We have some exciting from GTL to share with you. Many of you have chosen to add them to your portfolio, and for those of you who have, the plan is changing.
GTL Advantage Plus Elite Available in NC
For those of you who have not added GTL or who have not looked at their hospital indemnity plans now may be the time. They have now approved a hospital indemnity plan called the Advantage Plus Elite. This updated plan has been available in some other states, but today is the day that they have approved it for North Carolina.
What makes the GTL Advantage Plus Elite plan "Elite"?
We are very excited here at Tidewater Management Group, and as an agent, you should be excited because of the enhancements that have been made that truly make this plan an Elite plan.
You can enhance the plans that are already in place under the new Elite product, which is already on their electronic platform.
Conversations create opportunities, and opportunities create sales. This is a great product that I think should be added to your portfolio if it has not already been done so.
Ronnie James // Regional Sales Director
As an agent, if you log into their electronic platform, you will see the Elite Plan. It will now allow you to increase your Advantage Plus business by a minimum of $50 per day for hospital confinement.
If you already have a plan in place that pays around $250 a day per day in the hospital, you can enhance it by $50 to give them that $300. You now have the capabilities with the Elite plan to customize the number of days. It's not as rigid as in the past where you had to choose a one day, a three day, a six day or ten day.
You can now virtually run the gamut days 1-10 and choose the day that best fits along with their Medicare Advantage plan. It is now easier to customize.
New plan, new reduced rates
With the new plan, they have reduced the rates. This is fantastic because the rates are going to be even better on the hospital confinement benefits. The ambulance copayments are also reduced.
For those individuals who are concerned about ambulance copayments, I ran one today that was a $300 ambulance co payment, and it was only $3 a month to add that to the plan.
GTL has also reduced the rate for outpatient surgery copayments. In the past, we have not been a fan of the outpatient surgery benefit on the GTL Advantage pPlus. It didn't feel that the premium really justified itself, but that has changed.
The rates are phenomenal for outpatient surgery. It may be something worth going out and talking to your existing clients about. If you wanted to add a $50 minimum benefit to the daily benefit, you can add the outpatient surgery rider. They have also added an outpatient therapy writer to this plan.
Now it will pay $50 per day for outpatient therapy. If your clients concerned about occupational speech physical therapy, they can now cover for $50 a day, for up to 30 days to help offset those costs.
There have previously been some complaints from members who say that the outpatient physical therapy copayments are just too high on some of these plans when they're paying $30 to $40 for physical therapy. They're being called to go two, three, or four times a week, and some of them simply quit going to therapy just because the out of pocket expense are too high.
Now we're able to cover that. The $50 benefit for 30 days is about $6 a month, so it makes it very affordable for someone to protect against the cost of physical therapy as well.
You can order your supplies today. They are all ready for us to order here in North Carolina. You can go online, you can order supplies, and/or you can call GTL directly. They are fantastic with agent services; you can call their 800 number and they'll get your supplies very quickly.
GTL no longer charges an application fee
Another improvement with the new enhancement is that GTL no longer charges an application fee. It will make it easier for you when you don't have to explain why there is an application fee to your customer. Remember you can go out and you can enhance people's plans that are already in place.
There's also no minimum monthly premium on an increase benefit. If you want to increase someone's hospital confinement benefit by $50 a day for, say, six days, that increase may only be about $6 a month.
Under the new plan, you can enhance it, and that $6 a month can be bank drafted with no application fee. Even if you're not the agent on their original policy, you will get paid first year commissions on the increase. Use this as a way to open doors for yourself.
Sell GTL year round!
GTL's Advantage Plus plan is a product that can be sold year round. Now is a good time to meet with individuals that you work with during the annual enrollment period. Because it's such a busy time of the year, many agents will set up a follow up appointment to meet with their new clients during the months of January and February.
GTL's new Fill the Gaps tool and how it can help provide instant hospital indemnity coverage recommendations for your clients!
To summarize, you now have a brand new, exciting product to talk to those individuals about. When you come across that individual who has an Advantage Plus product already in place, it will give you the ability to go in and say, "oh, do you have the old plan, or do you have the new and improved plan?" Of course our customers want the new and improved plan, and it creates a conversation.
Conversations create opportunities, and opportunities create sales. This is a great product that I think should be added to your portfolio if it has not already been done so.
If you already enjoy working with GTL and selling the Hospital Indemnity products, this plan will only make you happier. This is a fantastic product. I can't express how excited I am. If you have any questions, give us a call at the office at 888-622-9122. We'd love the opportunity to talk with you and as always, wish you the best.