New applicants for licensure must hold the following licenses before they can sell in NC: 1. Accident & Health and/or Sickness (20 hours of pre-licensing and passing the state exam) 2. Medicare Supplement/Long Term Care (10 hours of pre-licensing and passing the state exam)
What licenses do I need to sell Medicare products?
In most cases you only need a health insurance license, although in North Carolina for example, there is a specific license to sell Medicare products. It’s best to check with your state Department of Insurance for licensing requirements specific to your state to make sure.
Does North Carolina have a Medicare guarantee for individuals with disabilities?
However, thirty-three states have adopted state legislation extending guarantee issue to that group of individuals. North Carolina is one of the states that legislatively mandates eligibility to individuals eligible for Medicare due to disability.
What are the income limits for Medicaid in North Carolina?
As of 2019, the medically needy income limits are $242 for a single individual and $317 for a married couple. North Carolina has a six-month period for one to meet their “Medicaid deductible”, or said another way, to “spend-down” their excess income to the Medicaid eligibility limit.
Are North Carolina seniors eligible for Medicaid long-term care?
The American Council on Aging now offers a free, quick and easy Medicaid eligibility test for seniors. There are several different Medicaid long-term care programs for which North Carolina seniors may be eligible, and the eligibility requirements and benefits vary based on the program.
What are the qualifications for Medicare in NC?
In North Carolina as elsewhere, you're usually eligible for Medicare if:You're 65 or older, and.You're a US citizen or a legal permanent resident of at least five continuous years, or.You receive disability benefits, or have amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease).
Can you make a lot of money selling Medicare?
Earning income potential is dependent on sales commissions, talent and location. On average, medicare sales agent jobs pay around $65,000 annually, but top agents can earn six-figure incomes in just three years, suggests Redbird Network.
How hard is it to sell Medicare?
No, it's not hard to sell Medicare Supplements. When you're first starting, it should be easy, because everyone on Medicare needs one. It's just an insurance product. You're not a member – you're a policyholder, and that means a lot to people.
How does a Medicare agent get paid?
Once a beneficiary is enrolled in an MA or Part D plan, agents earn a commission when the beneficiary switches to a new plan or stays with the original plan. The commission is paid to the agent of record as long as the beneficiary does not have an enrollment submitted to a new insurer by another agent.
Is selling Medicare Worth It?
Is Selling Medicare Lucrative? In short, yes. The average Medicare Advantage policy pays around $287 a year in commission if the purchase replaces an existing plan. However, you can get approximately double that — $573— if you write up a new Medicare Advantage plan for someone who hasn't had one before.
Is it worth it to sell Medicare?
Selling Medicare can be very lucrative, but just like any other self-starter type of job, the more effort you put in, the bigger the payoff. When it comes to making money selling Medicare, there are two main ways you can earn income which include commissions and residual income.
How do I get Medicare clients?
⍟ 14 Ways to Generate Medicare Supplement LeadsBuild & Maintain a Website. ... Social Media Presence. ... Video Marketing. ... Blogging, Writing Articles. ... Email. ... Online Events: Live webinars, podcasts. ... Direct Requests / Client Referrals. ... Lead Swapping Partnerships (Asking other professionals for referrals)More items...
Can you sell Medicare door to door?
MA/PD PLANS May not market to beneficiaries door to door, including leaving materials at a beneficiary's doorstep. May call a beneficiary they enrolled in a plan to discuss plan business, as well as discuss the availability of other plan options/types within the same parent organization.
How much do Medicare leads cost?
As mentioned previously, new Medicare Advantage pay $25 for each direct mail lead.
Which type of insurance agents make the most money?
Overview of the Insurance Field While there are many kinds of insurance (ranging from auto insurance to health insurance), the most lucrative career in the insurance field is for those selling life insurance.
How do I study for AHIP?
Go through the AHIP training modules at least once, review them for a second time or third time if they're new to you. Take your time going through the information; don't rush to get through the modules. Let the details on each slide sink in, especially if it will be your first time taking this exam.
What is street level commission?
Street level commission is the base commission amount paid by the company you work for. This is normally expressed as "base commission" or "street level commission" on the rate sheet you receive from your insurance company or General Agent.
What to do when selling Medicare supplements?
When you sell Medicare supplements from home, you need to offer a variety of products to meet each beneficiary’s needs. This includes supplement products, prescription drug coverage, Medicare Advantage products, and ancillary products. Ensure the products you are offering benefit the client, not a push for your pocketbook.
How many clients does Medicare have?
