How long will medicare assistance plans be around?
the math just is not workin out. Someone is taking a loss within this equation. i dont see how the plans are free, pay the agent 300-450 dollars. i know cms pays close to 8,000 a year to pay the premiums. i dont achieve why they would pay that. if it is to rescue cms money then it would be costing the insurance company. someone please improve me.
Answers:
I'm not sure what you question is, but here go.
1) Not all medicare power plans are free.
2) Don't know why you'd be paying an agent 300-450
3) Most plans cost between $25.-$100 a months for medicare advantage, surrounded by most areas. If you found premium free MA, way to travel!
I think the put somebody through the mill you're asking is how does medicare pay out adjectives the claims, considering the incoming amount of $ via premiums is so low... They invest the premiums, and make them grow...Then retribution the investment profits back out for claims... contained by addition to the taxes we pay envelope for medicare. Even if you use MA, the insurance company that is administering the plan still receive $ fr the government.
I imagine the real answer you're looking for is... A excise to an agent is unnecessary. And, the companies invest the premiums you pay.
The only losses will be contained by actual health comfort. Insurance companies are always the big winner.
Remember that employers and organization not covered by Medicare are still paying into the system. No one knows how long Medicare Advantage will be around. Some hospitals do not adopt and seem to to some extent wait for the traditional Medicare to repay them directly, even though they receive limited money for respectively service rendered.
The amount to the agent is not huge. On most health and insurance products we acquire a larger commission during the first year and then a small amount surrounded by the following years if the products are renewed. Sometimes we are charged back if the product is cancelled. There is no secondary compensation paid to agents after the initial clearing that I'm aware of.