It's time to review your book of business and reach out to your clients offering to enrich their health benefits with ancillary products. Join URL and George Pelekanos, Aetna Regional VP of Sales on February 28th at 10am to find out how to ask the right questions to your Medicare clients.
Senior Ancillary products to be covered:
- Cancer, heart attack, and stroke
- Home care
- Hospital indemnity
- Nursing home care
Register now to learn about the advantages of these products in addition to your Medicare Advantage and Medicare Supplements Plans.
Christy Wilbert: Hi everyone. Thank you for joining us today. I'll be your host, Christy Wilbert, vice President of the Medicare Offerings at URL Insurance Group. Our topic today is Senior ancillary products. So ancillary products are coverage options offered in addition to your Medicare supplement or your Medicare Advantage plan.
And they truly supplement the existing benefit so it creates a more well-rounded coverage for your clients. For example, a hospital indemnity plan, it could reimburse you for any inpatient hospital copay. Or a cancer plan can protect your greatest exposure for financial loss with out-of-pocket maximums or your part b co-insurance for durable medical equipment or even any network issues.
But the type of plan that we get asked about the most is dental, vision and hearing. So when we thought about a carrier partner that we were gonna have join us today, it was really an easy thought to say, we gotta grab Aetna They have all the plans that I mentioned plus more, and they have a super easy online quoting and enrollment tool on their website, so you just really can't beat it.
Today we have George Pelekanos regional vice president, joining us and he's gonna walk us through their offerings. So go ahead, George, and take it away.
George Pelekanos: Thank you Christy. Thank you everyone for joining today. Allow me, if I may just start by giving everyone a little idea of who I am and what I've been doing for almost four decades.
I've been in this amazing industry helping our senior citizens with their value add insurance and needs. Assuring that they have a retirement consisting of just pleasant retirement years, if you will, without any concerns. So I'm very passionate about what we're gonna talk about. We at Aetna Senior Supplemental Insurance, we have a very diverse product portfolio.
I hope you find 1, 2, 3, or all of the plans that can become part of your portfolio offerings that you share with your clients. The first slide here, this is a picture of our new building. It's in Orchard Farms, Tennessee. It's about 10 miles south of Nashville. And through this office, we issue, process, adjudicate claims.
We do everything from start to finish on all of our senior supplemental products. This is my mission. Caring for our customers, that's one common denominator we all have. Aetna Senior Supplemental Insurance provides you, our partner, the tools needed to achieve our common purpose in our quest for member satisfaction in this rapidly evolving market.
Holy smokes. Is it ever evolving? And that's a good thing team. Sometimes human nature, we embrace changes. Let's embrace changes, opportunity. I've seen it decade after decade. There's opportunity there. So this market is evolving. Be aware of how it is evolving. Be aware you as a trusted advisor, owe it to your clients to talk to them about.
At our Aetna's diverse insurance product portfolio allows clients, to look at their options. How are our clients gonna look at options if we the trusted advisor, do not bring those to their attention? So share options with your clients. We were an AEP not too long ago and you enrolled a lot of clients in a Medicare advantage, which is the viable option.
George Pelekanos: Naturally create a policy review. Go back and see these good folks, show them how not only can you offset that hospital per diem, but you could offset that 20% copay for chemo and radiation. That is huge liability. You can do that for a very minor monthly premium. What does that do? It generates an extra perpetual income stream for you, the agent, but over and above that, it gives a peace of mind.
It increases persistency, it creates validity in our professional demeanor and what we, the trusted advisors are all about. So share it with your clients. Let them look at options that bring ultimately value and peace of mind to their lives.
At my beginning of my career, I had something that was kind of a brain issue, and it was perception. I always perceived, oh, our poor seniors, they can't afford anything. Let me share with you, leave your perception at the door. Our job is not to perceive anything other than identifying charitable risk and offer viable long-term affordable solutions. These questions are going through our clients' minds.
What healthcare solution works for me? How will I pay for nursing home? How will I pay for home healthcare? How will I pay for dental vision and hearing costs? How will I pay my end of life expenses? Life insurance, right? How will I pay for cancer costs? How will I pay my copays? We can pick any of those bubbles there and say, well, how will I pay for nursing home? I'm not going to a nursing home.
Let's leave perception at the door. Nursing homes in years past, I remember in the eighties when I was selling long-term care. It'd be a different type of program, perhaps where grandma would go because no one was there to take care of her.
