Understanding Medicare Supp Comp

[SecureHealth1]

Okay, so this may sound to simple, but we sell 95% med advantage.

In regards to med supps with companies like Aetna and Cigna etc., if someone is new to medicare "aging in" does that pay the full 18%-22% comp? I got confused reading about GI being lower comp and I wanted to make sure "aging in" does not fall into that lower GI comp category? I assumed the GI was for certain situations for people that have been on medicare for over 1 year.

 

[sshafran]

Okay, so this may sound to simple, but we sell 95% med advantage.

In regards to med supps with companies like Aetna and Cigna etc., if someone is new to medicare "aging in" does that pay the full 18%-22% comp? I got confused reading about GI being lower comp and I wanted to make sure "aging in" does not fall into that lower GI comp category? I assumed the GI was for certain situations for people that have been on medicare for over 1 year.

Full comp.....................

 

[SecureHealth1]

Full comp.....................

What if someone is leaving group coverage?

Or maybe I should say in what situations does the GI come into play other then supp to supp or supp to advantage?

 

[GoPokes]

What if someone is leaving group coverage?

Or maybe I should say in what situations does the GI come into play other then supp to supp or supp to advantage?

I cant answer all of your question. But "aging in" would be open enrollemt (full comp), not GI. GI is the reduced comp. The main time I see GI situation is when somebody involuntarily loses the coverage they have, could be insurance through retirement, work, or a mapd pulling out of an area. There are probably other GI situations, but like I said, I cant think of them at the moment.

 

[SecureHealth1]

I cant answer all of your question. But "aging in" would be open enrollemt (full comp), not GI. GI is the reduced comp. The main time I see GI situation is when somebody involuntarily loses the coverage they have, could be insurance through retirement, work, or a mapd pulling out of an area. There are probably other GI situations, but like I said, I cant think of them at the moment.

Gotcha, thanks..

 

[Newby]

Gotcha, thanks..

If they are leaving their employer plan but have never signed up for part B that will pay full comp also. New to part B is treated just like turning 65.

But if they lose their employer plan have already had part B that's where it's a guaranteed issue for plan F and won't pay full comp.

But if they're healthy you should be showing them the benefits of going to plan G anyway and that will always pay full comp.

 

[somarco]

SecureHealth, bookmark this page, read and understand it.

https://www.medicare.gov/find-a-plan/staticpages/learn/rights-and-protections.aspx

 

[Chazm]

Or if they are healthy enough, just have them go through underwriting.

 

[SecureHealth1]

SecureHealth, bookmark this page, read and understand it.

https://www.medicare.gov/find-a-plan/staticpages/learn/rights-and-protections.aspx

Perfect, thanks.

 

[Bob_The_Insurance_Guy]

I'd ask Thad Sipple.

He would know for sure.