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I've been seeing 5-10% difference in rate increases between F, C and D, G, for the last 2 years, plus the base rates started out lower so the rate increases are dramatically higher with most carriers.
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Here's the rundown.
Do you travel overseas or take cruises?
YES = F, G, N
NO = C, D, N
Do you mind paying a deductible at the beginning of the year?
YES= C, F
NO = D, G, N
Would you mind paying copays for all doctor visits?
YES = C, D, G, F
NO= N
Plan N does not have $20 copays for all doctor visits. It's going to depend on how the doctor codes the visit. If it's a yearly physical, chiropractic visit, chemotherapy, or physical therapy those all have different code #'s. The client will want to hold off on paying the $20 office call copay until they receive the statement from the insurance company letting them know if they have a $ 0 balance or a $20 balance
And usually doesn't Plan F have a higher rate increase than Plan D?
Here's the rundown.
Do you travel overseas or take cruises?
YES = F, G, N
NO = C, D, N
Do you mind paying a deductible at the beginning of the year?
YES= C, F
NO = D, G, N
Would you mind paying copays for all doctor visits?
YES = C, D, G, F
NO= N
Plan N does not have $20 copays for all doctor visits. It's going to depend on how the doctor codes the visit. If it's a yearly physical, chiropractic visit, chemotherapy, or physical therapy those all have different code #'s. The client will want to hold off on paying the $20 office call copay until they receive the statement from the insurance company letting them know if they have a $ 0 balance or a $20 balance
The questions I run through aren't really there to completely justify every aspect of the policy. I know the 20% or 20$ copay does not always apply.
The deductible wouldn't always apply either, if you want to get really technical about it.
The questions are quick reference to how I qualify which policies seem to fit them very quickly BEFORE I go over all the details, not something for you to replace all your plan materials with.
Let me give you the right answer to your question. One Letter does not fit all clients.
Anything under an F plan in the alpha is inferior to the rest
F - covers it all so most agents sell it because they don't have to answer claim questions.
G- An F and Drops the Part B Deductible
N is nothing more than a G with co-pays
Premium highest with F, lowest with N. Personal opinion is Plan G is the best buy
Please explain the reason you're saying nothing about D and C.
I'm just curious if you understand them, when I first started selling the reason I didn't use D and C was because I didn't understand the difference between C and F, D and G, and what the difference actually meant.
Let me give you the right answer to your question. One Letter does not fit all clients.
Anything under an F plan in the alpha is inferior to the rest
F - covers it all so most agents sell it because they don't have to answer claim questions.
G- An F and Drops the Part B Deductible
N is nothing more than a G with co-pays
Premium highest with F, lowest with N. Personal opinion is Plan G is the best buy