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Crowe & Associates

Crowe & Associates. Marketing with high deductible F plans Topics United American and First United American changes for the better How high F plans work Marketing strategy Contracting and Comp. Crowe & Associates. Marketing with h igh deductible F plans UA and FUA changes for the better

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Crowe & Associates

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  1. Crowe & Associates • Marketing with high deductible F plans • Topics • United American and First United American changes for the better • How high F plans work • Marketing strategy • Contracting and Comp

  2. Crowe & Associates • Marketing with high deductible F plans • UA and FUA changes for the better • First United American in NY • United American in other states • Recently purchased Globe Life • Company is A+ Rated with AM Best • In the Medicare supplement business since 1947

  3. Crowe & Associates • Marketing with high deductible F plans • UA and FUA changes for the better continued • No longer require face to face sales • Can use paper application or E-application • E-application does not need to be face to face • Can write a policy 6 months prior to A & B start date and get paid in a week • Social Security number with an “A” after it • Lifetime renewals

  4. Crowe & Associates • Marketing with high deductible F plans • UA and FUA changes for the better continued • No certifications required and no CMS marketing rules to prospect • Lowest high F rates in just about every state (very low in NY and CT)

  5. Crowe & Associates • Marketing with high deductible F plans • Understanding the high F plan • Deductible for 2017 is $2,200 • Important- Medicare pays their portion and client only pays what is left over • The client does NOT pay the first $2,200 of services. • Client will pay.. • Hospital part A deductible of $1,316 per stay • Part B deductible of $183 • Part B co-insurance of 20% (only what Medicare allows)

  6. Crowe & Associates • Marketing with high deductible F plans • Understanding the high F plan continued • What does Medicare allow? • About $50 for a primary visit and $80 for a specialist • $400 for an MRI • Client only pays 20% of what Medicare allows • Any out of pocket for the client goes toward the $2,200 deductible. • Remember: supplements do not have networks

  7. Crowe & Associates • Marketing Strategy • Know the math on High F vs. plan F • Connecticut rates are $53.00 a month • Plan F is $239 a month in Ct • $53 x 12 = $636 +$2,200 =$2,836 • $239 x 12 =$2,868 (no matter what happens) • Very few clients will actually meet the $2,200 deductible which will save them money • (more later on how many hit the $2,200)

  8. Crowe & Associates • Marketing Strategy • Know the math on High F vs. plan F continued • NY rates are $64 a month in boroughs, Westchester, Rockland and LI (except Brooklyn) • Plan F is $269.50 • $64 x $12 =768 + $2,200 = $2,968 • $269.50 x 12 = $3,234. • Save money even if you max the $2,200 deductible • Rates are $53 in all other counties except Brooklyn • Rates are $71 in Brooklyn

  9. Crowe & Associates • Marketing Strategy • Who hits the deductible? • Age 65 to 67= 9 out of 10 people will spend average of $541 for the year • Age 68 to 72= 8 out of 10 people will spend average of $647 for the year • Age 73+ = 7 out of 10 people will spend average of $754 for the year

  10. Crowe & Associates • Marketing Strategy • How to Market the plan • In CT and NY you can change supplements the first of any month • Show them the math of why they should go with high F • If they don’t like the high F, Move them back to the F plan they had before (Guaranteed issue) • Either way, you get paid

  11. Crowe & Associates • Marketing Strategy • How to Market the plan continued • Great way to market to people that already have a plan F or plan N supplement. Show them the math and move them. • You can cold call off a phone list to people of any age 65 and up. • We will provide phone lists at no cost • Call old mail responder and new mail responder leads.

  12. Crowe & Associates • Marketing Strategy • How to Market the plan continued • Talk to senior centers about why their clients should be in the high F plan. • Tell them you will explain everything and process it. If they don’t like it, you will also take the time to move them back to their old plan. • You can approach any senior advocating organization with this strategy

  13. Crowe & Associates • Marketing Strategy • How to Market the plan continued • Tell prospects, a new supplement plan came out with a much lower rate. • If they have a Medicare Advantage and want out of it… • Use the Anthem 5 star plan in CT for an endless special election • Use EPIC in NY to move them. • Bring scope of apt forms (if they decided to talk about advantage or part D) and BOR/AOR letters

  14. Crowe & Associates • Marketing Strategy • How to Market the plan continued • This strategy offers a lot of advantages • No CMS marketing rules • Gives you a chance to get new supplement clients by replacing plan F, N and G. • You do not get paid moving from F to N with the same company. This strategy gets you paid. • If client wants to move back, move them back and get paid for that. • You will not/should not write high F all the time but it will put you in front of more people.

  15. Crowe & Associates • Marketing Strategy • How to Market the plan continued • When you do write the high F • Show them other products.. • GTL Hospital and short term stay plan • 3,6 and 10 day benefits. Short term stay (observation)included in 3 and 6 benefit • Critical illness plans • Cancer plans

  16. Crowe & Associates • Marketing Strategy • Contracting and compensation • UA and FUA gives out 14% street contracts • We will set up agents at a street of 16% and agencies at 18% • Renewals are lifetime on all policies with a 12 month advance • Obviously the payout is low on a high F plan but the point is to use high F to get in front of more people. • You will make money over time as the average person stays on the high F over 12 years

  17. Crowe & Associates • Marketing Strategy • Contracting and compensation continued • Contracting is easy. Email Lisa@croweandassociates.com • You will be sent a system generated link from United American (FUA in NY) • Fill everything out and get contracted • We can set up subs under GA’s. (GA needs to give us their contract code once they have it) • Use the blog for access to all the paper forms. • http://www.croweandassociates.com/agentblog/united-american-insurance-sales/

  18. Crowe & Associates • Marketing Strategy • Contracting and compensation continued • Those using the E-app will need to take an additional webinar after contracting • My experimental email to the senior center • Call or email us with any questions, contracting requests or to get an prospecting list • Call Ed if you want to discuss this strategy in detail • Thank You

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