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Sound Advice: February 21, 2024

800-000-0000

That’s 800-000-0000

Again, 800-000-0000

That’s the typical closing for the hard sell commercials that are increasingly polluting media airwaves.  These are the commercials for products or services you rarely need or most definitely should avoid.

A substantial number are on behalf of groups of attorneys who would have you believe that you and many others may be entitled to cash compensation for having used or being exposed to some evil item or substance some time in the last few decades.  The pitch always includes a comment that there’s no cost to you unless there is a settlement in your favor.

Much of this is rubbish, but when the appeal suggests that there’s nothing to lose, why not take a shot.  And, as you would expect, “advisors” are standing by 24/7 to take your call and help get the process in motion.  What kind of advisor would be available at 3 a.m.?

One version of this approach pops up every year between October 15th and December 7th.  That’s the annual open enrollment period for Medicare.  Once this is under way, insurance companies pushing Medicare Advantage plans (a.k.a., Plan C) go all out to convince folks of the golden opportunity to get aboard with this “service.” Their pitch is all about their huge networks of physicians, the comprehensiveness of their coverage, and the cost savings these plans provide.

These plans are more appropriately called Medicare Disadvantage plans if for no other reason than the reality that the very best specialists are not included in their networks.  What’s more, you can bet that a number of the services you might otherwise expect from them would not be included.  Here’s an excellent example of the importance of reading the fine print.  It doesn’t read well here.

Let’s not overlook the bombardment of drug commercials.  Drug companies typically make huge investments in the development of new prescription drugs.  Once the drugs are approved, you can expect an onslaught of media time featuring smiling people having a good time.  You can be one of them, too, if you don’t mind ignoring the possible side effects, which are usually noted in fine print or rapid announcements.  Not infrequently, the side effects are pretty bad.

Then, too, there are commercials about pseudo drugs that have not been passed by the FDA.  One that is regularly featured claims to improve memory functions.  For these, there are usually testimonials by users (or testimonialists) who offer hedged praise about their benefits.

Caveat emptor!

 

N. Russell Wayne

Sound Asset Management Inc.

Weston, CT  06883

 

203-895-8877

www.soundasset.blogspot.com

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