Medicare Advantage Training?/Transfer Program?
Only if they think there's something to collect. Those who know about blood and turnips don't.
I always think of MAPD as Simply adding a MOOP and drug plan to Original Medicare. Still have lots of Co Pays and 20% of Cancer Treatment. Throw in a few extras. Avg MOOP runs about $5500. Premiums run $0 to over $100 in my area. Plan N and SilverScript comes in just over$100 for T65. Occasional co-pays at doc office and ER unless admitted.
- 1,310
I just saw this thread and had to share a conversation I had with a producer yesterday. He's 55 years old and spent the last five years focused, exclusively on Medicare Advantage.
According to him, these are his results:
Every AEP season, he literally scrambles 12 to 15 hours a day trying to keep his clients on the books, or;
there is often a significant change (always to the negative) in the provider network of the plans he represents that causes his people to FREAK OUT when they get their new change notification. He then scrambles to find the suitable replacement and has to replace hundreds of people all at once and explain why what he recommended has changed so drastically, again, always to the negative.
He says he never has time to prospect for new clients by doing the only compliant thing he can do - direct mail approved by CMS and the carrier, because he's constantly putting out fires, answering ANGRY clients and having to try to conserve business.
Here is a contrast...
Medicare Supplements -
CAN do cold calling (phone), direct mail, Facebook, Google advertising, blogging, etc. to drum up business YEAR ROUND.
- No annual certifications needed, where if you fail twice you can't sell for that year (or is it 3x?)
- Clients have NO network issues.
- Med Supp companies do not routinely go out of business, making it a necessity to move ALL OF THEM in one 6 week period.
- No federal oversight on every word coming out of your mouth. Tell the truth and you're OK.
So, this is why I focus on Medicare Supplements. It is stable, six (typically) years of payouts with folks happy with their freedom.
YES, I recognize they're not for everybody, but neither is my help.
If I choose to be a cabinet maker and someone needs a dishwasher installed, I don't try to go focus on dishwashers, I refer it out. I'm much happier as a result of staying in my fast, profitable lane, helping those that are good prospects for what I have to offer.
"The riches are in the niches."
cw
- Thread starter
- #25
AllyriaRedbird
Expert
- 71
Amen Chris W!
Me too. I have a Med Supp only business perspective as well. I wanted to get certified only for the Part D's which I shop every year for my med supp clients based on their new drug schedules. This follow up, along with my stories about the horrors of MAPD in my monthly newsletter, hows I care about the client and requires that I stay in touch.
Recently I have heard on the forum that if you can become 'agent of record' for those that signed up themselves for a MAPD that you could gain the commission from the MAPD. Then when Oct rolls around, write the med supp and Part D to serve them better for the long term.
May be worth certifying for the most popular MAPD's in the area for the relationship building, 'agent of record' commissions now and future switching-to-med-supp and Part D commissions.
If you can't beat them join them(re: agent of record-MAPD,) then switch the client to Med Supp in OEP to save them money and serve them better for the long term...
Opinions?
----------
Somarco, this is very true...
If the person cannot afford a Medigap plan they can't afford to get sick on an MA plan.
Most people won't save the difference. Just like they didn't buy term and invest the difference.
Most MAPD peeps don't know there is anything else out there! Shocked and surprised, disbelief at the page 11 handbook single page rules on med supp.
But, "wheres the co-pays, the deductibles and the max out of pockets?" they say.
What they don't know can and does hurt them. Most people on the $0 premium, max out of pocket in network-$6700.00, and max out of pocket out of network-$10000.00 MAPD plans like BCBS and Humana DO NOT have that money lying around.
Me too. I have a Med Supp only business perspective as well. I wanted to get certified only for the Part D's which I shop every year for my med supp clients based on their new drug schedules. This follow up, along with my stories about the horrors of MAPD in my monthly newsletter, hows I care about the client and requires that I stay in touch.
Recently I have heard on the forum that if you can become 'agent of record' for those that signed up themselves for a MAPD that you could gain the commission from the MAPD. Then when Oct rolls around, write the med supp and Part D to serve them better for the long term.
May be worth certifying for the most popular MAPD's in the area for the relationship building, 'agent of record' commissions now and future switching-to-med-supp and Part D commissions.
If you can't beat them join them(re: agent of record-MAPD,) then switch the client to Med Supp in OEP to save them money and serve them better for the long term...
Opinions?
----------
Somarco, this is very true...
If the person cannot afford a Medigap plan they can't afford to get sick on an MA plan.
Most people won't save the difference. Just like they didn't buy term and invest the difference.
Most MAPD peeps don't know there is anything else out there! Shocked and surprised, disbelief at the page 11 handbook single page rules on med supp.
But, "wheres the co-pays, the deductibles and the max out of pockets?" they say.
What they don't know can and does hurt them. Most people on the $0 premium, max out of pocket in network-$6700.00, and max out of pocket out of network-$10000.00 MAPD plans like BCBS and Humana DO NOT have that money lying around.
4thquarter
New Member
- 12
I would like to hear Jimmy or Cooper speak on MA's.
Their bread and butter product or experts
Their bread and butter product or experts
- 503
I had a man recently call my office who has Cigna Health Spring MAPD. He was treated for cancer with MOOP $6700. I told him Medicare may let him out of his MA plan now since Cigna is under sanctions and he would be able to qualify for a Med Supp with UHC. He would receive a level 3 rate at $212 per month for Plan N since his last cancer treatment had not been over two years ago. I did not know how he would feel about the premium since his current plan is a $0 premium plan. He paused for a moment and said $212 X 12=$2544 is less than $6700.
4thquarter
New Member
- 12
The way I see or interpret MA's so far is you get what you pay for...
Zero upfront premiums yes but the back end is where they make their
money if one has major health problems.
The only way to take advantage of MA plans is good health, occasional
doctor visits, etc..
My Uncle is retiring this year and on dialysis for kidney problems....definitely not going to put him on a MA plan for sure with the high costs in the back end
Zero upfront premiums yes but the back end is where they make their
money if one has major health problems.
The only way to take advantage of MA plans is good health, occasional
doctor visits, etc..
My Uncle is retiring this year and on dialysis for kidney problems....definitely not going to put him on a MA plan for sure with the high costs in the back end
Similar threads