Your income is only limited by the time you put into working. On average, a Medicare insurance agent in business for five (5) years has around 400-500 clients.
How to remain independent with Medicare?
To remain independent, you will likely need to obtain your insurance company contracts through a Medicare Insurance FMO. An FMO will work to obtain the best contracts for you to sell clients. Their support in finding you the best product to offer frees your time to meet clients and close sales.
What is Medicare Advantage?
One of the benefits is the sale of Medicare Advantage or a Medicare supplement that provides you with a residual income for years. This is a passive income you enjoy the benefit of from every sale. Working as an independent agent means the commissions pay directly to you.
How many people will be on Medicare in 2060?
Projections are that by 2060 there will be 98 million people in that age range. The estimation is 21.1 million over age 85 in 2030. What this means when it comes to Medicare insurance sales is that one in every seven people, the equivalent of 15.2% of the population, meets Medicare age qualifications.
How many Americans have Medicare Advantage?
Ambition to put forth the effort to make sales. About 1/3 of Americans obtain their Medicare through Medicare Advantage Plans. The other 2/3 of the eligible persons have original Medicare, and about 81% of those enroll in supplement coverage.
Can you refer Medicare insurance to a client?
If you personally deliver the Medicare insurance policy to your clients, you have the opportunity to go over again the benefits of the plan they purchased. This is also the perfect time to request a referral. By building a trusting relationship, you may be able to sell them additional products later.
What is the North Carolina Division of Aging and Adult Services?
The North Carolina Division on Aging and Adult Services offers several programs for North Carolina seniors. You can get access to most of these programs through your local North Carolina Area Agency on Aging or your local North Carolina Senior Center. Let’s look at some that you may find helpful:
Can I get Medicare in NC if I have ALS?
The North Carolina Medicare eligibility requirements are the same as in every other state. You can qualify if you are age 65 or older (or within three months of turning 65) or if you are diagnosed with either ALS or ESRD. You can also qualify for Medicare in North Carolina if you receive SSDI (Social Security Disability Insurance), in which case you will be automatically enrolled in Medicare your 25th month of receiving SSDI benefits.
How to become a Medicare agent?
The first step to becoming a licensed Medicare agent is to complete a pre-licensing course. You can usually choose to take this course in a traditional classroom setting or online in a self-study format if you prefer. Choose your state of residence , select the “Life and Health” option , and then choose the exam prep package that best suits your needs. Once you’ve completed the course, you’ll receive a Certificate of Completion that is valid for one year from the date it was issued. You will need to pass your state licensing exam within this time.
Is selling Medicare a good job?
Selling Medicare is a great line of work for individuals who are professional, outgoing, and self-motivated. It can also be a very lucrative line of work if you’re willing to work as hard as you can and set ambitious goals for yourself.
What is NCSMP in Medicare?
NCSMP’s purpose is to educate Medicare beneficiaries and caregivers about Medicare benefits in order to understand Medicare Statements such as Medicare Summary Notices (MSN), Medicare Part D Prescription Drug Plans (PDP) Explanation of Benefits (EOB) and other related health care statements.
How long do you have to enroll in Medicare?
The Medicare Prescription Drug Plans (PDPs) are sold by private insurance companies approved by Medicare. All people new to Medicare have a seven-month window to enroll in a PDP – three months before, the month of and three months after their Medicare becomes effective. The month you enroll affects the PDP’s effective date. All people with Medicare are eligible to enroll in a PDP; however, unless you are new to Medicare or are entitled to a Special Enrollment Period, you must enroll or change plans during the Open Enrollment Period for Medicare Advantage and Medicare Part D, Oct. 15 through Dec. 7. There is a monthly premium for these plans. If you have limited income and assets/resources, assistance is available to help pay premiums, deductibles and co-payments. You may be entitled to “Extra Help” through the Social Security Administration. To apply for this benefit contact SHIIP or the Social Security Administration at 800-772-1213 or www.socialsecurity.gov.
How long does it take to enroll in Medicare Part D?
The Medicare Prescription Drug Plans, also called PDPs, are provided by private companies that sell plans approved by Medicare. You can identify an approved plan by the MedicareRx logo. All people who are new to Medicare have a seven month window to enroll in a Medicare Part D drug plan – three months before, the month of, and three months after their Medicare becomes effective. Remember, the month you enroll will affect the month your PDP is effective.
What is Medicare Supplement Insurance?
Medicare Supplement Insurance Medicare supplement plans are one health insurance option for people with Original Medicare. There are standardized Medicare supplement insurance plans available that are designed to fill the gaps left by Original Medicare (Parts A and B).
