United World and United of Omaha 2011 Inforce Business Increase?

[petrinoknowswbest]

Re: United World and United of Omaha 2011 Inforce Business Increa

Two problems:

1) If they could charge 15% of the total allowable, you would be correct. But they can olnly charge 15% of 95%, so in the above example the doctor will receive a total of $5,244, which is an extra $444.

2) They now must collect the entire $5,244 from the patient. Neither Medicare nor the supplement will not pay them directly but all money goes to the patient. How much does this surgeon collect when the patient dies?

Excess charges have been sold via Plan F using fear to make the sale. Explain this correctly and your clients will thank you for the education and somelike like me won't come behind you and rewrite your client into the "proper" plan.

Disclaimer: I still write mainly Plan F because there is virtually no differnce in cost in CA between F, D and G. But where there is a price difference (I've seen $600/yr ore more, I spend as much time as necessary to be sure my client gets the best value. And worrying about excess charges that even if in play would be less than the annual premium difference is selling fear.

Rick

2011 Medicare and You handbook page 54. "They may charge you more than the Medicare approved amounts, but there is a limit called "the limiting charge. They can only charge you up to 15% over the Medicare approved amount." It also states you, being the patient, may have to pay entire charge and file the claim to get reimbursed. The money would still be owed to the patient or the patients estate if they died. If that is the case...we will file the claim for the client and makle sure they get their money. However, I only know of one doctor that has made the patient pay up front. I tell the prospect this is possible.

I sell Plan F for the same reason you do. I have a large number of companies and have always had a Plan F rate that was financially competative to Plan D or G. Although I am beginning to think Plan G is the way to go due to the price increases on the Plan F. Plan G are not too bad!
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Excess charges have been sold via Plan F using fear to make the sale. Explain this correctly and your clients will thank you for the education and somelike like me won't come behind you and rewrite your client into the "proper" plan.


I was trained to educate and not sell. I have a 95% or better retention rate. 99% are on Plan F.
I have MA but refuse to sell. Same w/ Part D. I inform my clients to call Medicare to enroll in a drug plan. Even though I could write them....they are happy I am honest. Med Supps and a few annuities are my bread and butter.

 

[GreenSky]

Re: United World and United of Omaha 2011 Inforce Business Increa

2011 I was trained to educate and not sell. I have a 95% or better retention rate. 99% are on Plan F.

I didn't mean to imply that you were doing anything wrong. I too sell mainly Plan F because when I do the math here in CA, it's the best value.

However, I do sell MA plan when appropriate, and in many cases (especially with PPO plans), they are the best value.

We have some consumer safeguards regarding MA plans that the other 56 states might not have moving from MA to a Med Supp so it's a bit "easier" here.

I don't know what my retention ration is, but I rarely seem to lose a supplement unless my client is so inconsiderate of my renewal commission that he/she dies.

Rick

 

[petrinoknowswbest]

Re: United World and United of Omaha 2011 Inforce Business Increa

I didn't mean to imply that you were doing anything wrong. I too sell mainly Plan F because when I do the math here in CA, it's the best value.

However, I do sell MA plan when appropriate, and in many cases (especially with PPO plans), they are the best value.

We have some consumer safeguards regarding MA plans that the other 56 states might not have moving from MA to a Med Supp so it's a bit "easier" here.

I don't know what my retention ration is, but I rarely seem to lose a supplement unless my client is so inconsiderate of my renewal commission that he/she dies.

Rick

i know you were not implying that i was doing wrong.

I just dont want to get my hands in the MA plans due to the rules and regulations. We have the safeguards too. Once a client gets pissed about their MA coverage then they prob will not let me write the Med Supp. I may be wrong but I would rather not find out.
I always tell my clients, if another agent contacts you with a plan less than what they have currently, be cautious and let me know because what you have is the best possible premium available.
I new to the forum but not the med supp business. It is a great tool!! This will be my 13th year and always interested in learning other folks thoughts and opinions!!
Arkansas is a easy state for this business.

 

[Fisher]

Re: United World and United of Omaha 2011 Inforce Business Increa

Whereabouts in AR, Petrino? I have clients in Harrison and surrounding areas...