Today however, when we get sick or injured, we go to the hospital, they stabilize us, they move us different facets of care. Skilled, intermediate, custodial, maybe assisted living, maybe at home. We all have heard about that outpatient observation, which you're in the hospital, but you're not considered an admit, you're considered an observation. Be in there three days, four days. What does that affect? That affects the three day prior trigger for Medicare to cover their 20 day skills.
So we'll touch on each and every one of them, but These thoughts are going through our client's minds. Our product portfolio, what do we offer? We offer a very good Medicare supplement plan through either our Aetna or our Accendo brand.
We offer a hospital Indemnity FLEX, which we'll cover a little bit later. Cancer and heart attack or stroke, the best cancer plan on the market, barnan team. I'm not saying that because I work for Aetna, I'll share my little cheat sheet slide I put together here. It's the best on the market.
Recovery care, short term nursing home care plus, dental, vision and hearing. As Christy indicated at the beginning of our presentation. Final expense, there is a value add when a company can offer that full umbrella portfolio for your client. We have a product availability grid, which is available on your agent portal @aetnaseniorproducts.com. It'll give you a thump sketch of what products are available in the state you're selling in. Pretty diverse, so reference that.
Let's talk a little bit about Medicare supplement. It's kind of a boring subject, but we'll talk a little bit about it. Some of the earmarks of the Medicare supplement naturally choice of plans to meet the individual's needs. Decades ago, plan F was the thing, the hot plan, no other option, but plan F.
Then we transition to plan G. Now folks, plan N is the plan you should be talking to your clients about. We take a little Q&A at the end. Choice of licensed doctors, hospitals, you can go anywhere as long as they accept Medicare. There's no networks. There's not a 12 month renewal situation.
As long as your client pays their premium, their plan is perpetual. It's portable. It's renewable, right? No worries about losing coverage when they relocate. Unlike Medicare Advantage plans, Medicare supplement applications are accepted throughout the year. I don't know about you folks, but I have bills 12 months a year, not three, right?
So by being that trusted advisor, giving your client, here's traditional Medicare and a Medicare supplement, here's your Medicare advantage. Again, either of them are viable options, but Medicare and a supplement has some hidden benefits that your client needs to be aware of. Claims are electronically processed naturally.
There's no claim forms anymore. Why choose us? Broad choice of plans, portable coverage, guaranteed renewable, no preexisting condition at any time. Once we accept. A Medicare supplement insured. They're fully covered competitive commissions, competitive premium rates. We have sales incentives. I know in 2021 we paid $6.1 million out in agent sales incentives.
So if you're not aware of that, please reach out to me, Christy, or go on to your agent portal and see the great incentives we have out there. Again, plans A, B, F, G and then are available through our Aetna. Through Accendo we have A, F, G, and N. And for the household discount for the Aetna entities, we have a 7% discount.
Now there must be two policy holders in the home to qualify for the 7%. However, on the Accendo, they can get a 14% discount if they at least live with one, but not more than three adults. Let me start the conversation about speaking to the ancillary product line. Our federal and congressional cutbacks between 2013 and 2022 are 716 billion, and we've seen it.
We've seen it in terms of observation stays. We've seen it in many levels with the Medicare programs. So whenever there's cutbacks, that ultimately leaves a larger liability for our seniors. Let's talk a little bit about the protection series. Cancer and heart attack or stroke, I indicated to you that this is the best plant on the market, but let's realize the risk.
First and foremost, cancer is the second most common cause of death. 87% of all cancers are diagnosed in person's 50 and older. Every two minutes a child is diagnosed, 41% of men and 38% of women will be diagnosed during their lifetime. You know, cancer doesn't know age, creed, race, demographics. I don't think any of us have not been either directly or indirectly affected by this dreaded disease.
Heart attack is the number one cause of death in the United States. Responsible for one out of four deaths. That's staggering. About 720,000 Americans will have a heart attack this year. Stroke, third leading cause of death in women and fifth and men. So these are very common conditions that any of us can be diagnosed.
We can be an athlete and unfortunately, diagnosis for any of these conditions. It's always nice to be prepared. We spoke a little bit about the statistics. The good news is the survival rate is there, medical technology, right? By 2020, we're in 23, number of cancer survivors to increase 31% largest increase amount, age 65 and older.
85% of persons who have had a heart attack will survive. I'm one of the statistical percentages there, cardiovascular health, right? The bad news is that the cost of treating cancer has increased 27%. It's continually going up. Uninsured people with cancer are more likely to be diagnosed at a later stage.