How is Medicare supplement plan priced?
Medicare supplement plans can be priced in three ways: • Attained-age-rated: Premium is based on your current age. • Issue-age-rated: Premium is based on the age when you purchase the policy. • No-age-rated: Premium is generally the same for everyone regardless of age or gender.
What is NCSMP?
NCSMP is a preventive educational program whose goal is to reduce Medicare error, fraud and abuse through statewide coordinated educational efforts, partnerships and outreach activities.
What is Medicare Supplement?
What is a Medicare Supplement (or Medigap) Plan? Medicare supplement plans are one health insurance option for people with Original Medicare. There are standardized Medicare supplement insurance plans available that are designed to fill the gaps left by Original Medicare (Parts A and B).
What is the number to call for Medicare Supplement?
Are you considering a Medicare Supplement Plan? For a comparison of Medicare Supplement plans that might be right for you, call one of our trained SHIIP counselors Monday through Friday from 8am to 5pm toll-free at 1-855-408-1212.
How long can you wait to apply for Medicare Supplement?
The insurance company may impose a pre-existing condition waiting period, but it cannot be longer than six months . This would include any health condition diagnosed or treated six months prior to the Medicare supplement application. If a person has prior creditable coverage, the waiting period must be waived.
How long do you have to apply for a new insurance policy?
We recommend that you apply at least 30 days before you want the policy to start. If you do not have 30 days , apply as soon as possible.
Does North Carolina have Medicare?
North Carolina is one of the states that legislatively mandates eligibility to individuals eligible for Medicare due to disability. North Carolina G.S. 58-54-45 guarantees that individuals under the age of 65 who qualify for Medicare are eligible to purchase a Medigap policy A, D, and G effective January 1, 2020.
Can you deny Medicare coverage?
Companies cannot deny coverage or charge more for current or past health problems. If you fail to apply for a Medicare supplement within your Open Enrollment Period, you may lose the right to purchase a Medicare supplement policy without regard to your health.
Does Medicare cover disability?
Medicare Supplemental Insurance federal regulations do not guarantee eligibility to individuals under age 65 who are eligible for Medicare due to disability. However, thirty-three states have adopted state legislation extending guarantee issue to that group of individuals. North Carolina is one of the states that legislatively mandates eligibility ...
What is the number to call for insurance license in North Carolina?
For more information on this topic, call the North Carolina Department of Insurance at (919) 807-6800 or email the License Department.
How many hours of pre-license education is required in North Carolina?
Each line of authority in North Carolina requires twenty (20) hours of pre-license education.
How many days do you have to take the insurance exam?
You should receive an email from Pearson Vue after submitting your application with a “reservation number” to take the exams. You have ninety (90) days from the time you completed your pre-licensing course to the time you pass the exam.
What is Medicaid in North Carolina?
Medicaid is a wide-ranging, jointly funded state and federal health care program for low-income people of all ages, including pregnant women, children, families, disabled, and the elderly. However, this page is focused on Medicaid eligibility for North Carolina senior residents (65 and over), ...
What income is counted for Medicaid?
Examples include employment wages, alimony payments, pension payments, Social Security Disability Income, Social Security Income, IRA withdrawals, and stock dividends.
When only one spouse of a married couple is applying for nursing home Medicaid or a Medicaid waiver, is the income
When only one spouse of a married couple is applying for nursing home Medicaid or a Medicaid waiver, only the income of the applicant is counted. Said another way, the income of the non-applicant spouse is disregarded.
Is a nursing home exempt from Medicaid?
The home is also exempt, regardless of where the applicant lives and his / her equity interest, if a non-applicant spouse lives in it. For married couples with one spouse as a Medicaid nursing home or Medicaid waiver applicant, the non-applicant spouse is entitled to an asset allowance.
Do you need nursing home for Medicaid?
For nursing home Medicaid and many HCBS Medicaid waivers, an applicant must require a nursing home level of care. Furthermore, some program benefits may have additional criteria specific to that particular benefit.
Does the Medically Needy Pathway help with Medicaid?
Unfortunately, the Medically Needy Pathway does not assist one in spending down extra assets in order to meet Medicaid qualification. If one meets the income requirement for Medicaid eligibility, but not the asset requirement, the above program cannot assist one reducing countable assets.
Does North Carolina have multiple pathways?
Further complicating eligibility is the fact that not only does the state of North Carolina offer multiple pathways towards eligibility, but the criteria also varies based on if one is single or married.
