Selling Med Sups Over The Phone!

[sman]

Since it's rare that anyone shops their own supplement, it's damn near impossible to lose someone unless you write crap carriers who's initials are similar to the sound a cow makes.

Rick

They have some funny cows out in California. I've never heard one make a sound like A-A-R-P.

 

[scagnt83]

Anyone can just say "my Plan F is the same as your current Plan F for $30 less per month." It takes knowledge of the product to show the value of Plan G or N.

Hypothetically, what would be the main selling point of the G or n over Plan F?

Isnt the difference just in the part B deductibles? So if you can cover the deductibles you can get a lower MedSup premium, and Im guessing a lower overall out of pocket cost for the year?

 

[sman]

Hypothetically, what would be the main selling point of the G or n over Plan F?

Isnt the difference just in the part B deductibles? So if you can cover the deductibles you can get a lower MedSup premium, and Im guessing a lower overall out of pocket cost for the year?

The ONLY difference between Plans F & G is the Medicare Part B deductible of $147. In some areas, the difference in premium can be as much as $400 per year. Plan N doesn't pay the deductible either, but also has copays of up to $20 for some doctor visits, a $50 copay for ER visits and doesn't pay Part B excess charges which don't come into play too much. The difference in premium for Plan N compared to G can be $15-$30 per month depending on area and age. For example, in my area, the lowest premiums for a 65 year old female are as follows (not necessarily the same company):

Plan F - $129.42
Plan G - $104.40
Plan N - $87.92

 

[scagnt83]

The ONLY difference between Plans F & G is the Medicare Part B deductible of $147. In some areas, the difference in premium can be as much as $400 per year. Plan N doesn't pay the deductible either, but also has copays of up to $20 for some doctor visits, a $50 copay for ER visits and doesn't pay Part B excess charges which don't come into play too much. The difference in premium for Plan N compared to G can be $15-$30 per month depending on area and age. For example, in my area, the lowest premiums for a 65 year old female are as follows (not necessarily the same company):

Plan F - $129.42
Plan G - $104.40
Plan N - $87.92

So if someone goes to the doctor a lot G looks better than N (generally speaking).
If they dont see the doctor often N is probably the better value. Correct?


So unless someone just wants Plan F, or cant afford the possibility of a $147 deductible all at once. Is there any reason to sell F over G or N?

Is F considerably closer in premium to G in some states vs. others? (I know it will vary, but does it make sense from a premium standpoint in some states to go with F over G?)

Thanks for the info

 

[GreenSky]

So if someone goes to the doctor a lot G looks better than N (generally speaking).
If they dont see the doctor often N is probably the better value. Correct?


So unless someone just wants Plan F, or cant afford the possibility of a $147 deductible all at once. Is there any reason to sell F over G or N?

Is F considerably closer in premium to G in some states vs. others? (I know it will vary, but does it make sense from a premium standpoint in some states to go with F over G?)

Thanks for the info

The difference between F and N grows greater with the age of the client. My mother is over 80 and if I move her from N to F it would cost about $1,400 more per year.

There is no way anyone could have enough office visits to eat up that much in premium.

And you are correct about some states with narrow premium difference between F and G. I ran a quote yesterday for someone in northern Kalifornia and there was only about a $75 difference.

Rick

 

[scagnt83]

Good to know. Thanks guys. MedSups are an area I have been meaning to learn more about. I know enough to be dangerous... lol. But I do get questions from time to time, and they seem to be coming more often here recently.

 

[smokin goose]

I'm learning med supps now. I just have 10 med supp clients, but 5 of those are F. Four of those were T65s.

I explain G and N, but some of them just don't seem to care. Their friends or family told them to "get F" and that's what they want.

I even explained on the T65s that the margin of savings can increase over time with G.

How many of you seasoned med supp agents run into this?

 

[senior-advisor-indiana]

I'm learning med supps now. I just have 10 med supp clients, but 5 of those are F. Four of those were T65s.

I explain G and N, but some of them just don't seem to care. Their friends or family told them to "get F" and that's what they want.

I even explained on the T65s that the margin of savings can increase over time with G.

How many of you seasoned med supp agents run into this?

I run into that every now and then. Just sell them the F. I don't do many T65 it's not uncommon(in my experience) for them to buy what their friends or relatives told them to buy.

 

[somarco]

If you don't give them what they want, someone else will, Goose.

Run into it quite a bit.

My friend has F and says it pays for everything. That's what I want.

My response, "I wonder why they never mentioned plan G? Almost everyone that compares buys G and never looks back. Let me show you the difference and you decide. Then maybe you can introduce me to your friend."

 

[GoPokes]

I'm learning med supps now. I just have 10 med supp clients, but 5 of those are F. Four of those were T65s.

I explain G and N, but some of them just don't seem to care. Their friends or family told them to "get F" and that's what they want.

I even explained on the T65s that the margin of savings can increase over time with G.

How many of you seasoned med supp agents run into this?

Ive been doing F2F medsupps for awhile now, would like to try the phone sales at some point, been thinking about trying westfalls method.

T65 is also my main source of medicare prospecting these days, and I do run into that same issue sometimes. I have to remember that the customer doesnt always want the same thing I do (savings) sometimes the peace of mind is worth the premium to them. Just Sell the F if that's what they want