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Reply to Medicare's New Rules     
Old 09-15-2008, 10:13 PM   #1
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midwestbroker on Medicare's New Rules
 
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Medicare's New Rules Medicare's New Rules
FYI:

MEDICARE ISSUES NEW RULES TO ENFORCE MARKETING REQUIREMENTS DURING UPCOMING HEALTH AND DRUG PLAN ENROLLMENT PERIOD

Nothing that we have not been speculating, just that Medicare has put it in writing.

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Old 09-15-2008, 11:53 PM   #2
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MedSuppPro on Medicare's New Rules
 
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Thanks Midwest!

WEIRD STUFF!!!
After the 2009 baseline year, no entity may provide, and no agent or broker may receive, compensation greater than the renewal compensation payable by the replacing plan on renewal policies if an existing policy is replaced with a like plan type during the first year and 5 renewal years. “Like plan type” refers to PDP, MA or MA-PD, or Cost plan. Examples of replacements with like plan type are—PDP replace with another PDP, MA or MA-PD replaced with another MA or MA-PD, and cost plan replaced with another cost plan. If a PDP is added to an MA-only plan, then a new commission is paid for enrollment in the PDP.

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Old 09-16-2008, 07:20 AM   #3
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insurance0707 on Medicare's New Rules
 
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only the government could come up with that. The MA and MAPD plans are having cut backs on funding (unless they change that) and that means the plans will either raise premiums or cut benefits. If the agent gets paid very little to come out and explain benefits, submit the app, etc. I doubt many will do it. it looks to me that the consumer will be worse off for this rule.
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Old 09-16-2008, 07:40 AM   #4
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patch36 on Medicare's New Rules
 
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I am in meetings most of the week with a couple carriers and should get some clarification of what the compensation rules really mean. My interpretation of the above excerpt leads me to believe the sky is falling

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Last edited by patch36; 09-16-2008 at 08:26 AM.
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Old 09-16-2008, 07:48 AM   #5
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dandan on Medicare's New Rules
 
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Medicare's New Rules Re: Medicare's New Rules
Many of you know how I feel about MA plans, and if I don't want to be stubborn I will admit there may be a place for some of these plans.

But at what point are we as AGENTS going to stand up and quit being taken advantage of??
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Old 09-16-2008, 09:19 AM   #6
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Does anu one know any thing about the company Ameri Life. They are big in the senior Market.

Thanks

The Insurance Lady
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Old 09-16-2008, 09:25 AM   #7
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moonlightandmargaritas on Medicare's New Rules
 
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Originally Posted by insurance lady View Post
Does anu one know any thing about the company Ameri Life. They are big in the senior Market.
Don't walk, RUN away as fast as you can...

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Old 09-16-2008, 09:57 AM   #8
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MedSuppPro on Medicare's New Rules
 
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Originally Posted by insurance0707 View Post
...it looks to me that the consumer will be worse off for this rule.
This will kill MA / PDP indi sales in 2010! For 2010, CMS will start tracking agent of records and will then provide carriers the necessary info to make sure renewals are paid. Agents whom service their clients and advise a more suitable carrier will get paid much less for their efforts. The carrier that is replacing will then pay renewals (max 6 years total!).

Pyramid home office people are popping corks now! Whether your 100% MedSupp or anti MA -- this stupid anti consumer 6 year drop-off commissions rule will leave alot of consumers without an advisor.

Good news for the carriers and home office captive agents. (i.e. Humana)

Bad news for the client + 6 years out!
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Old 09-16-2008, 10:22 AM   #9
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Medicare's New Rules Re: Medicare's New Rules
Originally Posted by MedSuppPro View Post
This will kill MA / PDP indi sales in 2010! For 2010, CMS will start tracking agent of records and will then provide carriers the necessary info to make sure renewals are paid. Agents whom service their clients and advise a more suitable carrier will get paid much less for their efforts. The carrier that is replacing will then pay renewals (max 6 years total!).

Pyramid home office people are popping corks now! Whether your 100% MedSupp or anti MA -- this stupid anti consumer 6 year drop-off commissions rule will leave alot of consumers without an advisor.

Good news for the carriers and home office captive agents. (i.e. Humana)

Bad news for the client + 6 years out!

Spot on!
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Old 09-16-2008, 11:30 AM   #10
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theinuranceguy on Medicare's New Rules
 
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Medicare's New Rules Re: Medicare's New Rules
Originally Posted by MedSuppPro View Post
This will kill MA / PDP indi sales in 2010! For 2010, CMS will start tracking agent of records and will then provide carriers the necessary info to make sure renewals are paid. Agents whom service their clients and advise a more suitable carrier will get paid much less for their efforts. The carrier that is replacing will then pay renewals (max 6 years total!).

Pyramid home office people are popping corks now! Whether your 100% MedSupp or anti MA -- this stupid anti consumer 6 year drop-off commissions rule will leave alot of consumers without an advisor.

Good news for the carriers and home office captive agents. (i.e. Humana)

Bad news for the client + 6 years out!
But if someone else writes your client they get paid a commission? hmmmm....
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