Unfortunately, regardless of how good an individual's insurance is, there are so many costs related to cancer that either are not addressed by their policy or is considered indirect costs. Unfortunately, I lost my father about four years ago of cancer and one of his medications was $2,400 a month. That was not covered, wasn't in his tier one, two especially. It was not covered. That was a concern. So let's talk a little bit about how do we position cancer insurance? How do we start the dialogue to have that intelligent, realistic conversation with their clients, right? I was talking with one agent in Grand Rapids, and she says, George, I just don't know how to talk about that. I don't feel comfortable. I said, do me a favor, when you leave your client's home, whether you enroll in a Medicare Advantage or Medicare supplement, simply just let your client know. Thank you for owing your trust in me. It's gonna be a great pleasure being your trusted advisor. But again, this plan's a very good plan. But please, this is not intended to replace your cancer policy. The client may say, what? Cancer policy? Now you're in the dialogue, right?
So what are some of the benefits about our plan. Issued ages 18-89. So you could see how your market just broadened dramatically. Coverage options, individual, individual spouse or domestic partner, individual and children, child, or family plan.
So when you do your quote and enroll, you'll be able to identify which is applicable. I'm gonna share something that's very unique on the next slide of how we treat our family or the individual and or children plan. Benefits to payable upon diagnosis. It's not a schedule. It's not as though we're gonna pay X amount of dollars for this.
No. Once we get a diagnosis, a pathology showing there is cancer, we're gonna pay the benefit that client bought, lump sum. They could buy as low as $5,000 or as much as $75,000. Same lump sum benefit amount for each covered person paid directly to the policy holder or beneficiary. So if there's a family, right, you got a mom, a dad, and one child or 11 children. They each get the benefit amount that the family chose up to $75,000. Helps offset out-of-pocket expenses, no hospitalization required.
30 day only waiting period for preexisting helps offset out-of-pocket expenses. What are some of those? Let's kind of identify the Medicare Advantage, right? 20% chemotherapy, 20% radiation, that client is obligated pay. That is huge. We can offset that with this particular plan. Another important great benefit that I've seen no other company offer, the youngest partner is the primary insured.
So you have mom that's, let's say 50 dad's, that's 60. You make mom the primary insured, which drops your price point dramatically. So you make the youngest person the primary insured, and then you make the oldest person the secondary insurer. Here's the little cheat sheet slide I was talking about. Family rates, individual, and spouse rates are based off the youngest spouse. That's key. Most competitive cancer rates on the market period. This plan covers cancer In Situ a hundred percent. So what does that mean? Let's say I'm diagnosed with prostate cancer, right? It's isolated to the prostate. It hasn't metastatic has not moving around. Some companies consider that cancer. You pay a percentage of what the client bought or may not even cover at all.
Now we cover it 100%. There's no additional premium for tobacco users, believe it or not, tobacco or non-tobacco. Same rates. Children receive the same benefit as adults. As we indicated earlier, there's no limit on the number of children that are covered in a family plan or an individual with child or children plan.
So if that family has one child, or regardless how many children that each child gets that benefit. There's very little additional premium to cover children, pennies per day. No minimum premium on the EF where some companies have a minimum premium. So before we start looking at our dental, vision and hearing plus plan, folks, please, cancer insurance is so vitally important. I can't stress that enough. We all know somebody maybe directly in our family or good friend that has been affected by this disease. Good news, technology, we survive, but there are direct costs. The chemo, the radiation, the medications, right? But how about those indirect costs?
Let's say that I want to go to the Mayo Clinic. How many times do I go once a month, twice a month? You see the airfare. Who do I want with me? My number one support mechanism, my spouse, right? Lodging, meals, I don't think my mortgage company's gonna say, Mr. Pelekanos, I'm sorry I heard, we're gonna waive your next few months of mortgage. All the cost of living is going on while we're trying to battle and beat the disease. So please, if you're not talking to your clients about cancer insurance, please, please do.
Let's go ahead and transition to the dental, vision and hearing plan. So the dental vision here, plus coverage for individuals, couples, and families ages 18 through 89.
Now, unlike the cancer plan, the oldest applicant must be the policies, primary insurer. Guaranteed acceptance, no health questions, no waiting periods for preventive, basic, and major dental services, which we will call Class A, B, and C. The clients have an option to choose a $1,000 benefit per person, $1,500, $2,000, $2,500 or $3,000 maximum benefit per person per policy year.
