Retired Bell South Employee - MAPD

[TN_agent]

FLM2 is right, you need to know exactly what they have been offered and the rules in order to advise them, it's getting harder as more of these crop up with all different kinds of rules for using them.

I had a woman (T65) and her husband (75, part A only applied for B) come to me recently seeking advice. She decided to retire from active employment end of the year, birthday in January. Guy was ready to sign up for supps the day they walked in wanting to get it over with.

Just making conversation, come to find out she and her husband (through her husband's retirement) have access to one of these exchanges with a generous HRA (nearly $4k combined annually). Never had to access it before because he was covered under her active employment coverage. Didn't know how it worked. The only reason I knew about it is because I am familiar with others in this area that retired from the same company.

I begged them to call their retiree benefits line first, that they may have some money coming to them. Guy was totally surprised I wouldn't sign them up for anything that day. Got a very nice card from her the other day (they went with the HRA) and she said she would send everyone she knows to me. (here's hoping I can actually sell them something, lol).

Are the carriers limited, yes, but at that high of reimbursement (remember, that is not the client's money) it is REALLY hard to compete especially with the younger ones. Granted, the company can cut HRA whenever, and I will be there to move the healthy ones if they do.

Doing the right thing is costing me a lot of money lately, though...

 

[Tkruger]

F

Doing the right thing is costing me a lot of money lately, though...

It does...and when you've done it enough then the sales come flying in.

 

[somarco]

Doing the right thing is costing me a lot of money lately

In the big picture, you NEVER lose by doing the right thing. It will ALWAYS pay off.

I get a number of referrals in the Medicare business by treating folks right. Before I got in the Medicare side I would often get more referrals from those I helped but never made a dime from over folks that were clients.

Only wish I had left the U65 business a long time ago.

 

[jdeasy]

In the big picture, you NEVER lose by doing the right thing. It will ALWAYS pay off.

I get a number of referrals in the Medicare business by treating folks right. Before I got in the Medicare side I would often get more referrals from those I helped but never made a dime from over folks that were clients.

Only wish I had left the U65 business a long time ago.

I agree. I get a lot of flak about not writing GI and referring those out to MoO since it's the best deal for people.

I get the "you're leaving money on the table" crap at least once a week. Or the, "I just don't understand why you refuse to write GI".

I feel I make more money over the long run because I don't write the GI. It seems to always come back to me.

Same for not writing MA plans. It hasn't hurt me businesswise at all since I stopped writing MA plans. It sure bothers the hell out of some that I chose to not write them.

 

[FLM2]

That part is true but he was still talking about an AT&T retiree. Yes, the discussion did also talk about GE and Whirlpool because they are doing the same thing. They are ending employee retiree coverage. They are giving a stipend for the retirees to buy their coverage on the open market.

Yes, there are rules to follow to make sure they get reimbursed. But there is no option to just stay with the employer coverage.

I was thinking more about Federal and other government employees because that's who I typically reach. If I had more corporate retirees in my area from companies like GE and AT&T it would make sense to learn more about the details and possibly have a different approach but that hasn't been the case and I've been able to grow my Medicare book at a pace that works for me.

 

[myinsurebiz]

The thread starter was about someone already on a Humana MAPD and whether they could switch to Aetna through an agent who barely understands these products . . .

no offense - but, I understand MA / MAPD's very well. I was not familiar with the MSA that these clients received and how it worked. But - JD enlightened me . ..

That part is true but he was still talking about an AT&T retiree. Yes, the discussion did also talk about GE and Whirlpool because they are doing the same thing. They are ending employee retiree coverage. They are giving a stipend for the retirees to buy their coverage on the open market.

Yes, there are rules to follow to make sure they get reimbursed. But there is no option to just stay with the employer coverage.

Correct . . .

I agree. I get a lot of flak about not writing GI and referring those out to MoO since it's the best deal for people.

I assume you are talking FE? MOO better than Gerber?

 

[somarco]

not familiar with the MSA that these clients received

It's not an MSA. Never was.

And no, I don't think you do understand MA plans.

 

[jdeasy]

no offense - but, I understand MA / MAPD's very well. I was not familiar with the MSA that these clients received and how it worked. But - JD enlightened me . ..



Correct . . .



I assume you are talking FE? MOO better than Gerber?

Yes, MoO's direct to consumer will almost always beat Gerber.

----------

no offense - but, I understand MA / MAPD's very well. I was not familiar with the MSA that these clients received and how it worked. But - JD enlightened me . ..



Correct . . .



I assume you are talking FE? MOO better than Gerber?

Thanks, I guess? But I didn't say anything about MSA's and that's not what this AT&T thing is about.

 

[myinsurebiz]

It's not an MSA. Never was.

And no, I don't think you do understand MA plans.

Bob - that it what Bell South calls it - a MSA - Medical Savings Account. This is what the clients reimbursement forms have it listed as - not my terminology . . .

Thanks, I guess? But I didn't say anything about MSA's and that's not what this AT&T thing is about.

Yea - they call it a MSA which is basically a HSA . . .

 

[somarco]

Can't believe they changed the terminology from a couple of years ago when it was an HRA.

The way the ATT plan is structured does not meet the normal definition of an MSA but it does fit the HRA.