Insurance Agent Forum

[adamantium]

I just finished reading a crap load of info on Medicare's Website and now its all jumbled up. Would anyone mind giving me a quick benefits comparison of Med Supps vs MA's for CA? What are the reasons for why someone would want an MA, other than no premium? Are Med Supps always the better choice and if so why?

[bourbonlegend]

Medicare Advantage "pros"-

-Inexpensive (relatively).
-No pesky health questions (cept are you end-stage renal).
-A good choice for a healthy client living in an urban area with a strong network.

Medicare Advantage "Cons"

-Not guaranteed renewable
-Benefits tend to decrease yearly while out of pocket maximums and premiums are increasing.
-Doctors/hospitals don't have to accept medicare advantage plans.
-Clients have to plan, and sometimes budget, for co-payments at both the doctors office and the hospital.

Medigap Policy "pros"-

-Guaranteed renewable
-If medicare pays, the plan pays. It really is that simple.
-Can have 100% coverage with no deductible
-Plan is portable.
-Really simple for prospects and agents as all policies are identical from company to company.
-While your premiums increase, your benefits don't change.
-Marketing is easy since all prospects know about and believe in the product.

Medigap Policy "cons"

-More expensive and hard to market in areas with strong PFFS/PPO networks or Med-Select networks.
-Clients can be turned down (outside of open enrollment) for poor health.