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Term coming Jan 15, Med-Sup Available Now

You read that right.  Term support is coming January 15, 2021 and Medicare Supplement is available now.  The support is experimental for right now.  What does “experimental” mean you might be asking.  Well, it means something is in active testing, but ready for you to use, as long as you keep in mind that it’s in active testing.

Before we explain what that means for each type, if you need a particular product implemented, please let us know (please make sure to indicate the carrier and the product name so we implement what you need):

Experimental Term:

You’ll be able to:

  • Quote
  • Underwrite medications and conditions
  • Get your plan info

What’s the catch:

Term has taken this long to implement because we’ve been waiting for the internal table rating guides.  The carriers we’ve been working with have been helping us, but, due to COVID and some other factors, have been slow in getting us the guides we need.  Instead of waiting longer, we decided it’s time to release it so that way there could at least be an element of quoting.  But, we have more than just quoting.

What you need to know:

Many carriers use a table rating guide where conditions receive points.  Multiple innocuous conditions (Anxiety, Mild Asthma, etc) may cause someone to be bumped a table rating.  This may cause someone to be excluded from coverage if they already were on the line.  So, someone who is already a Table 4 with 6 conditions, may not qualify at all even if BPP says that they don’t have any knockout conditions.  Keep this in mind.  Best Plan Pro will warn you of knockout medications and conditions, advanced restrictions to medications and conditions (maybe you can’t have LISINOPRIL and DIABETES and be over a certain BMI), non-medical underwriting like state restrictions, nicotine processing, and quoting restrictions.

Experimental MedSup:

You’ll be able to:

  • Quote
  • Underwrite medications and conditions
  • Get your plan info

What’s the catch:

We’ve implemented the latest pricing we’ve been given for the carriers we’ve added however we’re still putting a more regular rate update procedure in place with carriers.

What you need to know:

The underwriting will be accurate, but the pricing may be outdated at some point.  At minimum, Best Plan Pro will help you place your client based on the underwriting of each product.

How to use:

Go to the Set Available Products menu (in the Settings menu, under Producer Settings) and select what products you want to quote.

You can run FEX and MedSup quotes at the same time.  If you’re trying to quote Med Sup, make sure to enter the client’s Zip Code and State.  The Face Amount and Max Monthly Budget are optional.  You can, however include them (including using multiple face amounts) if you want to have a quote for Final Expense as well as Medicare Supplement.  Once the analysis is complete, you’ll see Final Expense and Medicare Supplement options under the results.  You’ll then be able to toggle through those results to find what works best for your client.

For Term, it’ll be the same thing as Med Sup and Final Expense.

Our goal is for you to enter your client’s information one time and have analyses for FEX, MedSup, and Term all within 60 seconds.

Medicare Supplement Demo Video

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