UCT has a great lead program

[policy doctor]

Us senior agents wouldn't

To those of us who are senior agents in the senior market, you probably remember seeing a client own 2 or 3 med supps. Their reasoning was fear of owing the hospital and medical more than their Medicare and insurance would cover.

Boy did I love meeting those prospects. Didn't take long to whittle down that expenditure, compare their coverage to one I was promoting--which was more comprehensive--(back then med supps differed in benefits) -and then encourage another sale, like life, or nursing care. Once a client understood 80% of medical is covered by Medicare, and more in a hospital, their exposure is not that high.

From a marketing point of view, Mary is just loading up the client. But hey, that is what AARP does! And other co's too. There is hospital indemnity, cancer insurance, accident coverage, etc. I find that sick families tend to load up on these policies, but have nothing for LTC.

The medical profession loads up the client too with duplicate tests and over-doctoring. So unless the client has sense, or sees his money running out, fear keeps him buying.

 

[sman]

From a marketing point of view, Mary is just loading up the client. But hey, that is what AARP does! And other co's too. There is hospital indemnity, cancer insurance, accident coverage, etc. I find that sick families tend to load up on these policies, but have nothing for LTC.

The medical profession loads up the client too with duplicate tests and over-doctoring. So unless the client has sense, or sees his money running out, fear keeps him buying.

I hope you aren't saying this, but just in case, just because others do it doesn't make it right.

I hate when someone plays on a persons fear for financial gain. Our job should be to educate that person as to why they don't need to waste any additional dollars on insurance they don't need.

I still haven't had anyone respond to the question as to whether or not they own one of these Continental Care policies.

 

[policy doctor]

Mary, not picking on you, but it occurred to me why you promote these extra products.

You're not making enough money on that Med Supp sale! And that's the problem.

You have travel expenses, time, postage, etc. If you sell a $77/mo policy, and earn 20% =$15.00...yes, you're losing money. So you're casting your nets to catch more fish. Us agents need to concentrate business with companies that pay us more of a fair wage, like Pacificare. Screw the cheapies....(.Unless you have a booth where people are lining up to buy, and you just sit and enroll....the volume will carry you.) But even if you get free leads from MSIS, the profit is too low. So I don't blame you for selling other products....we did combo sales with supps and life.

 

[policy doctor]

SMAN...not going into ethics here. Obviously, that's a personal choice. Just stated an observance. I have my share of war stories, but who wants to post them on a forum board? And who cares to read them?

Do what is right for the client!

 

[retread]

This subject has had some good and not-so-good discussions.

I am trying to learn what is best for my clients, not load them up and making them "insurance poor". But I think supplemental insurance (as I know it as indemnity policies) has its place.

While not for everyone, even some who want an MA plan with no premiums but high co-pays will perhaps want a hospital indemnity plan if the MA plan they want has a $200/day co-pay. If they choose a high premium MA with no hospital co-pay, they pay that premium monthly whether they use it or not. However, if they purchase an indemnity plan much cheaper, say Continental Care, they can come out ahead. It depends on the client, the plan (Med Sup or MA) and the county (service area).

Also, consider the fact that the "duck" company sells a ton of supplemental policies. It does appeal to many, or am I wrong?

 

[senior-advisor-indiana]

Yu are right on the MA. I think it does benefit an MA client. I was talking about med supps. There is no way it helps out a med supp client. Its great that the " duck " sells supplemental poilicies. What does that have to do with this? They sell supplementals to people who are working and lose income because they are in the hospital. Socail security checks keeep rolling in, no matter how sick you are.

I still dont think its right to sell the continental care to med supp holders. I never sell anything that I wouldn't sell to my grandparents. THey have had every product I have sold except annuities.

 

[senior-advisor-indiana]

Ok, I made a mistake. I would see the point in putting someone on the continental care plan if they also had a high deductible F or J plan but not the regular med supp plans.

 

[senior-advisor-indiana]

A high deductible F or J would probably be a better choice than any MA plan. The commission would suck though.

 

[Guest]

OK now i am being called greedy...

what you have to realize is this -- and this is my whole point...

i could be selling physicians mutual medicare supplements at 141 a pop -- i could sell them all day here in wyoming -- because it is a well known name...

but i am selling UCT at 77 a pop -- the most they go up is 141 when they are 99 years old... -- so their out of pocket for the year is a little under 1k -- again plan f does not include home health... -- or i could offer them plan g -- then they would have the deductable and the out of pocket...
either way -- with the continental care plan -- 25 a month out of pocket for them -- if they do go in the hospital -- they get their 1k back -- that they payed in to the medsup -- and of course it regenerates itself every 60 days like medicare -- it also pays in addition to what medsups and advantage plans do -- so if they do break their hip -- off they go to the hospital, then a nursing home and then they need a home health nurse...
this way everything is paid and they get their monies back... i'm not saying its for everyone.. but i will tell you what -- i have already had 2 clients use it and they are enjoying their free year of medicare sup insurance with their check for 1125 dollars....

keep an open and mind -- and also they are paying about 100 a month for both policies -- less than a normal medsup...

so if you think that is overinsured then that is your opinion..

and also keep this in mind -- they are changing soon on how much medicare is paying -- didnt they say it could go to 75% next year instead of 80% -- will the sup companies cover everything?
this at least gives them a little comfort..

