June 1, 2010

[Frank Stastny]

I imagine there will be some demand for these plans for new enrollees, but those who like their existing plan may resist any type of change - especially if it is perceived as a loss of coverage.

Although we can only speculate at this time, it is conceivable that after the reduction of government money the HMO's are currently receiving all those little extras may not be offered in the future.

Just another thing that we need to be watching for.

 

[moonlightandmargaritas]

Very true Frank.

 

[G.Gordon]

And those lil'extras aren't really of great benefit anyhow. When I ask a potiental client how often they've used the vision/dental benefit I have rarely heard someone say they have recieved a value out of it. It's very limited and does nothing to protect them from serious expenses or give them unlimited access to providers of their choice.

If I remember right I have about 14 or more already lined up to get off MA's this season.

 

[insurance0707]

They should come out with a Plan O....it would have the same benefits as Plan N plus Part D prescription coverage. When I was offering MAPD plans in 2007-2008 the retiree's really liked having their medical and prescription coverage all under one plan.

 

[G.Gordon]

They should come out with a Plan O....it would have the same benefits as Plan N plus Part D prescription coverage. When I was offering MAPD plans in 2007-2008 the retiree's really liked having their medical and prescription coverage all under one plan.

I'd disagree. When you explain to most MAPD insureds that there are 48 PDP plans available and if they weren't on that MA they could choose the one best for them they are interested. Most drug plans hard writen into the MA's are short on benefit (co-pays high and formulary issues) and don't give the senior the best bang for their drug $$'s. I remember one case in particular where choosing a better drug plan darn near paid for her purchase of a med sup with the cost savings on the drugs alone.

 

[policy doctor]

remember one case in particular where choosing a better drug plan darn near paid for her purchase of a med sup with the cost savings on the drugs alone.

So GG...which one did you use? Sometimes I find they need to buy the higher cost plan if they're on a lot of pricey meds. I don't think there is much diff between companies..formulary is pretty standard. I use AARP RX most of the time, anyway.

 

[sman]

I don't think there is much diff between companies..formulary is pretty standard. I use AARP RX most of the time, anyway.

If you aren't running a comparison to see which plan is best for your client, then you are doing them a disservice. That's not to say AARP can't be competitive, but if you are just advising the client to go with AARP regardless of their meds, you could be hurting the client. Based on my experience, AARP has rarely been the best plan for my clients.

 

[policy doctor]

ok...so who or which co are you using?

 

[sman]

ok...so who or which co are you using?

The one that is best for the clients situation. I am contracted with several carriers. And when the comparison shows that the client is better off with someone I'm not contracted with (such as Medco), I help them enroll in that plan. I would say the plan thatI used most this year for Part D was Coventry, followed by Wellcare, then maybe PrescribaRx. I am contracted with most all carriers that will contract with agents.

What I would love to see is some type of standardized Part D plans like we have with supplements. Then all we would be doing is comparing monthly premiums. That would make it much easier.

I personally feel that anyone just recommending one carrier because it's "easier" can't always have the clients best interest in mind. Does it cause more work? Absolutely. Does the client appreciate it? You better believe it. Does the client refer others to me? All the time.

I'm not telling you how to run your business, but I get great sense of reward and accomplishment when I show someone how they can save $700, $800, $900 even $1,000 by switching their prescription plan. And they are VERY appreciative. It's a loss leader. I don't really make any money (not worth shouting about - and you already know that) on Part D, but I more than make up for it through cross-selling investments and getting referrals.

 

[motorcyclegogo]

Exactly. What plan a client will best be served by is five minutes of data entry away. We also rep. for several plans, but don't hesitate kicking a client to a plan we don't contract with if it's better for them.

Right choice for me = $25/commission
Right choice for them = $hundreds in savings + referals out the arse.