The best way to market Medicare Advantage plans is to utilize marketing materials, including:
- Postcards
- Flyers
- Desk displays
- Social media posts
- Billboards
- Radio ads
- Emails
- Presentations
What companies offer Medicare Advantage plans?
What Companies Offer Medicare Advantage Plans Currently
- Aetna Medicare Advantage Plans. ...
- Benefits of Aetna Medicare Advantage Plans. ...
- Blue Cross and Blue Shield Medicare Advantage Plans. ...
- Benefits of Blue Medicare Advantage Plans. ...
- Cigna Medicare Advantage Plans. ...
- Benefits of Cigna Medicare Advantage Plans. ...
- Humana Medicare Advantage Plans. ...
- Benefits of Humana Medicare Advantage Plans. ...
How to sell Medicare Advantage over the phone?
When you are ready to begin your training, it is easy to start right away:
- Review Medicare Training 101 membership plans and pricing
- Sign up for the plan you select by completing the form and submitting your payment
- Login into the portal and access your training materials
- Start building your business while you learn
Why are Medicare Advantage plans so heavily advertised?
Thus, the more people who enroll in Advantage plans, the more funds Medicare gives insurance companies offering these plans. In exchange, the Advantage plans, rather than Medicare, pay for enrollees' care. Critics have raised concerns that CMS steers enrollees to Advantage plans because of this.
How to pick the best Medicare Advantage plan?
When evaluating plans, ask the following kinds of questions:
- What are my medication needs? ...
- Are my current preferred doctors, specialists, and pharmacies in network?
- How much money can I afford to spend on premiums each month? ...
- Will my travel plans affect my coverage needs?
- Do I need any plan extras, such as vision, dental, or hearing coverage?
- Am I eligible for a Special Needs Plan?
How do you market a Medicare Advantage plan?
Medicare Advantage Marketing to current patientsTargeted mail and emails for patients 65+Reminders for current patients during open enrollment.Informational blogs and social media posts.Posters in your office.Referring patients to an informational page on your website with a lead capture.More items...
What marketing practices are allowed by Medicare Advantage companies?
You can't knowingly market to MA or Part D enrollees during the OEP (January 1-March 31). You can, however, market to age-ins (people turning 65). Educational events must be explicitly advertised as educational – no marketing or sales activities are allowed.
Why are Medicare Advantage plans popular?
It's easy to see the appeal of Advantage. Original Medicare doesn't cover all your medical expenses, while Advantage plans have cost-sharing requirements but then cap your out-of-pocket costs. Plus, you have low premiums and the simplicity of all-in-one coverage.
What is one CMS marketing rule that impacts how Medicare insurance plans market to consumers?
Marketing Rules CMS also regulates marketing and plan presentations, including when you're allowed to market, and how you market. Agents must wait until October 1 to begin marketing next year's plans to potential beneficiaries and cannot enroll members until October 15.
What are the marketing guidelines?
What Are Content Marketing Guidelines? Content Marketing Guidelines are a set of instructions indicating tone, voice, length, style and topics on how your brand should communicate to your target audience.
How do you market Medicare on Facebook?
Use these tips to make sure you're taking advantage of Facebook in the best way to market to the Medicare-eligible community.Post the content they want. ... Post frequently. ... Promote your posts. ... Run an ad. ... Follow these compliance tips.
What is the biggest disadvantage of Medicare Advantage?
Medicare Advantage can become expensive if you're sick, due to uncovered copays. Additionally, a plan may offer only a limited network of doctors, which can interfere with a patient's choice. It's not easy to change to another plan. If you decide to switch to a Medigap policy, there often are lifetime penalties.
What is the difference between Original Medicare and Medicare Advantage?
Original Medicare covers inpatient hospital and skilled nursing services – Part A - and doctor visits, outpatient services and some preventative care – Part B. Medicare Advantage plans cover all the above (Part A and Part B), and most plans also cover prescription drugs (Part D).