There's a hundred dollars plan deductible per person per policy year. Which is not applicable to the Prevental Preventive Dental Services or what we're gonna call Class A. Freedom to choose any provider. Let me stop there and talk a little bit about networks and things of that nature. We have the largest network provider, coast to coast, so your client can use the Carrington network, the Aetna network, or they can go to any provider that's out of network.
Their benefit goes further by going to a negotiated network provider. Layman analogy could be, if I was going to get a hearing aid and I went to a network provider, that hearing aid that perhaps would cost me, again, I'm just pulling numbers. Let's say a thousand dollars out of the network may cost me $600 in the network.
George Pelekanos: So you can see how my dollars are going further by using a network provider. And if there is a particular doctor or provider that our clients love and they don't want to change, that provider can join our network. It's just a matter of a quick phone call. So preventive services class A deductible does not apply.
There's no waiting period naturally. Covered at a hundred percent when visiting a network provider. Services are cleanings, exams twice per year, diagnostic exams and X-rays. Your basic services, class B after deductible is applied, no waiting periods.
The plan pays and it builds up right year one 65%. The services up to the amount the client bought. Year two thereafter, 80%. Basic oral surgery, restorative services, protic services, fillings, extractions, non-surgical services, that's all covered under our Class B. Major services, the Class C, the deductible applies here. Fields not met in the basic service class.
There's no waiting periods. The plan pays first year, 20% years two, and after 50%. Non-surgical extractions, endodontics including root canals, periodontic surgery, fillings, bridges, crowns, dentures, implants, $1,500, lifetime maximum on the implants. Orthodontics is also covered. 12 month waiting period here. Plan pays years two and after 50% up to $1,500. Lifetime maximum clear aligners, seven 50 lifetime maximum. So if it is a family plan and we need braces or the clear liners, it's a nice benefit.
Vision coverage. Covered after six months, after the deductible, the plan pays 65% for the year one, 80% years two, and after pays up to $200 during two policy years for eye exams, eyeglasses, contact lenses, etc.
Hearing coverage. I've had a lot of agents tell me, George, my client just had a great experience. They saved a lot on their hearing aids and things of that nature. But this benefits covered after 12 months. After the deductible. The plan pays 80%, year two, and after pays up to $500 during any one policy year for hearing exams, hearing aids and things of that nature.
So at a glance we can say $500. Well, you know how much are hearing aids? But if they go to a network provider, we've negotiated the cost of these things lower. So the $500 is substantial.
Let's talk a little bit about our hospital indemnity again, Medicare Advantage. You have a hospital per diem, right? Days, one through five or whatever it may be. The client has to pay X amount of dollars per day in the hospital. Now, here's what's so unique about our hospital indemnity plan.
We could look at what the hospital liability is with their Medicare advantage, and that would be your option two. You could create that per diem, right? Could tailor bill the plan, offset that hospital copay. The Medicare advantage leaves as low as $10 a day in the hospital up to $700 maximum.
It pays at every benefit period, payable for each new period of care. A period of care is just like Medicare, has 60 days. So if I had this plan, I go in the hospital, I'm in there for five days. I get my indemnity plan, whatever I chose. Let's say I chose a hundred dollars a day, give my $500.
George Pelekanos: If I'm home for 60 days or more, I've recovered. I go home, 60 days or more and has to go back in. A new benefit period starts. That's option two. Option one is a lump sum that would be really applicable to maybe somebody that has a major medical type plan with a deductible upfront, which all of us do. It pays a lump sum for a hospital confinement, including observation days.
Now, we could tailor build this plan at $250 all the way up to $2,500. So if I had this plan, I go in the hospital, I'm in there one day, two days, whatever. I get $2,500, I get well, I come home. If I'm home for 60 days or more, I have to go back in, I get another $2,500. So you can see your market has just now expanded.
Not only are we talking about your Medicare Advantage clients that have a per diem exposure in the hospital. You may be talking to their children that have a major medical with a pretty sizable deductible up front. So you could choose option one or option two. Then we can look at some optional benefit writers.
We could add a daily skilled nursing facility in indemnity plan. We can add doctor's office visit indemnity. From $10 up to $60 per visit, 20 visits per calendar year. Let's say the client never goes in the hospital during that first year, second year, whatever, but they go to the doctor. If they chose a $60 benefit for doctor's office, we're gonna pay $60 regardless.
