Errors To Avoid When Choosing A Medicare Advantage Policy Pt. 1
It was a touching meeting with a couple at the kitchen table as tears ran down their faces. He was really sick, was losing weight quickly because of digestive problems, and had very painful headaches that made his life seem like the only way to live without pain. To say they are afraid would be an understatement. Doctors who are managing their current C part of Medicare have not been able to diagnose the problem. They only prescribed several medications, which aggravated his problems. In addition to his medical puzzle, the policy refused medical tests to diagnose his problem. It was the month of October 2011; crying, they asked, “What options do we have?”
For this situation, we jointly decided that it was in his best interest to switch to a Medicare Supplement Policy (MediGap) that would allow him to visit a facility or doctor who accepts Medicare, with a “health status”, and Prescription Drug Policy in Part D. “It was imperative that he could find the best of the best in every region of the country: we chose an additional policy F and a carrier that would allow him to move from a less expensive and expensive without proof of insurance.
Could you avoid this problem? An emphatic yes. Here are some of the errors people have made and the solutions that will guide you in choosing the right option for YOU: ERROR # 1: Who are you working with?
* Work with an “owner insurance agent” (i.e. direct employment with the carrier, usually W2, bonuses and/or commissions) or work with an “independent career agent” (1098 contractors with the carrier and cables provided). This last term can be really disconcerting. They are considered independent, but if they turn to another insurance provider as legitimate for the participant, the contract can be terminated at will. What incentive will the agent have if he loses his main source?
Another mistake is to work with an agent who is not certified to market all types of Medicare health policies. Only certain Medigap supplemental policies may be marketed without certification. For 2020 visit medicareadvantageplans2020.org to get an advantage plan for 2020.
Go to the insurer directly. If something happens on the side, it will be helpful to have a lawyer on your side, especially a visible lawyer, who lives and works in your community.
SOLUTION #1: Choose an independent insurance representative representing more than one insurance company. Why is that? The reason is because independent agents know the advantages and disadvantages of ALL policies and will be able to convey this information so that you can make an informed choice. They receive compensation from insurance companies, but they are not loyal to any company in particular. Also watch out for carriers who force their “independent agents” to sign an exclusive agreement. This usually happens with Medicare/Medicaid policies or “Dual eligible policies”. Would the agent be “non-partial” again if he was contractually obliged to market only one policy? Select a certified Medicare agent who can market the MediGap, Part C and D policies. They also benefit from additional training and supervision.