How does one sell a Med Sup Anyway?

[Chazm]

My point was no one knows what is going to happen to the part b deductible, that’s why a lot of people want the F Plan now because it will be grandfathered, and the deductible will be covered no matter what Congress raises it to in the future.

So you believe that if the Part B deductible were to go up a lot that your Plan F premium wouldn't reflect that?

 

[Chazm]

In FL it would take you minimum of 22 doctor visits in a year to make a Plan F come out ahead. That's factoring in doctor visits at $20. Which anyone who has sold a Plan N knows it's closer to $13

 

[Yagents]

Plan f rates will or should go up by the same amount that part b rises, since it now has to pay higher part b deductible.

My clients will pay the extra $40 so they dont get a bill, and to stay on golf course. Gave hundreds the option to move to G last year for $20mo savings, Few takers.

And if willing to do admin, and pay copays, I would do HDF for the $100 in savings and plug up excess charges that happen often with mayo AZ clients

 

[somarco]

My point was no one knows what is going to happen to the part b deductible, that’s why a lot of people want the F Plan now because it will be grandfathered, and the deductible will be covered no matter what Congress raises it to in the future.

So you believe Congress raised the deductible without regard for the increase since seniors (with F) didn't pay it anyway?

And once F is no longer offered, the B deductible won't increase as much since it will be visible?

In some states such as CA the G plan isn't sold much since the premium savings, F to G, isn't significant.

You have chosen not to reveal your state(s) so I can only speculate. But in most states the premium differential in G vs F is often in the $250 - $300 range, sometimes more.

Kind of makes G a no-brainer.

Even for seniors who cannot keep up with deductibles, copay's and coinsurance.

I presume you have some really dumb seniors who can't understand the savings.

My clients readily see it makes no sense to give an insurance carrier an extra $300/yr to cover a (current) deductible of $183. They are also smart enough to figure out as the deductible increases, F premiums will increase more than the deductible.

Most (about 90%) of my clients have G and they understand it a lot better than the Part D. A few have N, some HDF's and a very few regular F plans.

Most of them do understand D but every few years we have a refresher discussion. But very few come back and ask why they have to pay to go to the doc early in the year.

Either I do a pretty good job of explaining how Part B deductibles work, or I am lucky enough to have some pretty smart clients.

 

[somarco]

option to move to G last year for $20mo savings, Few takers.

Must be like Cali where the premium differential in F vs G is negligible.

Most here see $25 - $30 savings.

Before BX and UHC decided to offer G a few months ago, the difference in many G plans vs those carriers F was ofter $50/mo and more.

Like shooting fish in a barrel.

 

[DS4]

Because N can be $50+/mo less expensive. Would you pocket $600+ annually and deal with the “hassle” of N?

But what about the thousands of $$$ in exposure for those pesky "excess charges" not covered by Plan N??
Besides, if you sell Plan F only, you as an agent really don't have to know anything about Medicare.

 

[LostDollar]

Long time reader, just never had the need to chime in. Have done well with MAPD and FE, and my plan is to focus on Med Sups next year

I have some clients with Sups, but hit me I've never "sold" one--they were carrier or client referrals

I tried T65 and most of those are not getting B until 66/2 months.

When I ask about Med sups in person, I'm told "Yeah I have a Plan F"--when I suggest they could save $500 a year with an "N" they look at me as if I asked them to donate a kidney. "Oh no no no, no thanks"

So how the devil are these things sold? 13 million have one, so I assume someone sold one once!

This sounds to me like you are dealing with folks working to social security full retirement age for large employers providing group health coverage. As I said before, Med Supps and MAPD's solve exactly the same problem for a Medicare beneficiary. How are you tracking your prospective clients from T65 to SS FRA and selling them MAPD's, and why does the same technique not also give you the opportunity to sell them a Med Supp instead of an MAPD if it matches their needs better?

 

[LostDollar]

It would go up some, but they wouldnt have a huge hole in their coverage every January. Most are willing to pay more for full coverage.

I take the meaning of your comment, but in relation to the costs of today's medical services, I think describing the current Part B deductible as a "huge hole" is a bit of hyperbole.

My "easy solution" to the "problem" you describe is just to wait for both the Medicare MSN and the supplement EOB, then not pay the provider any more than the supplement EOB shows.

 

[GreenSky]

It would go up some, but they wouldnt have a huge hole in their coverage every January. Most are willing to pay more for full coverage.

In most places the companies charge more to cover the deductible than the actual cost. Generally people will pay $300 or more to avoid $183. In CA I usually save people $700-800 by going to plan N and paying the deductible plus $13-20 to see a doctor.

If the Part B deductible goes up to $500 the insurance companies will likely raise the cost of Plan F by $600-700. I can only hope your clients are contacted by someone like me and are healthy enough to move.

Those of you who only sell Plan F must not be explaining options to your clients. You will lose them more readily than someone who writes 80% Plan N (as I do). My clients already have about the lowest rates and best value. What about your clients? (You're name isn't really Al is it)?

Rick

 

[GreenSky]

I take the meaning of your comment, but in relation to the costs of today's medical services, I think describing the current Part B deductible as a "huge hole" is a bit of hyperbole.

My "easy solution" to the "problem" you describe is just to wait for both the Medicare MSN and the supplement EOB, then not pay the provider any more than the supplement EOB shows.

I have a better solution. Stop giving stupid advice.

Rick