Outpatient surgical procedure, indemnity we can add that to it. So if they have any outpatient ambulatory type surgery, we could get a benefit of $250 all the way up to $1,500 per surgical procedure once per calendar year. So if I had a $1,500 surgical procedure benefit writer on my plan, and I go and have an outpatient surgery. It's $800. Guess what? I'm gonna get $1,500. That's what I bought.
Hospital ER visit or ambulance service benefit, must be medically necessary, naturally. Emergency basis pays up to $200 per visit. Service twice per calendar year. So you can see the latitude of how you could build this plan, clients' needs and their budget.
The most important optional benefit writer that I love on this plan. A lot of agents talk to their clients that have Medicare advantage and they're talking about filling in that void in the hospital, copay. You can add a lump sum cancer fixed indemnity to this plan. So if God forbid, something happens, and your client on the Medicare advantage is exposed to that 20% chemo, 20% radiation. They have this lump sum cancer writer, it's gonna pay them the benefit. The client can choose $2,500, $5,000, $10,000 per lifetime. They have the benefit there.
Outpatient rehabilitation, pays a daily amount for covered illness or injury. For these outpatient therapists, such as occupational physical speech. $50 per visit. Again, I emphasize that lump sum cancer, fixed indemnity tracking our business, that's probably the number one rider that clients are adding to their hospital montgomery.
Frequently asked questions, what is the period of care? As we indicated, 60 days, right? Is the policy guaranteed renewable? Absolutely. Are benefits paid directly? See the policy holder, yes. So when you get the policy, there will not be an ID card in it. Now, if you want an ID card, we can get into the agent portal. Your client can get into their customer portal and print one off, or we can send it to them.
The reason we do not put ID cards in there, is that if the client goes to an assigned facility, then the benefits have to be assigned to that facility versus to the client. And now clients says, "well, where's my benefit." By not having a card, because that's usually what they're gonna ask you when you go to the hospital. "What insurance do you have? What other insurance do you have?" They put it on there. If it's a assigned, we gotta pay them.
By not having a card, we will pay the customer directly. Do Premiums increase because of age or health? Absolutely not. It's an issued H policy.
Going on with our protection series. We're gonna talk a little bit about recovery care, or what we're gonna call short-term care. Quick view underwriting drug list, no underwriting phone interviews. Keep in mind, this is a short-term nursing home plan. No phone interviews, there's no cognitive impairments are gonna be asking our clients, no medical records required.
No hospital state ever required. So that kind of prevents the issue of the outpatient observation versus confinement. E-app available with personal security questions. Signature. If you have not used our enrollment tool, the online enrollment, I guarantee the experience will beat the the best you've ever had.
We have a security question signature. So after you enroll your client. You can simply ask him, Mr. Smith now to finalize this, we'll ask you a security code. You can say, pet's name, mother's maiden name, whatever it is. You put that in there, it signs all the documents. All the state specific requirements, and it's submitted.
You don't have to sit there and send it to them, and they need to sign it and send it back. One security question and it goes into processing. Renewal premiums do not increase with age, health, or any other issue like that.
Trusted household name. There's something to be said about talking to a client and using a good, strong household name like Aetna or Humana Blue Cross, right?
Again, like all of our products, you could tailor build these plans to meet your clients' needs and their budget. It's issued from ages 50 to 89. Nursing facilities are no longer where older people go. Years past, they get us the hospital, treat us, stabilize us. We fully recover, we're home. Now they get us in, they treat us, they stabilize us, they move us to different facets of care, skilled, intermediate, custodial.
I'm 59 years old. I was in a nursing facility with my condition. So it includes benefits for assisted living and bed reservation. Pays a daily benefit for confinements for skilled, intermediate and custodial or assisted living. So what's skilled care? Skilled care is 24 hour care designated to rehabilitate one to the original state of health before accident or sickness.
Intermediate, same as skilled to some degree, but the care's needed on an intermittent basis. Custodials when they're helping us with most of our ADLs or activities, daily living, right? Eating, dressing, toileting, feeding, transferring continent, things of that nature.
We don't know what levels we're gonna need, nor are we gonna dictate to the insured what levels have to come in first. It's covered across the board. Provided the policy holder cannot perform two or more of their ADL so they qualify for all the benefits. Here's the trigger, if they have problems performing two or more of the activities of daily living, and that's never an issue.
If you have problems with one, you're likely gonna have problems with the other. Right? Eating, toileting, transferring confidence, things of that nature. Two or more activities of daily living or cognitive impairment. Alzheimer's, dementia, things of that nature. The plan pays up to not $300 a day, we just increased the benefit maximum.
