Why are there so many rules to Medicare Advantage??

[goillini52]

I was fortunate enough to live in an era when med supp and FE apps consisted of one page...You had to get one signature (two if bank draft)..There was a replacement form to be completed if replacement was taking place.. There were no HIPPA Forms, No Outline of Coverage Forms or any of the myriad of other forms that we deal with now.. And, guess what? I cannot tell any difference in the amount of agent abuse from back then until today. All, the extra "disclosure" and paperwork hasn't helped one bit..

I was just recently looking at an old UA app from 25 years ago. Like you said ONE page. It didn't even ask about diabetes.

 

[Todd King]

I was fortunate enough to live in an era when med supp and FE apps consisted of one page...You had to get one signature (two if bank draft)..There was a replacement form to be completed if replacement was taking place.. There were no HIPPA Forms, No Outline of Coverage Forms or any of the myriad of other forms that we deal with now.. And, guess what? I cannot tell any difference in the amount of agent abuse from back then until today. All, the extra "disclosure" and paperwork hasn't helped one bit..

I'm with you 100% on this!

 

[rousemark]

I was just recently looking at an old UA app from 25 years ago. Like you said ONE page. It didn't even ask about diabetes.

Good Old days.. 60% first year commission, 15% lifetime renewals... No advance but most were written on an annual premium mode.. $15.00 Application fee 100% commission.. Sell an annual premium case, put 60% of the premium plus the application fee in your pocket and send 40% to the company..

Remember siting in a Hardees one evening after we had spent the day working together in Tellico Plains, TN. We were dividing around $2500 in commission, all cash.(equivalent to about $7K today) Had money and applications scattered all over the table. All of it was issued and all stayed on the books for several years.

 

[somarco]

Remember siting in a Hardees one evening after we had spent the day working together in Tellico Plains, TN. We were dividing around $2500 in commission, all cash.(equivalent to about $7K today) Had money and applications scattered all over the table.

Try that today and you might end up getting rolled by a thug.

 

[goillini52]

Try that today and you might end up getting rolled by a thug.

And probably an illegal immigrant at that!!!

 

[goillini52]

Good Old days.. 60% first year commission, 15% lifetime renewals... No advance but most were written on an annual premium mode.. $15.00 Application fee 100% commission.. Sell an annual premium case, put 60% of the premium plus the application fee in your pocket and send 40% to the company..

Remember siting in a Hardees one evening after we had spent the day working together in Tellico Plains, TN. We were dividing around $2500 in commission, all cash.(equivalent to about $7K today) Had money and applications scattered all over the table. All of it was issued and all stayed on the books for several years.

Yep, except that being captive, I only got 40%/10%. Those policy fees were our gas money. Yep, got paid in cash a lot. On monthlies, we had to turn in $1 and kept the rest. That was before the advances on MBD's.

 

[InsuranceGuy29]

I loathe new regulations on top of regulations, but I don't want it to be too easy for new money-hungry agents to come into the business or for bad agents to stay in the business. It seems to me that for some reason MA's attract the most unscrupulous agents who'll do or say anything to make a sale. The regulations we have to deal with are a PITA for sure, but I believe they protect the integrity of our industry and those of us who take it seriously.

I understand, to a point. I mean, inviting anyone and everyone to write the policies is, of course, not a great idea. I certainly don't want it to be easy, and it's somewhat good that the AHIP test is a bit of a deterrent, but I also think that taking away someone's entire book of business, if they fail that test, is absolutely ridiculous.

I just think there are WAY, WAY too many rules and restrictions. It's insane. Also, I think the whole "Wild West" and "agents just doing whatever they want" thing is essentially outdated. The plans have gotten better-and-better, every single year. And, if I was going on Medicare, signing up for one of these plans, over a Supplement, is an absolute no-brainer.

Folks are now well-protected with these Advantage plans. Tons of people also can't afford Medigap supplements, so these plans are a great option. I think signing most of them up for supplements is actually doing them more financial harm than good. I think the laws need to catch up with the times. There might've been a time where these plans were riskier, but that time was long ago. Just my $.02 cents.

 

[somarco]

Your attitude and viewpoint might change the more you are exposed to the senior market. As I have said before, and will undoubtedly say again, the agents that think the MA vs Medigap is all about money are clueless.

For many it is not a no-brainer to pick an MA plan.

I don't know that the plans are any better than 10 years ago but some of the bad actors pushing those plans are now gone. And that is definitely a good thing.

 

[kstein]

There are tons of seniors that have enough money in the bank is are pension rich that spending $150/mo for a supplement and pdp is a no brainier .When they realize all the hupla is over $150/mo they kinda laugh and say really?

 

[rousemark]

I understand, to a point. I mean, inviting anyone and everyone to write the policies is, of course, not a great idea. I certainly don't want it to be easy, and it's somewhat good that the AHIP test is a bit of a deterrent, but I also think that taking away someone's entire book of business, if they fail that test, is absolutely ridiculous.

I just think there are WAY, WAY too many rules and restrictions. It's insane. Also, I think the whole "Wild West" and "agents just doing whatever they want" thing is essentially outdated. The plans have gotten better-and-better, every single year. And, if I was going on Medicare, signing up for one of these plans, over a Supplement, is an absolute no-brainer.

Folks are now well-protected with these Advantage plans. Tons of people also can't afford Medigap supplements, so these plans are a great option. I think signing most of them up for supplements is actually doing them more financial harm than good. I think the laws need to catch up with the times. There might've been a time where these plans were riskier, but that time was long ago. Just my $.02 cents.

Is the 29 in your forum name your age? If so, that explains you reasoning. "Most" seniors re not destitute..In fact people 65 and over own 33% of the nation's wealth but they only make up around 15% of the population.. The media always focuses on the poor seniors, but that is not the average senior.. Oh, they all like to poor mouth about being on fixed income but they don't tell you about the money in the market or the income from their pensions.. The average senior can and will afford a med supp if it is explained to them that the MA severely limits their doctor choice and medical care..