I Have Been Invited to Give a MedSup Seminar... Help?!

[NAF1138]

I held a seminar last night. One section is called "Debunking the Plan F is Best Myth." During Q and A I get this question:

"I was a a seminar recently led by some who works for Medicare who told us Plan F is best because it's the only one that covers foreign travel. Isn't that a good reason to get it?"

That should be a "mark all the wrong things" AHIP question.

Fortunately each attendee had page 11 of the Buyer's Guide to Medigap and I asked anyone in the crowd to tell me if that was true, then broke the news to them that Medicare does not hold seminars, that she was dealing with an agent, and not a good one.

BTW, no other part of my seminar makes the phone ring the next day more than that one.

Would you mind talking a bit more about this section of your seminar? I have been telling many prospects that I feel plan G is a better plan 99% of the time, but most of them don't want to hear it. I would love to hear how you approach the topic.

 

[WCMason]

Would you mind talking a bit more about this section of your seminar? I have been telling many prospects that I feel plan G is a better plan 99% of the time, but most of them don't want to hear it. I would love to hear how you approach the topic.

I start by asking for a show of hands anyone who has heard that Plan F is the best supplement. Always get many. Then I tell them I never recommend it and I will show them why.

I pull out the plan grid (page 11 of the Buyers Guide to Medigap publication put out by CMS) and ask them to look at it with me (it's one of my handouts) I explain why those who have it think it's the best--look at the 100% in every row. Then i ask them to look at the next column to the right, Plan G. I ask what is the only difference between those two plans. Earlier in the seminar I've told them about the Part B deductible and told them to remember it when we start talking about med supps.

I have someone in the audience tell me what the difference is. Then I ask if they remember what the Part B deductible is. Most do. I make the point that there is exactly $147 more benefit in F than G. Then I ask, so how do we know which one of these is better. Someone always pipes up, "it depends on the difference in price." I say, "Exactly!" If Plan F's annual cost is greater than $147 over Plan G, then G is better.

Then I talk about the typical $25-30 difference between the two (I realize there are exceptions to this; I don't deal with exceptions). Then on the Power Point deck I show the price difference over time if the two plans increased in price by the same percentage, pointing out that this is conservative, as F often goes up by a higher percentage than G, also reminding them that in the 48 year history of Medicare the Part B deductible has never been higher than $162.

The attendees are clients of financial advisors that host the event. I tell them that if their advisor ever recommended that they spend double the value of an investment with no possibility that the value of that investment would ever be greater than the cost, you'd fire that advisor. I get them to agree with me on that, which they do.

I close by telling them Plan F is the best for one person: the agent who sold it to you. Because it covers everything it has the illusion of being the best plan; but it's only an illusion. What they don't pay their doctors they do pay their insurance company, much more than they'd ever have to pay their doctors with G.

I get approached after every event by people who open by telling me they're one of those who made the mistake of buying F, and can I help. Then I take those F policies and flip 'em like flapjacks. Referrals follow.

 

[agentjhc]

Interesting thread. Any updates from Med Supp seminar presenters?

 

[kgmom219]

Interesting thread. Any updates from Med Supp seminar presenters?

I'm giving one on Friday at an Edward Jones office. I do these about once a month. What exactly are you looking for? The presentation? How to get people in the door?

I do it as Medicare 101. Explain Part A, B, C and D. Whats not covered. IRMAA. Then F, G and N.

Its a long sales cycle. They are typically still working and getting the ducks in a row. I get their info, add them to the mailing list. Follow up 7 months prior to their 65th birthday. Then help with Part B enrollment, the appeal process, enroll them in G and D.

Takes 2 hours total. Usually there is 5-6 people in the room. I will sell 90% of them.

 

[agentjhc]

You guys use your own powerpoint/presentation materials, or do you use carriers materials?

 

[kgmom219]

You guys use your own powerpoint/presentation materials, or do you use carriers materials?

I went to a presentation years ago given by SSA and Medicare. They passed out a powerpoint and I used that as a base, then added/deleted.

Its basically Medicare and You, in bullet points.

ZERO carrier info. This is educational only.

 

[yogooglethis]

The seminars are in three different counties, and MA penetration will be an issue. I am presenting in Bucks County, Philadelphia and Montgomery County. I currently sell a lot of MedSup up in the Allentown and surrounding areas, but this will be my first crack at this market further south.

I don't sell MA or PDP but planned on spending a bit of time talking about PDPs as a way to add value to the whole process.

If you talk about D or C then it's considered an 'educational event" by CMS and you are not allowed to do any marketing before ,during and after the event -In fact you can't even offer them your business card.stick with just med supp and you are good.

 

[vic120]

If you talk about D or C then it's considered an 'educational event" by CMS and you are not allowed to do any marketing before ,during and after the event -In fact you can't even offer them your business card.stick with just med supp and you are good.

I might be mistaken, I think I remember somewhere that if you do these at am employer's workplace it is not subject to the same regs

Now I could be wrong and since I don't plan on doing anything like that it is not something I would have looked too deep at

 

[yogooglethis]

I might be mistaken, I think I remember somewhere that if you do these at am employer's workplace it is not subject to the same regs

Now I could be wrong and since I don't plan on doing anything like that it is not something I would have looked too deep at

I don't think doing a presentation to employees at worksite gives any exemption to CMS marketing rules unless if lets say UHC wants to do a group presentation to a group of employees covered by a UHC EGHP then the rules are different. UHC can call these employees without PTC to convert them to MA plans as well.

 

[kgmom219]

I don't think doing a presentation to employees at worksite gives any exemption to CMS marketing rules unless if lets say UHC wants to do a group presentation to a group of employees covered by a UHC EGHP then the rules are different. UHC can call these employees without PTC to convert them to MA plans as well.

You guys throw out these rules and it makes me question if I really want to get D certified.