Medicare Supplement Selling Question

[jmarkk1]

I've asked a few people this question already and I'm not getting a clear answer...hope you guys can help.

I have a client that lives half of the year in Florida and the other half of the year in Ohio. (I don't have FL license)

Are they able to get Med Supp in Ohio or do they have to get Supp in FL? What about MA rules? can they get PDP plan in Ohio or FL? etc.

I've heard that I can help as long as they pay taxes in Ohio, and then I've heard it's ok regardles as long as they have residence in OH.

 

[alicia]

Not sure but I think they have to go with the state where they file their taxes.

 

[Franz Kafka]

Everyone has a primary residence. It's not hard to figure out where that is.

 

[jmarkk1]

OK. If I decide to get licensed in FL is this expensive? I've heard that FL can be difficult.

 

[Frank Stastny]

OK. If I decide to get licensed in FL is this expensive? I've heard that FL can be difficult.

Isn't there another thread on this?

No, it is not expensive especially in relationship to the commission you will earn. It will be about twice as much as you would have earned in IL.

It's not difficult it just takes a little longer because of having to also get fingerprinted. You have go to FL to have that done.





Just kidding about having to go there.

 

[Josh]

There is another thread.

What's their address with Medicare? That's as good a one to use as any.

If they're six months and one day in another state, but come back even for a single day, it resets. So they go to Florida for four months, come back for a day, they have six months all over again. Those are the Medicare Advantage rules.

 

[somarco]

The other thread asks about IL and FL.

Every health insurance policy I have sold (and gap is health insurance) determines residency based on the address you use for federal taxes.

Someone in the other thread said you can sell a policy to anyone in your home state as long as that is where the app is taken.

Those rules usually apply to life insurance, not health insurance.

In other words, you could stake out the welcome station at your state line and write life insurance all day long. But you could only write a health insurance policy if the buyer was a resident of your state.

 

[Frank Stastny]

Someone in the other thread said you can sell a policy to anyone in your home state as long as that is where the app is taken.

Those rules usually apply to life insurance, not health insurance.

That was me and yes, when I was captive I was able to do that with Med Supp insurance with the insurance companies blessings. I wrote many policies for people who lived in other states including IL and was able to give them Missouri rates. I even met several on the MO side of the river and filled out the app on the hood of my car.

So apparently it doesn't only apply to life insurance or at least it didn't back then.

 

[jmarkk1]

Back to the FL licensing issue....I've heard that you have to get appointed in each county that you do business. Does this cost per county or are there licenses that cover entire state?

 

[Guarding Destiny]

"It will be interesting to see how all this unfolds...Surprised they didn't try to settle out of court."

I couldn't agree more though State Farm is no different than any other large corporation that uses the bean counter method and goes with whatever will result in the smallest downside to the company. This is the protocol so many use to navigate their business.

Let's compare to the large car manufacturer who discovers there are faulty brakes in a low percentage of their newest roll-out. They go to their bean counter who goes to work on the numbers. It is conclusive they decide. They add up all the wrongful death suits, the other personal injury claims, and even take into account the "bad faith" cases that go to jury trials and punitive damages are levied on them. All this is accounted for.

There is no innocence here. They know precisely why these brakes are faulty and what it will take to correct the problem. And after the final analysis from the bean counter they decide to keep hush and say nothing. Why?

The bean counter informs the principles of the company that total lawsuits will result in a profit loss of 240 million dollars, while recalling these cars and fixing the brakes will cost 387 million dollars. At that point the principles have to decide whether ethics or bottom line profits should take priority. There are a few companies that will put ethics first, though a company like State Farm Insurance is not one of them, based on my observations.

Until juries across the United States start to increase dramatically the punitive damages, companies will continue to behave badly. For them it is just another day in the office. State Farm claims staff probably are not aware of what goes on. They purposefully hire out independent claims adjusters so they won't be privy to all the bad faith practice that goes on. It provides the principles, the very top people [those in the know] with cover, sheltering them from prosecution.