I watched this video from Senior Marketing Specialists recently. They quoted a shopping rate of 70% this fall. That's a crazy number! Any idea where they sourced this from?
70% Shopping Rate??
- Thread starter jockin mg
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They are talking to the insurance companies and contacts at CMS. So FMO's are predicting up to 90%.
The last few years, roughly half of my clients wanted to "shop" their PDP. Based on rumors, I would expect that figure to run higher this AEP and a chance a number of them will walk away from their Part D coverage if the numbers don't make sense.
Well if you do send them to The Canadian Medstore and it's around $70 per month and no deductible to worry about.
Or better yet with Eliquis if their income is below like $60K for for household of 2 and don't have Rx coverage they can likely get it for free directly from the carrier
Chazm are you going to call everyone of your mapd and pdp clients this aep and run their drugs and drs and potentially have to move 100's and 100's of plans ? I think you said you have over 1 k plans .
Some agents MAY suggest such a move and that would be foolish to do so. I doubt that would be a covered E&O claim.
However, I have had clients eschew a drug plan because the numbers did not make sense. A dozen years ago or so, PDP premiums started in the mid to high teens. Now there are a handful of plans with single digit premiums.
If the 2025 starting point is north of $20 I would expect some may opt to drop or never enroll in a PDP.
As for the Eliquis quip, many high cost brand name drugs qualify for a PAP or grant. There are also lower cost generic equivalents and brand names from reputable Canadian pharmacies.
Prior to 2006 Medicare beneficiaries did not have drug plans available. All the tools that were available prior to 2006 never went away . . . they are still here.
Some beneficiaries MAY find their TOTAL costs for medication goes down when they opt out of the 2025 PDP model.
Many may not know this, but insured drug plans, especially those with low copay's, have actually driven up utilization and costs since the mid 90's. A group insurance carrier I worked for found their Rx claims increased 40% in one year when copay's were introduced. Drug claims never retreated from that point.
Think about that for a while.
Many may not know this, but insured drug plans, especially those with low copay's, have actually driven up utilization and costs since the mid 90's. A group insurance carrier I worked for found their Rx claims increased 40% in one year when copay's were introduced. Drug claims never retreated from that point.
Think about that for a while.
I call zero of them. I'll send them a link to my Calendly and from there they'll be auto directed to RetireFlo to enter their meds and doctors.
I'll probably have to move 60-70. It's my guess unless one plan just completely craps the bed.
I have over 1k clients but 300-400 are med supps.
Those phone calls will take 10-15 mins and I use sunfire for the app.
For my MAPD clients, they will most likely learn that all MAPD plans got worse. Most of my clients have UHC HMO/PPO. I have 500+ on UHC med Supp and MAPD.
I'm also in FL. Our MAPD plans will most likely be better than they were a decade ago.
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