What percent of seniors choose Medicare Advantage?
[+] More than 28.5 million patients are now enrolled in Medicare Advantage plans, according to new federal data. That's up nearly 9% compared with the same time last year. More than 40% of the more than 63 million people enrolled in Medicare are now in an MA plan.
What are some of the unique rules for marketing and selling Medicare plans?
Medicare has rules for how plans can contact you in different situations: By mail, radio, and print advertisements: Plans are allowed to market themselves by any of these means. They cannot, in these advertisements or in any other marketing situation, suggest that they are endorsed or preferred by Medicare.
Can you solicit Medicare Advantage prospects through email?
The only caveat: If you are initiating contact via email, you're required to include an opt-out opportunity. Direct unsolicited contact, such as text and direct messaging over social media, falls into the same category as unsolicited phone calls and door-to-door solicitation. This means it is not permitted.
What are Medicare marketing materials?
Marketing materials are any materials developed and or distributed by entities covered by the Medicare Marketing Guidelines (MMG) and are targeted to Medicare beneficiaries.
What is marketing in CMS?
Marketing refers to using materials to draw someone’s attention to a specific plan and then influence them to select it. Any marketing materials that have a carrier’s name on them or refer to a particular plan must be approved by CMS.
Can you market to MA enrollees?
You cannot market to potential MA enrollees in the following ways: Approaching someone in a common area (parking lot, hallway, etc.)
Can you market to age ins?
You can, however, market to age-ins (people turning 65). Educational events must be explicitly advertised as educational – no marketing or sales activities are allowed. Marketing and sales events are designed to steer potential enrollees toward a plan or set of plans.
Can you get Medicare Advantage without a goal?
You can’t get to your destination without following a map, and you can’t be successful in Medicare Advantage marketing without a goal. Before you start any marketing plan, write down your goals. Then, you can use the materials at your disposal to help you reach them.
Why Sell Medicare Advantage Plans?
Typically, insurance carriers offer higher commissions for MA plans than Medicare Supplements or Part D plans.
How to Sell Medicare Advantage Plans
Before you can start selling Medicare Advantage plans, you must receive the proper training, licensing, and certifications. Check with your state’s department of insurance to learn about state-specific requirements. After you’re licensed, the next step is marketing your services.
When Can I Sell Medicare Advantage?
Many Medicare-eligibles have restrictions on when they can enroll in new plans. You need to know the specifics of each enrollment period and how they apply to your clients.
Selling Medicare Advantage Over the Phone
You may have heard that you can sell Medicare Supplements over the phone, but you want to know how to sell Medicare Advantage plans over the phone.
How Much Can I Make Selling Medicare Advantage Plans?
The Centers for Medicare and Medicaid (CMS) sets maximum compensation amounts that carriers can pay agents for sales. Click here to read more about agent compensation.
Important Terms to Know When Selling Medicare Advantage Plans
You want to answer clients’ questions with confidence, so it’s important to know the terms they’ll ask about. Here are some common terms beneficiaries will ask about:
Start Selling Medicare Advantage Insurance Today
Selling Medicare Advantage plans can be a lucrative career. At Senior Market Advisors, we give our agents tools for success such as extensive training so you can answer questions with confidence.
What is Medicare Advantage?
To prevent Medica re Advantage plans from providing misleading or even fraudulent information about a plan’s costs or benefits, the Center for Medicare and Medicaid Services (CMS) has published a set of regulations those marketing Medicare Advantage plans must follow. The regulations define what constitutes marketing activities and then define rules for various activities. Among the topics covered:
How much does a 1 star increase in Medicare Advantage mean?
An analysis by Navigant, for example, found that for plans with a 3 star or less rating, just a 1-star increase could lead to an 8 to 12 percent increase in enrollment. As a result, your organization must create a plan to optimize star ratings.
How loyal are seniors to Medicare?
