- Thread starter
- #41
More non sense, putting you on never see again listGo back and read the full story...
Hopefully this time you might get the full comprehension.
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
More non sense, putting you on never see again listGo back and read the full story...
Hopefully this time you might get the full comprehension.
Caveat, I am not an insurance agent.
When I first joined the site and read posts in this sub-forum, one message that came across, with one or two exceptions, was Medicare agents' belief that doing PDP reviews for their Medigap clients was a necessary service to retain the Medigap client and commission on the related Medigap policy.
A number of agents commented along the lines of: The PDP review was so important to Medigap client retention that the agents did the PDP reviews even though they (the agent) received no commission for the PDP sale. It was cheaper to retain the Medigap client, and related Medigap commission, with PDP reviews rather having to replace the client because they went elsewhere to obtain help with PDP review.
Comments in this thread suggest agent views about the PDP product may be changing, to say the PDP is a product separate from Medigap coverage, and the PDP should not be handled if it does not provide separate agent compensation.
In addition to basic economics and insurance, you also need to learn how to read:
From the article:
"In 2023, 30.8 million people are enrolled in a Medicare Advantage plan, accounting for more than half, or 51 percent, of the eligible Medicare population, and $454 billion (or 54%) of total federal Medicare spending (net of premiums)."
"
Key highlights include:
"In 2023, more than half (51%) of eligible Medicare beneficiaries – 30.8 million people out of 60.0 million Medicare beneficiaries with both Medicare Parts A and B – are enrolled in Medicare Advantage plans."
- More than half (51%) of eligible Medicare beneficiaries are enrolled in Medicare Advantage in 2023."
In 2023, nearly two-thirds of Medicare Advantage enrollees are in individual plans that are open for general enrollment.
One in five (about 5.4 million) Medicare Advantage enrollees are in a group plan offered to retirees by an employer or union.
KFF is obviously including group plans in the Medicare Advantage numbers
View attachment 12694Medicare Advantage in 2024: Enrollment Update and Key Trends | KFF
In 2024, more than half (54%) of eligible Medicare beneficiaries are enrolled in Medicare Advantage plans. This brief provides current information about Medicare Advantage enrollment, by plan type and firm, and shows how enrollment varies by state and county.www.kff.org
The word I heard is that CMS stated on a phone call yesterday that PDP plans will have the option to either pay no commission or the full Fair Market Compensation. Seems like to me allowing carriers to go non-commissionable goes directly against the entire thrust of the latest final rule (eliminating the incentive for agents to market only certain plans based on comp).
PDP has increased in work load over the years. A few years ago, we could just do the PDP comparison on the medicare dot gov website, and there was a unique numeric code we could save for each person, to access again each year.Caveat, I am not an insurance agent.
When I first joined the site and read posts in this sub-forum, one message that came across, with one or two exceptions, was Medicare agents' belief that doing PDP reviews for their Medigap clients was a necessary service to retain the Medigap client and commission on the related Medigap policy.
A number of agents commented along the lines of: The PDP review was so important to Medigap client retention that the agents did the PDP reviews even though they (the agent) received no commission for the PDP sale. It was cheaper to retain the Medigap client, and related Medigap commission, with PDP reviews rather having to replace the client because they went elsewhere to obtain help with PDP review.
Comments in this thread suggest agent views about the PDP product may be changing, to say the PDP is a product separate from Medigap coverage, and the PDP should not be handled if it does not provide separate agent compensation.
Looking at the data, it appears several leaders from the last decade (+) have racked up quite a bit of national debt, printing a lot of new money, the ripple effect is ongoing. Biden might even pass up Trump, but he's not quite there yet... trump is still winning... could they both be unfit for the role, or do we have to pick a side?the reason the views have changed is because of bidenflation.
The word I heard is that CMS stated on a phone call yesterday that PDP plans will have the option to either pay no commission or the full Fair Market Compensation. Seems like to me allowing carriers to go non-commissionable goes directly against the entire thrust of the latest final rule (eliminating the incentive for agents to market only certain plans based on comp).
The new rules makes the carriers eat the cost of the part d standard model 590.00 deductible , whether or not the plan has a deductible and also eat the 25% coinsurance if a member reaches the 2000.00 cap.IMO if more PDP plans are non commishy in 2025 it will be plans with no/low deductible and robust formularies.Metformin we pay you.Ozempic-no commision for you!
Comments in this thread suggest agent views about the PDP product may be changing, to say the PDP is a product separate from Medigap coverage, and the PDP should not be handled if it does not provide separate agent compensation.
It seems to me the thrust behind @hockeyday 's statement was that many agents will be making noticeably more than 50% of their current, new, sales with MAPD's rather than a Medigap -- PDP combination of products.View attachment 12693
Medicare Advantage in 2024: Enrollment Update and Key Trends | KFF
In 2024, more than half (54%) of eligible Medicare beneficiaries are enrolled in Medicare Advantage plans. This brief provides current information about Medicare Advantage enrollment, by plan type and firm, and shows how enrollment varies by state and county.www.kff.org
caveat, you're not an agent.It seems to me the thrust behind @hockeyday 's statement was that many agents will be making noticeably more than 50% of their current, new, sales with MAPD's rather than a Medigap -- PDP combination of products.
I think your chart supports that idea.
All right.caveat, you're not an agent.
@hockeyday can speak for himself.