- 15,319
Different strokes. 95% of my Medicare Supp sales are Plan N. Takes a bit of explaining but my clients appreciate the value of the plan.
I love it that others sell Plan F. I call their clients "inventory."
Rick
Why Are my Mutual of Omaha Medigap Rates So High?
- Thread starter somarco
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Different strokes. 95% of my Medicare Supp sales are Plan N. Takes a bit of explaining but my clients appreciate the value of the plan.
I love it that others sell Plan F. I call their clients "inventory."
Rick
- 29,551
Not at all....................
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I tried going with Plan G a few years ago. Even though I explained the savings...that they were paying the extra money for Part B coverage, when they had to pay the deductible...they didn't want it and switched back to F. People like not having to do anything but pay the premium.
- 15,319
Please tell me how many people would rather pay the insurance company $600-800 a year more for Plan F than Plan N. Since it's almost impossible for them to spend more than $300 out of pocket for N I don't see how an agent wouldn't be able to show their clients the value.
The other advantage is that 95% of the agents either are too lazy or ignorant to understand Plan N (and I'm not pointing my finger at you) so it's hard for them to come in behind you. Almost impossible to lose the business unless they die.
Unless there is only a small premium difference between F and N most people will see the light. Maybe it's different in California but even at age 65 I have a $600 annual premium difference. It's more like $1,300 by age 80.
I've done a number of webinars on this subject and how saving them money also gives an agent the ability to cross-sell cancer, FE, Dental, etc.
But as I said, different strokes. I'd love to get a list of people who own Plan F. I'd retire in 2 months.
Rick
- 11,280
If you cannot get people to understand the savings then you may be doing something wrong. I mostly sell G. I only sell F on full moons...
Well, I have a plan F and am thankful.. Plan N is great if you are healthy but I thought people bought insurance in case they got sick. Plan N would have been a terrible plan for me when I was being treated for cancer and was going to the Dr. daily plus having a few ER visits. Even now, between the follow us visits for the heart issues, visits the the head and neck specialist, follow up visits to the radiation oncologist, visits to the primary care physician and visits to the medical oncologist, between the part B deductible and the $20 copay I would pay more than the difference in premium Plus, it is nice to walk out of the Drs. office without paying anything. .
- 15,319
Once in a long while Plan F might work best. But radiation and/or chemo treatment generally won't generate an office visit charge.
However, I'll give you the nod on Plan F for yourself. But total up the cost of F vs. N including all the years you didn't have cancer treatment. One year for one person does not change the value for most people.
Assuming you save $700 up front and $550 after deductible payment, are you telling me you visit a doctor every 2 weeks?
Rick
In my case the math won't work Rick.. I was diagnosed with cancer just 7 months after I became eligible before medicare...
- 15,319
Clearly your needs are unusual. Even in your case after the $500 annual premium savings I doubt the difference in total out of pocket is that dramatic.
But even so, if I tell people that there is one chance a thousand Plan F would save money I'd still write mainly Plan N.
How about Plan N plus a $10K cancer plan at a lower price than Plan F alone? Would that have been a better choice?
Rick
Just tell them you know that "one in a thousand so it can't be them"..
My biggest insurance regret is that i was foolish enough to drop my cancer plan when I redid my insurance when I retired. Wouldn't have made me rich but an extra $17-$20K would have come in handy.
2 quick thoughts... 1st. Not sure if it's nationwide or not, but in OH if someone gets aarp plan N, they can upgrade to F at any time...no underwriting. So, a lot of people get N - if they get to the point where they need/want F, they can do so easily. 2nd. A few of my Plan N clients have said, "we don't see the $20 office copay that we are supposed to have." I can't figure that one out. I hear this at least once a month. Are the physicians just writing it off? Billing something wrong? Not sure...but they aren't complaining. Sent from my iPad using InsForums
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