Consumer Facing Quote Engine for Medicare Supplements

[vic120]

I don't have a dog in that hunt. Having seen carriers pad their book in the past, buying business with low rates and agent incentives, just smells of a bait and switch move to pinch the consumer.

I don't use UHC. Never saw a reason to offer them here. Not competitive and they are a carrier that loves to compete head to head with agents.

Their standard rates are nothing to write home about. Now that UHC is offering plan G they do have strong rates here but not enough to make me want to get in bed with them. Their substandard rates are pretty high on F and the other plans. Haven't looked at the high tier rates for G.

I don't run into a lot of situations where people just barely miss the cut from an underwriting perspective with the carriers I use regularly. Seems like they either qualify or the Grim Reaper is standing behind them.

I do send as many U65 SSDI/Medicare folks as I can to UHC. Invite the prospect to go direct via AARP. If they are close to 65 I will remind them they have a new open enrollment in a few years and we need to reconnect then. Sometimes I write them @ 65, sometimes not. No big deal.

Low hanging fruit is my target market. And I avoid working with carriers that have no use for the agent.

Yes, I don't use UHC unless I need to in most states (besides MA) However in FL & NY they have among the best rates and unbelievable low increases, UHC is very different in those 2 states then they are in the rest of the country

 

[somarco]

UHC just added lifetime renewals

How long is a lifetime?

While most of us that worked the U65 health insurance market didn't have LIFETIME renewals we did have renewal income and service fees for a specified number of years.

When Obama torpedoed that market not only did agents see their renewal income take a hit buy FYC commission took a bigger dump before bottoming out at $0 in most cases. And yes, we had commission agreements signed by both parties . . . until the new agreement arrived. We were told that we would still earn the same amount, or more, because the higher premiums offset the commission cuts.

Of course we believed the carriers. Why would they lie to us?

If you stay in this business long enough you will discover nothing is etched in stone. If you don't know how to bob and weave you will end up on the mat and down for the count.

 

[goillini52]

How long is a lifetime?

While most of us that worked the U65 health insurance market didn't have LIFETIME renewals we did have renewal income and service fees for a specified number of years.

When Obama torpedoed that market not only did agents see their renewal income take a hit buy FYC commission took a bigger dump before bottoming out at $0 in most cases. And yes, we had commission agreements signed by both parties . . . until the new agreement arrived. We were told that we would still earn the same amount, or more, because the higher premiums offset the commission cuts.

Of course we believed the carriers. Why would they lie to us?

If you stay in this business long enough you will discover nothing is etched in stone. If you don't know how to bob and weave you will end up on the mat and down for the count.

Yep, I've often thought that. Why sign a contract when the companies can, and have changed them? For the company's protection of course.

Damn, that smilie is annoying. I'll have to use it more often.

 

[Chazm]

How long is a lifetime?

While most of us that worked the U65 health insurance market didn't have LIFETIME renewals we did have renewal income and service fees for a specified number of years.

When Obama torpedoed that market not only did agents see their renewal income take a hit buy FYC commission took a bigger dump before bottoming out at $0 in most cases. And yes, we had commission agreements signed by both parties . . . until the new agreement arrived. We were told that we would still earn the same amount, or more, because the higher premiums offset the commission cuts.

Of course we believed the carriers. Why would they lie to us?

If you stay in this business long enough you will discover nothing is etched in stone. If you don't know how to bob and weave you will end up on the mat and down for the count.

Not saying it’s etched in stone but seeing all my UHC med supps dropping off from 6 years ago sucks. Yes, nearly all of them stayed with UHC because they can’t save anywhere else. Assuming they are still alive.
But if UHC has good rates I’m writing them anyways. How can lifetime renewals not be a good thing?

 

[MosesNewmanNAAIP]

www.bestmedicaresupplement.com

 

[Northeast Agent]

I just saw on CSG's quote tool that Humana's plan G suddenly is #1 in NJ and looks great in MI, too. Never bothered with their medsupp before as they aren't great in PA and if I recall correctly, don't they only pay as earned for supps? My book isn't that big yet where I can afford to wait to get paid like that. I have an email in to my FMO about it.

 

[Chazm]

I just saw on CSG's quote tool that Humana's plan G suddenly is #1 in NJ and looks great in MI, too. Never bothered with their medsupp before as they aren't great in PA and if I recall correctly, don't they only pay as earned for supps? My book isn't that big yet where I can afford to wait to get paid like that. I have an email in to my FMO about it.

They had a huge decrease here in FL and have the highest commission I’ve ever seen here. Includes Silver sneakers as well.

I just warn clients that I don’t have a rate history increase of them because they’ve always been so expensive.

But I am advanced. No extra paperwork to fill out if you sell their mapd pdp

 

[somarco]

How can lifetime renewals not be a good thing?

I spoke with an FMO about possibly contracting with UHC. Some of my questions were answered, including some that have never been answered here on the forum by agents that sell the plans.

I specifically asked about LT renewals and he gave me a breakdown. I don't have the exact figures in front of me but it is something like this.

Full "commission" years 1 - 6, reduced commission for the next 4(?), possibly another reduction for X years and then almost nothing for the life of the contract.

Again, round numbers from memory.

Plan F $260 yrs 1 - 6, $130 7 - 10, then maybe another step down until you get into "lifetime" which was something like $20/yr

Plan G followed a similar pattern except the commissions were reduced to maybe $240 yr 1 and so on

 

[sshafran]

I spoke with an FMO about possibly contracting with UHC. Some of my questions were answered, including some that have never been answered here on the forum by agents that sell the plans.

I specifically asked about LT renewals and he gave me a breakdown. I don't have the exact figures in front of me but it is something like this.

Full "commission" years 1 - 6, reduced commission for the next 4(?), possibly another reduction for X years and then almost nothing for the life of the contract.

Again, round numbers from memory.

Plan F $260 yrs 1 - 6, $130 7 - 10, then maybe another step down until you get into "lifetime" which was something like $20/yr

Plan G followed a similar pattern except the commissions were reduced to maybe $240 yr 1 and so on

Join us, Bob. It's not that dark over on this side...

In all seriousness... it can be low-hanging fruit, depending on the prospect and if they watch price is right and have seen the commercials every day for the past 20 years...

 

[goillini52]

Join us, Bob. It's not that dark over on this side...

Don't do it Bob...stay a Jedi!!!