How Competitive Are Aetna Medsupps?

[John Galt]

I am considering adding them but would like to hear from some of you if you feel they are or are not competitive. Now competitive means different things for different agents, here is my definition:

1. Phone interview - I dont want a 45 minute interview that has a lot of hassles.
2. Agent friendly
3. Consumer friendly
4. Meduspp administration handled correctly the first time
5. Pricing is in the top 3 or 4 of your medsupp offerings ( I know this is different in different areas and can change from year to year)
6. They dont rape insureds with increases.

I write Aetna FE currently and I like them, but we all know different departments often withing the same company operate differently. Since Aetna is kinda strange on how you add new products and states (you have to do full contracting each time), Im thinking hard about this before I move forward. Any other company I can just add a product or state with my state license and get appointed, bingo bango, not so much with Aetna, let me know what you medsupp guys think, thanks

 

[jacobtn]

You don't have to do new contracts to add states, or products for that matter... they have one contract for all their health products, and one for FE and that's it (ACI and CLI are separate contracts).

You don't do the phone interview with the client, they typically will call them afterwards. You CAN do it in the home, but they don't give approval on the spot so I don't bother unless the client is the type that is hard to catch on the phone, then it might be good to get it out the way (or if you need it effective soon and want to speed up the underwriting).

Rate increases have been stable, no issues there unlike Omaha. Definitely one to have in my opinion. Their underwriting can be a little strict, but they all seem to be on Med Supps (compared to FE).

 

[John Galt]

You don't have to do new contracts to add states, or products for that matter... they have one contract for all their health products, and one for FE and that's it (ACI and CLI are separate contracts).

You don't do the phone interview with the client, they typically will call them afterwards. You CAN do it in the home, but they don't give approval on the spot so I don't bother unless the client is the type that is hard to catch on the phone, then it might be good to get it out the way (or if you need it effective soon and want to speed up the underwriting).

Rate increases have been stable, no issues there unlike Omaha. Definitely one to have in my opinion. Their underwriting can be a little strict, but they all seem to be on Med Supps (compared to FE).

Thanks for the info, but my IMO had to send me a whole new application process to add new products and states, I already have them for FE in 2 states but in order to add new states to FE or Medsupp I have to refill out all the paperwork all over again and add the new states and products and also have to make sure to add the states and products I already have. In other words, they make you do all new contracting if you add anything (states or products), you have to basically start over, am I getting this right, cause that is what we all were told by two people from Aetna, my IMO even made them send us emails stating the same thing. Its freaking frustrating.

 

[medsuptage]

1. Phone interview - I dont want a 45 minute interview that has a lot of hassles. - You better throw them in the garbage then.

I wrote a lot of U/W business for them before they made a lot of their changes from the Aetna purchase. I rarely send them U/W business any longer. The PI is one of the most painful that I'm actually willing to actually write for, 30 minutes is normal. The positive to their PI is they don't do much underwriting after the fact, like Oxford. The decline is usually in correlation with the app and U/W guide which is nice.

They were really great for a while there, but they've gotten so big now a lot of the things that used to be really easy have become much more difficult.

Their contracting is on cloud 9. I don't even had words for it. As an agent that writes in lots of states it has really made my life difficult.

They do have one of the best agent portals I've ever seen though and it makes it really easy to track your business and commissions ect.

I still use them for O.E and occasionally GI, but they're rarely first choice for U/W business anymore. Sucks because I really like them as a company and rates have been really stable, it's just to much of a hassle now.

You don't have to do new contracts to add states, or products for that matter... they have one contract for all their health products, and one for FE and that's it (ACI and CLI are separate contracts).

They still require you to send in a partial contract including your license, and it must be sent through your entire upline channel and it takes 2-3 weeks for an appointment after it's received by the company.

 

[John Galt]

1. Phone interview - I dont want a 45 minute interview that has a lot of hassles. - You better throw them in the garbage then.

I wrote a lot of U/W business for them before they made a lot of their changes from the Aetna purchase. I rarely send them U/W business any longer. The PI is one of the most painful that I'm actually willing to actually write for, 30 minutes is normal. The positive to their PI is they don't do much underwriting after the fact, like Oxford. The decline is usually in correlation with the app and U/W guide which is nice.

They were really great for a while there, but they've gotten so big now a lot of the things that used to be really easy have become much more difficult.

Their contracting is on cloud 9. I don't even had words for it. As an agent that writes in lots of states it has really made my life difficult.

They do have one of the best agent portals I've ever seen though and it makes it really easy to track your business and commissions ect.

I still use them for O.E and occasionally GI, but they're rarely first choice for U/W business anymore. Sucks because I really like them as a company and rates have been really stable, it's just to much of a hassle now.




They still require you to send in a partial contract including your license, and it must be sent through your entire upline channel and it takes 2-3 weeks for an appointment after it's received by the company.

Thanks for that info. I have got conflicting information regarding adding new states and products if that is the case, hell, Im to the point where I may just hold off with them for anything other than adding FE to 2 more states.

 

[jdeasy]

You don't have to do new contracts to add states, or products for that matter... they have one contract for all their health products, and one for FE and that's it (ACI and CLI are separate contracts).

You don't do the phone interview with the client, they typically will call them afterwards. You CAN do it in the home, but they don't give approval on the spot so I don't bother unless the client is the type that is hard to catch on the phone, then it might be good to get it out the way (or if you need it effective soon and want to speed up the underwriting).

Rate increases have been stable, no issues there unlike Omaha. Definitely one to have in my opinion. Their underwriting can be a little strict, but they all seem to be on Med Supps (compared to FE).

If you check life and health from the beginning it's not a problem but if you only contract with them for life or health and then want to add the other it's a real PITA.

 

[grod]

Last week I submitted a couple of T65's using their e-app. I used the phone signature option while I was with the client. It took all of 5 minutes to navigate through the menu options and get it telephonically signed. Policy issued in two days and I was paid shortly after that. I have been using them for a few years for all types and am pleased with how they handle everything, including rate increases and communications to the client. They offer good name recognition as well. They are usually in the top three or four where I sell.

 

[liorselamb]

They are not the most competitive (in SC, NC & GA), but the have an awesome e app (i-Go). They are very competitive at older ages 78+. They are the only company, that I know of, that pays full commission on ages 80+ Underwriting is within the norm. Good to have in your bag

 

[senior-advisor-indiana]

I don't know how anyone could be impressed with the e-app process especially with the painfully long phone interview.

 

[liorselamb]

I don't know how anyone could be impressed with the e-app process especially with the painfully long phone interview.

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