According to a McKinsey survey, seniors are extremely loyal. The survey found 81% of Medicare customers 75 or older said they renewed their plans without shopping for a new one. 76% of 71 to 74-year-olds and 70% of 65 to 69-year-olds reported the same. For marketers selling Medicare Advantage plans, that loyalty can lead to the lifetime value ...
When is Medicare open enrollment?
The Medicare Advantage Open Enrollment period occurs from Jan. 1 to March 31 each year. Individuals enrolled in a Medicare Advantage Plan can switch to a different Medicare Advantage plan or original Medicare once in this period. These dates matter because they give timelines when your marketing will have the most impact.
Is Medicare Advantage a competitive market?
Entering the Medicare Advantage market can be a costly undertaking. Failing to create a realistic strategic plan and product roadmap in what is usually a competitive market anchored by the largest health insurers in the US may lead to less than favorable results.
Does Medicare Advantage have a lifetime value?
For marketers selling Medicare Advantage plans, that loyalty can lead to the lifetime value of Medicare Advantage members outpacing individual or group plan members. As a result, marketing Medicare Advantage plans can generate significant ROI for insurers. Here are some tips when marketing Medicare Advantage plans:
Can Medicare supplement members convert to Advantage plans?
Those with a strong Medicare supplement member count can try to convert those members to Medicare Advantage plans. All insurers have strengths and weaknesses. Identifying your strengths and discovering how they’ll play in the Medicare Advantage market can deliver easy wins and momentum.
What are the Medicare marketing guidelines?
The Marketing guidelines reflect CMS' interpretation of the marketing requirements and related provisions of the Medicare Advantage and Medicare Prescription Drug Benefit rules (Chapter 42 of the Code of Federal Regulations, Parts 422 and 423).
Can Medicare Advantage and Prescription Drug Plans use one document?
The guidelines allow organizations offering both Medicare Advantage and Prescription Drug Plans the ability to reference one document when developing marketing materials.
How to advertise Medicare?
Medicare private plans are allowed to conduct certain activities. For instance, companies can market their plan through direct mail, radio, television, and print advertisements. Agents can also visit your home if you invite them for a marketing appointment. However, insurance agents cannot: 1 Call you if you did not give them permission to do so 2 Visit you in your home, nursing home, or other place of residence without your invitation 3 Provide gifts or prizes worth more than $15 to encourage you to enroll (gifts or prizes that are worth more than $15 must be made available to the general public, not just to people with Medicare) 4 Disregard federal and state consumer protection laws for telemarketing, the National Do-Not-Call Registry, or do-not-call-again requests (you can register online for the National Do-Not-Call Registry or by calling from the number you wish to register) 5 Market their plans at educational events or in health care settings (except in common areas) 6 Sell you life insurance or other non-health products at the same appointment (known as cross-selling), unless you request information about such products 7 Use the term “Medicare-endorsed” or suggest that their plan is a preferred Medicare plan#N#Plans can use Medicare in their names as long as it follows the plan name (for example, the Acme Medicare Plan) and the usage does not suggest that Medicare endorses that particular plan above other Medicare plans 8 Imply that they are calling on behalf of Medicare
What are the rules for selling Medicare?
Insurance companies selling Medicare private plans must follow certain rules when promoting their products. These rules are meant to prevent plans from presenting misleading information about a plan’s costs or benefits, also known as marketing fraud. Medicare private plans are allowed to conduct certain activities.
Can Medicare agents visit my home?
For instance, companies can market their plan through direct mail, radio, television, and print advertisements. Agents can also visit your home if you invite them for a marketing appointment . However, insurance agents cannot:
Can Medicare be used in their name?
Plans can use Medicare in their names as long as it follows the plan name (for example, the Acme Medicare Plan) and the usage does not suggest that Medicare endorses that particular plan above other Medicare plans. Imply that they are calling on behalf of Medicare.
