What's the Best States to Sell GTL Hospital Indemnity Plans for Seniors?

[vic120]

I recently wrote a Medico 7 day/ $300 in CO for $22.98 (67 female). 50% HI for Observation - 3days - ER $150- 3days - Fla. $57+ with the 31 day requirement.
Contract thru Premier Cos.

Yea wanted to know FL because they require 30 day beni

that's what makes them dif


Have GTL and heartland for other states if I need

I can do medco $60 appointment if I want

not doing it if its like $50 or so just to get that hosp copay done

 

[BobbyMcGee]

No appt. fee required in CO or AZ

 

[thomasm]

I'm wondering what the value of a hospital indemnity plan might be. If you have an MA plan wouldn't adding this just bring the cost closer to a med sup?

Maybe a HDF is a better option that case.

Rick

For me it's a great door opener. With 40% MA penetration rates here, you got to have something else in your bag.

When I find out they have an MA plan, I just review their daily hospital and skilled nursing copays them. Then I ask them have they budgeted for the MOOP? If there is some concern about out of pocket, then I tell them there's a plan now available to help with some of those costs.

GTL is the only one I've seen that seems like it was designed specifically to complement MA plans.

Your right though! They do tend to lose interest once I get to the price, but now I got them thinking these MA plans aren't all there cracked up to be!

I do write one occasionally, but more often it gets the conversation rolling about the going back to traditional with a supplement option!

You still can win in a high MA penetration environment, simply because most agents are just going for the bigger upfront commission and not explaining the benefits of choosing traditional with a supplement.

 

[vic120]

I'm wondering what the value of a hospital indemnity plan might be. If you have an MA plan wouldn't adding this just bring the cost closer to a med sup?

Maybe a HDF is a better option that case.

Rick

Well I'm not a fan of the HDF

but my rule of thumb is I present the dif between sup and MA

they usually agree Supp is a better plan but if they cant afford it or are set on MA

If I can get them a good MA at $0 and a hosp plan for $30-$45
then I think its a good buy

but if we start adding things up to $70 + then I reenter the plan N discussion

 

[thomasm]

One way to get the price down on the GTL is just quote the hospital copay benefit only.

Once you gotten them written up, then up-sell the daily skilled nursing benefit and ambulance rider!

 

[Chazm]

I'm wondering what the value of a hospital indemnity plan might be. If you have an MA plan wouldn't adding this just bring the cost closer to a med sup? Maybe a HDF is a better option that case. Rick

Some value here in FL. $0 premium plan, refund of $104.90 part b premium plus a $40 HI+cancer to cover inpatient or cancer OOP. Or a $180 med supp. I'd much rather write the med supp even though it pays less but I know they'll stick with it long term.