George Pelekanos: We filed it with all the respective states, and we've got approval across the board. I don't know if there's any outstanding pending approval, but this is now offered at $400 a day. The client can choose the covered days or what we'll call benefit periods. I think a 90 day benefit, 180 day 270 or 360 days. It has a restoration of benefit, so the benefit period is twice.
Let me use an example. If I have a 360 day benefit, and I went into a facility, and let's say I used up 300 days. Well, I came home. Home for 180 days and something new pops up or the same condition. I have to go back in. Not only do I have the 60 days left for my first benefit period, but I have another 360 days.
George Pelekanos: That's pretty dynamic. The client could choose what we call a waiting period or commonly referred to an elimination period. Zero day, meaning coverage starts from day one. 20 day deductible or a hundred days. I always recommend a zero day. Trend is that we'll probably need care that first day we go in there. You could tailor build as plan to meet your client's needs and their budget.
How do you position a plan like this? Let's say you're talking to a client. Let's say you're selling long-term care. This is not intended to replace long-term care. We all know the high cost, premium cost of long-term care today. We also know that it's very hard to qualify underwriting wise.
Here's what I've been recommending, agents are really looking and embracing, and it's just taken off for the long-term care. Go one year elimination period, one year deductible in a long-term care. That's gonna drop the price point dramatically. It's going to give the underwriter of the long term care company a reason to take the risk. We're not on the risk till a year after it's occured. Then use a short-term care to cover that first year, less a few days, right?
It's going to give lower price point. More of your cases will be issued, and then it'll get rid of that trigger. That long-term care tax qualified type plans have. So I don't want to really get off in the woods on this, but how do you position a plan like this? You need to feel comfortable about it. You need to understand it, but I think we all know we do not recover in the hospital like we did.
The daily hospital indemnity, so we filed this plan as indemnity. They can choose a hospital indemnity up to $300 a day. 20 days per period of care with a lifetime of 365 days. So if you're talking to your Medicare Advantage client and there is a per diem out of pocket with their Medicare advantage. They're looking at a plan like this. You could offset that hospital per diem liability.
They can also add optional benefits such as home healthcare, which is also issued 50 through 89. Pays for each week. The beneficiary receives three or more professional home care visits, of at least one hour each. So if a doctor writes the plan of care LPN, LVM practitioners, those are all kind of common people that are gonna come by the house. So provided the beneficiary cannot perform two or more activities daily living or has cognitive impairment, and it pays up to $1,200 per week.
Again, they could choose your benefit period, 13 weeks, 26 weeks. 52 weeks. So if you look at 52 weeks of home healthcare at $1,200 a week, and you do the math there. Look at $400, times 360 days, that is a nice benefit package that you just put together for your client. I put a few rates here together for your review, to kind of show you how affordable this is. So we can give somebody age 65 first day coverage, no waiting periods, no hospitalization, skilled intermediate custodial, and assisted living facility benefit.
Give them a hundred dollars per day for 90 days, $9,000 benefit with a restoration on it for $16 and 74 cents a month. $200 per day, $18,000 in benefits times two $31.69 cents. That's not even a tank of gas. $300 per day. $27,000 for $46 and some change per month. A hundred dollars per day for 360 days, $36,000 per benefit periods. We're looking now at twice that, right? So $72,000 total, $43 a month, $200 per day, $72,000 per benefit period times two, 84.
It's very affordable and allows you to tailor build the plan, meet your client's needs and budget. And through our quote on the go, our quote and enroll software, this is so easy to quote it to your clients.
George Pelekanos: Definition activities, daily living, we spoke about that a little bit. They must have two of the six ADLs, right? Bathing, continents, dressing, eating, toileting, transferring are all activities. So you could see if a client has problems with one, they're gonna have problems with the other. Cognitive impairment, that's another trigger. It's not in addition to the two ADLs. It's either or. Home care services, three weekly, one hour visits that will trigger plan of care on separate days. Some frequently asked questions about the recovery care. Period of care begins from the first day of confinement in a hospital or nursing facility, or assisted living facility. Due to covered injury or sickness.
It ends when the insured has been out of the hospital and does not require medical care for 60 consecutive days. Out of the nursing facility, the hospital, 60 days for nursing facility or assisted living, 180 days. The benefit period begins again. Is the plan guaranteed renewable? Absolutely.
