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United of Omaha Underwriting
- Thread starter VaDwayne
- Start date
- Thread starter
- #32
Of couse they are doing this. It is MOO's way of getting agents to write plan N instead of F, because the beneficiary has the copay and part B deductible to pay, which means they will go to the doctor less, which means MOO has less claims to pay.
You know, and I know, that new agents who need money right away will put people in a Plan N, even though another plan may be a better choice, just so they can get their commissions earlier; MOO knows this too.
Keep an eye on this forum in the next couple of years and we will read how people have been switched to plan N, claims experience is really high for the plan N group(adverse selection), and premiums have skyrocketed because of it. They may be uninsurable then, and will have to take whatever MOO hands them, because they will be stuck.
No it's not their way of getting folks to write Plan N. Some of the guaranteed issue plans are pushed through via the computer. I've had some Plan G's and Plan F's that are guaranteed issue be processed in 3 days within the past two weeks. For some reason not all of the GI plans get through the computer system for some reason.
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- 7,066
Suggesting that agents write policies for other companies when MOO is the best investment for their premium dollar sounds like the agent is more concerned about their commission than doing what is best for their new client.
I simply tell new clients that it could take as long as six to eight weeks before they get their policy. Every single one of them has been good with that. An agent doesn't have to tell them that they will get their policy the "next day" in order to make the sale. At least the professional agents don't need to do that.
It was obvious that the delays were going to happen especially with the new standardized Plan N being GI. It started in April. It will get better with time. But, to put them with an inferior carrier at a greater cost simply to get the policy issued more quickly is unconscionable in my opinion.
I simply tell new clients that it could take as long as six to eight weeks before they get their policy. Every single one of them has been good with that. An agent doesn't have to tell them that they will get their policy the "next day" in order to make the sale. At least the professional agents don't need to do that.
It was obvious that the delays were going to happen especially with the new standardized Plan N being GI. It started in April. It will get better with time. But, to put them with an inferior carrier at a greater cost simply to get the policy issued more quickly is unconscionable in my opinion.
- Thread starter
- #35
Sure it is. Did you get the new compensation schedule from MOO? Did you read that they have increased commisions for "Affiliate Company" conversions? Did you see that the increases are only for plans M and N? Why is that? They want us to switch our clients into a plan N, so they don't have as many claims to pay.
Do you guys actually believe that you are doing your customers a favor by saving them $50 a month on their Medicare supplement, and do you believe that they are actually going to have this $50 when they need to pay their co-pays and part B deductible? These people aren't going to go to the doctor when they need to because they won't have the deductible and co-pay
I'm not talking about "country club retirees", I am talking about the person who can barely afford to live.
Just my opinion, but I am a realist, and I think I am right.
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- 15,319
So, let's see. $600 a year savings minus the $155 Part B deductible leaves a net savings of $445. That would pay the copay for about 30 office visits since most of the copays would be in the $15 range.
Yeah, that's a bad deal.
Rick
Yeah, that's a bad deal.
Rick
I don't sell a Med Supp to people who can barely afford to live. I usually enroll them in a Medicare Advantage plan. I guess you sell them a Plan F, huh?
- Thread starter
- #38
I am in no way saying is not a good deal, at least on paper. But a lot of people are not going to put this $445 back for future medical expenses, and when the time comes to go to the doctor or hospital, and they don't have the cash, they won't go.
MOO knows this and that is why they are paying us more to put people in plan N, paying us more commission for "Affiliate Company" conversions, plans M and N ONLY, and taking the risk of adverse selection by putting people into Plan N GI. They know their payment of claims will be less.
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They won't go to the doctor because of a $15 copay but have the money to spend an extra $50 a month for insurance?
How much extra would they pay to the hospital with plan N vs F? (It's a trick question).
Rick
- Thread starter
- #40
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