2009 Medsupp Premium Increases

[G.Gordon]

Won't American Continental cancel your contract for replacing business and keep your future commissions if they find out?

Not if you don't sign that type of contract.

I refuse to. AC came out with a contract that eliminated that clause due to the bad reputation they got from Cont. Life issues.

Sterling has the same clause, but not in my contract.

 

[MedSuppPro]

G.Gordon,

Add to your list American Republic. They tried to add the "Back the moving van up to your house clause"! Their clause added the cost of their lawyer to the stealing of your commissions. I also had their stupid clause removed!

How could any agent sign such a restrictive clause? Answer: Most agents fail to read their contracts!

 

[retread]

I can see it with Med Sups but I would NEVER sell a Long-Term Care policy from a weak no-name low-rated company like National States.

Just one look at their web site just screams "We MIGHT be here next year too." Something about them doesn't pass the smell test with me.

Kinda like PTNA, no? I tried to raise this issue with my FMO who promoted this dud last year. Guess we don't have to worry about it anymore.... And the agents who got suckered into selling it... will they ever get commissions? Duh!

On another note: How are you all thinking about the fact that all Medigaps will be completely overhauled in about 18 months? I understand that premiums will be reduced... (which, being interpreted means lower commissions). You gotta consider this before signing any long-term contract or expect that this market will continue on as usual..... Just a thought.

 

[Russ]

Kinda like PTNA, no? I tried to raise this issue with my FMO who promoted this dud last year. Guess we don't have to worry about it anymore.... And the agents who got suckered into selling it... will they ever get commissions? Duh!

On another note: How are you all thinking about the fact that all Medigaps will be completely overhauled in about 18 months? I understand that premiums will be reduced... (which, being interpreted means lower commissions). You gotta consider this before signing any long-term contract or expect that this market will continue on as usual..... Just a thought.

What kind of changes are they going to make to them?

 

[retread]

What kind of changes are they going to make to them?

Someone better informed than me needs to reply to this.

 

[azmedsupagent]

Kinda like PTNA, no? I tried to raise this issue with my FMO who promoted this dud last year. Guess we don't have to worry about it anymore.... And the agents who got suckered into selling it... will they ever get commissions? Duh!

On another note: How are you all thinking about the fact that all Medigaps will be completely overhauled in about 18 months? I understand that premiums will be reduced... (which, being interpreted means lower commissions). You gotta consider this before signing any long-term contract or expect that this market will continue on as usual..... Just a thought.

I do not think that medicare supplements will change very much if any at all. The only thing they are talking about changing is the elimination of some benefits that dont get used very often like at home recovery, foreign travel coverage etc... If premiums go down that means coverage will go down but I dont think it will be anything significant if anything happens at all. There is really nothing else that they would want to change other than adding prescription coverage again but that ofcourse would mean increased premiums. What you should really be concerned about is the change in the MA market. Is that what you meant in the first place by the way? I like to stay on top of this kind of stuff and I really had to dig to find anything on changing medigap plans. Everyone seems to be pretty happy with the effects of standardization. Also, if medsupp plans do change it wont be untill large changes are made to medicare as a whole, whatever changes happen will be good for agents because medicare is not getting any stronger and there will only be more gaps to fill as time goes on making our product even more of a necessity

 

[G.Gordon]

1. All plans lose At Home Recovery, preventative care, and one other benefit I can't remember
2. All plans get Hospice Care
3. With the changes some plans will be duplicated so the lowest letter wins.

J becomes F
E become D
H or I become G

Also... excess benefits on G goes to 100%

 

[Frank Stastny]

1. All plans lose At Home Recovery, preventative care, and one other benefit I can't remember
2. All plans get Hospice Care
3. With the changes some plans will be duplicated so the lowest letter wins.

J becomes F
E become D
H or I become G

Also... excess benefits on G goes to 100%

I'm curious, where did you get your information? I haven't seen anything official on that and I would like to get a copy.

I believe all plans have Hospice Care now, at least they do in the information I have.

 

[retread]

I'm curious, where did you get your information? I haven't seen anything official on that and I would like to get a copy.

I believe all plans have Hospice Care now, at least they do in the information I have.

Hospice is Part A of Medicare. No need for Supplement or Medicare Advantage, it is always covered.

All MA plans just list hospice care, they don't modify the benefits because the rule "MA plans can never offer less than Original Medicare benefits". They must list the benefit, but nobody improves on OM as far as I can tell.

(See page 19 for description and page 125 for cost benefits in the 2009 Medicare & You booklet)

 

[G.Gordon]

I'm curious, where did you get your information? I haven't seen anything official on that and I would like to get a copy.

I believe all plans have Hospice Care now, at least they do in the information I have.

The NAIC web site. I couldn't find it today, but I'll try to look over breakfast.

Hospice is added to supplements. Why... I don't know. I think it will be a mandated benefit above/beyond what Medicare covers currently.

Bottom line... it is on the new design that will be effective 6/10