What Med Supp Plans Do You Recommend?

russelltw

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Agents,

I am moving into the med supp market. Although I have sold them for over 5 years (from my book of business), I have mostly recommend plan F due to it's price and popularity.

I know those under 65 on disability only have a few options, but when do you recommend the other plans? What client situations lead you to recommend something other than F?

Thanks
 
Agents,

I am moving into the med supp market. Although I have sold them for over 5 years (from my book of business), I have mostly recommend plan F due to it's price and popularity.

I know those under 65 on disability only have a few options, but when do you recommend the other plans? What client situations lead you to recommend something other than F?

Thanks

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

Take the results of those 3 questions, you can narrow down to 1 or 2 options, and let them pick. If they don't mind deductibles, don't travel overseas, I usually go D or C, depending on if the D is more than 160 dollars cheaper than the C. Same with F vs G. If they would rather pay copays for lower monthly premium, go N.

The others are basically there in case of specific situations for coordination with retirement benefits as far as I look at it.
 
Plan F will probably make up 85% of our 2010 Medicare Supplement sales. The only reason it's not higher is because of Mutual of Omaha's guaranteed issue Plan N.

It's hard to go wrong selling Plan F.
 
Here's the rundown.

Do you travel overseas or take cruises?
YES = F, G, N
NO = C, D, N

Why did you say "no" to C, D, and N?

The last time I checked C, D, and N paid the same Foreign Travel benefit as the other plans that offer.

The main difference between foreign travel coverage provided by a Med Supp and the coverage one can get like through a travel agency is that the Medicare Supplement plan will not repatriate them. This could be huge.

With the Med Supp coverage they will also have to pay for the charges and get reimbursed when they get home. At least that is the way it was the last time I checked.
 
It's hard to go wrong selling Plan F.


If you want to learn the advantages of the other plans over an F, you'll see very quickly that an F plan is generally not the correct choice.

I have sold more G, D, C, than F this year.

If you don't understand the advantages of the other plans over an F, you probably shouldn't attempt to sell them, the F is absolutely the easy choice.
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Why did you say "no" to C, D, and N?

The last time I checked C, D, and N paid the same Foreign Travel benefit as the other plans that offer.

The main difference between foreign travel coverage provided by a Med Supp and the coverage one can get like through a travel agency is that the Medicare Supplement plan will not repatriate them. This could be huge.

With the Med Supp coverage they will also have to pay for the charges and get reimbursed when they get home. At least that is the way it was the last time I checked.

Cruise ships often don't accept medicare assignment, which can subject them to the excess charge. I figure better safe than sorry on someone that travels internationally or takes cruises, since it's typically a 1-3 dollar a month difference.
 
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Agents,

I am moving into the med supp market. Although I have sold them for over 5 years (from my book of business), I have mostly recommend plan F due to it's price and popularity.

I know those under 65 on disability only have a few options, but when do you recommend the other plans? What client situations lead you to recommend something other than F?

Thanks

The only reason I don't recommend or sell Plan F is the cost.

I have been selling Plan D for seventeen years. Anytime the difference between Plan D and Plan F is quite a bit more than the Medicare Part B deductible, Plan D is a better investment of their premium dollar. Obviously if the difference is only a few dollars it may sense to sell a Plan F.

I have seen a Plan D or G be as much as $300 to $600 less than a Plan F. Right now in Missouri there is about a $400 per year difference between Plan D and Plan F. Agents who sell Plan F have made me successful. I love agents who sell Plan F. :biggrin:

Now that Plan N has entered the mix one also needs to do some fact finding to find out if Plan N would be a good option.
 
Also, in the flow chart example there, I said if they don't travel internationally or take cruises I default to C, D, or N, but N is in both sides since it does cover the excess charge.

I know they all have the same foreign travel emergency.
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Default for me is that if the D or G is 170 or more cheaper annually than the C or F, I go D or G. I also explain that I've seen carriers 15% increase the F, N and 5% rate increase on G in the past, which leads me to believe that the rate increases will be less severe on the D and G.
 
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Also, in the flow chart example there, I said if they don't travel internationally or take cruises I default to C, D, or N, but N is in both sides since it does cover the excess charge.

I know they all have the same foreign travel emergency.

Every outline of coverage I have does not show Plan N covering Excess Charges. You must have a different Outline of Coverage than I do.

Plan N is a Plan D with an up to $20 copay.
 
Every outline of coverage I have does not show Plan N covering Excess Charges. You must have a different Outline of Coverage than I do.

Plan N is a Plan D with an up to $20 copay.

I doubt it, I'd say you're right and I had it wrong in my head. I was doing that from memory. I also rarely use the N, unless its the GI version from MOO for people with COPD or cancer that I can't write otherwise.
 
The only reason I don't recommend or sell Plan F is the cost.

I have been selling Plan D for seventeen years. Anytime the difference between Plan D and Plan F is quite a bit more than the Medicare Part B deductible, Plan D is a better investment of their premium dollar. Obviously if the difference is only a few dollars it may sense to sell a Plan F.

I have seen a Plan D or G be as much as $300 to $600 less than a Plan F. Right now in Missouri there is about a $400 per year difference between Plan D and Plan F. Agents who sell Plan F have made me successful. I love agents who sell Plan F. :biggrin:

Now that Plan N has entered the mix one also needs to do some fact finding to find out if Plan N would be a good option.


And usually doesn't Plan F have a higher rate increase than Plan D?
 
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