Received an email from my Humana FMO (yes, he will release) with instructions on how to recertify for the rest of 2007 and all of 2008. No big deal, took about 40 minutes including reading all the material.
Humana is opening the recertification up from 7/5 to 7/26. I would wonder why the cutoff is 7/26. Are we going to be back in business 8/1?
Also, heard a rumor that CMS is considering eliminating the use of independent agents for this product.
Rick
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Training, Community, Support, and Success Independent Life Insurance Agents Assn rick@iliaa.org
They really don't need the indy agents as in the past. When they rolled out this program massively2005/2006 they knew many Med Supp agents would roll over a high % of their existing client base plus anyone else they could find. uninsurables,poor. In addition those agencies operating under a captive status recruited many newbies lured by a chance to earn a good income and they telemarketed the seniors to death.
Simultaneously, there was a big media blitz including TV ads to call those 1-800 numbers and enroll on the phone, or online. (so the house was competing against us). Now you know all those sales results were tracked by category and we don't know the % of each, but I bet those phone-ins and online enrollments showed some decent results.
On this forum we have agents bragging about how they never see the client....they enroll them online. So a simple product like an MA, or even Med Supp...can be marketed and sold without us. Heck, AARP has proven that the last 20 years. Now AARP is going to have a 2-yr Advantage program (see my post in News HOund) enrolling WITHOUT agents. Do you think that the MA co's are foreseeing that agents will rollover/replace one company to another to start that first year commission again? Those renewals do stink. Best way to stop that is to accept a replacement at renewal commission only, or halt sales by indy agents.
Final Expense is being marketed the same way...at 50% commission. Other life products, auto & home...same thing. We all better smell the coffee...This chipping away at market share is taking it's toll....and just because you found some troll in a trailer who was excited 'cause you came by to sell him...their numbers are dwindling too unless you speak a foreign language, or 2, or 3 LOLOL
Thats rediculous. Seniors need agents to explain every little detail. YOu think the med supp companies can just advertise to get people to switch for $10 a month? NO! You think a senior is gonna drop full coverage to go to a free plan without someone besides TV convincing themn? Hell no. There will always be agents in the senior market.
You need to find a new up line if you are only getting 50% on final expense plans. I haven't seen commish that low since I was captive with senior solutions.
This is simply a guess on my part but I would think that more captive agents abused the PFFS marketing than independent agents.
Newbies starting off captive have little to lose. I have been licensed for 31 years by explaining the entire picture.
How many agents here that wrote PFFS actually called the physician first to see if they were deemed? I did or made sure the carrier did and had before the enrollment. If everyone was as conscientious, we might not be in this mess.
As the education level goes up, people are able to do their own research and analyse for themselves.
Med Supps are not complicated. Med Advantage even less. Your basic understanding starts with Medicare: what it is, what it covers, and what it does not. The rest is like a glove covering a hand.
The younger seniors as a group are more sophisticated than their older (mid 70's and up)counterparts. They experienced Medicare thru their circle of family and friends. All they know is that there is very little left for them to pay out of pocket if they have a good plan.
So what are you telling them in person that you can't explain over the phone? All you need is for them to be on the same page with you. I give them a choice...face to face or phone. Both methods work.
Re final expense. I'm getting 102% on Fe...what made you think i'm getting 50%???? Reread that again....there is marketing of FE on the phone by an agency that only pays 50% to their agents. I am not with them, just aware of who and what they do.
I agree with that comment about captive agents. We had a few come on these boards and display their ignorance. It's even worse if you talk with them personally.
There is a big difference between Insurance Agent and Salesman.
The agent wants to hold his clients captive and looks out for their future welfare, hoping to grow his business with them.
The salesman is interested in making money....one time transactions are fine.
Oh sorry I thought you were implying that you were making 50%. How do you figure that med supps are more complicated than MA's? Med supps are very simple.
Rick, I made sure I called the physicians also. I too believe it would be captive agents abusing the plans more because thats all they have to sell. You definetly are a product pusher when you are captive.
Where did I say that med supps are complicated? this conversation is getting complicated.
