Commission for GI Business

[Todd King]

Frank,

I want to thank you for taking the time to answer this question.

There was another thread in which the same subject came up and I took it as though no one was listening to me when I told them that just because they are in a GI situation does not mean you have to send the app in as GI, you can have them fully underwritten and receive full commissions on it if they can just answer the health questions.

 

[Frank Stastny]

Frank,

I want to thank you for taking the time to answer this question.

There was another thread in which the same subject came up and I took it as though no one was listening to me when I told them that just because they are in a GI situation does not mean you have to send the app in as GI, you can have them fully underwritten and receive full commissions on it if they can just answer the health questions.

Wouldn't it be nice if insurance companies did a better job of keeping agents informed with accurate, easily understood information?

That has probably been my number one complaint of insurance companies. If you and I ran an insurance company things would be different. They just don't seem to have people who understand what we do and the information we need as agents.

 

[Todd King]

Wouldn't it be nice if insurance companies did a better job of keeping agents informed with accurate, easily understood information?

That has probably been my number one complaint of insurance companies. If you and I ran an insurance company things would be different. They just don't seem to have people who understand what we do and the information we need as agents.

I agree!! I do try to keep in mind though, that it did take us a few years to learn what we know. The sales and marketing people at the insurance companies come and go and they only know what they've been told instead of researching it for themselves like we've done. I can understand their lack of knowledge and confusion in certain situations.

Just like two months ago, I had a client turning 65 and his MA company (he was on Medicare Disability) told him he couldn't dis-enroll until the end of the year. He and I did a 3-way call with this CSR and when I tried to politely correct her she got all defensive on me. It ended up getting a little ugly and I just decided not to try and educate her any further and told her just to keep an eye out as to what was happening with him and she would find out first hand!

Needless to say, he is now on a Med Supp and dis-enrolled from his prior MA Plan.

 

[Jarred]

Hi Todd, I am new to the med supp world, and insurance. But are you saying you dont have to wait until the enrollment/disenrollment period to get someone out of a MA?

I thought you were locked in for a whole year with MA's?

 

[jdeasy]

Hi Todd, I am new to the med supp world, and insurance. But are you saying you dont have to wait until the enrollment/disenrollment period to get someone out of a MA?

I thought you were locked in for a whole year with MA's?

In the case he cited the person had an IEP for 65 that he could use to disenroll from the MA plan.

It's really a very simple rule until you try to get the marmadons at an insurance company to apply it.

 

[Jarred]

Please forgive my stupidity.....what is an IEP?

 

[Todd King]

Please forgive my stupidity.....what is an IEP?

IEP stands for Initial Enrollment Period. That is for people either turning 65 or just coming into Medicare for whatever reason, usually Medicare Disability.

The term IEP is really only used when referring to MA Plans. When it comes to Med Supps, you'll usually hear it referred to as Open Enrollment (OE).

In the case I cited, the client was turning 65. He wanted a Med Supp, so I refer to it as OE.

If he were going into a MA Plan for the first time, then we would call it IEP.

Now, to confuse you even more, Medicare itself, (Parts A and B), is also referred to as IEP when a person turns 65, (3 months before and after they turn 65).

 

[jdeasy]

IEP stands for Initial Enrollment Period. That is for people either turning 65 or just coming into Medicare for whatever reason, usually Medicare Disability.

The term IEP is really only used when referring to MA Plans. When it comes to Med Supps, you'll usually hear it referred to as Open Enrollment (OE).

In the case I cited, the client was turning 65. He wanted a Med Supp, so I refer to it as OE.

If he were going into a MA Plan for the first time, then we would call it IEP.

Now, to confuse you even more, Medicare itself, (Parts A and B), is also referred to as IEP when a person turns 65, (3 months before and after they turn 65).

That's what I was explaining as to how he could leave his MA plan. He had an open enrollment for the med sup and he also was in IEP which, while allowing him to enroll in an MA plan, gave him the right to disenroll from his current MA plan so that he didn't have to wait for AEP, {or qualify for an SEP}.

 

[Jarred]

Ok, I got it......since I got into the insurance world, everything is abbreviated......I need to get up to speed. ha ha

 

[Todd King]

That's what I was explaining as to how he could leave his MA plan. He had an open enrollment for the med sup and he also was in IEP which, while allowing him to enroll in an MA plan, gave him the right to disenroll from his current MA plan so that he didn't have to wait for AEP, {or qualify for an SEP}.

I'm sorry JD, I didn't mean to make that sound like I was correcting you or anything, you were dead on. I was just trying to clarify it to him just a little further.