A variable annuity (VA’s) is an insurance contract that relies on investment accounts (Mutual Funds) to determine performance of the money in the annuity. Depending on the product, there can be a number of different mutual funds within the annuity for the investor to choose from. There are usually more than enough accounts to choose from in order to have a diversified investment allocation. The VA’s have a number of riders that can also be added. I have provided a quick summary on VA products and some of the riders that may be added to them. Read more
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Medigap plans in Connecticut (Also called Medicare Supplement) confuse many people but it is actually very simple to understand once you understand the key points. This post is intended to provide a general overview of “Medigap” to help consumers make an educated decision when choosing one. We will start with the basics of the things you need to know about Medigap plans and then touch on the basics.
HOW A MEDIGAP PLAN WORKS:
The first thing to understand is how a Medigap plan works. A medigap plan works as a secondary coverage to Medicare A and B (also called original Medicare). Original Medicare parts A and B provide coverage for Medical Services. In general, original Medicare coverage 80% of medical costs. The Medicare supplement plan covers what original Medicare does not. As a result, medical providers will bill orginal Medicare and the cost share (patient responsibility) is then sent over to the Medigap company.
WHAT MEDIGAP COVERS:
Medigap plans will only provide coverage on benefits that original Medicare covers to some extent. If Medicare does not provide any coverage for a procedure, the Medigap plan also will not provide coverage (There are some exceptions to this). There are a number of different plan in CT with plans A – M offered. Each lettered plan covers a different percentage of the costs that original Medicare does not cover. Some plans cover everything that Medicare doesn’t such as Plan F. Others only cover 75% such as plan L.
Supplements in the state of Connecticut are standardized which makes life much easier when choosing a plan. This means that they plans can not vary in the benefits they provide. For example, if you purchase a Plan F supplement, the coverage will be the same regardless of the company you choose. The only difference will be in the monthly cost of the plan. Some companies will add additional, value added benefits such as Silver Sneakers or other programs but the mandatory coverage must be the same for every plan.
Medicare Supplements do not cover drugs. If you want drug coverage, you must purchase it separately. (Called a Medicare Part D plan or “PDP plan)
WHO CAN BUY A MEDIGAP PLAN:
Medigap plans are guaranteed issue in CT. This means that you can enroll in any available plan regardless of your health or age. The only requirement is that you are on Medicare A and B. If you are willing to pay the monthly premium, you can have a plan. For people age 65 and older, the price is the same for everyone regardless of how old you are. (Example: If the AARP plan N costs $152.00 a month for a 65 year old, it costs the same for an 85 year old) People on Medicare under the age of 65 are also eligible for a supplement but they can have fewer choices if they are under the age of 50.
POPULAR PLANS AND COMPANIES:
Medigap comes down to plan type and price. If one company offers a plan L Medigap for less than the other companies, you should go with the one offering it for the least. Benefits are standardized so they can not be cutting out any benefits. They just have the best price. Having said that, the more popular plans over the last 24 months are Plan F, Plan N , Plan L and High Deductible Plan F. United AARP and Anthem BCBS currently have the lowest costs in CT which makes it easy to find the lowest cost company once you determine which supplement you want.
HOW CROWE & ASSOCIATES CAN HELP YOU:
Crowe and Associates is an independent agency based in Brookfield CT. The agency is A rated with the BBB and is contracted to sell just about every Medigap plan in CT including, AARP , Anthem BCBS, Humana, Mutual of Omaha, Aflac, etc…. The companies pay me commission directly and I charge my clients nothing. I sit down with clients (in person, over the phone or by email) and help them determine which plan is going to work best for them. I also let them know if a new company comes out with the same Medigap they have at a lower price. I can help you understand Medigap and help you determine which plan is best for your specific situation. Feel Free to call my office at 203-796-5403 or email me at Edward@Croweandassociates.com
Variable Annuity Connecticut
Here is some information about Variable Annuity Connecticut:
A variable annuity (VA’s) is an insurance contract that relies on investment accounts (Mutual Funds) to determine performance of the money in the annuity. Depending on the product, there can be a number of different mutual funds within the annuity for the investor to choose from. There are usually more than enough accounts to choose from in order to have a diversified investment allocation. The VA’s have a number of riders that can also be added. I have provided a quick summary on VA products and some of the riders that may be added to them. Read more
Crowe and Associates holds an FMO/IMO contract with Vantis life. We offer Agent and GA level contracting to brokers and agents. Vantis has many products but the most popular contract currently is the Guaranteed Golden Final Expense product. 100% guaranteed issue with incredible rates. Contracting paperwork can be obtained on this blog post. Street level compensation is 40% with a 12 month advance and GA level is 50% with a 6 month advance.