Benefits are paid directly to the policy holder unless you assign them to a healthcare provider. Premiums do not increase with age or health and preexisting conditions. Policy pay for preexisting conditions after it has been enforced for six months. So anything new is covered immediately after the policy is issued.
If it's a preexisting condition, very logically after six months, it's also covered. Let's talk a little bit about the home healthcare plan and we'll move along. When I hear home healthcare, I'm thinking of my Medicare new book, and I look at, well, Medicare covers a hundred percent. If the doctor writes a plan of care, Medicare covers a hundred percent for RNLPNLVN. Medicare covers 80% of portable, durable equipment. Any plan on the market will pay the other 20%. So why do I need more home healthcare? Simple. We do not recover the hospital anymore. My mother and father needed home healthcare and Medicare did a nice job. An hour and a half of care didn't cost anything.
What happens for the rest of the day while our loved ones and clients are trying to recover. This plan will indemnify them, give them cash at hand so they could get the care they need while they're recovering. Because again, remember, we do not recover in the hospital like we did in years past.
George Pelekanos: This plan, like our short-term care, is a quick view underwriting drug list. When you're doing your enrollment, it's there at at your disposal. No underwriting phone and interviews. No medical records required. So when you're doing your enrollment, Milliman our partners, are running any medical information in the background, so there's not gonna be APSs or anything of that nature.
You will know by the time you're ready to submit that application if your client's gonna qualify or not. E-app, available with personal security question as we did indicated earlier,. No hospital stays are ever required, where premiums do not increase with age or health. No height and weight chart.
This is our standalone home healthcare plan. You can choose up to $1,200 per week. You can choose up to 52 weeks. Again, you can tailor bill the plan, meet your client's needs, and clients budget. Lifetime maximum equal to twice the number of covered weeks, ages 50 to 89 medically necessary home care. In other words, the doctor wrote a plan of care.
Therapy visits, covered physical speech, occupational therapy, intravenous therapy, antibiotics, wound care. There's a miter sense that people are getting care at home for today, ages 50 to 89. We spoke about the weekly benefit medically necessary, requires three practitioner visits per week on separate days.
And again, that's very practical. During the week, you're gonna have maybe a nurse, RN come by, take vital signs. You may have practitioner, you can do another service, like a bath or something. You may have a therapist. So that's very practical that there's gonna be three practitioners.
During the course of the week. Taylor build the plan $1,200 weekly maximum. Up to 52 weeks per benefit period. I choose a waiting period, zero or 20 day. The premium variance here is so nominal. I always recommend first day coverage. You can add a hospital indemnity to this plan, also up to $300 per day, lifetime maximum 365 days.
Optional benefits, you could add a lump sum cancer to this particular plan. Hospital emergency room is an ambulance. You could add to this plan. Frequently asked questions. Period of care. Get 180 days. Client gets care. They recover. They don't need care for 180 days, 180 days after same or new illness. It restores again.
Plans guaranteed. Renewable for life. We will pay the policy holder directly unless you assign it to a healthcare provider. And premiums do not increase with age. Here is something I wanted to throw your way. We will accept risk for our home healthcare plan. So if you have a client that has any of these conditions, it's acceptable. Go talk to them. We will accept a risk for Alzheimer's, Parkinson's, oxygen use, diabetes with no insulin limit. Seizure disorders, heart attack, stroke- as long as it's been over 12 months. Connective tissue disorder, dementia, use of a cane or a walker, we'll take them. Cancer free for over 12 months. Will accept it.
Rheumatoid arthritis, muscular generation, will accept them. So if you have clients that unfortunately have some of these conditions, please let them know that there is a plan that hopefully they never have to use. But if they do, it's going to give them a nice benefit to have their mind at ease while they're recovering.
Let's talk a little bit about final expenses. I don't know if everybody talks about final expense. Life insurance is so important for our seniors, right? You would think that somebody ate 65 and over if they haven't bought life insurance by now. Well think about it. If they had $10,000, do you think inflation diluted and deteriorated the value of it just like it has everything else in our world today?
What's the average cost? It could be anywhere from $8,000 to $15,000, depending on services, etc. Commend them for having it, but show them how affordable it would be to add another five to it, or whatever the client may see fit.
Through our Accendo plan. This is a dynamic, non participating non-power whole life. It's a whole life plan. So as you're enrolling your client, unfortunately there are folks that their health is not perfect and they can't answer all the questions favorably. That doesn't mean that you should lose a sale, or it doesn't mean that your client shouldn't get the benefits. If there are any questions answered yes in section C.
