Medicare Intelligence
** 2.1 Min Read Time **
A popular show on AMC is Turn. It is about General Washington’s spies during the Revolutionary War. You find out quickly that intelligence is critical for an army to be successful. It was intelligence that moved Washington to cross the Delaware River Christmas night to catch the Hessians sleeping at Trenton. That victory was one of the turning points in the war.
Do you have the best Intel on your Medicare supplement? Part-time supplement sales people know very little about Medicare, Medicare products, and the insurance industry. How could they? They have little training. They do it when they are not doing their day job or taking care of family concerns. The insurance companies and agencies that recruit them do not invest a great deal of money or energy in them because they know most of them will not be there next year. Consequently, their knowledge is very shallow.
Why’s that important? Because they are making recommendations for you about your Medicare supplement. They do not have the training, tools, or experience to pull back the skin on these insurance products to see all the moving parts.
For example, what was the annual rate of increase for a Medicare supplement for the past five years? If client premiums increased 2% or 12%, that is a big difference and big deal. Yes, prices go up, but will the insurance company give you a great price today and turn around 3 years later to jack them up? As we age, the chance of health issues arising is much higher. It will be more difficult to change companies when we get older. You don’t want to be stuck with a company that is going to drive the prices through the roof as you age.
What is the age increase? Each year most supplements will go up as you age because the costs go up as we age. Is the age increase 2% per year 4%, 7%. That’s important. Does the company have a real low price when you turn 65 or 66, but then goes through the roof by the time you are 80?
An experienced insurance profession will be able to show you the numbers, interpret the numbers, and explain the numbers. The cheapest price is not always the cheapest price. There are other variables. That is Medicare Intelligence.
Intel is important for armies to win battles. It is important for people selecting Medicare Supplements so that there are no costly ambushes down the road. Medicare Intelligence shows the hidden flaws.
