Medicare Supplement Carrier Misled Consumers

[goillini52]

The fact remains that in almost every analysis the lowest costing Plan F is still a better econimic value than the lowest costing Plan G while factoring in the annual Part B deductible. Also, as the insurance companies email out the rate increasses throughout the year, in many of the increases I notice the plan F goes up at a higher rate than the Plan G.

I cant imagine any agent who feels in their heart of hearts they are doing right by the client, advising them to buy a Plan F when they know that no new younger people will be coming into the policy 2020 and anyone who is healthy, and has a GOOD AGENT, are being motivated to get out of an F and get into a G.

I have determined the ONLY reason an agent is recomended a Plan F to their clients (other than in a guranatee issue situation) is to pad their commission.

The marketing materials were created in bad taste to "scare" prospoects into buying. Not cool. Yes they should be sanctioned. But let's be real.....We all know Plan F is a no bueno when a G is available and econimically better.

Huh? Either this is a typo, or you're contradicting yourself in the same post.

 

[Midlevel]

Not sure Joe has any idea what he's talking about. Not making any more commissions off the F Plan than we do the G plan. I have been hearing the Part B deductible could be as high as $1500 by 2020. Bet all your G plan client's will love you when that happens. Don't think the Gov't won't raise that Part B premium once they get all the people flocking to the G plan where they have to pay it themselves. They are even smart enough to understand that $200 won't keep them from going to Drs. but $1500 may make them think a little before going.

 

[goillini52]

Not sure Joe has any idea what he's talking about. Not making any more commissions off the F Plan than we do the G plan. I have been hearing the Part B deductible could be as high as $1500 by 2020. Bet all your G plan client's will love you when that happens. Don't think the Gov't won't raise that Part B premium once they get all the people flocking to the G plan where they have to pay it themselves. They are even smart enough to understand that $200 won't keep them from going to Drs. but $1500 may make them think a little before going.

If Plan F is $1,800 and Plan G is $1,500, Flan F would pay more than Plan G. When you take the $166 off for the Part B Deductible, you're getting paid on $1,634 for Plan F and $1,500 For Plan G. At 21% commission you'd make an extra $28.27 on Plan F. There are a couple of companies that pay on the Part B Deductible.

 

[Midlevel]

The company I write mostly now takes $175.00 off for the Part B premium of $166.00. I suppose it is a few dollars more for writing the F plan but that $1.50/month is not the reason I prefer F over G. To each his own I guess, I'm just waiting until 2020 where I believe Medicare Advantage will explode with new members.

 

[goillini52]

The company I write mostly now takes $175.00 off for the Part B premium of $166.00. I suppose it is a few dollars more for writing the F plan but that $1.50/month is not the reason I prefer F over G. To each his own I guess, I'm just waiting until 2020 where I believe Medicare Advantage will explode with new members.

Some companies take off $200 for the $166 Part B Deductible(which sucks).

 

[kgmom219]

For the 10th time this week:

(And I don't market direct to consumers, so its not like I'm bringing people in with scare tactics. Most of mine are Part B newbies. Or referrals from Financial Planners, all of whom had used Bankers Life or MOO?)

"The difference between Plans F and G is that you are responsible for the Part B deductible. The Part B deductible in 2016 is $166. The premium differential is usually around $200. You are not saving any money by going with Plan G. What you ARE doing is hedging your bets if Plan F has a significant increase in 2021."

This isn't difficult. Tell the damn truth. Don't use scare tactics.

(Midlevel-I can't deal with it now, but I would be interested to hear why you think MAPD will explode in 2020)

 

[LostDollar]

I have been hearing the Part B deductible could be as high as $1500 by 2020.

That's still better than $6K to $10K for a current dollar range (you can correct if that is wrong) for MA plan deductibles. (And maybe 6-10 would go to 7.5-12 by 2020.)

 

[Midlevel]

Those aren't deductibles, those are OOP maximums and I've had 2 people reach the maximum the last 6 years. Those people also had GTL Hospital Indemnity plans that reimbursed at least half of their OOP maximum for them.

 

[goillini52]

Those aren't deductibles, those are OOP maximums and I've had 2 people reach the maximum the last 6 years. Those people also had GTL Hospital Indemnity plans that reimbursed at least half of their OOP maximum for them.

Bob....................what say you?

 

[LostDollar]

Those aren't deductibles, those are OOP maximums and I've had 2 people reach the maximum the last 6 years. Those people also had GTL Hospital Indemnity plans that reimbursed at least half of their OOP maximum for them.

1) so how often have you had people spend more than, say, $1,000 OOP?

2) Is this GTL product a one time use product like some of the cancer help plans I've been told about?

3) And if an MA or an MAPD plan has to have one or more additional insurance products with it to make it economically viable, it is probably no longer fair to just compare an MA plan price to a Medigap supplement price.