Do Medicare Advantage Brokers Choose MA for Themselves?

Investment Analysis Clubs Macro Economic Trends and Risks
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{{In general, most brokers and agents in the focus groups recalled receiving higher commissions — sometimes much higher — for enrolling people in Medicare Advantage plans compared to Medigap supplemental plans for traditional Medicare, with some variation by geographic region and new enrollments versus renewals.

Brokers and agents said they tend to sell the combination of traditional Medicare with a Medigap policy to beneficiaries with higher incomes, and Medicare Advantage plans to those with lower incomes.

Most brokers and agents said they personally would choose traditional Medicare with Medigap, believing that combination offers better coverage and choices than Medicare Advantage, particularly as people age. }}

Sounds like thems are “selling apples” rather than “eating apples”. {{ LOL }}

intercst

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AI is your friend only because Google is not an insurer.

Yes, Medicare Advantage plans can be slow to pay claims, and this is a common reason hospitals drop them:

  • Delayed payments: Payment delays can last for months, which can strain hospital resources.
  • High denial rates: Most Medicare Advantage carriers have faced allegations of billing fraud and high denial rates.
  • Cumbersome prior authorization: Prior authorization requirements can be cumbersome. For example, someone diagnosed with cancer might wait 72 hours for expedited determination and seven days for standard determination.

Other reasons hospitals drop Medicare Advantage plans include: problems with denials of care and slow payments from insurers.

These issues have led to:

  • Hospitals cutting back on services
  • Hospitals laying off staff
  • Over 1 million patients losing coverage
  • Health systems dropping some or all of their Medicare Advantage contracts
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Are agent/friend says definitely steer clear of Medicare Advantage. He does not sell it.

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The broker/agents divide between knowing their product and being honest versus being much less honest.

I have a work friend who sells MA plans. He is moonlighting. He won’t venture into life insurance sales even though he is licensed. He is not able to bat aside myths or someone else’s dishonesty. If a salesman does not bat away something questionable in the first few moments the rapport in life sales won’t work. Integrity needs to be established immediately.

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This question is like asking if “assets under management” advisors use “assets under management” advisors.

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