Ask the Medicare Specialist
QUESTION:
Question from Gary: I didn’t know about your company when I turned 65 and went on Medicare. I really like my plan and don’t want to change. Is there any way I can still be a client of The Health Insurance Store? I really like all the services you offer and I’ve never once heard from the agent who sold me my policy.
ANSWER:
Although we can’t become your agency of record as far as your insurance company is concerned, or collect a commission without a change of plan, there are a couple of ways you can still become a client.
If you have a Medicare Supplement, that means you almost certainly have a Stand-Alone Part D prescription drug plan as well. One of the most common mistakes people make is to simply renew that plan year after year without having it analyzed. Our biggest concern isn’t a Part D premium increase of a few dollars. It’s the changing of drug Tiers from two to three or three to four, or the removal of a current medication from the formulary. We check every single one of our clients’ Stand-Alone Part D plans, which number just under 7,000, each Annual Election Period (AEP) to ensure they’re on the plan that keeps as much money in their pocket as possible. Not changing can easily cost someone as much as $1,000 over a 12-month period.
So, Gary, if you have a Supplement and Part D, you can become a client by allowing us to analyze your drug plan this October during AEP. You, and anyone else who has a Supplement they don’t want to, or can’t change due to preexisting conditions, can call the office and be put in our database as a Part D only client. You will then receive the recommendation letter we mail every Supplement client in late September/early October. In that letter we let clients know if they are best to stay on their current plan or if there’s a better/less expensive option. We also include a form to fill out with an updated list of current prescriptions, what we use to determine which drug plan offers the best value for the following year.
If you have an Advantage Plan HMO or PPO, you can become what we term a “non-commission” client. Simply call the office and let whoever answers the phone know you already have a plan but would like to be put in our database. Like Part D, Advantage Plans can also change benefits from year to year. This can be for the better or worse. The recent trend has seen premiums and co-pays actually decreasing and ancillary benefits such as dental, vision, OTC allowances, etc., becoming more generous. However, competition is so fierce, even if the latter happens with your current plan, that doesn’t mean you will have one of the handful we recommend to our clients each AEP. If that happens to be the case, we’ll inform you, again via our annual recommendation letter, that a plan or plans are available we feel offer overall better value and an appointment to compare yours to others side by side is in order.
As far as the agent who originally signed you up never contacted you, that’s not uncommon. When I opened 14 years ago, I made the commitment that the goal was to provide clients with the best customer service experience they’ve ever had. That was reflected in my original Mission Statement I wrote in 2008 and it’s never changed. “I built The Health Insurance Store on a few simple concepts: Treat everyone with respect. Be honest. Work hard. And help everyone who calls or walks through the door even if it doesn’t result in a commission. Agents at the Health Insurance Store will never give you advice based on how it affects their paychecks. Our only concern is doing what’s best for your health care needs and budget. Once you obtain a policy, we will assist you in any way we can by answering questions, taking care of problems, or handling any issues that may arise as long as you remain a client.”
We have a dedicated staff that are always available to help and advocate for our clients in the event there are medical billing issues, claim denials, prescription questions or concerns, or anything even remotely related to a health, Medicare, or life insurance policy purchased from our agency. We always call with, or for our clients so that we can ensure any and all issues are 100% resolved. We also have a Prescription Drug Caseworker, Tony DiRoma, who works one on one with any client who is dealing with the prospect or already paying excessive prices for medications. He’s excellent at finding programs that can alleviate exorbitant expenses. His services and all others we provide, including initial consultations with prospective clients, are always no cost.
For questions, or if you would like to be put in our database and receive our recommendation letter this coming AEP, give us a call or reach out to me personally via email, aaron@getyourbestplan.com.