Would You Write Today's Options MAPD on your 92 Yr Old Grandmother?

[samantha129]

Since MOO closed the UW book of business here in OH eff 4/1 you can still sell it for 4 months and the new rate for a 65 year old Female plan C is $150.46 and for a 65 year old Male $172.94 in the 436 and 440-445 zips. The previous rate for the Female was $127.51 and Male $146.56.

The new MOO is UOO and it's $116.16 for the Female and $122.28 for the Male in the same zip.

By the way, what plan do you get for $70? I ask because MOO's new UOO plan A in the the above zips is $80.96!

 

[GreenSky]

All this talk about plans closing and prices skyrocketing (MOO) makes me happy I'm in California. Our seniors are never stuck because they can move once a year to a similar or lesser plan without underwriting.

I know there are pros and cons with this, but if all health insurance was written this way I think there will be far less uninsured in the country.

Because of the "birthday rule," I make a good chunk of my income replacing higher priced plans for older (70+) seniors. I know that even if they can't qualify medically, I'll grab them with my "Happy Birthday" phone call.

The added benefit is I don't have to be a world class salesperson like SAI!

Rick

 

[samantha129]

Greensky, could you enlighten us on how it's done in CA?

I'd really like to know. From what you said, I'm assuming that on their Birth month they can make a move from the plan that they're on, say plan C and move to another Company that's offers the plan C as well? Can they downgrade as well and still be able to move with no problem?

Just to get and idea, what are your rates like on a plan C at age 65, 70, 75 and 80? Sorry for all the questions but this is very interesting to say the least.

Last question, how long has CA been doing this?

Okay, this is the last question other than the obvious, what are the pros and cons as you see it?

 

[GreenSky]

Greensky, could you enlighten us on how it's done in CA?

I'd really like to know. From what you said, I'm assuming that on their Birth month they can make a move from the plan that they're on, say plan C and move to another Company that's offers the plan C as well? Can they downgrade as well and still be able to move with no problem?

Just to get and idea, what are your rates like on a plan C at age 65, 70, 75 and 80? Sorry for all the questions but this is very interesting to say the least.

Last question, how long has CA been doing this?

Okay, this is the last question other than the obvious, what are the pros and cons as you see it?

Here's how California works:

Beginning with the persons birthday, they have 30 days in which to apply for any standard plan of similar or lesser benefits. So if a person has Plan F, they can go to another carrier's plan A-F without underwriting. The effective date can be as much as 60 days in the future. I've been moving my mother regularly for the past 7 years using this rule. I believe this rule is at least 15 years old.

Quotes in Los Angeles County for Plan F, Female Non-Smoker, age 70:

Anthem Blue Cross 209
Aetna 172
Blue Shield 190
Health Net 191
United World 168
Lincoln Heritage 144

I current direct mail Female head of household in and around my home. I had been getting a 2-3% response but the last mailing sucked! I have gut feeling that the mailing house is sitting on a bunch of leads.

To your question as to pro and con. Obviously we can see the pros on this. I can take someone with Blue Cross (who likely has 50% of the market) and save them over $750 per year for the same policy.

The negative is that there is a disincentive for insurance carriers to enter the market with low prices. Haven't seen this yet, but Frank pointed this out a few months ago. I disagree with him on it, but that's the negative.

Hope that helps. And to those of you who have me on your ignore list, you missed a terrific post - but I guess you don't know that, do you?

Rick

 

[GreenSky]

One more thing. I prefer Plan D or G to Plan F but unless the prospect quickly picks up the idea of an additional savings, I figure saving them $60 a month is good enough. If they understand quickly, then I can save them even more.

Just an FYI, United World has no Plan C. Because of that, they allow a move to Plan G on a guaranteed basis. My mother is on their Plan G (move was guaranteed from Plan C) but will move to Lincoln Heritage Plan D in a couple of months at a $218 additional savings. If she did not have such a brilliant agent, she might be on Blue Cross' Plan F at a premium of $261.

I really need to start training agents how to sell this stuff!!!!

Rick

 

[senior-advisor-indiana]

Samantha,
Admirals plan D is $69 per month here for a 65 female. UW plan F is $83 going up to the upper $90's. They are coming out with their Plan D at $77 plus or minus a buck or two. RNA's IA plan F is around $110 maybe higher, They got an 18% increase in March.

 

[samantha129]

I'm going to investigate this further. Possibly contact OHSHIIP and ODI to find out what it would take to get Ohio on board with this. I know, I know, some would say be careful for what you wish for. However, in a free market and with this added ability to make a move each year, the insurance companies would more than likely have to keep what they're doing on the up and up. Not saying their not, because ODI has to approve what they do.

There's only a few companies that I know of here in Ohio that don't open and close books of business and if this were in place, I'd be able to move my client to a new book when the rates went through the roof.

I agree about other plans rather than the good ole standby C and F. Here in Ohio, plan D through UOO for a 65 year old Female is $78.80 and plan F is $94.94.

 

[PrinceINC]

MAPD? Did she have a drug plan already with her supplement? Iv ran into a few prospects that had MA and supplement thinking they had the best :(

Try writing just the MA.

If she had a drug plan with her Supp writing a MAPD in March would not work ( i dont think) writing just the MA would.

 

[GreenSky]

MAPD? Did she have a drug plan already with her supplement? Iv ran into a few prospects that had MA and supplement thinking they had the best :(

Try writing just the MA.

If she had a drug plan with her Supp writing a MAPD in March would not work ( i dont think) writing just the MA would.

Your suggest would be great if it was still March. She did not qualify for a SEP.

Rick

 

[theinuranceguy]

MAPD? Did she have a drug plan already with her supplement? Iv ran into a few prospects that had MA and supplement thinking they had the best :(

Try writing just the MA.

If she had a drug plan with her Supp writing a MAPD in March would not work ( i dont think) writing just the MA would.

During OEP the only thing you cant do it go from PDP to PDP

You can go from:

Original Medicare to MA
Original MEdicare + PDP to MAPD
MA + PDP to MAPD
MAPD to MAPD
MAPD to MA + PDP

You just cant go from PDP to PDP

SEP is a totally different beast