What MedSupp Products Agents Should Offer

[vic120]

AARP Medicare Supplement has been the most consistently stable product that we've worked with since 2008. The persistency of that product has been amazing, and clients who buy it usually only leave it if they pass away. That's really valuable to many agents, considering the time involved in having to roll a book of business that gets a 12% increase 18 months after getting an 8% increase...which sometimes happens with other carriers.

Persistency Yes, It is crazy how many I run into who have UHC AARP or BC that are paying $100 even as much as $200 over the market but won't switch because they believe only BC or AARP will pay all the bills

Same thing with some on Overpriced under covered retirement plans

This does not make it good

But Unless the client resides in the few good state for UHC the ones off the top of my hear NY FL CA MI maybe a couple more, But for most of the US they have incredible high increases also because they have that decreasing discount included

There MA plans are really competitive but in most stated their med supp is not

They used to be good for hard cases until I started getting client bumped to level 2 premium but they don't let you know till they send you a secure email 2 weeks after approval

I don't know if they improved the level 2 thing,at least that is the way it was 2 years ago

 

[rousemark]

We apologize if it is difficult to hear the audio in the videos. The N&F office is located in Pittsburgh, Pennsylvania. Pennsylvania state law mandates that businesses operating as we are have all employees in masks in indoor spaces. We are simply complying with the directives of the governor and the PA department of health. In addition to Bill and his guest, we also have our videographer in the studio with them.

While we'd prefer to be bringing you - and other insurance agents - content without the masks, that unfortunately isn't our current reality. If the weather was warmer, we'd be shooting our videos outside without the masks. However, the 22 degree temperatures in Pennsylvania recently make that a little bit of a stretch. We can talk to our video team and see if we can find a resolution surrounding the audio in the meantime. Thank you for understanding!

Rent a meeting venue across the state line..

 

[Bill_Kiray]

But Unless the client resides in the few good state for UHC the ones off the top of my hear NY FL CA MI maybe a couple more, But for most of the US they have incredible high increases also because they have that decreasing discount included

There MA plans are really competitive but in most stated their med supp is not

We've honestly been surprised how well their rates have been coming out on CSG in a number of states where they had previously been $10-15 or more off the floor. Their recent rate strategy has seen them slightly tighten underwriting, while increasing commissions and becoming more premium competitive.

 

[vic120]

We've honestly been surprised how well their rates have been coming out on CSG in a number of states where they had previously been $10-15 or more off the floor. Their recent rate strategy has seen them slightly tighten underwriting, while increasing commissions and becoming more premium competitive.

T65 probably not so much with older even when they are close $30 tom $50 you still have to account for decreasing discount

Also, You never know when and why they will bump someone to level 2 premium

I have had 8 in 2 AEPS before I stopped using their med supp in states besides NY and FL, (Don't do CA and MI much anymore)


Certainly don't know where you get locked in at 3 1/2 % increases Unless you are using just one state like NY for instance that is different them most of the country

2 of them were only one 1 or 2 BP meds and UHC said they had heart condition But got one approved elsewhere no problem the other HAD guliien barre syndrome while its good with UHC not so much other carriers but UHC still bumped him because of 1 BP med

Look I am not going to argue with you most in the field know this about UHC anyway

 

[Bill_Kiray]

T65 probably not so much with older even when they are close $30 tom $50 you still have to account for decreasing discount

Also, You never know when and why they will bump someone to level 2 premium

I have had 8 in 2 AEPS before I stopped using their med supp in states besides NY and FL, (Don't do CA and MI much anymore)


Certainly don't know where you get locked in at 3 1/2 % increases Unless you are using just one state like NY for instance that is different them most of the country

2 of them were only one 1 or 2 BP meds and UHC said they had heart condition But got one approved elsewhere no problem the other HAD guliien barre syndrome while its good with UHC not so much other carriers but UHC still bumped him because of 1 BP med

Look I am not going to argue with you most in the field know this about UHC anyway

No product is perfect for every client, or every agents. Agree 100% with you on that. Otherwise there would only be 1 carrier offering 1 plan...

Last item from me: AARP Medicare Supplement national average rate increase between 2014 and 2020 was 3.2% per the company. Obviously varies state to state, plan to plan, but that's the national annual average.

 

[vic120]

No product is perfect for every client, or every agents. Agree 100% with you on that. Otherwise there would only be 1 carrier offering 1 plan...

Last item from me: AARP Medicare Supplement national average rate increase between 2014 and 2020 was 3.2% per the company. Obviously varies state to state, plan to plan, but that's the national annual average.

Just simply not true, In some states, yes, But you are also not calculating the decreasing discount

But you can make the data say anything, if you torture it enough

Maybe if I look at T65 to 68-year-olds I can see that number but not if you include 73 to 85-year-olds the Gap in cost for those ages is HUGE

My ARRP clients in NC SC TX Il and several others are high, And more high the higher the client's age

My clients in FL NY MI, and CA are much more competitive

Unless you are looking at T65 only

But listen if you really believe 3.2% average then I say you are not in the field

But ok believe what you want