Your client would qualify for a modified meaning that the first two years, if God forbid there is a death due to non-accidental it's due directly to their health. The beneficiary would get all the premium back plus 10%. Upon the first day of the third year, the benefits are paid fully, whatever they chose, up to $25,000, whether it's accident or non accident, that's a great deal.
If they're able to answer all the questions favorable, the policy is issued, it pays full benefits regardless of an accident or a non-accidental death. You can see that age is 40 through 55, you give up to $50,000 in benefits.
Let's drop down a little further. 89, I'm sure we have a lot of clients and they have parents that are alive today. Wow, that client acquisition cost is zero. All you gotta do is ask. How's mom and dad? I'd like to share some options with them. So an 89 year old person can qualify for a whole life plan that's $25,000 in benefits. We have super preferred rates. So if any client had applied and qualified for any of our Medicare supplement plans through Accendo, and they applied for a life insurance plan with the Accendo within six month window. They're gonna get 10% preferred rates.
The rates are very competitive. If you were on a competitive grid, this program is probably amongst the top three, four percentile. You had another 10%, we're probably gonna be number one. We have the social security payment options. So if they wanna align their draft date on their premium to align with when they get their social security check deposited, we can do that.
Optional riders, they're available and we'll talk a little bit about them. Broad qualifying range, age range, 40-89. Flexible coverage. $2000 all the way up to $50,000 in benefits. We have the accelerated death benefit rider, which will pay 50% of the death benefit. Unless any policy loans, because there's not forfeiture features If they borrow against or something like that. They can get 50% of their death benefit if there's a terminal illness that can be certified by their doctor. We have accidental death benefit rider. So if we have that rider and there's accidental death, they'll pay a hundred percent of the base policies.
Face 'em out, you. And another nice benefit is the child or grandchild. Term insurance writer. So if grandma wants to add her grandchildren pennies, pennies per day they can get up to $10,000 of term insurance. And then at age 18 they can convert it to a whole life without improve. Ensure building. It's a nice benefit.
The plan is available coast to coast. In closing team. The mobile app quotes on the goal. If you have a smartphone, go to your app store and download quotes on the Go. Aetna, that logo right there, put it on your phone and you can quote any of these plans we spoke of. Very, very simple.
The Aetna quote and enroll easy online tool for electronic applications apply for multiple products at the same time. Kind of like the shopping cart experience. If you enroll somebody to MedSup and then you want to add the life insurance, you can add that right in there. Or whatever other productautomated underwriting with most decisions within minutes. So with our partnering with Milliman, as you're populating that application, we're running a background check. So at the end when you're ready to submit, you're either gonna get a green bar or yellow bar or a black bar.
When its green it's being issued. Yellow means that perhaps there's a medication, a dual drug like maybe Plavix. Plavix can be taken for peripheral vascular disease or something as simple as blood pressure. So there's a little more clarity that we need. Red means that there's something in the background health that the client won't get issued.
But as that trusted advisor, you could try a different company. You know, I remember back in the day we'd submit an application, wait weeks, weeks, weeks only to find out it's not issued. This is a very impressive platform just to submit your applications on.
In closing, I appreciate you of bearing with me. My team is here. We're always here to help and assist. The only thing that differentiates anything today is service. So we wanna make sure we render the utmost service to you and to your clients. So we're a phone call away should we need anything whatsoever.
So, with all that, Christy, I'm gonna hand it back over to you, see if any of the team has a question. If not, please know that we're always here and also on the aetnaseniorproducts.com website. If you haven't gone to there, please go under the training tab, there are professionally created videos for each and every one of the products we briefly discussed today. Thank you and Christy.
Christy Wilbert: Thank you George. That was very informative and I really appreciate it. For everyone else here, thank you for joining us. February was our cross-selling month, so if you missed any of the webinars for any of the other products, please go onto our training calendar on our website and you can watch them at your convenience on demand.
Next month we have carrier connection month, so we do have webinars set up with all the carriers that we work with. Make sure you're also going on the calendar and registering for any of those that you're interested in hearing. We will keep pace with these webinars upcoming for the rest of the year.
We appreciate you joining us. Also, our Medicare Connections conference, the date is Thursday, August 24th, which we have announced since January. So please mark your calendar for that. Like George said, reach out if you have any questions. We're here to help and thank you so much and enjoy the rest of your days.
George Pelekanos: Thank you.