Why are Medicare Advantage Insurance companies so anxious for customers?

[debodun]

Old people start having long-term medical issues and will likely need extensive and expensive medical care, so why are these companies saturating the media, emails and phones trying to get new clients? I thought it was going to be over on December 7th, but I still see TV ads and I did receive a phone all today (ignored, of course) about changing my Medicare plan.

 

[Pepper]

They are anxious for customers because there is a profit for them. If you have medicaid as well as medicare you can switch any time of year, or if you are just entering medicare.

 

[Geezerette]

Medicare plans closed on Dec 7. Other non-Medicare commercial insurance, where people are buying it on their own or their employer is offering different options is open for starting or changing enrollment until Dec 15.

 

[Liberty]

This article explains it pretty well:

https://www.dailykos.com/stories/2020/9/14/1977397/-Beyond-the-Medicare-Advantage-Scam

 

[tbeltrans]

It is a real shame that somebody such as Joe Namath is reduced to hawking insurance plans on TV. What happened? He was a big star in the sports world as I seem to recall. I don't watch commercial TV, so I don't see the ads or have the complaints about TV that I often see in these forums. The article that Liberty linked mentions him as hawking this stuff and it just seems a shame that the guy has sunk so low, rather than using his sports status to inspire people in more positive ways.

Tony

 

[Pepper]

It is always weird to see Joe Namath hawking this, especially when he says Free Meals and Free Rides to your doctor. Sounds so disingenuous.

 

[Jeni]

I always look at how much fine print there is in those commercials. i often wonder how many call in not realizing they are specifically targeting those who qualify for both medicaid and medicare.......but want all to call in for the sales pitch to those who are not on BOTH programs.

 

[Knight]

The article says beyond the scam.

Not for us zero co pay for PCP & Specialists. Meds total out of pocket 2020 $24.00 for me $96.00 for my wife.

Toss in $120.00 every 4 months to buy items we can use like these
Order Summary:
Item ID Description Qty
767829387 Equate Multi Level Orbit Toothbrush, Soft - 4 Count 1
202745137 Equate Options Incontinence Pads for Women, Maximum, Long, 72 ct 1
10416120 Vicks VapoRub Cough Suppressant Chest Rub Ointment, Original, 3.53 oz 1
791482107 (2 pack) Equate Maximum Strength Sensitive Extra Whitening Toothpaste with Fluoride, 4 oz 2
20629924 Equate Allergy Relief Antihistamine Tablets, 25 mg, 100 Ct, 2 Pk 1


Order Summary:
Item ID Description Qty
19758123 Spring Valley Vitamin D3 Softgels, 5000 IU, 250 Count 1
11994885 Systane Ultra Lubricant Eye Drops for Dry Eye Symptoms, 10mL 2
791482107 (2 pack) Equate Maximum Strength Sensitive Extra Whitening Toothpaste with Fluoride, 4 oz 2
12444552 Genuine Bayer Aspirin Pain Reliever/Fever Reducer Coated Tablets, 325 mg, 200 ct 1

And for us it's a pretty sweet deal.

 

[Victor]

It is a real shame that somebody such as Joe Namath is reduced to hawking insurance plans on TV. What happened? He was a big star in the sports world as I seem to recall. I don't watch commercial TV, so I don't see the ads or have the complaints about TV that I often see in these forums. The article that Liberty linked mentions him as hawking this stuff and it just seems a shame that the guy has sunk so low, rather than using his sports status to inspire people in more positive ways.

Tony

commercials are lucrative. He looks silly waving his hands around, as if he is an expert.

 

[tbeltrans]

commercials are lucrative. He looks silly waving his hands around, as if he is an expert.

I believe commercials are lucrative, but don't these sports people, the ones whose names become well known, make ridiculous sums of money during their careers from both their team contracts and whatever sports gear they associate their name with? Why, after making all that money, would he have to stoop so low as to hawk product on TV? Isn't there any sense of shame in that among his peers? Why not retire quietly and with dignity instead?

Well, I am sure I am out of touch and my questions completely naïve, however that is what crosses my mind when I read this sort of information.

