Do Many of You Sell Plan N?

[senior-advisor-indiana]

Off subject and because I genuinely don't know. What is What is the benefit of having a plan E versus F, G or N?

E has the old $120 preventative benefit that is useless. You had to pay the part B deductible on E also, like the plan G.

 

[Gooner]

E has the old $120 preventative benefit that is useless. You had to pay the part B deductible on E also, like the plan G.

How do rates compare to the other 3 I mentioned. My grandmother has a plan E, I will not be the one to try and change her mind, lol...just curious

 

[Newby]

How do you factor in the increase in issue age into the conversation. I have seen first hand that clients benefit from staying with the same company for long periods of time. For example, I have a number of clients with Plan E (Continental Life) that are 70-72 paying $180/month. Using that logic, would you suggest they switch to Stonebridge Plan N at $143/month? I see the advantages both ways, your saving them money and getting a new commission stream but I would be that Stonebridge will have higher average increases than Continental over the next 3/4 years. I guess I question the idea of rewriting clients to another plan for $100 when everything is working well with their current plan and it has some history behind it. Now when this person makes a jump, they are at age 72 instead of 65.

I have never seen one single example of anyone with any company's Med Sup of any plan that has benefited by staying with the same company for over six years. Seniors are penalized for being loyal to a Medicare Supplement Insurance Company. If they are healthy they should re-shop every time they get an unscheduled rate increase.

 

[kstein]

What is the difference between a scheduled rate increase and an unscheduled rate increase? I have a number of clients who are in their mid to upper 70s that way better off since they stayed with plan E (along with other grandfathered plans) with AARP/BCBS through the years. I think the state may have something to do with it since MO is such a wildcard with anniversary rule.

 

[somarco]

I have never seen one single example of anyone with any company's Med Sup of any plan that has benefited by staying with the same company for over six years.

Things may be different here, and I have not yet completed 4 yrs in the Medigap business but I will disagree. Before you come out swinging , understand this.

Most carriers in GA are issue age
We don't have the birthday or anniversary rule
The carriers I have relied on so far have never had a double digit increase

I checked a rate today for a guy I wrote 3 years ago at his then age 66. To rewrite him today would involve underwriting (no big deal in his situation) and to rate him at age 69.

His age 66 rate still saves him money vs the same plan G with other carriers.

 

[senior-advisor-indiana]

How do rates compare to the other 3 I mentioned. My grandmother has a plan E, I will not be the one to try and change her mind, lol...just curious

She should be able to save a decent amount of money switching to any one of those plans. The only way to know for sure though is run a quote.

 

[GreenSky]

She should be able to save a decent amount of money switching to any one of those plans. The only way to know for sure though is run a quote.

Yeah, but who wants to get rate cards from every company? If only there was way to use that internet thing to get a quote.

Someone should figure out how to do that.

Rick

 

[kstein]

Don't you have to send back vague direct mail pieces to get quotes?

 

[senior-advisor-indiana]

Don't you have to send back vague direct mail pieces to get quotes?

The best way is to go onto net quote and put your info in...

 

[kstein]

Haha I used to do this to my little brother and sister as a prank!