F'd Over by Physicians Mutual

[WCMason]

So today I go to an appt with a T65. I discover his 67 year old wife is paying $156 for her med supp. Asked her what plan (their card doesn't show it). She says she thought it was the one that is supposed to cover everything, but has gotten big doctor bills, almost two grand for a broken pelvis and shoulder after a fall from a ladder.

Sensing the obvious, that something is wrong with this picture, I had her call the company. They told her she had an F. I told her to ask why the big doctor bills. A pause, then she was told, well, your plan is a high deductible F for the first three years, then converts to an F automatically with no underwriting. This explains the doctor bills, but not the ridiculous premium for the coverage.

Must admit I never knew such a thing existed. She says she was never told. Earlier in the meeting she told me the first agent said she didn't need to get a drug plan since she was taking no drugs, no mention of consequences. Now she's paying an LEP, and is now doubly angry with with med supp revelation.

Wrote them both, then went to her brother'a house and wrote him, too.

 

[azmedsupagent]

As a recently separated Pmic career agent I have a feeling she was sold a plan they got approved in certain states called "innovative F" Its a hd f for a few years then it turns to a regular F. Problem is its still way over priced. Are you in arizona by chance?

 

[goillini52]

As a recently separated Pmic career agent I have a feeling she was sold a plan they got approved in certain states called "innovative F" Its a hd f for a few years then it turns to a regular F. Problem is its still way over priced. Are you in arizona by chance?

I was with PMIC for a couple of years around the turn of the century. A couple of months ago I went onto their website to see what kind of products they're offering now. They've gotten rid of most of their life products, but other than that not much has changed....except that Innovative Plan F...they don't even offer the regular F anymore. I never heard anything about that plan until I saw it on PMIC's site. That plan came in under the radar! It seems like I saw one or two other companies that offer it. I could never sell it to anyone anymore than I could sell a HD Plan F...unless the customer insisted on it!

 

[sshafran]

I was with PMIC for a couple of years around the turn of the century. A couple of months ago I went onto their website to see what kind of products they're offering now. They've gotten rid of most of their life products, but other than that not much has changed....except that Innovative Plan F...they don't even offer the regular F anymore. I never heard anything about that plan until I saw it on PMIC's site. That plan came in under the radar! It seems like I saw one or two other companies that offer it. I could never sell it to anyone anymore than I could sell a HD Plan F...unless the customer insisted on it!

The weird thing is this innovative plan F is the one they push. And they try to come across as "the most well-researched agents on the planet" with thier weiss ratings and dog-and-pony show.

Sizzle. That's all it is. They are (well, some of them are) good at selling sizzle. But there is no steak.

 

[goillini52]

The weird thing is this innovative plan F is the one they push. And they try to come across as "the most well-researched agents on the planet" with thier weiss ratings and dog-and-pony show.

Sizzle. That's all it is. They are (well, some of them are) good at selling sizzle. But there is no steak.

It's the one they push because it's something they have that almost no one else does....oh yeah, and it's VERY profitable for them. That lady was paying about $40 more a month for the Innovative Plan F than it would cost for the regular F in my state! I'd say that qualifies as a screw job!

 

[DS4]

I have a feeling she was sold a plan they got approved in certain states called "innovative F" Its a hd f for a few years then it turns to a regular F.

How in the world can a state approve such a plan??? This plan has a built in "bait & switch" provision.

 

[goillini52]

How in the world can a state approve such a plan??? This plan has a built in "bait & switch" provision.

And it's pure profit for PMIC for the 1st 3 years! Even when it converts to a regular Plan F...it was already priced higher than a regular Plan F from the beginning, so it's win win for PMIC!

 

[G.Gordon]

Not a bait and switch. I just pulled a T65 lady back from doing this herself. I explained all they are doing is selling you a hdF at F prices for the first three years and then I guarantee they will send her papers to sign to "convert" it (really issue a new guarantee issue F) to her at the "same price". I showed her that a real hdF should be around $51/mo and I could sell her a plan F today for $138/mo with no deductible for the first three years.

Like someone said, they sell the sizzle, but there ain't no bacon.

 

[IndianaAgent]

I ran into this plan today at an appointment and it had me baffled. It also includes a "Enhanced Preventative Services Benefit". Does anyone know anything about what this covers? The small print at the bottom reads:

"Enhanced Preventative Services Benefit is an innovative benefit rider. Preventative benefits are not subject to co-pays, deductibles or co-insurance. Preventative services benefits are payable for medically-appropriate services not paid for by Medicare or any other provision of this policy, and are subject to the following exclusions: dental services defined byADA Current Dental Terminology codes; chiropractic services, acupuncture and acupressure services; weight loss treatment of any type; prescription drugs or over-the-counter drugs or supplements; experimental preventive services."

There was no info as to what it actually did cover.

 

[Chazm]

Maybe tetanus shot or shingles vaccine?