Should I attend a Medicare supplement or Medicare Advantage Sales seminar?
Depending on the agent hosting the event, you may learn about both of these options, or only one. If you are interested in learning specifics about Medicare Supplement or Medicare Advantage plans, you should choose a sales seminar.
Should I host a Medicare sales event or educational event?
If you’re looking to grow your Medicare Client base then you will eventually want to consider hosting a Medicare Sales Event or an Educational Event. Before you go rushing out and scheduling an event there are some important things to consider to ensure a successful, compliant event, that will benefit both you and your attendees.
What are the different types of Medicare sales events?
There are 2 different types of Medicare Sales Events: Formal and Informal. Let’s start by defining the 2 types. Formal Sales Event: In this type of sales event an agent can present a carrier specific presentation to invited attendees.
What do you need to know about Medicare seminars?
Medicare seminars are designed to offer seniors answers about their future. However, choosing a seminar can leave you even more confused. We’ll cover the need-to-knows about Medicare seminars, and provide some reliable Medicare resources. 1. There Are Two Different Kinds of Seminars
Is being a Medicare agent 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.
What actions are prohibited during marketing sales events?
Cannot send unsolicited text messages and leave voicemail messages. May call or visit beneficiaries who attended a marketing/sales event prior permission is given and documented. Cannot approach beneficiaries in common areas (i.e. parking lots, hallways, lobbies, sidewalks).
What is an informal marketing sales event for Medicare?
There are two types of sales events: formal and informal. Here's what sets them apart: Formal Sales Events: Agent presents plan-specific information to an audience invited to the occasion. Informal Sales Events: Agent offers plan info upon request only while at a table, booth, kiosk, or RV.
Which activities are permitted at a Medicare educational event?
You may do the following at the conclusion of your educational event: Distribute business cards and contact information so beneficiaries can contact you at a later date. Complete and collect Scope of Appointment (SOA) forms. Set up marketing appointments.
Can food be provided at a Medicare educational event?
Educational events are the exception to the “meals” part of the rule above. You can still provide food and snacks at educational events, but you are also allowed to provide meals. If you'd like to provide meals at an educational event, here are a few additional rules you must follow.
What is a Medicare marketing event?
CMS definition - Marketing/sales events are events designed to steer, or attempt to steer, enrollees or. potential enrollees toward a plan or a limited set of plans.
Who can present at an informal marketing sales event?
Informal marketing/sales events are conducted with a less structured presentation or in a less formal environment. They typically utilize a table, kiosk or a recreational vehicle (RV) that is manned by a plan sponsor representative who can discuss the merits of the plan's products.
When must a marketing sales event be reported?
Report all marketing/sales events (including additional events reported throughout the month) prior to advertising the event or 10 calendar days prior to the event's scheduled date, whichever is earlier.
During which type of educational event are agents allowed to discuss plan specific information?
The agent can set up a sales/marketing appointment with a member, and pass out business cards. It is okay to complete SOA forms and collect them at an educational event. At a sales event, marketing activities and lead generation can take place, including discussing plan-specific information and collecting applications.
Do agents have to report educational events to United Healthcare?
According to CMS regulations and UnitedHealthcare policy, agents are prohibited from conducting a marketing/sales event immediately following an educational event. There must be at least one hour separating the conclusion of an educational events and the beginning of a marketing/sales event.
What is considered by CMS to be a sales and marketing event?
What Does CMS Consider a Sales Event or Appointment? An activity will be considered a sales event or appointment if it is designed to persuade potential enrollees to choose a specific plan (or set of plans), according to CMS.
What is bundling at a sales event?
Bundling is a marketing strategy where companies sell several products or services together as a single combined unit. The bundled products and services are usually related, but they can also consist of dissimilar items which appeal to one group of customers.
What happens if you don't register an event with a carrier?
Furthermore, if you fail to register an event with a carrier, you could lose out on sales commission and have your contract revoked.
What is the responsibility of a carrier for a sales event?
Exact reporting deadlines and requirements vary from carrier to carrier, but carriers are responsible for maintaining accurate records of all their agents’ educational events and informal and formal sales events. The earlier you submit your events to carriers, the sooner you’ll be able to start advertising them.
How to promote a gathering?
You can promote your gathering online, via direct mailers and flyers, or through other forms of media. However, if you cancel the event at least two days in advance, it’s a good practice to notify potential attendees via the same advertising channels you used to promote the event.
How to distribute giveaways?
Distribute giveaways with your contact information on it 1. Use absolute or qualified superlatives. Give away promotional items that include plan name, logo, toll-free number, and/or carrier website 2. Use contact information provided by attendees for raffles or drawings for any other purpose.
What is sales event?
Sales events allow agents to try to direct potential enrollees or current members toward a plan or set of plans. Many marketing and lead-generating activities are allowed, but there are rules regarding the information you can collect. See what you can and cannot do at sales events below.
What are the two types of sales events?
