This is mostly directed at health agents, but anyone can chime in and the rest can learn something about life, DI, LTCi, MA, etc.
When I am talking with a prospect, I ask a lot of questions. Health history is a biggy because I can usually rule out certain carriers or plans depending on what has happened in the past and is going on now.
I also ask how many times they go to the doc, how often (if at all) the take meds, and how much the meds cost.
Most of my clients end up with a plan lacking copays . . . especially those who listen to my advice. Some, like a lady who bought last month, insisted on buying a copay plan. Proving that she did not listen, she called to complain about the fact her meds were not covered by the plan.
I explained the situation (again) and told her I would be happy to show her a plan that would cover her meds for an extra $380 per month.
I also reminded her that the plan I suggested was $280/month (no copays) vs the plan she picked (with copays) for $500/month.
Essentially I recommend a plan I would buy if I were the client. Of course I recognize (and tell them) this is their plan, and their money, and they can buy any plan they like.
I dont really have a favorite carrier, but some are easier to work with than others. I do have some plans I really like and some I dont care for at all.
In reading posts from others, I find it interesting to discover some of the plans suggested to their clients. It makes me wonder just how much the agent knows about the plan and the potential traps.
The ideal plan for most of my clients is a deductible in the $2000 - $3000 range, no copays, 100% coverage above the deductible and no inside plan limits. Ideally the plan will be HSA qualified but some folks are just not ready to pull the trigger (especially on family coverage) with a deductible north of $5,000. Most pre-ex conditions are manageable out of pocket, so riders are not usually an issue. If the condition can lead someon to the ER or have contingent complications, I will suggest paying extra to get a policy with loads vs. riders.
I avoid plans that impose annual limits on certain treatment and plans with copays + a percentage of the remaining balance of the charge.
My preferred plan design are those like the Plan 100 (Golden Rule) and any HSA 100. World has plans that are similar to Plan 100 and I will use them from time to time.
Thats my list. What is yours?
When I am talking with a prospect, I ask a lot of questions. Health history is a biggy because I can usually rule out certain carriers or plans depending on what has happened in the past and is going on now.
I also ask how many times they go to the doc, how often (if at all) the take meds, and how much the meds cost.
Most of my clients end up with a plan lacking copays . . . especially those who listen to my advice. Some, like a lady who bought last month, insisted on buying a copay plan. Proving that she did not listen, she called to complain about the fact her meds were not covered by the plan.
I explained the situation (again) and told her I would be happy to show her a plan that would cover her meds for an extra $380 per month.
I also reminded her that the plan I suggested was $280/month (no copays) vs the plan she picked (with copays) for $500/month.
Essentially I recommend a plan I would buy if I were the client. Of course I recognize (and tell them) this is their plan, and their money, and they can buy any plan they like.
I dont really have a favorite carrier, but some are easier to work with than others. I do have some plans I really like and some I dont care for at all.
In reading posts from others, I find it interesting to discover some of the plans suggested to their clients. It makes me wonder just how much the agent knows about the plan and the potential traps.
The ideal plan for most of my clients is a deductible in the $2000 - $3000 range, no copays, 100% coverage above the deductible and no inside plan limits. Ideally the plan will be HSA qualified but some folks are just not ready to pull the trigger (especially on family coverage) with a deductible north of $5,000. Most pre-ex conditions are manageable out of pocket, so riders are not usually an issue. If the condition can lead someon to the ER or have contingent complications, I will suggest paying extra to get a policy with loads vs. riders.
I avoid plans that impose annual limits on certain treatment and plans with copays + a percentage of the remaining balance of the charge.
My preferred plan design are those like the Plan 100 (Golden Rule) and any HSA 100. World has plans that are similar to Plan 100 and I will use them from time to time.
Thats my list. What is yours?