Medicare Advantage

[WCMason]

I love that Newby..."medicare replacements" ...very succinct way to summarize a med advantage when comparing them to supplements. Gonna use that one. Thx.

It's the favorite term doctors who don't take them use when their patients ask about them.

 

[FLM2]

It's the favorite term doctors who don't take them use when their patients ask about them.

Exactly correct, and it's usually followed by, 'don't give up your Medicare' and scares many recipients into believing that is the case.

 

[wehotex]

You're getting trolled.

I used to be a carrier rep for MA companies. After MIPPA got passed by congress (read: congress said a big ol screw you to Medicare agents) I got out. The marketing requirements are beyond ridiculous.

The product itself? Usually a piece of cake. Commissions? Usually pretty steady, sometimes a carrier will stop paying them in an area if they want to clean up the risk pool, but they're usually pretty consistent.

Work to commission ratio? Varies. If you have a good system (like some of the agents on here do) you can manage your time well and work really hard a few months a year and maintain a reasonable amount of income.

Liability? CMS is actively having a witch hunt for agents and it's very easy to get them pissed off. The rules change every year and basically center around making it extremely difficult and expensive for an agent to market (no cold calling, no door knocking, no seminars with food, etc).

It's also super competitive. I think the market is over-saturated with agents which drives up the cost of marketing for everyone. Carriers, agencies, and agents are all sending TONS of mail and it just creates noise. Some agents do well because they've really figured out their market and their marketing pieces, but there is definitely a learning curve.

CMS doesn't DO SQUAT in San Antonio. The big time United Health producers do WHATEVER THEY WANT to make $$$.

 

[goillini52]

It takes a while to get it. Some come here and get offended very quickly. Most of us are just having fun. SAI gets picked on all the time about having three clients and two of them being family members. We all know that isn't the case. And who hasn't picked on Rick and who hasn't Rick picked on?

The OP asked some vague questions about how easy MAPD is to sell and then a specific question about 2017 comp. Both have been discussed on the forum. I personally don't think any product is hard to sell once you have a viable prospect. The hardest part about this business, whether Medicare products, life, health, P&C, etc. is getting in front of qualified prospects. That's the real selling in this business. If you have someone who is interested in your product, the battle is almost won. You just have to match the product with their need and it's a done deal as long as they trust you.

I've often read and found it to be true, that prospecting is the hardest and most important part of sales.

 

[somarco]

Never heard of anyone failing because they had too many people to talk to.

 

[Gulfman]

I've often read and found it to be true, that prospecting is the hardest and most important part of sales.

Whoa....good from one from Goilini. YOU are so right my friend!

Thumbs Up!

 

[Newby]

I love that Newby..."medicare replacements" ...very succinct way to summarize a med advantage when comparing them to supplements. Gonna use that one. Thx.

That's perfectly compliant. It's not a slam. It's an accurate description.

Medicare Supplements pay AFTER Medicare to supplement Medicare.

Medicare Advantage Plans pay INSTEAD of Medicare.

It replaces your Medicare coverage.

I've done 50 Medicare Informational seminars and there are secret shoppers in nearly every one of them. No one has ever had an issue with that explanation.

 

[moretrax]

You're getting trolled.

The marketing requirements are beyond ridiculous.

You hit the nail right on the head.

 

[yogooglethis]

That's perfectly compliant. It's not a slam. It's an accurate description.

Medicare Supplements pay AFTER Medicare to supplement Medicare.

Medicare Advantage Plans pay INSTEAD of Medicare.

It replaces your Medicare coverage.

I've done 50 Medicare Informational seminars and there are secret shoppers in nearly every one of them. No one has ever had an issue with that explanation.

The thing about secret shoppers is they will only ding you if you say something or don't say something that's on their checklist otherwise they are pretty clueless about MA



i agree that calling MA a replacement plans seems puts things in perspective when describing it but techinacaly its not since the same Medicare benefits are covered either way.In fact in previous years some of the big carriers said not to say the replacement word when talking with consumers in their compliance training.I don't know if that stills apply but i stay away from the word just in case.

 

[Newby]

The thing about secret shoppers is they will only ding you if you say something or don't say something that's on their checklist otherwise they are pretty clueless about MA i agree that calling MA a replacement plans seems puts things in perspective when describing it but techinacaly its not since the same Medicare benefits are covered either way.In fact in previous years some of the big carriers said not to say the replacement word when talking with consumers in their compliance training.I don't know if that stills apply but i stay away from the word just in case.

What else COULD you call it. With MAPD privatized insurance pays INSTEAD of Medicare. not in addition to Medicare. Not calling it a Medicare replacement plan would be deceitful.