Letter

[annon123]

Yup...and the real solution is to get all these damn medication costs much lower, just like in other countries.....

Yes. Not to mention seniors are the ones who pay the higher prices to make up for "lost" profits in other markets nationally and internationally. The Inflation Reduction Act of 2022 is a start but doesn't go nearly far enough.

Yes the price of drugs would go up in other markets if senior drug costs could be negotiated as they are in literally every other market nationally and internationally, and pharma didn't charge more to seniors, but at least seniors wouldn't be footing the bill for everyone else to have lower costs.

 

[annon123]

Another thing most agents should be doing is seeing if anyone is on super expensive meds and looking to see if the manufacturer themselves has a discount program. Get the RX companies themselves to pay for it and not insurance.

One of the problems with these programs is that anyone on medicare of any flavor is often excluded from the discount programs. And it can get trickier if the drug in on the formulary rather than not on the formulary. But, of course, if no one looks, any drugs with discounts that include seniors will be missed.

Also discount coupons like those from GoodRx, SeniorCare, etc. can undercut PDP prices. It would take the senior to then turn in proof of purchase to whomever their PDP is with to get that expenditure deducted from their PDP deductible/out of pocket max. I have found many seniors don't realize they can use the coupons (provided they use them instead of using their PDP) nor do they know that expenditure can be counted towards their deductible/out of pocket or how to go about doing that.

 

[Newby]

They don't pay commissions on the plans that they don't want. How hard is that to understand. They don't want the GI cases on Med Sups. They don't want RX plans or MAPDs that they are losing money on. They can't pull out mid year so they chop the commissions.

 

[EckoRomeo]

They don't pay commissions on the plans that they don't want. How hard is that to understand. They don't want the GI cases on Med Sups. They don't want RX plans or MAPDs that they are losing money on. They can't pull out mid year so they chop the commissions.

It's almost like some of these guys don't understand how business works. How many agents continue to buy leads when they aren't profitable just because they "care" about the lead vendor?

 

[LostDollar]

One of the problems with these programs is that anyone on medicare of any flavor is often excluded from the discount programs. And it can get trickier if the drug in on the formulary rather than not on the formulary. But, of course, if no one looks, any drugs with discounts that include seniors will be missed.

Also discount coupons like those from GoodRx, SeniorCare, etc. can undercut PDP prices. It would take the senior to then turn in proof of purchase to whomever their PDP is with to get that expenditure deducted from their PDP deductible/out of pocket max. I have found many seniors don't realize they can use the coupons (provided they use them instead of using their PDP) nor do they know that expenditure can be counted towards their deductible/out of pocket or how to go about doing that.

Caveat, not an agent.

So how does one go about getting drugs purchased by coupon or cash to count towards a PDP deductible?

 

[somarco]

They don't pay commissions on the plans that they don't want. How hard is that to understand.

Sometimes the obvious is difficult for some to grasp. Occam's razor isn't always part of their repertoire.

On another note, it isn't clear to me if the OP's letter is meant to be offered to their policyholders or just a way of venting frustration.

I have never made a "big deal" about how much, or how little, I am paid from a sale. Even when a prospect asks what "my cut" is, I politely decline to give an answer because it is really none of their business.

On occasion I will write a low commission plan because it is the right thing for my client, but that is not a regular habit. Telling someone how much I earn (or don't earn) on a sale may sound whiny to them, so I just don't say anything.

But that is me and everyone has to deal with life based on their perspective.

 

[LostDollar]

They don't pay commissions on the plans that they don't want. How hard is that to understand. They don't want the GI cases on Med Sups. They don't want RX plans or MAPDs that they are losing money on. They can't pull out mid year so they chop the commissions.

(The background to the question I am asking you below is -- I have been trying to buy annuities, I MUST buy them through an insurance agent but I am not the "annuity client profile" an insurance agent wants to have so they don't want to talk to me.)

But for these Medicare products you are talking about: Medigap, PDP, and MAPD the Medicare Beneficiary can get them straight from the carrier themselves, is that right?

 

[LostDollar]

Sometimes the obvious is difficult for some to grasp. Occam's razor isn't always part of their repertoire.

On another note, it isn't clear to me if the OP's letter is meant to be offered to their policyholders or just a way of venting frustration.

I have never made a "big deal" about how much, or how little, I am paid from a sale. Even when a prospect asks what "my cut" is, I politely decline to give an answer because it is really none of their business.

On occasion I will write a low commission plan because it is the right thing for my client, but that is not a regular habit. Telling someone how much I earn (or don't earn) on a sale may sound whiny to them, so I just don't say anything.

But that is me and everyone has to deal with life based on their perspective.

You have described some of the basic reasons I have continued to attempt to deal with the emotional stress of "bash LD" here when strongly encouraged to leave the site and not come back.

1) I can see some info about products that might otherwise not come to my attention. (Examples might be HDF medigap or Wellcare PDP)

2) I can sometimes have a sense of what some professional agent judgements might be about a course of action I am considering which will give me a better sense of risk I might be taking if I pursue an action.
(Examples might be buying issue age Medigap in an attained age state or deliberately hurrying to buy into a Medigap book of business I know will be closed within 1-3 months.)

3) I can get a narrow perspective on the insurance business from the agent's point of view which sometimes helps me to know that something an agent tells me is a more general business based perspective rather than an "attack" on me personally.

4) And I learned that there are such things as individual insurance agents who sell products like this as an alternative to my having to go to the online sites that sell Medigap products.

 

[Medicare bro]

Sometimes the obvious is difficult for some to grasp. Occam's razor isn't always part of their repertoire.

On another note, it isn't clear to me if the OP's letter is meant to be offered to their policyholders or just a way of venting frustration.

I have never made a "big deal" about how much, or how little, I am paid from a sale. Even when a prospect asks what "my cut" is, I politely decline to give an answer because it is really none of their business.

On occasion I will write a low commission plan because it is the right thing for my client, but that is not a regular habit. Telling someone how much I earn (or don't earn) on a sale may sound whiny to them, so I just don't say anything.

But that is me and everyone has to deal with life based on their perspective.

I sent this letter to my Senators and Congressmen and women. I also sent this my FMO and clients. I love helping, I take joy in helping, but I cannot do this for free.

 

[rmhaire]

You have described some of the basic reasons I have continued to attempt to deal with the emotional stress of "bash LD" here when strongly encouraged to leave the site and not come back.

1) I can see some info about products that might otherwise not come to my attention. (Examples might be HDF medigap or Wellcare PDP)

2) I can sometimes have a sense of what some professional agent judgements might be about a course of action I am considering which will give me a better sense of risk I might be taking if I pursue an action.
(Examples might be buying issue age Medigap in an attained age state or deliberately hurrying to buy into a Medigap book of business I know will be closed within 1-3 months.)

3) I can get a narrow perspective on the insurance business from the agent's point of view which sometimes helps me to know that something an agent tells me is a more general business based perspective rather than an "attack" on me personally.

4) And I learned that there are such things as individual insurance agents who sell products like this as an alternative to my having to go to the online sites that sell Medigap products.

Ain't nobody bashing you.

You're as welcome on here as the rest of us.