Who Likes Oxford or Forethought Med Supps

[thomasm]

I'm picking up some contracts with my new imo.

Oxford has the best rate in my area for people age 65

Forethought is the most competitive for ages 75+

Anybody have any info on what the claims experience is like for these two companies?

What about underwriting?

 

[jdeasy]

I'm picking up some contracts with my new imo.

Oxford has the best rate in my area for people age 65

Forethought is the most competitive for ages 75+

Anybody have any info on what the claims experience is like for these two companies?

What about underwriting?

They are going to pay claims. Oxford med sups are not available in Ky but I did write one in Indiana recently. 80 year old insulin diabetic approved with them. The phone interview was brutal and they asked about many things not on the application but he was approved once it was all done.

Forethought doesn't have a POS interview but they call them after you send in the app.

I don't know if they call 100% of them but they have mine.

 

[just some f.e.llow]

I'm picking up some contracts with my new imo.

Oxford has the best rate in my area for people age 65

Forethought is the most competitive for ages 75+

Anybody have any info on what the claims experience is like for these two companies?

What about underwriting?

Never heard of Oxford having the best T65 rates ANY where...

Claims experience with either of those companies, however, is about average. Nothing unusual, nothing special.

 

[GreenSky]

Never heard of Oxford having the best T65 rates ANY where...

Claims experience with either of those companies, however, is about average. Nothing unusual, nothing special.

Define "claims experience." Do you mean loss ratio or how they handle claims? *Hint - all companies handle claims the same way and pay just as quickly.*

Rick

 

[Newby]

Isn't the claims experience with both going to be the same as any other Med Sup?

ForeThought is likely to pull out of the biz in the future.

 

[just some f.e.llow]

Define "claims experience." Do you mean loss ratio or how they handle claims? *Hint - all companies handle claims the same way and pay just as quickly.*

Rick

I took it to mean, "any crazy stories about these guys trying not to pay a claim," and/or "are they hooked into the CMS claims system so that claims are auto-paid".

I've never heard of issues with either company regarding either issue.

 

[GreenSky]

I took it to mean, "any crazy stories about these guys trying not to pay a claim," and/or "are they hooked into the CMS claims system so that claims are auto-paid".

I've never heard of issues with either company regarding either issue.

All companies operate the same way. Claim goes to CMS and then from CMS to the carrier.

The only agents who promote anything different are Bankers and UA. But they are Kool-Aid drinkers who even if they know better are happy to lie.

Rick

 

[just some f.e.llow]

All companies operate the same way. Claim goes to CMS and then from CMS to the carrier.

The only agents who promote anything different are Bankers and UA. But they are Kool-Aid drinkers who even if they know better are happy to lie.

Rick

Aren't there still a few medsup carriers that aren't hooked into the CMS system and still ask for claim forms?

I don't work with any of them but I know as of 2011 there were a couple...

 

[thomasm]

Good to know! I get that question sometimes. "I've never heard of this company. How do I know they will pay my claims?" Now I know what to say!

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Isn't the claims experience with both going to be the same as any other Med Sup?

ForeThought is likely to pull out of the biz in the future.

On their website, when you click on the medicare supplement tap, right under a medicare supplement heading, it starts rambling on about final expense.

Med Supp must be an "afterthought" gig for them!

 

[somarco]

ForeThought is likely to pull out of the biz in the future.

Informed comment or speculation?