Please Note: Vantis Life will issue an agent number until the first case has been submitted. Once contracting is completed, you must submit a case to be appointed.
If you have questions, please call us at 203-796-5403 or email Edward Crowe at Edward@Croweandassociates.com
VANTIS LIFE SALES CONTRACTING CLICK HERE
LOOKING FOR VANTIS LIFE RATES? CLICK HERE
Crowe and Associates holds an FMO/IMO contract with Vantis life. We offer Agent and GA level contracting to brokers and agents. Vantis has many products but the most popular contract currently is the Guaranteed Golden Final Expense product. 100% guaranteed issue with incredible rates. Contracting paperwork can be obtained on this blog post. Street level compensation is 40% with a 12 month advance and GA level is 50% with a 6 month advance.
**Please Note: Vantis will not issue an agent writing number until the first case is placed. One contracting paperwork is submitted you need to submit a case to be officially appointed.
If you have questions, please call us at 203-796-5403 or email Edward Crowe at Edward@Croweandassociates.com LINKS FOR CONTRACTING BELOW
CLICK HERE FOR CONTRACTING
Crowe and Associates holds an FMO contract with Wellcare which allows us to offer individual and agency contracts. Compensation is paid directly from the company to the broker/agency. Wellcare offers plans in a number of states including CT, NJ, NY, FL, TX,GA,IL, HI, OH, LA, KY and MO. This contract includes a $50 per application lead incentive.
Lead Program- To help our brokers sell, Crowe and Associates will pay a $50.00 lead incentive per application sold. The lead incentive will be paid monthly by Crowe and Associates. All commissions will be paid directly from Wellcare. Only the lead incentive will be paid from Crowe and associates on a monthly basis. There is no cap to the incentive. Any charge backs will be held out of future payments. The $50.00 lead incentive will be paid on the initial application only. It will not be paid on the renewal.
UPDATE: WE NOW OFFER FREE MEDICARE LEADS: CLICK FOR FREE LEAD PROGRAM
Do you already sell Wellcare?- Want to move over to Crowe and Associates? Simply send us an email with your name and agent writing number requesting to transferred to us.
Need to be appointed? Completed contracts can be faxed to Crowe and Associates at 203-567-6235 or emailed to Edward@Croweandassociates.com Send all contracts with a copy of your Insurance license, AHIP Certificate and E and O certificate. The contract is in the link below. If you are already appointed with Wellcare, simply send us an email stating you want to work through Crowe and Associates. (please include full name and writing number)
CLICK HERE FOR WELLCARE CONTRACTING FORMS
Questions: Call our office at 203-796-5403
Crowe and Associates holds an FMO contract with Wellcare which allows us to offer individual and agency contracts. Compensation is paid directly from the company to the broker/agency. Wellcare offers plans in a number of states including CT, NJ, NY, FL, TX,GA,IL, HI, OH, LA, KY and MO. This contract includes a $50 per application lead incentive.
Lead Program- To help our brokers sell, Crowe and Associates will pay a $50.00 lead incentive per application sold. The lead incentive will be paid monthly by Crowe and Associates. All commissions will be paid directly from Wellcare. Only the lead incentive will be paid from Crowe and associates on a monthly basis. There is no cap to the incentive. Any charge backs will be held out of future payments. The $50.00 lead incentive will be paid on the initial application only. It will not be paid on the renewal.
Completed contracts can be faxed to Crowe and Associates at 203-567-6235 or emailed to Edward@Croweandassociates.com Send all contracts with a copy of your Insurance license, AHIP Certificate and E and O certificate. The contract is in the link below. If you are already appointed with Wellcare, simply send us an email stating you want to work through Crowe and Associates. (please include full name and writing number)
CLICK HERE FOR WELLCARE CONTRACTING FORMS
Questions: Call our office at 203-796-5403
Online Medicare Lead Program (Exclusive and Shared Leads)
Crowe & Associates offers an online Medicare lead program to our brokers. The program has two types of leads- Exclusive leads and shared leads. The Exclusive leads are sent to only one broker and are never redistributed. The shared leads are sent to multiple brokers at the same time. The lead costs for street level (full compensation paid directly from the insurance company) contracted brokers are $15.00 for exclusive leads and $5.00 for shared leads. The lead cost for our in-house lead program brokers (reduced compensation paid from Crowe & Associates) are $6.00 for exclusive leads and $1.00 for shared leads.
This program is no longer offered. Please view the link at the bottom of the page for new lead program information.
It is required that street or in house brokers hold their Medicare contracts through Crowe & Associates in order to utilize the reduced cost leads. Call Ed Crowe at 203-796-5403 or by email at Edward@croweandassociates.com to talk about contracting. Click below to sign up for the program.
CLICK HERE FOR CROWE AND ASSOCIATES LEAD PROGRAM INFORMATION
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