Since October, thousands of Americans around the country have signed up for Medicare Advantage Plans during the annual election period (AEP), and we still have a few weeks to go.
If you’re one of the agents working furiously to get to everyone before December 7th, then you can appreciate just how busy this time of year can be.
This is also the perfect time to be talking to your clients about short-term care (STC).
Since it’s a health product it can be included in your scope of appointment, and it’s something that all of your clients can use. If you’re not talking about STC, you’re not only leaving money on the table, but you are leaving your clients exposed to a risk they don’t need to take.
Have you ever heard a client say, “The hospital kept me too long”?
In the world of DRG’s it’s unlikely that your clients were 100% recuperated by the time they left the hospital.
That hip replacement? Eight weeks to recover.
Knee replacement? Six weeks.
If your clients live alone, there is a high probability that they will be discharged to nursing homes to complete their recovery.
At the very least, they are going to require some help at home.
Even if there are two people in the home, how many 65-year-old women can lift their 65-year-old husbands?
Unfortunately, many people forgo the care they need simply because they can’t afford it, and a family member is forced to step in to provide as much help as possible.
There are 44.4 million informal (or family) caregivers in America today – 21% of our population. Most of those caregivers are wives and daughters who are trying to simultaneously raise children and work full time while providing care for an aging parent.
The value of this care is estimated to be $257 billion annually!
This tells us that there is a great need for STC insurance. Unfortunately, most consumers aren’t even aware this type of insurance exists.
You clients rely on you to keep them informed of products that will help them. They’ve trusted you to cover their hospital and doctor bills with an MA or MedSupp – but who is going to pay the bill when your client just needs help recuperating?
Medicare will pay for up to 100 days in a Medicare-approved facility but there are some hoops to jump through first.