What certifications are needed to sell Medicare Advantage plans?
These certifications exist to help protect seniors and reward agents who do things the right way. To sell Medicare Advantage plans, you'll have to complete the America's Health Insurance Plans (AHIP) certification in addition to each carrier's compliance and product certifications.
What is a Medicare insurance agent certification?
Each year, Medicare insurance agents must certify with the carriers whose products they’d like to sell, such as Medicare Advantage (MA) plans, prescriptions drug plans (PDPs), and a few Medicare Supplements.
Is there a Medicare Advantage Sales Agent compliance training plan 2019?
Confidential Medicare Advantage Sales Agent Compliance Training Plan Year 2019 2©2018 GlobalHealth Holdings, LLC. All rights reserved. Confidential Learning Objectives To review and understand CMS Rules for Marketing Medicare Advantage plans GlobalHealth’s Compliance Program Sales Agent Do’s & Don’ts 3©2018 GlobalHealth Holdings, LLC.
Are your Medicare agents ready to sell Medicare supplements?
Each year, Medicare insurance agents must certify with the carriers whose products they’d like to sell, such as Medicare Advantage (MA) plans, prescriptions drug plans (PDPs), and a few Medicare Supplements. This step is imperative for agents to be considered “ready-to-sell” come AEP!
What is an AHIP certification?
AHIP certification is proof that you've completed a series of AHIP Medicare training courses and that you now know how to sell plans in a way that is compliant with up-to-date Centers for Medicare & Medicaid Services (CMS) regulations.
How long is AHIP certification good for?
How long does my AHIP certification last? You must re-certify with AHIP each year. You can recertify via a carrier link for the discounted $125 rate as long as you are an agent in good standing.
How much is the AHIP exam?
$175The AHIP test costs $175, but you can get a discount if you take the exam through carrier portals. Finally, there are dozens of self-study AHIP courses, all geared towards educating and improving the quality of agents in the marketplace.
What is a Medicare carrier certification?
Medicare Carrier Certification Requirements Each year, Medicare insurance agents must certify with the carriers whose products they'd like to sell, such as Medicare Advantage (MA) plans, prescriptions drug plans (PDPs), and a few Medicare Supplements.
Is AHIP Exam open book?
AHIP is an open-book test. Use that to your advantage! This means you can (and should!) refer to the materials AHIP gives you, as well as any additional notes you take, during the test.
How many questions are on the AHIP final exam?
The Final Exam The 50-question final exam is very similar to last year. The majority of the questions our team saw when we took our exams came directly from the review quizzes. The exam is very fair, just not easy.
What is AHM course?
AHM - Allied Health Medical. 1. AHM - ALLIED HEALTH. MEDICAL. AHM 102 Introduction to Health Care This course provides an overview of the organization, financing, regulatory and delivery of different healthcare services.
How do I verify my AHIP certification?
Once you have logged in, scroll down to where it shows “My Certifications” on the “Medicare Course Home” tab. Under AHIP, Fraud, Waste & Abuse Training, click on the “2016 – CMS General Compliance Training” link.
What is a CMS designation?
CMS Designation. About the Compensation Management Specialist (CMS) designation. The Compensation Management Specialist (CMS) designation is rooted in the principles of human resources, compensation design and administration, and executive compensation.
What does regulated by CMS mean?
CMS regulations establish or modify the way CMS administers its programs. CMS' regulations may impact providers or suppliers of services or the individuals enrolled or entitled to benefits under CMS programs.
Is Selling Medicare Lucrative?
In short, yes. The average Medicare Advantage policy pays around $262 a year in commission if the purchase replaces an existing plan. However, you can get approximately double that — $525 — if you write up a new Medicare Advantage plan for someone who hasn't had one before.
Medicare Licenses and Training
Medicare Advantage is a great line to sell, whether you're a newcomer to selling insurance or an experienced insurance professional looking to diversify your portfolio. But no matter how much experience you have, you need proper Medicare insurance sales agent training to complete the certification process.
How to Choose Medicare Carriers and Plans to Sell
Most new agents want to rush in and offer every Medicare Advantage plan from day one. It's an understandable ambition, but it can quickly become overwhelming.
Ordering Medicare Enrollment Kits from Carriers
Each carrier has its own Medicare enrollment kit, which includes handouts that policyholders need when they're considering signing up. Different carriers include various materials in their kits, but most contain:
Help Protect Yourself with E&O Insurance
As a Medicare insurance sales agent, your role is to help your clients prepare for the unexpected and help protect themselves from financial risks. You might have the best intentions, but sometimes things don't work out as planned.
Start Working Toward a Rewarding Career Selling Medicare
All of these certifications, training requirements, and legal protections can make selling Medicare insurance feel overwhelming at first. But don't let them deter you from reaching your end goal — a rewarding and lucrative career.
What are marketing materials for Medicare Advantage?
Marketing Materials include any materials targeted to Medicare beneficiaries that promote a Medicare Advantage plan and contain information on: Benefits Cost-sharing Star Ratings Other plan-specific information Comparison to other plans
How long does it take to apply for Medicare?
Age-in • Individuals have a seven (7) month period to apply for original Medicare. • 3 months before turning age 65, the birth month, and up to 3 months after the birth month. Example: Born 8/15/53 • Individual could apply May 1 –Nov. 30.
How long does a beneficiary have to have a SEP?
Following a Qualifying Event, beneficiary has a two (2) month SEP. Examples:
When can I apply for AEP?
Agents/Brokers cannot solicit or accept an enrollment application for AEP prior to the start of the AEP (i.e., not before October 15). Agents cannot encourage a beneficiary to mail an enrollment form to the health plan prior to October 15.
Is there sales or marketing in areas where patients seek or receive health services?
No Sales or Marketing in areas where patients seek or receive health services
How Do I Get Licensed to Sell Medicare?
However, in order to sell Medicare, you need to first obtain your license by taking the following steps.
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.
What are the benefits of Medicare?
Here’s a short list on what will be covered: 1 The basics of Medicare fee-for-service eligibility and benefits 2 The different types of Medicare Advantage and Part D prescription drug plans 3 Eligibility and coverage 4 Nondiscrimination training 5 Marketing and enrollment under the Medicare Advantage and Part D program requirements
What happens when you upload a carrier certification?
Upon uploading the certification, the carrier will normally have additional carrier specific training listed in order to satisfy their requirements to sell.
What is AHIP certification?
AHIP (stands for America’s Health Insurance Plans) certification is accepted by all and required by most carriers if you want to legally sell Medicare Advantage (MA) or Prescription Drug Plans (PDPs) for the current certification year. Be aware that while most carriers will require AHIP certification, it will only serve as a pre-requisite ...
How much does it cost to pass the AHIP test?
PSM is proud to offer our agents a discount for AHIP certification at $125. The test normally costs $175 for 3 attempts and you must score a 90% to pass. If you fail all 3 attempts you will need to apply again (and pay again) for 3 more attempts.
