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CMS Closely Monitoring Agents Marketing Medicare Advantage & Prescription Drug Plans During AEP10/24/2022
CMS released a memo last week regarding the marketing practices of TPMOs (Third Party Marketing Organizations - which includes independent insurance agents.) during the Annual Enrollment Period. They are quite concerned because they have reviewed thousands of complaints and numerous recorded phone calls and have identified issues with regard to the information that is being provided to consumers.
CMS has been conducting a "Secret Shopping" program by calling numbers associated with Medicare Advantage and PDP marketing efforts (tv and newspaper ads, internet searches and mailers) and these secret shoppers have been receiving inaccurate or misleading information regarding plans they inquired about. Additionally, some TPMOs are not complying with the new regulations put into place, and some are even pressuring consumers into purchasing plans that may not be the best fit for them or have been misrepresented.
CMS is closely monitoring all activities during the open enrollment period, and will take compliance action for activities and materials that do not meet their requirements.
To learn more... CMS recommends that TPMOs immediately implement the following:
Big things are happening with MedicareCENTER and these new enhancements are making it even easier for our agents to sell more, earn more and grow more. Let's dive right in! The call recording feature built into MedicareCENTER allows agents to compliantly record their phone calls when they're selling Medicare Advantage and Prescription Drug plans. It also allows them to access those calls any time they need them - as they'll be stored for 10 years. And there is no charge for this service. As with all the tools built into MedicareCENTER, the platform is complimentary for agents working with us. The MedicareCENTER mobile app is now available in the App Store and the Google Play store and has all of the same capabilities as the web version. This makes managing your business even easier! Download the app and login to take your business where ever you go on your phone or tablet. The next feature we're going to discuss is the personal URL which allows your clients to shop and enroll on our consumer-facing website, MedicareEnroll.com. When clients use your personalized link, they will see your contact information. They’ll be able to shop, compare and enroll in the Medicare plans you’re appointed to sell — and you’ll get the commission! The newest feature to be integrated with MedicareCENTER is our LeadCENTER which allows our agents to receive leads directly into MedicareCENTER with the flip of a switch. This new tool allows agents to receive verified leads as soon as they're online and ready to receive phone calls. Save time and produce more with MedicareCENTER this AEP and year-round. Quoting and enrollment tools built in to MedicareCENTER allow you to enroll clients in Medicare Supplement plans as well as Medicare Advantage and Prescription Drug plans. MedicareCENTER combined with LeadCENTER is the most powerful tool a Medicare agent can have at their disposal. To learn more about all the capabilities of MedicareCENTER visit our MedicareCENTER page. And to begin working with us so you can have access to all these free tools, please visit our Contracting page.
The Medicare Advantage Enrollment Period runs from January 1st - March 31st.
If your client is unhappy with their current Medicare Advantage plan, they can make a switch to another Medicare Advantage Plan (with or without drug coverage). They can also dis-enroll from their Medicare Advantage Plan and return to original Medicare. If they choose to do so, they'll be able to join a Medicare Prescription Drug Plan as well (Part D). If they enrolled in a Medicare Advantage Plan during their Initial Enrollment Period, they can change to another Medicare Advantage Plan (with or without drug coverage) or go back to Original Medicare (with or without drug coverage) within the first three months they have Medicare.
If your client switches to a different Medicare Advantage Plan or goes back to original Medicare with or without a drug plan, their new coverage will start the first day of the month after their new plan gets the request for coverage. An important detail to remember though, if your client decides to go back to original Medicare, they may not be able to buy a Medicare Supplement policy.
The best time for your client to get a Medicare Supplement policy is during their six month Medigap Open Enrollment Period. During that time they can purchase any Medicare Supplement policy sold in their state, even if they have health problems. This period starts the first month they have enrolled in Medicare Part B and they're age 65 or older. There are many details to consider, before jumping off their current coverage. However, there are options if their current plan is not a good fit.
Over 4 million Medicare beneficiaries pay income-related adjustment amounts (IRMAA) for their monthly Part B and Part D premiums due to their higher income levels. Most beneficiaries don't pay Part A premiums because they (or their spouse) worked for at least 10 years and paid Medicare taxes. However, people who do buy Part A will pay a premium of either $274 or $499 each month in 2022 depending on how long they or their spouse worked and paid Medicare taxes.
The standard monthly Part B premium for 2022 will be $170.10, which is what most Medicare beneficiaries will pay. For higher earners, that amount will range from $238.10 - $578.30, depending on their income level. Part D surcharges next year will range from $12.40 to $77.90 (that’s in addition to any Prescription Drug Plan premium they may pay as well).
These surcharges are based on your clients' tax returns from two years prior - which may not accurately reflect their current financial situation.
If your clients' income has changed significantly, they can appeal those income-related adjustment amounts by completing the Social Security Administration's Life Changing Event form AND by providing proof that their income has changed, which can include:
Talk to your clients if they've recently retired or had a change in income. They may qualify for lower Part B and Part D premiums. Learn more about Medicare costs by visiting Medicare.gov/your-medicare-costs
The Annual Enrollment Period which occurs every fall is right around the corner. October 15th kicks off the beginning of that window when your clients can make changes to their Medicare Advantage plans. So now is the time to go through our AEP checklist to ensure you're ready for the busiest time of year. Whether you're selling Medicare Advantage products, Prescription Drug Plans, Medicare Supplement products or any combination of the three, being prepared is your best asset. Below we'll go over our AEP checklist as well as review what your clients can do during the Annual Enrollment Period which ends on December 7th.
What can your clients do during AEP?
1. Change from Original Medicare to a Medicare Advantage plan (or vice versa)
2. Switch from one Medicare Advantage plan to another Medicare Advantage plan 3. Switch from a Medicare Advantage plan that doesn't have drug coverage to one that does offer drug coverage (or vice versa) 4. Join a Medicare Prescription Drug Plan (PDP) 5. Switch from one Prescription Drug Plan (PDP) to another PDP 6. Drop Medicare Prescription Drug coverage completely There are many scenarios that can play out during AEP and it's in your best interest to review your clients' policies with them to ensure they have appropriate coverage for the coming year. Many of your clients may want to review their Medicare Supplement plans during this time as well, and it's the perfect time to do so. AEP Checklist
1. Contracting
If you need to finish any contracting you may have started, complete it and review any carriers you wish to add. Carriers have blackout dates where you can no longer move your contract. You can review our carrier black out dates on our AEP page. 2. AHIP Training Be sure to complete your AHIP training. Many carriers offer discounts, but you must access the training through the carriers' agent websites to receive that discount. 3. Product Training Login to agent sites and complete all product training. You'll get notified by the carrier when you’re eligible to being selling. Watch your Inbox carefully. 4. MedicareCENTER Login to MedicareCENTER and get familiar with all the new tools available. Upload and update your clients in the CRM and review the training and best practices guides. 5. Electronic Applications Familiarize yourself with electronic applications now (before the rush). This will make them much easier to complete. You can download carrier e-App training guides from our Electronics App page. 6. Order Supplies & Materials Order any supplies you may need from your carriers directly, and be sure to request our complimentary*, branded marketing materials to help you promote yourself.
Make sure you're ready to go and have everything you need to make this your most successful AEP yet. We're here to help you succeed and are always available to assist you with your AEP strategy.
*Must be a contracted producer to qualify for our complimentary marketing materials. |
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