Would love to hear from forum members on the perspective that the Medicare supplement market (vs Medicare Advantage) is similar to a high risk pool, with the eventual problems of many many people on them who are sicker and aging and that they pricing on the existing blocks of business will eventually explode. Somehow, I dont think this opinion is far off as I see my current block of Aetna supplement business price increases becoming ridiculous. I sometimes think I regret NOT selling more MAPD earlier in my career.
Its hard to compete when every other commercial on TV and radio during AEP is pimping all the extra freebies (dental, otc medications, groceries, vision benefits) that every MAPD is now offering. Its to the point of incredibly ridiculous. Im almost to the point that if you can't beat em, join em. I feel like my Medicare supplement biz is a ticking timbomb of explosive rate renewals, regardless of company.
You aren't new to the game, so you know this. One of the most consistent axioms in sales is, "find out what people want - and help them get it."
I chose early on to sell both.
Is Med Supp more comprehensive? Yes.
Is Med Supp more flexible - allowing for almost any provider? Yes.
Is Med Supp more stable - benefits guaranteed for life? Yes.
Does Med Supp preserve their Access to Care in a much better way? Yes.
Do people care? No. Well, some do. But many do not.
Should I sell Med Supp only and endlessly warn them that, by choosing MAPD, they'll pay 20% for chemo, and may not be able to go to their favorite doctor, and sound (to them) like a "sky is falling" desperate agent on the other end of the phone who just wants a commission from the high priced Med Supp plans - only to have them ignore my advice and enroll in a mapd using another agent or carrier directly? (not saying this perception would be true. It wouldn't be. The warnings are legitimate. But, again, their perception is that I just want them to pay a higher price - and they don't care what I want them to do).
All that to say, I'd rather sell both - and then help them find the most reasonable fit if they do choose MAPD over Med Supp after some discussion.
People who buy MAPD often will just "pick one" and make a potentially bad situation worse. By working with them, I'm able to get a full list of doctors, hospitals, and medication - and find a plan option which fits all three major criteria. At this point, I fell like I really did provide them a service, and I also believe that I've helped them gain access to care at least for the current year.
Many of my MAPD clients have been on $0 MAPD for 5+ years with no complaints. They've had no issues with access to care.
People who are prone to purchase MAPD will purchase MAPD no matter how much better Med Supp may be. I may as well earn $482/$241 for doing a comprehensive evaluation for them and helping them choose among the many MAPD options - helping them get the one that will work well for them based on their doctors, their medications, and their preferred hospital systems.
You want no copays? Let me help you get that. You want to pay $0 monthly? Let me help you get that (either way, I'm the one going to get paid).