Who is Stealing my Med Supp Book of Biz?

[sshafran]

So, I don't get it.

We all agree that med supp is superior when your are in bad health, and mapd is good when in good health.

What makes any agent think someone will remain in good health in the years to come?

Did a unexpected pandemic and long covid symptom discussions not teach us anything?

I've had too many healthy people thank me for suggesting med supps after experiencing a life altering event, to even consider selling mapd.

I fully agree that a med supp is better when medical needs are high - specifically for *medical* claims.

I don't know that I agree that the risk of $4-5k yearly is so big that it warrants $1400/yr outlay in premium to cover.

How many hit OOP max - it's around 3-4%, correct?

At what ages? In the 60s? Rare. In the 70s? Maybe some. In the 80s? Sure some, yes, but the alternative of high price med supp in those ages exceeds Max OOP.

Just ran a quote on a 79 yr old for G. His premium made almost no sense to pay.

My point (I think) is that the risk truly is a calendar year risk. That's it. Often not worth the premium to cover it considering that many will retain good health for years and years. It's a lot of premium to pay at 65 to make sure you won't have a copay at age 77.

 

[sshafran]

I fully agree that a med supp is better when medical needs are high - specifically for *medical* claims.

I don't know that I agree that the risk of $4-5k yearly is so big that it warrants $1400/yr outlay in premium to cover.

How many hit OOP max - it's around 3-4%, correct?

At what ages? In the 60s? Rare. In the 70s? Maybe some. In the 80s? Sure some, yes, but the alternative of high price med supp in those ages exceeds Max OOP.

Just ran a quote on a 79 yr old for G. His premium made almost no sense to pay.

My point (I think) is that the risk truly is a calendar year risk. That's it. Often not worth the premium to cover it considering that many will retain good health for years and years. It's a lot of premium to pay at 65 to make sure you won't have a copay at age 77.

Going back to prior discussions most people would probably say, if fully analyzing it, that Hi-G is probably the absolute, beyond a shadow of doubt, best.

But no one is actively advertising and selling that as we would be out of business.

 

[DonP]

Can't do that with the new Humana Give Back with the $600 Medical Deductible.

Thats on the giveback plan . Depending on area they have $2900 moop with $750 medical deductible . The $750 goes toward the moop which most sickier people will meet . Like I had a guy paying $395 a month on a med sup he could no longer afford . He’s on dialysis. I put him on the low moop . He’ll hit that in first month and then 100% .

 

[DonP]

I fully agree that a med supp is better when medical needs are high - specifically for *medical* claims.

I don't know that I agree that the risk of $4-5k yearly is so big that it warrants $1400/yr outlay in premium to cover.

How many hit OOP max - it's around 3-4%, correct?

At what ages? In the 60s? Rare. In the 70s? Maybe some. In the 80s? Sure some, yes, but the alternative of high price med supp in those ages exceeds Max OOP.

Just ran a quote on a 79 yr old for G. His premium made almost no sense to pay.

My point (I think) is that the risk truly is a calendar year risk. That's it. Often not worth the premium to cover it considering that many will retain good health for years and years. It's a lot of premium to pay at 65 to make sure you won't have a copay at age 77.

4% hit their moop . 1 out of 25 people yet all use that has scare tactic. All 1/2 income people can get Gi hi for $25 a month ages 65-68 . My dads perfect example . From ages 65-87 he spent maybe $3 k on his plan f med sup . I calculated he spent around $67 k in premiums . Invested even crappy that’s $180 k he lost . His premium now $560 a month including pdp . He did have major bills this past year . .

 

[sshafran]

4% hit their moop . 1 out of 25 people yet all use that has scare tactic. All 1/2 income people can get Gi hi for $25 a month ages 65-68 . My dads perfect example . From ages 65-87 he spent maybe $3 k on his plan f med sup . I calculated he spent around $67 k in premiums . Invested even crappy that’s $180 k he lost . His premium now $560 a month including pdp . He did have major bills this past year . .

So thinking of it differently, on an individual level, 4% of your years you'll "need" Plan G or "regret" having MAPD copay instead of G.

It's not a bad gamble.

 

[SamIam]

About 90% of my clients since 2003 chose Med Sup over Med Advantage and it's not even close. I explain I get paid more for Med Advantage sometimes almost double but most of my clients buy Med sups, why is that? I ask them which problem do you want to deal with, Rate increases or possibly having to fight with insurance companies when you need a painful procedure done? I show them these articles which I send to my clients articles like this every October 1st. I happen to get a lot of referrals from these articles by the way.

[EXTERNAL LINK] - Medicare Advantage Plans Often Deny Needed Care, Federal Report Finds

https://www.medpagetoday.com/special-reports/exclusives/101213?xid=fb_o&trw=no

 

[DonP]

About 90% of my clients since 2003 chose Med Sup over Med Advantage and it's not even close. I explain I get paid more for Med Advantage sometimes almost double but most of my clients buy Med sups, why is that? I ask them which problem do you want to deal with, Rate increases or possibly having to fight with insurance companies when you need a painful procedure done? I show them these articles which I send to my clients articles like this every October 1st. I happen to get a lot of referrals from these articles by the way.

[EXTERNAL LINK] - Medicare Advantage Plans Often Deny Needed Care, Federal Report Finds

https://www.medpagetoday.com/special-reports/exclusives/101213?xid=fb_o&trw=no

Your using fear and selected articles . I got 100’s and many more 100’s of versa happy clients

 

[policywunk]

About 90% of my clients since 2003 chose Med Sup over Med Advantage and it's not even close. I explain I get paid more for Med Advantage sometimes almost double but most of my clients buy Med sups, why is that? I ask them which problem do you want to deal with, Rate increases or possibly having to fight with insurance companies when you need a painful procedure done? I show them these articles which I send to my clients articles like this every October 1st. I happen to get a lot of referrals from these articles by the way.

[EXTERNAL LINK] - Medicare Advantage Plans Often Deny Needed Care, Federal Report Finds

https://www.medpagetoday.com/special-reports/exclusives/101213?xid=fb_o&trw=no

If only someone wrote an article showing the outrage of consumers with med supps/pdp who paid over 30k in premiums in the last 10 years but their med supp policy paid less than 5k in claims.This is actually less of an outlier than consumers on MA hitting their MOOP or difficulties getting needed procedures on MA but it doesn't make a good story.Consumers don't get mad about something if they don't realize why they should be mad.

 

[ICACharleston]

He’s on dialysis. I put him on the low moop . He’ll hit that in first month and then 100% .

how's that work? Can you show numbers? I've been selling MA's since 2008 and for the first time just ran into a non-dual on dialysis. He's got a Humana MA I didn't sell him and wanted a MedSup now - sorry Charlie.
I sent him to a Humana agent for the $2900 MOOP. He said his end of dialysis was $700 a month so I figured by May he'd be done paying. Any better scenarios? Don't think he qualifies for financial aid, he just wants to spend his money on fun things and Humana's (actually CMS' ) on dialysis.

 

[sshafran]

[EXTERNAL LINK] - Medicare Advantage Plans Often Deny Needed Care, Federal Report Finds

https://www.medpagetoday.com/special-reports/exclusives/101213?xid=fb_o&trw=no

The oncologist's "whole demeanor changed," he told MedPage Today. The frown became a smile.

I've read that before. Lol. Same example, different article. Recycling the same made up (or embellished) stories. Good for clickbait though.