Med Sup Pros---"is this True???"

[sman]

The only agents that specialize in signing up new Medicare beneficiaries 6 months before they enter Medicare are slime balls from Bankers Life, why in the world would a good agent want to make a client pay for a Medicare supplement that far in advance? They don't even have a Medicare card.

It takes literally 48 hours for a new Medicare supplement to be approved for someone in open enrollment, there is no justification for pulling that crap with someone other than an agent getting paid.

Not that I enroll people that early, but I know of at least one carrier who will not draft the initial premium until the effective date. Which means the person wouldn't pay any premium prior to coverage being effective.

With that said, I typically complete applications whenever the client is ready to move forward. If that's 90 days in advance or one day in advance, makes no difference to me. However, when they ask me when we should move forward, I tell them

"Whenever you are ready, but I recommend no later than 2-3 weeks prior to the effective date. Ideally near the beginning of the month prior. That way you will have your I.D. cards (PDP enrollment as well) in place on the day your Medicare begins."

With all of that said, I think the earliest I've ever completed an app on someone is in the 60-90 day range. And that's the exception and not the norm. Most of them are completed in the 21-45 day range. My conversation typically starts much further out though. Just talked to a woman yesterday whose Medicare starts in October. Probably won't complete an application until late August or early September.

 

[Ronnie Carter]

You can also move somebody from a MA to a Med Supp during the MADP, Jan. 1st -Feb. 14th each year.

Hey, Illini, the MADP doesn't give a beneficiary GI for a Med supp here in TN -- is that an Illinois state-specific thing?

The MADP generally only gives an SEP for a PDP with an effective date of 2/1 or 3/1. In fact, that's how most disenroll from their MAPD, by enrolling in the PDP using the MADP.

(Man, a newbie might go nuts with all the abbreviations we use on this site!)

 

[goillini52]

Hey, Illini, the MADP doesn't give a beneficiary GI for a Med supp here in TN -- is that an Illinois state-specific thing?

The MADP generally only gives an SEP for a PDP with an effective date of 2/1 or 3/1. In fact, that's how most disenroll from their MAPD, by enrolling in the PDP using the MADP.

(Man, a newbie might go nuts with all the abbreviations we use on this site!)

MADP isn't a GI situation. It has to be underwritten.

Yep, you can just about make a sentence using nothing but abbreviations. LOL

 

[Ronnie Carter]

And while I'm at it, maybe y'all can help answer a question that's never come up for me before.

I am assisting a lady who's T65 on June 1, and who's already on Medicare. She has a MAPD that is killing her with copays due to numerous hospitalizations etc. Obviously, we know that she will have a second OEP for a Med supp due to her 65th birthday event. She couldn't afford the high premiums for a supp when her Medicare first started (6-month OEP here in TN). She is chomping at the bit to snatch a Med supp as her premiums will be far less than her current cost sharing, as a result.

So -- here's my question. We know that if she were not already on Medicare, her enrollment into A/B would take place 5/1/17 due to the fact that her birthday falls on the first day of the month. Will her OEPII act the same way, i. e., can she leave her MAPD and go to original Medicare and have her supplement effective on 5/1, or will she have to wait until 6/1?

This seems like something I should know, but don't.

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MADP isn't a GI situation. It has to be underwritten.

OK, your post didn't mention underwriting, so wanted to clarify. Thanks!

 

[goillini52]

And while I'm at it, maybe y'all can help answer a question that's never come up for me before.

I am assisting a lady who's T65 on June 1, and who's already on Medicare. She has a MAPD that is killing her with copays due to numerous hospitalizations etc. Obviously, we know that she will have a second OEP for a Med supp due to her 65th birthday event. She couldn't afford the high premiums for a supp when her Medicare first started (6-month OEP here in TN). She is chomping at the bit to snatch a Med supp as her premiums will be far less than her current cost sharing, as a result.

