Ritter Insurance Marketing, Craig Ritter

Bankers Life and Casualty Company and Humana Announce Strategic Alliance to Offer Medicare Advantage Plans Through Bankers’ Career Agency Force

Bankers Life and Casualty agents will be offering Humana Medicare Advantage products.  Bankers agents have offered a number of other Medicare Advantage options in recent years, including Coventry Health Care and Aetna.  It isn’t clear from the press release if this is an exclusive agreement or if this is in addition to the current Medicare Advantage plans which Bankers agents offer.

Here is the entire Press Release.

Posted by filed under 2010 MA Plans, Aetna, Coventry, Humana, Medicare Advantage, News .

  • Linda

    The answer is that Coventry is no longer in the Medicare Advantage Plan business. Bankers agents will be offering ONLY Humana Advantage Plans, where available, and offering traditional Medicare and Supplements. The cost of Advantage Plans for all companies which have remained in the business has skyrocketed. Some, such as those not age 65, receiving Medicare disability with few choices will likely consider an Advantage Plan. The cost of Advantage Plans in some areas will be almost as much as a supplement. Advantage Plans will be phased out as a result of changes in Washington, and if you ask me, the changes which have forced Medicare Advanatge insurers to increase prices is intended to make the plans instinct themselves; if not to force those who could afford nothing more than a zero premium plan to join the ranks of the many under and uninsured, thus adding more self-imposed fuel to the need to national healthcare.

  • Doug

    I am an independent agent and I do believe it is beneficial to my clients to offer choices, that fit their individual needs.
    I have sold Humana and if the product is fully explained, as with any Medicare Advantage, it can be beneficial to the client.
    As most know, Medicare Advantage is not for everyone, a Medicare Supplement has excellent benefits, not offered in a Medicare Advantage.
    I, myself, did have Humana, for one year and I never had one single problem with the plan. The only reason I changed, was due to their large increase in premium.
    I do plan to look at their plans for 2010 and if the benefits and the premiums are what I would want, then I will sell it.

    Who knows, all this may be incidental, if President Obama, get his Health Care. As he has stated he wants to end Medicare Advantage and after a few years, after passage of the bill, all health care may end. As Health companies will either stop selling health or go out of business.

  • Chad Hamilton

    Dee,
    I believe it’s you that needs to take the ethics course.

    As far as badgering goes, I think you fundementally mis-understand the purpose of this site. It’s a blog a place to go and get information and yes- voice your opinions. I don’t feel that I am badgering anyone. Perhaps my opinion differs from yours but, if you truly felt your argument was worth it’s “salt” you wouldn’t care what I said. But, I can only hope you have stopped drinking the banker’s kool-aid (or at least cut down) and continue to pursue some of the fundemental differences a broker has over a captive. “ETHICALLY” giving your client choices is in their best interest and I am sorry to say not one company provides all the best choices. Seems to me if your not giving your clients all of the options available to them it’s not ethical.

  • no name

    Chad,
    You have hit the nail on the head!I could have not said it any better then that.Lets all have a great selling season and make sure the client is the one that wins!!!

  • Chad Hamilton

    You know Anonymous it does make a difference. It is one thing to sell a product because it’s all you can sell or represent but, it’s totally something different to be able to truthfully offer your client anything. Not because you have to hit production requirements.
    If you worked captive for a company with great ratings, history of great rates, ect and they came out with something truly bad (Humana) and had this as your only option could or would you sell? Because that’s what this agreement does. They sold their supposed great captive group right down the river.
    Anybody out there heard of of great customer satisfaction from Humana? How about great customer or agent support? This is exactly what will happen to Bankers Life; it’s a deal with the devil. Fortunately for me after a year the clients that get suckered by Banker’s to peddle this crap will be lining up at my door and Banker’s agents will get a worse reputation than they already have.
    You know this could be a blessing for me.
    Unfortunately the senior will once again get screwed and agents will once again get a bad name.

    • Mike

      Chad,

      Well said. I agree completely. The only way to be of service to your clients is to be an independent.

    • Dee

      I am done with my opinion on this subject. When I took my licencing, one important factor I stand by to this day is not badgering any company. I abide by this and this site has been nothing but badgering companies. I will continue to participate in this site for information, but you will never read any negativity against other companies from me! Read your ethics or take a course in it.

  • Anonymous

    Captive not captive doesn’t really matter. I am a captive agent and, I only sell what is suitable for my clients. Brokers do the same just offer more companies. I chose a company that does not broker any of its business. I chose it because of its industry ratings, their history of rate increases and their customer satisfaction. Now if customers based their insurance decisions on these facts. Bankers Life would be out of business.

