Sorry.. Small keyboard and thick fingers ... I have corrected it to 100%
Another MA article.
- Thread starter Cornelius
- Start date
- 1,745
Haven't had a lot of MAPD drop outs, but the point of insurance is for the potentially unlikely and unforseen events. Early in Medicare, at a WalMart table (which I have no time to do now--but a great start) a person came by to ask if there was any way to get free of their MAPD, as the one doctor who was critical for their care had left the plan's network. Back then in our area there weren't many MAPD carriers. I believe it must have been in the 1st year of having an MAPD, didn't have to pass underwriting, and was very grateful. So far the T65 clients who only wanted an MAPD, but dropped out in the first year to go on a MedSupp had some pretty catastrophic medical events. They are super grateful to be on MedSupps. The other point about this is the changing of doctors and facilities that can happen in any MAPD renewal, or mid term. Some are fine with that risk, or didn't pick up on it when signing up.
If you have been through it 2x then obviously it works for everyone all the time.
The problem is people will not want to "drop out" until they are very sick and dealing with the moop and access problems and then they can't drop out becase they can not pass med supp underwriting.
If I sold mapd, I would have every client sign a document understanding they must pass underwriting in order to return to a med supp. Wonder if any agents do? Or wonder how stern they are when disclosing, if they disclose? That should the purpose of a scope
- 2,229
Those free Uber rides to get free lottery tickets are hard to give up.
If I begged my clients to go back to a Med Sup and a shitty PDP they wouldn’t. No reason for a disclosure. They would laugh at me.
- 2,229
I don't require a signed form but I make damn sure they know the repercussions.
Actually there is a way to get on a Medicare Supplement without underwriting. But it's time consuming and extremely risky. I've used it a couple of times but I don't think I'd ever recommend it.
Both times it involved a business owner that hadn't started his Social Security yet. Both had stopped paying their quarterly Part B premium and their Part B had lapsed.
I simply had them complete a new Part B request form 40B during the GEP. Their Part B coverage starts like new on July 1.
Since all Supplement companies go by your Part B effective date and not A, the client automatically has a brand new 6 month window with no health questions.
And yes in both cases they were popped later with a LEP.
But again, although doable I wouldn't recommend it.
Are you even a serious Medicare agent that knows all the in and outs of it? Comments like this make me wonder. Sure you are a nice guy but feel like you have never even compared the different options but read Somarco’s articles and think they must be gospel. Do some research yourself and see what you think.
- 2,229
Probably a good thing.
Supplements have a monthly premium and are sold by insurance agents. Are you sure you could do that?
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