I called a few dr offices, but told my clients to verify with their dr office first about MA participation before they enrolled with me. I'm in a big metro area and not about to call multiple offices.
I called a few dr offices, but told my clients to verify with their dr office first about MA participation before they enrolled with me. I'm in a big metro area and not about to call multiple offices.
I've written PFFS all over the country, many from my telephone. I always do a thorough review of the plan making certain the prospect has the summary in front of them.
However, big metro area or not, I think it is up to the agent to contact the doctor for the client. The client did not go to "Medicare Advantage School" and can't properly present the plan and ask if it is accepted. An agent must do this for his client - otherwise the agent is just a salesman.
An agent must do this for his client - otherwise the agent is just a salesman
Guess I'm a hybrid then. Of course, what is the function of the MA co? They have provider relations....they should call. Nope, most of my clients are capable of calling and obviously have a relationship with that office so get an immediate answer. Plus it is no longer third party. They heard with their own ears. And just because you called and medical office said Yes, doesn't mean next month or down the line they will accept this plan.
People want an agent to talk to. With 50+ Part D plans and numerous choices with MA and supp plans, they want someone to talk to about the differences.
I have walked into people's homes who have computer print outs all over from various web sites and their heads are spinning. Most of them are aging into Medicare and want to know how Medicare works and how to supplement it.
AARP is smart to do it all by phone now rather then 2 years ago. They are coming into the market after the MA boom. Most people who have a MA plan understand the basic concept and they can roll them over.
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"Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." Ronald Reagan
AARP is smart to do it all by phone now rather then 2 years ago. They are coming into the market after the MA boom. Most people who have a MA plan understand the basic concept and they can roll them over.
Can someone please explain to me the difference between than and then?
Can someone please explain to me the difference between than and then?
I would like to add to that the term "the wife". It that like "the shovel", "the garage", "the lamp", etc. I always refer to Jacqueline as "my wife, Jacqueline". I would never even think of referring to her as "the" anything.
And besides, she would make me a Castrati if I ever did. Ouch!
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Medicare Supplement Sales Training and Coaching.
"The Perfect Contact Management Program (CMP) for the Insurance Professional" www.YourInsuranceOffice.com
877.633.0808
My FMO (Senior Mkt. Sales) told me that Humanna, the Wal-Mart of MA's, was responsible for the majority of the complaints (boo, hiss!!!) that led up to the temporary and voluntary demise of the product known as the MA!!!! I know Humanna has independent agents, but they are semi-captive (they can offer no other MA). I know the forces of good are fighting hard for the rights of the seniors but until the evil empire releases it's deathly grip on all that is good, no warrior can rest.
I say press on in the fight to continue to do what is best for your seniors and if that means recommending they sign up for a MA and you get nothing, then let it be.
(please excuse the drama, it's 4pm on Friday and I've got eight kids upstairs all under the age of 7).
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Keith Kessler
I called a few dr offices, but told my clients to verify with their dr office first about MA participation before they enrolled with me. I'm in a big metro area and not about to call multiple offices.
Why wouldn't you call multiple offices? It's not up to the senior to make certain you sold him the correct coverage. (By the way, I'm in Los Angeles - find me a bigger metro area).
I do ask the provider relations reps to contact doctors when I have enough time before the effective date, but if time is short I'm on the phone calling the provider. A commission of $350 is worth spending a few hours verifying that the doctor will accept the plan.
Anyone can explain a benefit and ask for a signature. Especially when the policy costs nothing! But who is responsible for being sure the product is the right one for the client? I think it's up to the agent to do anything necessary to not screw a senior.
Maybe I just do business a little "old fashioned, " but that's the only way I can sleep at night. Yes, sometimes doctors change their minds (and it just happened to me yesterday) but I know that at least at the time of the enrollment, I've done everything I can to make sure it is the right policy for the right person.
The reason we are in this mess is because some agents were not willing to go the extra mile and be certain that BOTH the client and the doctors understand the program. Again, I'm being paid quite well to take care of this for my client. I don't transfer my responsibility to my client.
There are many people on the board who I know go far beyond what is expected. I don't know if that makes them more or less money. It just makes them better agents.
Humana PFFS/PDP Recertification
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