr switched this yr. to MAPD. I have 2 waiting to make the switch in October.
I decided to give them want they want, I no longer push one over the other.I do emphasize to those with pre-existing conditions that this is their one-shot GI since they're coming off a private plan they understand the cost in the long run,they will always go with a Supp

 

[vic120]

I have seen my T65 MedSupp BOB drop and MAPD increase, I do thoroughly explain both and inevitably they
will choose MAPD with $0.prem with all the bells &whistles that come with it. I used to pushed MedSupp, the healthy
ones that go to the docs 1to2x yr switched this yr. to MAPD. I have 2 waiting to make the switch in October.
I decided to give them want they want, I know longer push one over the other.I do emphasize to the ones with pre-existing conditions that this is their one-shot GI since they're coming off a private plan they understand the cost in the long one,they will always go with the Supp

I do explain both I have Many Health that go med supp and stay that way, and I have had a bunch who were not healthy choose MA

I don't push but I do explain that if you get diagnosed later Might not be able to purchases Med supp, And I add they only look for majors

I do say to healthy people, Med Supp is for those that are concerned about the what if's and MA is for those that are concerned about the right now

 

[LostDollar]

Last sentence is a nice point.

 

[Bevo]

The beauty of being self employed in this industry is you can set your business up to sell whichever product you prefer, or both. If you are in control of your marketing you can focus on just one, design all your systems and processes around only that and crank out the volume. The clients win as they were wanting that particular product anyway, and you win because you streamline your business which if done correctly cuts overhead costs and increases profit.

Not that offering both is bad, just throwing another option into the mix. Having an affiliate to handle the other product and to send those referrals to if you're not set up to do it can often be just as, if not more profitable. In other words, trying to sell everything does not always equal more profit.

 

[somarco]

I now feel better equipped. Thank you, LD.

You bragging about your equipment?

I spend more time explaining the MA's because they're more complicated and have more potential types of costs so it's VERY important to cover all of that so the member has accurate expectations.

Not pointing fingers, but having worked with hundreds, no, thousands, perhaps millions of folks over the years I do a very good job of explaining insurance.

Yet most will only grasp and retain a small portion of what we talked about.

I have clients every year that reach out around AEP and want to know if they can change their Medigap plan. Some contact me every year with the same question.

We may THINK they understand, but in reality they don't.

Before 2010 all my clients had mangled care plans. PPO, HMO, EPO . . . .

Almost every time someone went in the hospital or ER they had hidden provider claims and I had to explain then help them fight to get the OON claim negotiated.

And I was not jumping on you about the "evil" remark. Just laying out my position. And I don't think MA plans are inherently evil. But perhaps they are just drawn that way . . .