Attention MedSup Salesmen -- To Sell PDPs or Not?

[GoCubsGo]

IMHO if an agent is using his or her perceived expert advice on all the parts of Medicare including part D , even he or she is not contracted with any part D carriers, as leverage to get an appointment in Medicare household to sell Medicare supplement then that agent is indirectly being compensated from from the part D program.

Let me put this in a different perspective.How many appointments would a pure play Med Supp agent miss out on if they flat out told prospects when cold calling to set appointments that I they there will not be any discussion about specific part D plan benefits during the meeting.I guesstimate that 30-40% of the seniors I talk to want to talk about part D more than they want to talk about the medical benefits.

I wish like hell I didn't ever have to talk about part D again but I can't see were I can be the " Medicare insurance guy " that is coming to their home to explain all the " parts " of medicare and not actually being certified to to take applications for all plans.

That's a hurdle that if you work at it you can get over it. Good Luck!

 

[Midlevel]

Offer them a MAPD plan and their prescriptions will be taken care of. I like the prescription plan built in these plans better then the individual pdp with a premium and deductible.

I realize not everyone wants that sort of plan so I also offer them 9 different stand alone PDP's. Seniors really appreciate the help with their PDP because it is sometimes more confusing than their Health Insurance.

 

[SportsNut]

For those with a computer I talk them thru the enrollment process on med.gov. Those without the computer I give them the 800# of the pdp company for enrollment. I've decided that certifying with pdp companies for the menial remuneration isn't a good use of time.

Clients are very appreciative of having someone to rely to assist with selection of a good pdp choice. Most are othewise lost in this process and waste $$$ on the wrong plan. I think that this will help in persistency of supp clients, over time. I've had more than a few want to pay me for the analysis work, since I tell them that I receive NO compensation from the pdp company. I just tell them that this is part of the full service that they can expect year after year.

Frankly, pdp's seem like a good prospecting tool to me...

 

[Chazm]

How are you getting $50 for it?

I only write T65's but to tell you the truth I've only be paid the initial $28 so far. I'm pretty sure I will be paid $53 though

 

[sman]

I only write T65's but to tell you the truth I've only be paid the initial $28 so far. I'm pretty sure I will be paid $53 though

You won't get paid $53 on First Health Part D Value Plus. They pay a one time referral fee of $28.

 

[Midlevel]

Yeah, $28.00 is it. No renewals which sucks. Had one call me the other day because she got a coupon book and wanted bank draft. Had to tell her I couldn't call First Health because I am not the agent of record, I only referred her to it. Not how I want to service my client's and can't believe they are saving enough by not paying us to make up for the extra people they have to answer phones during AEP, etc.

 

[Rearden]

Thanks everyone -- I appreciate the insight.

 

[yogooglethis]

That's a hurdle that if you work at it you can get over it. Good Luck!

I understand that creative minds can work around this but the other issues I have with not writing the part D application yourself is you are putting a big target on your Med supp client to be called from the part D carriers captive sales force if they offer MA plans. I suppose if I wasn't certified to sell part D I would recomend the most cost effective part D plan available for the client that doesn't also offer MA.Just kidding (sort of)

Also if you train your client that selecting a part D is an easy DIY project they may also think that buying a Med supp is so easy that even a caveman can do it.

I guess I just want the to be the guy my client thinks of calling whenever they have a question about any " Part " of Medicare.

 

[billyg]

Assist in showing them how to go about finding out which drug program is best, but not to actually sell them, due to the agent potentially being the scapegoat for a formulary change outside of your control.

When I started, I did this. However, I found too many people not following through on their own (comp illiterate or lazy or don't understand, etc.). This leads to future PDP penalties, so now I do it for them (at least the T65s). If I am going to do the work, I might as well earn the $53 for the effort. At least thats the way I see it.

 

[eharriett]

PDP sales are part of the supplement service we provide. Yah, it means we've got to go through the whole SOA process, but it worth it.

Not every one, but most every supplement referral we've ever gotten is because of our work with clients on their drug plan.

Get a system in place for collecting the Scopes over 48 hours in advance -- which can be hard, trial and error work -- and the rest of the PDP/supplement sales equation is a cakewalk.