Mary,
I am going to be blunt with you because I think you need someone to tell you this. You need to take a week off of selling and re-study your Medicare & You book as well as the Medicare Supplement Buyer's Guide. You promote yourself as a specialist in the Senior market but your posts show a serious lack of understanding or bad information. Here are the red flags:
1. You first came on here touting MA plans as the best option for most if not all seniors
2. You then stated on here that the GTL MA Gap plan had a $2500 lifetime maximum, which was wrong
2. You then came on here promoting and defending the zero premium life plan without any information
3. Then you posted about the PFFS plans as if you had never heard of them (even though it is the most popular form of MA plans in the country)...actually referring to them as "pay fee for service". How can you be a senior specialist and not know what private fee for service plans are?
4. And now you are on here saying that medigap plan G pays for home health care...it does not. At Home Recovery is NOT home health care...HUGE difference that could get you in a lot of trouble if you are telling people you are giving them HHC with plan G or D
5. You are also stating that you are treating your clients right because you are enrolling them in the cheaper medigap carrier...and saying that it will only go up to $141 when they reach age 99...I hope you are not telling your clients this because that is untruthful! That may be the price they would pay today at age 99, but not next year or 5 years from now. If you sell on price alone, your clients will find someone else as soon as they present something cheaper. The question should be how does UTC compare to Physicians for rate increase, crossover, AM Best rating, and then price.
6. And this whole business of selling MA Gap plans to Medigap enrollees is bad business in my opinion.

I am not attacking your character as I am sure you are a fine woman of intergrity...but I really think you would benefit from a good review of how medicare, medigap, and medicare advantage plans are structured and what they all cover. It appears that you get information and are eager to share it and promote it without actually researching it yourself. Please understand my aim with this post is not to attack you but to encourage you to understand something first before promoting it or selling it.

 

[maryjd123]

Hey Kyle -- here is my answers to your questions

1. You first came on here touting MA plans as the best option for most if not all seniors
yes i do tout MA plans -- and I still think it is the best option -- but again it all depends on the senior -- their health condition and their financial condition -- and how much they are paying out of pocket fo r their supplement -- i have seen in many instances where the senior was paying over 300 a month -- do the math
2. You then stated on here that the GTL MA Gap plan had a $2500 lifetime maximum, which was wrong
at the time when i did state that -- i went off of their website and called GTL and they did verify that yes indeed there was a max -- then when it was stated by another individual that their was not a max i did call back and asked another person about it -- told them about the website and they fixed it... -- you can go back and read that...
2. You then came on here promoting and defending the zero premium life plan without any information
yes i sure did -- i got info from my manager and relayed it here -- it is not in my power to do anything else -- I am not ALI S. and right now I have no idea what is going on except hurry up and wait -- again i noted in that thread if i had not posted it some other person would of...
3. Then you posted about the PFFS plans as if you had never heard of them (even though it is the most popular form of MA plans in the country)...actually referring to them as "pay fee for service". How can you be a senior specialist and not know what private fee for service plans are?
being in wyoming i suppose i am in a rural area and they have not had them here -- the doctors and specialists here call them pay fee for service plans --- so that would be wyoming lingo... i apologize for not saying private
4. And now you are on here saying that medigap plan G pays for home health care...it does not. At Home Recovery is NOT home health care...HUGE difference that could get you in a lot of trouble if you are telling people you are giving them HHC with plan G or D
we do not offer plan d here in this state but we do offer plan g --and i guess again here in wyoming we say things differently -- im not a big city person -- no this is not home health care but it is where an rn will come to the home and help out when needed.. that is what is explained to the clients.. as long as the doctor has ordered it and it is medicare approved..
5. You are also stating that you are treating your clients right because you are enrolling them in the cheaper medigap carrier...and saying that it will only go up to $141 when they reach age 99...I hope you are not telling your clients this because that is untruthful! That may be the price they would pay today at age 99, but not next year or 5 years from now. If you sell on price alone, your clients will find someone else as soon as they present something cheaper. The question should be how does UTC compare to Physicians for rate increase, crossover, AM Best rating, and then price.
and yes of course i do explain the difference to my clients between the rates for PM and UCT why pay more when you dont have too?
and of course i do show them the whole rate increase etc and explain it.. and i have called the company for the latest 10 years of increases on both parts.. thru uct and pm.... -- of course that is explained to the clients...
6. And this whole business of selling MA Gap plans to Medigap enrollees is bad business in my opinion.
again whatever is best for the client is what applies
apples and oranges

What is best for Wyoming may not be best for people in Texas... apples and oranges..

and if anyone things its bad of me to take a continental care product and sell it with an f plan is bad -- then so be it...

and Senior -- you are mistaken when you are saying im not making enough commission with a 77 dollar uct plan.. by sellin them a ccare plan i would make more... no that is not the reason... -- i sit down with my clients and we go over all the options -- we look at long term care, we look at final expense, at crititcal illness and hospital indemnity plans..

again it seems when i post nowadays i get attacked -- so for now -- yes i know i have said it before -- i will lurk

if anyone has any questions or anything of the sort you have the email address and the phone number.