BREAKING NEWS....AGENT ALERT: YOUR CLIENTS WILL NEED MORE HELP IN 2013….

BREAKING NEWS....AGENT ALERT

 YOUR CLIENTS WILL NEED MORE HELP IN 2013….

EVEN WHEN COVERED BY MEDICARE, MEDICARE ADVANTAGE AND MEDICARE SUPPLEMENTS

Earlier this year, prior to AEP and the Medicare Supplement sales season, we at Senior Marketing Specialist published the article below; Why Cash is King, Hospital Indemnity Insurance. In three short months the landscape has changed in the senior market and we have seen significant growth in the sale of indemnity products with CASH benefits paid directly to the clients. What’s changed???

The Medicare Payment Advisory Commission (MedPAC) and the Congressional Budget Office (CBO) have three proposals on the table to prohibit first dollar coverage for Medicare Supplements with proposed caps of $7,500 out-of pocket, EVEN WITH A SUPPLEMENT!!! 

• 2013 Medicare deductibles have increased for both Part A and Part B!!!
• Medicare Supplement Plan K has an out-of pocket of $4,800 for 2013!!!
• Medicare Advantage Maximum Out-of-pocket can run into thousands of dollars!!! 

Both our independent agents and our career agents at Barnes Group are using this product to supplement their client’s coverage, even when they have programs that supplement Medicare!!! 

Here’s a reprint of the original article:

Why Cash is King
Hospital Indemnity Insurance

Indemnity insurance plans were one of the first health plans to ever be sold in this country. A very simple concept, if you have an illness or accident and accrue medical bills we, the insurer, will pay you a set dollar, indemnity, amount based upon the policy provisions for coverage. 

Many policies in the health insurance field today are so complicated in their benefit structure that even I, with 30+ years’ experience, have a have a hard time understanding what is covered and how much am I going to get paid. The Hospital Indemnity Policies being offered today are a classic example of knowing what you’re buying and understanding the benefits. These policies provide cash to the policyholder that can be used for any number of items after they have been confined to a hospital: 

• Paying health insurance deductibles, whether underage, Medicare Advantage or Medicare Supplement.
• Paying for Home Care
• Paying for charges not covered by other insurance.
• Paying bills at home.
• Paying for housekeeping while you recover.  

Many of these policies also offer riders to pay for doctors, surgery, cancer, and prescription drugs.  In most cases the cash indemnity is paid to the policyholder direct and they can then use the money as they see fit. The underwriting is minimal and premiums are affordable, starting at just a few dollars a month. Even those on a fixed budget may able to afford this coverage.

The largest medical bills that a person receives are when they end up hospitalized for illness or accident. So, why not insure that risk and make sure you have the money when you need it the most, after being confined to a hospital for illness or accident. After all, CASH IS KING!!!

Your clients will have medical bills that exceed the payments made by Medicare, Medicare Supplements and Medicare Advantage. Today we have a solution and we at McNerney Management Group, along with our subsidiaries Senior Marketing Specialists and Barnes Group will be developing new products and solutions to help to help you and your clients in 2013!!!

(This article was written by Philip Warren of Senior Marketing Specialists.)