Best Plan For Med Supp

[Frank Stastny]

The sky is falling, the sky is falling.

Every medigap post comes back to this point. Kick the dead horse again, just for good measure. Is it still dead?

The fact is there is no evidence that supports that Medigap will be effected at all. Remember, it's a suppliment, not a primary insurance policy. IT IS NOT THE SAME AS AN INDIVIDUAL HEALTH INSURANCE POLICY, that would be Medicare. It's like me selling a Cancer Policy and getting my commission cut because of health insurance. Not going to happen.

When we fully move to a socialist healthcare system instead of using Medicare, Medigap agents can start worrying about their paycheck. Until then, stop showing your IQ.

Welcome to "The sky is still where it is suppose to be" club.

 

[VaDwayne]

In Virginia I prefer the following:

1.Plan F - not much difference in price from plan D and offers more benefits.

2. Plan D

3. Plan G

But if I had to venture a guess I would say I have about 90-95% of my clients on plan F.

I know I am swimming upstream and going against the grain but I am not as optimistic on plans M and N as others on the forum, unless it is a T65 or someone new to Medicare Supplements. I have spoken to a few of my customers and they say their is no way they would consider copays or deductibles. The majority of seniors I speak to want to have everything covered and not have to worry about paying bills. DISCLAIMER: I don't market T65 clients unless they are a referral.

I sent a letter to all of my clients about 2 weeks ago letting them know about the new plans, and upcoming changes, and I also told them to expect a barage of calls from agents trying to get them to switch and that I can handle any of the insurance needs. Some called me and told me that there was no way they want to spend out their pocket for copays. They LIKE not having to fool with healthcare cost.

I know that other are expecting this big explosion of Med. Supp. sales, but I call bullc***. I guess only time will tell. Sure some MA customers will come over to our side because of the premium, but a great deal of them only have an MA because of a $0 premium, and couldn't even afford to have what they currently have if they had to pay for it.
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The sky is falling, the sky is falling.

Every medigap post comes back to this point. Kick the dead horse again, just for good measure. Is it still dead?

The fact is there is no evidence that supports that Medigap will be effected at all. Remember, it's a suppliment, not a primary insurance policy. IT IS NOT THE SAME AS AN INDIVIDUAL HEALTH INSURANCE POLICY, that would be Medicare. It's like me selling a Cancer Policy and getting my commission cut because of health insurance. Not going to happen.

When we fully move to a socialist healthcare system instead of using Medicare, Medigap agents can start worrying about their paycheck. Until then, stop showing your IQ.

Only a fool wouldn't at least be prepared, even if nothing does happen.

 

[Wtprice]

Only a fool wouldn't at least be prepared, even if nothing does happen.

I'm not saying don't be prepared. You should always be prepared with something in any commission only sales environment. What I am saying is that thinking that comparing Medigap to Individual Health Insurance concerning changes in Obamacare is like comparing Apples to Black Labs. They are no where near the same. Honestly, it may have just been easier if everyone was put on Medicare and bought Medigap to cover the extra's instead of this cluster (you know what) that we're facing today. It's not a perfect solution, but better than this garbage we have now.

 

[AtlantaLife&Health]

I don't see how Med Supps will be affected. The new health care will help those who don't have medical coverage and those being discriminated against due to preexisting conditions. Someone tell me if I am wrong...How many folks above 65 are complaining about not having health coverage? Are they being denied Medicare or MA plans when they turn 65 due to preexisting conditions? I've been out of the loop with things lately. Haven't been on the forum that much and don't watch much tv.

 

[crons79]

What is your average medicare supplement sale's annual premium? (a husband and wife added together would count as one sale)

 

[VaDwayne]

Put your spreadsheet away, preferrably in the trash, and include the human factors, called fear and emotions. The seniors that I now proudly call my clients don't want to worry about healthcare cost, and would rather have everything paid, and a little higher premium, instead of worrying about copays, half of a deductible, or whatever else.

Your spreadsheets are great at calculating mathamatical equations, but you can't include the human aspect of selling med. supps. which is the most important part of the equation.

Plans M and N may work for a T65 person who is still young and healthy but I don't see the match for a senior who has been a beneficiary for 10 or more years.

I will continue to sell Plan F unless the client specifically states that they want less coverage, or are already on a certain plan and want's to stay with that coverage.

I am giving a presentation to a local civic organization in July, and I am anxious to see what the seniors say about their coverages and whether or not the would take less coverage to save $20-30 a month,but I bet that answer will be NO..

We will definitely see M and N sales in 2010 and 2011 but they will be mostly people coming out of MA's or new benficiaries. I don't market to new people so I won't see many of those.

I guess we will see fairly soon.

 

[sman]

That's 2-14 Dwayne.

 

[VaDwayne]

In reply to:

Frank: You are right, it is on a case by case basis. What one person wants or needs will certainely effect which plan they should get. I was just making sure I understood the differences in the plans and I value your experience.

Longtimeagent: I put my clients in the best possible plan for thier situation. I am a constant learner and try to do the best I can (for me and my client). This topic has nothing to do with prospecting. It was more geared to understanding product. I like to know as much as I can so I can outsell the other guy the client is talking to or the next guy that talks to them. Great, I SOLD them a plan F and I got the most commission, but what good is it if they go on the internet or talk to someone else and the other agent takes my client because they saved them $400 a year with plan N because they are never sick and only go to the Dr's once or twice a year?!? My hard work, commission, referrals, and future sales all out the window.

Gordon: FAIL! ...LOL You were right in that some of my assumptions were off. Thats why I am on this forum to learn from others who think differently than me. I did use real numbers in my spreadsheet. Granted its from one county, but I just wanted to see different situations and how it would affect my client. From the county I ran and the numbers

If you are age 65 and go to the Dr's 7 or more times than Plan D (or G) is better for them. If <7 than plan D or G.

If you are age 75 and go to the Dr's 10 or more times than Plan D (or G) is better for them. If <10 than plan D or G.

If you are age 85 and go to the Dr's 12 or more times than Plan D (or G) is better for them. If <12 than plan D or G.

This is the funniest thingI have seen on this forum in a long time. I hope you are as good at selling as you are doing spreadsheets. Here's an idea for a spreadsheet. Track how many seniors actually give a crap about a spreadsheet.

 

[G.Gordon]

What is your average medicare supplement sale's annual premium? (a husband and wife added together would count as one sale)

What do you gain in these questions?

What "we" do has little to do with you and your market. Look at the premiums for the plans you will be selling in the age ranges you'd most likely sale to... take the average. There ya have it.

 

[VaDwayne]

That's 2-14 Dwayne.

I know, I don't think I want to change it with every loss or I won't get anything done. Man they suck..