F,G,N Vs Other Plans???

[GreenSky]

I was trying to follow the train of thought about an AARP plan K and why AARP might be good, in FL anyway. I suspect that train of thought breaks down some for KS because I don't know that KS AARP rates for G and N are as competitive in the KS market as they are in the FL market.

If one walks away from that linkage, then yes I think in KS, HDF would be a better buy than plan K. I hope I've not said not to buy it, because I bought it myself. Presenting to another would be a different story and I would need to learn to see when it was appropriate and how to do it properly.

You're already a better agent than Little Timmy and probably at least 65% of other agents - and you're not even an agent!

I would love to make a living selling HDF as I think it's the best value for many people. But for $80/yr commission I'd go broke. However, when it is an obvious fit, I show it. Because I do what is in my client's best interest, not necessarily in my best interest.

Rick

 

[yorkriver1]

The variances in all the plans can simply be broken down to makes sense or not based on the premiums of that plan. With multiple companies x every plan design x 50 states = every plan probably has a sweet spot somewhere that makes it a good value in comparison.

That said, companies and agents alike typically will settle down to a select few plans and prices that will be more readily understood and accepted by the consuming public.

Some plans like K/L will never make sense at the prices they have been since they came out in 2006 considering the closeness to the out of pocket risk of those plans and Ma plans.

True, and they are not usually worth mentioning, but they do have many more providers to offer, and more stability, where docs are often moving out of MA networks.
I have 3 lower income clients on Plan K and have only brought it up if a client has a specific doctor they heavily rely on who has dropped out of MA networks and the client has said Plan G or N is not affordable. They plead with me for a solution. They could use the freedom of a Med/Supp with the premium of an MAPD PPO. The maximum annual out of pocket on plan K is lower than most MAPD's.

Someone mentioned the 50% of the Medicare hospital deductible that Plan K pays, & client pays 50%. Actually, that's about like two days of the hospital copay on MA plans. Their share of outpatient charges would be lower than many MA's @ 10% of Medicare allowable.

This is not a marketing/promoted plan for me. It does as someone said, provides an alternative to MA plans, granting the freedom of provider choice of a Med/Supp.

 

[somarco]

Like everything else in this type of discussion, the answer is "it depends".

Checking rates for 65 yo male, non-tobacco we see this.

HDF - $50
K - $56 (UHC), others are $82+
N - $95

Pay $6 more per month for 2x the OOP of HDF? Don't think so.

Pay $40 more per month for less OOP than either K or HDF? In most cases, yes.

The decision made by the client (as it should be) is emotional, not based on numbers alone. Numbers are a factor but it comes down to how much value is perceived by one plan over another, and how scary is the OOP?

 

[FLM2]

Like everything else in this type of discussion, the answer is "it depends".

Checking rates for 65 yo male, non-tobacco we see this.

HDF - $50
K - $56 (UHC), others are $82+
N - $95

Pay $6 more per month for 2x the OOP of HDF? Don't think so.

Pay $40 more per month for less OOP than either K or HDF? In most cases, yes.

The decision made by the client (as it should be) is emotional, not based on numbers alone. Numbers are a factor but it comes down to how much value is perceived by one plan over another, and how scary is the OOP?

That same comparison in Florida:

HDF: $49
K: $64
N: $132

The issue with the HDF is that the company is United American and the Underwriting is tough; The K is UHC and basically anyone not in the hospital for the past 90 days will be approved

I don't show clients either the HDF or K and am cautious with Plan N, I don't think there is enough inherent cost savings (F is $184 in the above scenario so the savings with N is $52 x $12= $624-Part B deductible, or about $400 a year) for most of my clients who choose supplements (usually they already pay IRMAA) to be bothered with the copays and potential excess charges.

If I worked in areas where MAPD had little to no penetration I would use N far more often, particularly if the premium was under $100.

 

[Chazm]

That same comparison in Florida:

HDF: $49
K: $64
N: $132

The issue with the HDF is that the company is United American and the Underwriting is tough; The K is UHC and basically anyone not in the hospital for the past 90 days will be approved

I don't show clients either the HDF or K and am cautious with Plan N, I don't think there is enough inherent cost savings (F is $184 in the above scenario so the savings with N is $52 x $12= $624-Part B deductible, or about $400 a year) for most of my clients who choose supplements (usually they already pay IRMAA) to be bothered with the copays and potential excess charges.

If I worked in areas where MAPD had little to no penetration I would use N far more often, particularly if the premium was under $100.

Was that HDF for a male? I could of sworn I quoted a male t65 months ago and it was around $60

Edit: just checked and in my area, area 2, it's $63 for male t65

 

[LostDollar]

The decision made by the client (as it should be) is emotional, not based on numbers alone. Numbers are a factor but it comes down to how much value is perceived by one plan over another, and how scary is the OOP?

And/or other factors which may not be immediately predictable by the agent such as:
Current Health, Assumptions one wants to make in regard to future health and life span, strength of desire to control one's own money, and ..[other].. .

 

[FLM2]

Was that HDF for a male? I could of sworn I quoted a male t65 months ago and it was around $60

Edit: just checked and in my area, area 2, it's $63 for male t65

No, it was female, my mistake-UA's rates for males are higher across the board, in this case HDF is $57 vs $64 for K

 

[Botboy141]

I sold a plan L once...the risk pool was likely tiny but this guy wanted the best coverage he could afford and he couldn't afford a Plan N. Price for L fell between HDF and N.

Outside of that one instance I never sold or even talked about anything outside of F, G or N. Only sold a handful of F as mine wasn't very competitive but my G and N were excellent.

 

[yorkriver1]

Like everything else in this type of discussion, the answer is "it depends".

Checking rates for 65 yo male, non-tobacco we see this.

HDF - $50
K - $56 (UHC), others are $82+
N - $95

Pay $6 more per month for 2x the OOP of HDF? Don't think so.

Pay $40 more per month for less OOP than either K or HDF? In most cases, yes.

The decision made by the client (as it should be) is emotional, not based on numbers alone. Numbers are a factor but it comes down to how much value is perceived by one plan over another, and how scary is the OOP?

True about closeness between HDF & K. Forgot to mention that all were either needing to use UHC easy underwriting or liked the idea of changing the plan with a phone call. I did mention the company disclaimer that changing is not a contractual guarantee.

HDF with Humana competes rate wise with UA in my state, and they get Silver Sneakers + some of the extras from their MA plans like the Well Dine meals post hospital confinement.

 

[LostDollar]

I sold a plan L once...the risk pool was likely tiny but this guy wanted the best coverage he could afford and he couldn't afford a Plan N. Price for L fell between HDF and N.

Outside of that one instance I never sold or even talked about anything outside of F, G or N. Only sold a handful of F as mine wasn't very competitive but my G and N were excellent.

I have puzzled over this post a few times. Buying a plan L for more money than a plan HDF.

Seems like paying more for a higher out of pocket that does not include Part B deductible and excess charges.