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The Medicare Advantage buzz has now died down and AEP has ended, but you can continue to write Medicare Supplement policies. In fact you can do so year round. The benefits of placing your clients in a Med Supp plan are numerous, and the most popular Plan F is quickly being replaced with the Plan G. Overall, Medicare Supplement plans limit out-of-pocket expenses incurred by policy holders. The Plan F has no deductible, the Plan G currently has a $147 Part B deductible for 2015, and this will jump slightly to $166 in 2016. The yearly savings your clients will benefit from by enrolling in a Plan G will offset the Part B deductible in most cases. Medicare Supplement plans offer the freedom to select any doctor anywhere, and plans can NEVER be cancelled or changed by anyone other than the policy holder. Rates may change annually, but our Medicare & Senior Solutions Sales Managers are here to help you navigate those rate changes, and provide you with the best solution for your clients. Deciding which carrier and which plan is the right choice for your client, is made easier with the help of our Resource for Rates online quote tool. If you're not set up, we can get you enrolled in just minutes.  Writing paper applications is still possible; however, submitting e-Apps with our carriers is easier than ever. If you need assistance with the electronic process, we're here to help. Each carrier has their own version online via their producer portal. The Underwriting process is much quicker and applications submitted are typically approved within a couple of days. Logging into the producer portal to check the status of an e-App is especially helpful.
Enhanced renewal commissions is a benefit to you, the advisor, when writing Medicare Supplement policies. Your commissions continue to roll in each year and are carrier-specific. Again, we can help you understand your commission schedule and give you insight as to what your earnings will be. By Carolyn Portanova
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From October 15th - December 7th, you have the ability to increase your income dramatically. Many agents write 1/3 - 1/2 of their annual Medicare Supplement business in the 4th quarter every year. Do you? Why does this happen? Additional money for the holidays? More likely it is because of the constant Medicare Advantage Annual Election period buzz that begins in September and continues unabated until December. Tens of millions of direct mail pieces, TV, radio and print ads all help stir up the crowds. Agents who write Medicare Supplement can capitalize on all of this free marketing by reaching out to their clients and prospects. This is an opportune time for agents to reassess their current clients' Medicare Supplement plans to be sure they still have the best plan for their needs, AND, to assist prospects with their needs. Medicare Supplement Agent Benefits    Medicare Supplement Client Benefits Medicare Supplement plans can NEVER be cancelled or changed by anyone other than the policy holder, although rates can change annually. Medicare Supplement plans offer the freedom to select any doctor anywhere. The insurance company does not decide which doctors your clients must use. Medicare Supplement plans limit the out-of-pocket expenses incurred by policy holders.
Medicare Advantage plans require policy holders to enroll each year and they receive that year's benefits, providers and cost. Your Role as an Advisor Our Senior Solutions Managers can offer you guidance with which plans are best for your clients' needs. They can assist you with using our quote tool to determine the best plan, depending on your clients' location, health and budget.
Our Senior Solutions Managers    Our Proprietary Quote Tool for Senior Health Coverage To learn more about this FREE tool that provides current information and rates that are updated daily for quotes, NAIC carrier information, carrier-specific medical impairment guides for 90+ different medical conditions, and each carrier's state-specific Medicare Supplement applications, please click below. This tool is available 24/7 with an internet connection, and is complimentary to our contracted agents. However, we do offer a FREE trial access period. By Carolyn Portanova and Sam Corey, Jr.
According to the National Association of Insurance Carriers, 58% of Medigap beneficiaries were women in 2012, with 40% of enrollees earning lower than $30,000 per year. To read the full report, click here.   Annual Enrollment Period (AEP) is right around the corner, and you know what that means. Your clients who are enrolled in a Medicare Advantage plan now have two options:
· They can enroll in a new Medicare Advantage plan OR · They can return to their original Medicare and purchase a Medicare Supplement plan We are here to assist you by helping you make the best decision for your clients’ needs. Whether they enroll in a new Medicare Advantage plan ore re-enroll with their current carrier (and we have a brand, new carrier here in North Carolina, Gateway Health, that is providing Dual Eligible and Special Needs plans) or their needs are best met with a new Medicare Supplement plan (Mutual of Omaha is a carrier that we hold a top 10 contract with, they have outstanding Plan F and G rates and have been offering Medicare Supplements since 1966), we are here to offer our support. Our Medicare Supplement carriers (Mutual of Omaha, Cigna, Aetna, Medico – to name a few) all have online applications that allow you to enroll your clients quickly, efficiently and anywhere you have access to an internet connection. The majority of these e-Apps are completed and turned around within three days. There is no stamp and a much shorter wait time for approval. Our Senior Solutions Marketing Managers can offer you guidance with which plans are best for your clients' geographic location, depending upon which state your clients reside in. They can help you with quotes using our online rate tool, and give you answers to questions you may have about different carriers and the benefits of the plans that are offered. October 15th is right around the corner. Now is the time to get in touch with our Marketers, get contracted with us if need be, and get your questions answered. AEP (October 15th – December 7th) is a busy time of year, as we all know, and we look forward to making it a very productive time of year for you and your practice. By Carolyn Portanova |
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