Will Medicare Business End when Healthcare is Nationalized in the USA?

[Iwillpay]

We don't have universal healthcare (Medicare for all) in the USA yet. I'm fairly certain we are the only developed country without it. It's only a matter of time before it happens.

In fact, I think it will happen during the next Democratic Presidency and Congress (under Democrat majority), whether its after the 2020 election, or 2024 election, etc.).

I can't say for sure, but I don't believe there are any health insurance companies in "healthcare for all" countries that are offering "supplemental coverage" (like Med Supps) or an alternative version (like Medicare Advantage Plans). I'm fairly certain you just pay taxes and the cost is built into the taxes and all of your healthcare is covered.

If this happens in the USA, won't both sides of the Medicare business (Supps and Advantage plans) end? As well as all health insurance in general and all health insurance companies? I think so.

If so, insurance agents in the business will lose all their residuals and won't be able to sell any more since the business of Supps and Advantage Plans is over.

I see people here heavily into Supps and even Advantage Plans; some even ONLY in the Medicare business. All of that will be gone. No more business.

I think the clock is ticking and will run out in a few years.

What's your take?

Every insurance agent will be able to buy their MB can't wait

 

[rousemark]

Not sure how "Universal" it is in all of those.

Or what the quality is....

 

[billyb]

I am not sure if any of you were selling Medicare Supplements in 10/2001 when Tricare for Life went into effect. I lost over $6000 in monthly renewals not to mention the lifetime renewals I would have earned. Also how many supplements could I have written in the future if the government would have stayed out of the healthcare business.

 

[J2727]

How exactly a national healthcare program would work or how good/bad it will be, etc. is not what I'm asking. I think it really will happen in the next Democrat Presidency and Congress.

I don't think ANY private insurance will be part of it, at least not for anything meaningful. Perhaps for non-essential services, but not for essential healthcare services.

I'm just wondering...

It's inevitable, so then why would an agent work so hard and solely focus on building a Medicare Business (Supps or Advantage)? I understand the appeal of the passive renewal income, but it's not going to last forever. It seems foolish to only be in the Medicare business.

It's like being in the coal business now. It only has a few more years as we transition to renewable energy (solar, wind, etc.). So there's no point in being in the coal business.

The same applies to the Medicare business. From one day to the next, the Medicare business will be gone.

I just don't understand why it's such a popular business among agents. It won't last.

 

[GreenSky]

I just don't understand why it's such a popular business among agents. It won't last.

What do you sell?

Rick

 

[Chazm]

How exactly a national healthcare program would work or how good/bad it will be, etc. is not what I'm asking. I think it really will happen in the next Democrat Presidency and Congress.

I don't think ANY private insurance will be part of it, at least not for anything meaningful. Perhaps for non-essential services, but not for essential healthcare services.

I'm just wondering...

It's inevitable, so then why would an agent work so hard and solely focus on building a Medicare Business (Supps or Advantage)? I understand the appeal of the passive renewal income, but it's not going to last forever. It seems foolish to only be in the Medicare business.

It's like being in the coal business now. It only has a few more years as we transition to renewable energy (solar, wind, etc.). So there's no point in being in the coal business.

The same applies to the Medicare business. From one day to the next, the Medicare business will be gone.

I just don't understand why it's such a popular business among agents. It won't last.

I'm only in the Medicare biz and I'm in because I don't agree with what you imply is going to happen.
I don't think we get to a Medicaid for all unless we see our taxes more than double. I could see maybe a Medicare for all one day and supplements will play a big role.

Why are you so certain it'll happen in the next Dem party? And why would it have 100% coverage?

 

[Alston]

I can't say for sure, but I don't believe there are any health insurance companies in "healthcare for all" countries that are offering "supplemental coverage" (like Med Supps) or an alternative version (like Medicare Advantage Plans).

When I checked in to this about 5 years ago, there was a supplemental market in Canada. From what I remembered, it was affordable. I also heard most people were happy enough with the coverage they got from the Canadian government that few bought the extra coverage.

 

[Yagents]

Most renewals only last 6 years on med supps. Any new law will have effective date 4+ years out from time it is written. Look at aca. Plenty of time to reinvent yourself.

Any govt run alternative will have private consultants or businesses rising from the ashes, making a killing charging a fee to sign up Medicaid or medicare beneficiaries.

Private dmv's, TurboTax, Fed ex, Elon musk, private toll roads, etc etc. All competitors to govt programs.

It's been 8 years since agents were screaming to get out of ifp obamacare, i'm still at income peak.

Bring on the change, the best agents will see more money and opportunity if willing to evolve.

 

[Todd King]

How exactly a national healthcare program would work or how good/bad it will be, etc. is not what I'm asking. I think it really will happen in the next Democrat Presidency and Congress.

I don't think ANY private insurance will be part of it, at least not for anything meaningful. Perhaps for non-essential services, but not for essential healthcare services.

I'm just wondering...

It's inevitable, so then why would an agent work so hard and solely focus on building a Medicare Business (Supps or Advantage)? I understand the appeal of the passive renewal income, but it's not going to last forever. It seems foolish to only be in the Medicare business.

It's like being in the coal business now. It only has a few more years as we transition to renewable energy (solar, wind, etc.). So there's no point in being in the coal business.

The same applies to the Medicare business. From one day to the next, the Medicare business will be gone.

I just don't understand why it's such a popular business among agents. It won't last.

Why? Because Medicare had been "going away" for at least the past 20 years that I've been in business. I wonder how much business and money I would have been out if I would have believed that the sky is falling?

If you want to believe that the sky is falling that's fine, but I think you would be better off not paying attention to that and then dealing with it if/when the sky does actually fall. You'll have time.

 

[TwiLight]

China. India. Indonesia is close (263.5 million)

Actually, China does not have universal healthcare. The City-States of Hong Kong and Singapore have it though.

As we define Universal Healthcare. it usually defines it as free or a major portion of the cost is paid.....

China has about 95% of its population covered for basic care, but only pays for about 50% of the cost of its benefits/coverage.

Skipper.

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Why? Because Medicare had been "going away" for at least the past 20 years that I've been in business. I wonder how much business and money I would have been out if I would have believed that the sky is falling?

If you want to believe that the sky is falling that's fine, but I think you would be better off not paying attention to that and then dealing with it if/when the sky does actually fall. You'll have time.

Guess what.... The SKY is falling.... I saw Obama wipe out Health insurance with a swipe of the pen...... All they need is a new pen to wipe out Med Sups.

It is coming sooner. I've seen people say for 30 years it couldn't happen in Health care...... well?