What carrier will take my client if they have health issues?

What carrier will take my client if they have health issues?
Finally, you got your first Medicare Supplement client! Or maybe this isn't your first rodeo and you have a large book of business. Either way, it's always good to go back to the basics and get a refresher!

Remember back in the day when you had to go through every carrier rate guide one by one just to see who was the most competitive? Come to think of it… that wasn't too long ago. Thankfully, nowadays you can 
quickly and easily get your quotes online 24/7 using our quoting tool.

Here you will be able to research and compare each carrier URL is contracted with. This is a very helpful and versatile tool that you can also use to check the insurance carrier's market analytics, if there is a household discount available, if there is a policy fee for the carrier, and even apply the health question filter. Thank goodness for technological advancement!

When starting a Medicare Supplement quote, you will need the client's zip code, age, gender, if they are a tobacco user, which plan letter they are interested in, and the effective date they would like the policy to be put in force. Once the quote is generated, start at the very top of the list as these carriers will be most competitive.

Keep in mind you will want to check the companies rate increase history, AM best rating, and that you are contracted with the carrier before writing business.

One of the most popular questions we get is, "what carrier will take my client if they have health issues?" Great, I'm glad you asked. Each Medicare Supplement company offers some type of guide to help with the underwriting process and this will help you determine whether to submit the application or try another carrier.

These helpful underwriting guides can be found on our website under the carrier's Medicare Supplement product information page. At this point you want to review the application and health questions with your client. Typically, if they answer yes to a question in the health question section, they will not be approved.

Please note: If they are in their initial enrollment period (IEP), new to Part B or if they have a guarantee issue situation, they will not need to answer the health questions.

Now, maybe your client takes a certain medication and you are unsure if they will pass through underwriting because this prescription can treat multiple conditions. In this situation, you should call the carrier's broker support or underwriting department and ask to speak directly to an underwriter because they will know whether you should submit the application or go to another carrier.

If you can't remember all of this (don't worry - you can come back and read it anytime), just remember that we have three carriers that offer lenient underwriting: Highmark, UnitedHealthCare, and Cigna's ARLIC.

The process for selecting one of these companies is right at your fingertips. Just do the same thing you would for any other company, pull the application, review it with the client, and check the underwriting guide. Keep in mind that with lenience comes the possibility of a higher premium and the client could potentially be rated up with these companies. But if you are doing what's best for the client, then it's a win-win!

As a bonus, we've compiled many Medicare Supplement quick reference guides for all your most common questions, including these greatest hits:

  • Which plans have extra benefits (like SilverSneakers or vision discounts)
  • Which plans will accept you if you have diabetes, which carriers you can switch plan letters without going through underwriting
  • Which carrier's offer free marketing materials (after all, who doesn't love free?)

If you follow this streamlined process every time, it really can be that easy! If you have any other questions, please feel free to reach out to me or another team member for further advice, or leave us a comment below.

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Friday, 19 August 2022