  • Chad Hamilton

    You know Dee it seems to me if you’re making less, offering your clients less than what the hell are you doing being captive????
    I can honestly say I offer any company, any price, and any plan. Commission always comes second to my clients best interest.
    I just can’t imagine what advantage working captive could possibly be?
    I don’t work for an insurance company I work for my client and my philosphy is that when I place them with the best plan for their needs (not the insurance companies needs) I will be rewarded. Yes- I make a decent living and more importantly I can sleep at night knowing out all that was available to them; they have the BEST for their needs. Not my needs or my companies needs.
    I to used to be captive and I know their games- I have been running an agency for almost 14 yrs now and to this day I can’t figure what upside captive has. Support? Ha Ha you get support as long as you hit their pre-conceived numbers.
    Great product? All Med supps plan for plan are the same. Great plans? Just wait to you see what you are going to have to pitch to your clients this year because it’s all you have to offer-Humana- what a joke. In the past 5+ yrs we have sold Med Adv. NEVER has Humana ever had an appropriate plan for any client I represent, even with their higher than avg comps.
    You know just a piece of advice talk to Craig Ritter the owner of this site and just find out some of the differences and some advantages of being on your own. They offer some of the best support, all major companies, all major products (even Humana) and all at more than fair comps. Especially before you spend your whole carrier writing insurance under a non-vested contract offering only what they want you to. Stop drinking the Kool-Aid and check out reality.

  • Chad Hamilton

    Dee has obviously been drinking way too much of the Bankers Life Kool-Aid.
    I believe it take a special person to close their eyes to what’s best for your clients and trade it for a commission check. I firmly believe in being captive you can’t be doing the best for your client. Not unless as you recommend your policy you are letting them know that “this is the best for them becasue it’s all I can sell.”
    In doing this for over 14 yrs I have never seen a company more frought with clear cut violations of CMS’s rules. My most recent story was a manager from Bankers stopped in a persective senior unannounced and told her it was because she was on the do-not call list and that when you do that sort of thing you are inviting them to stop by. Fortunately he was asked to leave or she would call the police.
    I think the only thing we can do as agents is to report them to the insurance commission when we see or now of these violations happening. I am a firm believer if I have to follow the rules everyone else should too.
    I personally think this will be a marriage made in heaven because, both companies employ deceptive marketing and selling practices. The proof is in the complaints to the insurance commission.

    • Dee

      I hear many horror stories from all over. I think you are just reluctant or ignorant to the fact. Whatever your accusing agents of is all over. There may be a few bad apples at Banker’s, but the independent agents that don’t have to answer to a company on suitability issues happen more than you think. I too get complaints from my seniors about all of you too. I am just an honest person doing my best for my clients. I have to follow strict guidelines and I am not about to jeapordize my licence for any commission. Also, remember, my commission check is a lot less than yours! I have less to lose or less of a temptation to make any financial gains off my clients. I can go to bed at night knowing I’ve done my best

  • no name

    Dee

    Sorry you feel that way . Iworked for Bankers Life for 2 years back in the mid 90’s and just do not like thier tactics..I also hear from my clients who tell me of very disturbing things that happen to them and all of these complaints are as a result of bankers agents.My facts are 100% correct and it is nice to know that you are probably the 1 exception.I do not represent 1 company I am not captive I am very happy and succsessful in reresenting 20 companies and provide a much better service by being able to do that. By the way why are you on this site aren’t you supossed to be captive?Good Luck with your Bankers Carrer…most of thier agents only last 6 months, you may be that exception.

    • Dee

      I am free to go on whatever web site I wish. If you look on the title of this site it does say that it is News and information affecting senior market insurance agents. Does not specify that you cannot comment if you are an agent working for a certain company. I’ve worked for my company for 10 years, yes, some leave within 6 months, but I have been able to survive the rough times. I don’t know what your talking about when it comes to tactics? I’ve seen many other companies use tactics that are unethical. I think it is going to be a pleasant experience working with Humana.

  • Craig

    Will Humana still contract with delegated agents or is this agreement exclusive?

    Humana does appear to be like Bankers and push the envelope. Maybe this will clean them both up or get rid of them.

    John Paplaczyk

  • G. Avery

    Humana and Bankers – birds of a feather. Like the blind leading the blind.

  • no name

    it does not surprise me how the companies that cause the most problems with senior advice seem to want to stick together and as we all know these problems will just surmount and cause the agents that do the most good….more problems. If only CMS would look into the medicare supplement problems and lies this company(and many others) causes and come down on them!!! Funny how the worst begets the worst to get even worser!!!! I have yet to hear of any Bankers agent that goes into someones home and does not try to get ALL their financial info to try to sell all their products in conjunction with the medicare products. Funny how they can do it and we cannot and no CMS restrictions.

    • Dee

      Sorry to hear you feel this way. Do you by any chance work for Met Life? No name, so you must not feel proud of who you represent. I for one work for Banker’s and I don’t know where you got your info from, but we are just like others and have to follow cms guidelines as well. I had to write a supplement and have to go back 48 hours to do their pdp. You should get the facts correct before accusing companies of such behavior.


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