Tony

 

[Nosy Bee-54]

I believe commercials are lucrative, but don't these sports people, the ones whose names become well known, make ridiculous sums of money during their careers from both their team contracts and whatever sports gear they associate their name with? Why, after making all that money, would he have to stoop so low as to hawk product on TV? Isn't there any sense of shame in that among his peers? Why not retire quietly and with dignity instead?

Well, I am sure I am out of touch and my questions completely naïve, however that is what crosses my mind when I read this sort of information.

Tony

Most people never feel they have enough money. The greed of capitalism.

 

[tbeltrans]

Most people never feel they have enough money. The greed of capitalism.

That is a very interesting point.

Our retirement was based on when we realized we had enough saved. I just assumed we should work until age 65. However, when we found out we could go to a financial advisor at Fidelity (who does not work on commissions), she had us make a detailed budget. She then ran what is called a "Monte Carlo" simulation whose intention is to determine if you are likely to outlive your money (i.e. whether you have saved enough for retirement). This simulation, at least the way it worked at Fidelity, runs around 300 variations of stock market simulation from before the Depression of 1929 through your expected life span based on a guess by how long your family typically lives. These variations range from the stock market completely crashing to it doing very well, so you can see worst of conditions and best of conditions. We did fine even in worst conditions, so she asked why we were still working.

Anyway, our decision to retire was based on our lifestyle and the realization that there were things we wanted to accomplish while we still had reasonable health. I retired at the age of 60 and my wife was 62. We have never regretted that decision, though most of the people around my age that I worked with are still working full time. How much is enough? That answer will be different for each person asking it.

Tony

 

[garyt1957]

It is a real shame that somebody such as Joe Namath is reduced to hawking insurance plans on TV. What happened? He was a big star in the sports world as I seem to recall. I don't watch commercial TV, so I don't see the ads or have the complaints about TV that I often see in these forums. The article that Liberty linked mentions him as hawking this stuff and it just seems a shame that the guy has sunk so low, rather than using his sports status to inspire people in more positive ways.

Tony

It's easy money, who can't use a few extra bucks? He played before the really big contracts.

 

[tbeltrans]

It's easy money, who can't use a few extra bucks? He played before the really big contracts.

I would be ashamed to be hawking stuff in an infomercial on TV or anywhere else. I guess we just have different views on these things.

Tony

 

[garyt1957]

I would be ashamed to be hawking stuff in an infomercial on TV or anywhere else. I guess we just have different views on these things.

Tony

I guess, I see nothing wrong with it. What puzzles me is why the companies think a celebrity will somehow convince me to use their product. Tom Selleck does those reverse mortgage ads and he's still working. Like I said, it's easy money. Years ago, and maybe still today, mega stars who didn't want to stoop so low would do commercials strictly in Japan. They'd make big bucks and no one was the wiser. You can see some of these commercials on youtube. People like Sylvester Stallone and Striesand at the height of their fame did them.

 

[garyt1957]

Old people start having long-term medical issues and will likely need extensive and expensive medical care, so why are these companies saturating the media, emails and phones trying to get new clients?

The more people they sign up the more they spread out the risk. Believe it or not, more old people are healthy than you'd think. My Dad is 96 and has no real ailments. He takes two pills and has been healthy all his life. He helps cancel out the people who aren't so lucky.

 

[tbeltrans]

I guess, I see nothing wrong with it. What puzzles me is why the companies think a celebrity will somehow convince me to use their product. Tom Selleck does those reverse mortgage ads and he's still working. Like I said, it's easy money. Years ago, and maybe still today, mega stars who didn't want to stoop so low would do commercials strictly in Japan. They'd make big bucks and no one was the wiser. You can see some of these commercials on youtube. People like Sylvester Stallone and Striesand at the height of their fame did them.

In retirement, I have taken short term software engineering contracts in the medical electronics field and these pay quite well (probably not as much as some sports personality hawking insurance though). I personally prefer to have some dignity in what I do. As I mentioned, we just have very different views on some of these things. Nothing wrong with that.

Tony