MA & Indemnity Plans

[somarco]

Perhaps you need a better clientele. My folks are mostly middle income. A fair number living on SS and no pension. They don't have a problem paying Medigap premiums.

I do however run into people on $0 MA plans that also have HIP, cancer and other fillers that bring their total outlay to $80 - $110/month. Great deal for the agent who makes about a grand off that deal but the poor client still has gaps that can leave them owing several thousand.

Please explain how this approach helps the client.

If they can't afford a Medigap they can't afford to get sick or injured with an MA plan either.

A $40/month premium to keep them out of the poorhouse in the event of a hospital trip makes sense to me.

The lions share of unpaid medical bills occur under Part B.

 

[Fisher]

Perhaps you need a better clientele.

LMAO... Elitist profiling is not a part of my business model.

Carry on.

 

[JimmyUt]

My book is 80% MAPD and I still think the indemnity plans aren't worth it. For the same $40 I feel a small final expense policy is better money spent, or paying $100 and having a Plan N and a drug plan. That being said, I have only had 4 or 5 people ever ask about covering their hospitalization costs, and those folks have a Med supp if they qualify.

 

[GoPokes]

Can anybody tell me how the medico HI plan compares to the GTL?

 

[Experienced Agent]

I have a fair amount of clients purchase GTL. Wrote one today for 65 year old. $32 monthly premium to cover potential $2,125 MA hospital costs for 7 days. I do the math for them, $32 x 12 months divided into $2125 works out that if the client stays in the hospital for 7 days over the next 5.5 years he/she will break even. Of course we don't know what changes will occur with their MA plan over the next 5 years, but the numbers are convincing today.

I would say there is a fair chance a 65 year old could spend a week or two in the hospital over that period of time. I had one client spend 15 days in the hospital this year, GTL saved him over $4,000, as they were two separate stays with more than 60 days in between. The policy resets the benefit after 60 days out of the hospital. He has had a fair amount of outpatient costs, but he never approached what he would have spent with a medigap + PDP

 

[somarco]

I wrote plan N on a 65 yr old female today for $83/month.

$0 OOP for any hospital stay.

 

[plannerman]

I subscribe to the theory of make a choice, pay the premium for the supp with little oop or pay very little or $0 on an MAPD and accept the risk. If you can't accept the risk with a MAPD maybe you should consider the other option?

 

[finalexpenseguru]

I wrote plan N on a 65 yr old female today for $83/month.

$0 OOP for any hospital stay.

what's your point? They also would have to pay for a drug plan which would easily push that over $100 a month. Keep trying to justify your Medicare Supplement when in many cases the Advantage plan is a better option when paired with an indemnity I don't care how you try to spin it.

 

[JimmyUt]

what's your point? They also would have to pay for a drug plan which would easily push that over $100 a month. Keep trying to justify your Medicare Supplement when in many cases the Advantage plan is a better option when paired with an indemnity I don't care how you try to spin it.

No spin needed. Dollar for dollar the mapd and indemnity plan is NEVER a better deal when you factor in network restrictions, part B items billed at 20% coinsurance and on and on. As I said earlier, my book is 80% ma, and that isn't because folks can't afford better coverage, it is because they choose not to.

 

[somarco]

I don't spin anything. Don't have to when you tell the truth and let your client decide which one is best for them. I have done that my entire career. Explain, let them choose.

No selling. Ever.

Also never have to apologize to my clients for leaving them hanging with thousand of dollars of medical bills because there were gaps that the gap plans didn't cover.

This is the no spin zone.