So -- here's my question. We know that if she were not already on Medicare, her enrollment into A/B would take place 5/1/17 due to the fact that her birthday falls on the first day of the month. Will her OEPII act the same way, i. e., can she leave her MAPD and go to original Medicare and have her supplement effective on 5/1, or will she have to wait until 6/1?

This seems like something I should know, but don't.

----------



OK, your post didn't mention underwriting, so wanted to clarify. Thanks!

Go with the 5/1 effective date.

 

[Ronnie Carter]

Go with the 5/1 effective date.

We'll see if it works! I suppose it'll also depend on when I can get her new PDP going, also.

This can be a confusing subject. The CMS Medigap guide defines OEP thusly:

"The best time to buy a Medigap policy is during your Medigap Open Enrollment
Period. This period lasts for 6 months and begins on the first day of the month
in which you’re both 65 or older and enrolled in Medicare Part B."

But, we all know that if Medicare starts at age 64 11/12 due to birthday on the first of the month, the above statement is not correct. That group of the population, about one out of thirty who are born on the first, is not forced to wait a month after their Medicare starts to get a supplement.

 

[FLM2]

I agree, the early bird catches the worm. I think he's just pissed because he's gotten there late too many times.

I haven't gotten there late too many times, I've stated my objections in plain English.

'Getting it out of the way' only means that the agent has convinced someone to enroll that early, there is no reason to do so, particularly since Part D can't be done at the same time.

 

[goillini52]

We'll see if it works! I suppose it'll also depend on when I can get her new PDP going, also.

This can be a confusing subject. The CMS Medigap guide defines OEP thusly:

"The best time to buy a Medigap policy is during your Medigap Open Enrollment
Period. This period lasts for 6 months and begins on the first day of the month
in which you’re both 65 or older and enrolled in Medicare Part B."

But, we all know that if Medicare starts at age 64 11/12 due to birthday on the first of the month, the above statement is not correct. That group of the population, about one out of thirty who are born on the first, is not forced to wait a month after their Medicare starts to get a supplement.

My birthday's on the 1st of the month, so I'll soon be getting Medicare a month early. I'd go ahead and write her Med Supp and PDP now, just request a 5/1 effective date on both.

 

[FLM2]

Not that I enroll people that early, but I know of at least one carrier who will not draft the initial premium until the effective date. Which means the person wouldn't pay any premium prior to coverage being effective.

With that said, I typically complete applications whenever the client is ready to move forward. If that's 90 days in advance or one day in advance, makes no difference to me. However, when they ask me when we should move forward, I tell them

"Whenever you are ready, but I recommend no later than 2-3 weeks prior to the effective date. Ideally near the beginning of the month prior. That way you will have your I.D. cards (PDP enrollment as well) in place on the day your Medicare begins."

With all of that said, I think the earliest I've ever completed an app on someone is in the 60-90 day range. And that's the exception and not the norm. Most of them are completed in the 21-45 day range. My conversation typically starts much further out though. Just talked to a woman yesterday whose Medicare starts in October. Probably won't complete an application until late August or early September.

In Florida most Med Supps are UHC and they draft immediately, in all other ways we work with the same timeline. I work 100% on referrals so don't chase people or leads, my objections to the 6 month out enrollment is just that, an objection, based on what I think is the right way to conduct business.

 

[goillini52]

I haven't gotten there late too many times, I've stated my objections in plain English.

'Getting it out of the way' only means that the agent has convinced someone to enroll that early, there is no reason to do so, particularly since Part D can't be done at the same time.

You're free to do business however you want. What's the disadvantage to the client for paying the premium 6 months early...50 cents interest they might have gotten at the bank?

There is a reason for the agent to convince them to "get it out of the way"...so another agent doesn't get the business before you, as has obviously happened to you. The ones I write that early are relieved that they don't have to deal with all the confusion for the next 6 months.

Is it that much trouble to write them at different times? The more contacts the more solid the business. With that extra contact, you might get a referral, or sell them a FE or CUL Dental policy while you're there.