Quote:
Originally Posted by csx4910
But you still didn't answer my question of how much of a commission you get for selling them and would your answers change if you were able to "sell " people to sign up with straight Medicare?? Obvioulsy your bias is slanted on how you get paid. Nothing wrong with that but at least be honest with us (and yourself) in admitting it. You dont know the first thing about dealing with Reimbursmeent and payment from Medicare if you actually haven't done it.
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Of course I got paid, that is a given. Same as you get paid for what you do. I'm happy to help people for money. No money, they're screwed.
Reimbursement from Medicare and non-Medicare Insurance Companies, I probably know more about it than you do. The other half of this household is a semi-retired consultant on just that, Reimbursement! I even know how to spul it
. Before retiring my wife ran medical billing companies and has held the position of Chief Financial Officer of a large hospital and the same position in a large hospital chain.
I sympathize with you about The Gov't. run Medicare reimbursement rates. I have held in my hand many times the actual 'schedule of benefits.' and saw that it often times is ridiculously low. But that, not Medicare Supplement Insurance is the source of your complaint. As previously stated, they must pay 20% of the Medicare approved rate and they do not get to determine that Medicare rate. The Gov't. does.
In "normal" insurance, many people complain about long waits to be paid. Homeowners, auto, non-Medicare health insurance, even life insurance. That is because the companies must investigate the claim to verify that it is real and they must pay it. They won't if they can get out of doing so.
But not in a Medicare Supplement. Medicare determines if the claim is payable and notifies the insurance carrier of their responsibility to cover the 20%. Investigation over!
I also sympathize with you about HMO's [And I could have made 2.5 times more commission selling HMO's, BUT NEVER REPRESENTED ONE] The reason? In our area more than a dozen Medicare HMO's came in, signed up VERY few Doctors, none of the 'known Doctors' and eventually closed their doors. When they first started up I told some of my poorest clients to drop their supplement [that I was receiving a commission on] and to join the HMO, reason no premium and Rx coverage. I did not sell them or make money, I lost commission. Then the performance of these HMO's made me regret giving 'free advice'. They instituted premiums for coverage period, and higher premiums for Rx coverage and then they close up and the people are left terrorized with no Supplemental coverage. [I was never a good enough salesman to convince people that they did NOT need what EVERYONE else said they MUST have] So after a year or 2 in a HMO they had to get a new Supplement. Scenario: Senior buys Med Sup at age 65, his "attained age." He will be 65 forever with that company. Keeps his coverage for 3 years, then drops it to join a HMO. 2 years later the HMO folds. Now he buys a Med Sup again. Now his "attained age" is 70 and he with pay the premium for 70 forever with that company. [even if it was with his first Med Sup company.]
And in agreement with BOTH of you, I have often said that the care a senior receives under Medicare is terrific, but ONLY because the low paying Medicare is propped up by the in place, for profit, health care system we all now enjoy. Your non-Medicare patients pay you enough, or nearly enough, to allow you to treat the low reimbursement Medicare patients. A total Gov't system takes over and all reimbursement would be at those low rates which means you would be selling real estate, or UGH, insurance, or building Cobras, or selling shoes. But you would not be able to afford to be in the medical business.
I have never said a word about Medicare being a good financial plan, only that seniors get good care. Which is a compliment to both of you.
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