Medigap High Deductible Plan F

[yankee466]

The "problem" with this plan is I can't live on 13-21% commission on a $35 monthly premium. It's worse than trying to make a living selling individual dental.

It's great that you want to understand the plan. It's not so great that you expect to present it properly or otherwise.

Unless of course you are independently wealthy or using this to find money to cross sell other coverage.

Rick

My philosopy is high deductible F AND LTCi if you are trying to cover big ticket items at the lowest cost possible....and assuming the client prefers
not to mess with MAPD. Then you could care less if you ever get paid on the med sup.

 

[GreenSky]

My philosopy is high deductible F AND LTCi if you are trying to cover big ticket items at the lowest cost possible....and assuming the client prefers
not to mess with MAPD. Then you could care less if you ever get paid on the med sup.

Agreed, but that works only when the initial reason for gaining the client is LTC. If you are simply working with a Med Supp client, saving them $100 a month doesn't translate into them paying $250 a month for a LTC policy.

If someone is looking for LTC, a high f would be a "we found some money" product.

Rick

 

[yankee466]

Agreed, but that works only when the initial reason for gaining the client is LTC. If you are simply working with a Med Supp client, saving them $100 a month doesn't translate into them paying $250 a month for a LTC policy.

If someone is looking for LTC, a high f would be a "we found some money" product.

Rick

Saving a couple $100/month each buys a nice amount of LTC with a $200/month premium. Unless you live in CA or NY, $200-300/month buys a lot of LTC for a 65 year old couple in good health. Even if it turns into a $400/mo LTC plan....the $200/month savings could make all the difference in the world to them.

 

[somarco]

better off with a MAPD plan at 0 prem out of pocket...?

She didn't want an Advantage plan and I saw no reason to argue with her.

 

[Todd King]

So why wouldn't someone that is in the "can't afford anything else" category, be better off with a MAPD plan at 0 prem out of pocket...?

Gimme sum of dat ed-u-ka-shun on the subject. This isn't my main area of interest but trying to pick this up on the fly.

Also, another question that I would like to pose here: Do any of you who are in the med supp or MA business ever enroll clients into Low Income Subsidy with SSA...? (those folks making 150% or less of the Fed Poverty Level, or less than $ 1362.00 per month in income, and having less than $ 12,640 in liquid assets, not counting home and auto values, etc.). Or do you just not deal with those poor folks...?

Dang SN, where have you been? Been a long time since we've seen you on here!

One reason for a High F would be the ability to retain a choice of doctors and hospitals.

If you run across someone that should be on the LIS, you're darn tootin', help them enroll! Now you're a savior!

 

[DS4]

The "problem" with this plan is I can't live on 13-21% commission on a $35 monthly premium. It's worse than trying to make a living selling individual dental.

Rick, I'm confused?
Being the humanitatian that you are, I thought you ran a non profit business. For one that practices philanthropy like you, are you driven by money, or, helping mankind??

 

[Todd King]

Even non-profits have to have capital to run on. That's what he's talking about.

 

[tins]

Even non-profits have to have capital to run on. That's what he's talking about.

I'm a non-profit

 

[GreenSky]

I compared the High F to Plan N for most counties in CA with Anthem. A 70 yr old pays $50.31 for High F and $99.18 for Plan N.

Would saving $600 be enough for someone to go to the $2K deductible plan? I know I can't market insurance (High F) for a $7.50/mo commission.

Rick

 

[Todd King]

High Ded F has never made sense to me! It just doesn't seem to make economic sense.