There are two types of sales events: formal and informal. Here’s what sets them apart: Formal Sales Events: Agent presents plan-specific information to an audience invited to the occasion. Informal Sales Events: Agent offers plan info upon request only while at a table, booth, kiosk, or RV.
Do you have to disclose the products you plan on reviewing?
Additionally, you must include the following disclaimer on all advertisements and invitations for your event: “For accommodation of persons with special needs at sales meetings call <insert phone and TTY number>.”.
What are the two types of events that Medicare can hold?
In general there are 2 types of Medicare Events you can hold, Educational Events and Sales Events. The educational event is meant for you to share information, and answer any questions your prospects or their care-givers may have. An educational event is not intended for sales activities like distributing plan specific marketing materials ...
What is Medicare Educational Event?
A Medicare Educational Event gives agents an opportunity to get in front of prospects and their caregivers who are looking to learn about Medicare, Medicare Advantage, Part D and other Medicare related programs.
How much notice do you need to give for a cancellation?
If you have to cancel an event, there are best practices you should be aware of. You should strive to give your attendees at least 48 hours notice of the cancellation. Along with the following best practices, you should follow up with your carriers as they may have specific requirements regarding event cancelation.
How long do you have to stay at a venue after the start time?
You or your rep must remain their until at least 30 min. after the original start time.
When do you have to fill out a registration form?
In most cases they will require you to fill out a form detailing your event. You will normally be required to submit the registration the month prior to the event, so make sure you understand the timeline of the requirements before setting an event date.
Can you hand out marketing materials at an educational event?
You’re not trying to steer people toward any product with an educational event. Nevertheless, you are allowed to hand out generic marketing material, business, cards, etc. You are also allowed to complete Scope of Appointment (SOA) forms for future appointments and collect them during an educational event.
Can you require a prospect to fill out contact information to RSVP?
You cannot require potential prospects to fill out contact information to RSVP to your sales event. Your marketing materials must also contain the disclaimer: “For accommodations of persons with special needs at meetings call <phone number and TTY number>".
Kaplan Financial Education
Kaplan offers courses for new and prospective agents as well as those more experienced in Medicare sales. You can sign up for licensing exam prep courses specific to life and health agents, as well as training that will fulfill your continuing education credit requirements.
AHIP
You can’t sell Medicare Advantage without knowing about AHIP, but if you think a yearly exam is all they offer, you may be missing out. They also offer over 40 courses covering health insurance in general as well as Medicare and Medicaid specifically.
Medicare Sales Training Guides
Our downloads page contains over a dozen topic-specific guides. You can learn about enrollment periods, lead generation, client retention, and more. You’ll also find new information and training regularly right here on our blog.
Medicare Sales Training Webinars and Videos
If webinars and videos are more your learning speed, we’ve covered that, as well.
One-on-One Support
When other FMOs talk about training and support, they’re treating them as separate topics. At NCC, we get that supporting you means giving you all of the information and tools you need to sell successfully. Access to Medicare sales training is one of the many benefits of working with us.
How many different kinds of seminars are there for Medicare?
1. There Are Two Different Kinds of Seminars. Before signing up for a Medicare seminar or workshop, you need to make sure you’re going to the right kind. There are two types to choose from. Depending on the information you are looking for, you will need to decide to attend an educational seminar or a sales seminar.
What is Medicare Supplement?
Your options include Medicare Supplement (Medigap) plans, which work with your Medicare coverage to fill in the gaps, or Medicare Advantage plans, which replaces your Medicare coverage. Depending on the agent hosting the event, you may learn about both of these options, or only one. If you are interested in learning specifics about Medicare ...
Is Medicare seminar free?
Most Medicare seminars are free; in fact, many will have food and beverages to thank you for coming! There is a wealth of information and advice about Medicare available free of charge from trusted sources online, including the Medicare website.
Can an agent promote Medicare?
Of all the rules on “Medicare speak,” this is probably the one that agents recognize the most. An agent who sells Medicare products cannot promote their services in such a way, so as to make potential (or current) clients think they’re recommended or endorsed by Medicare itself or the government.
Can you cross sell life insurance during a Medicare appointment?
Otherwise, you’re not allowed to cross-sell other, non-Medicare types of plans, like dental, vision, hearing, and hospital indemnity plans, during a Medicare appointment. You definitely cannot cross-sell life insurance, annuities, and other products not listed on the Scope of Appointment during a Medicare sales appointment.
Can Medicare cover all of its members needs?
No plan can cover all of its members’ needs. As an agent, you probably learned that early on. Don’t mislead your clients into thinking a single Medicare plan is the magic answer to better health and finances.
Can Medicare agents say anything during sales appointments?
The Centers for Medicare & Medicaid Services have some strict rules on what agents can and cannot say during Medicare sales appointments, but pulling them out of the dense Medicare Advantage & Part D Communication Requirements can be tough and time-consuming. Here are some examples to help simplify things!
Can you use "unsubstantiated absolute" in Medicare?
CMS states that plans, Part D sponsors, and agents cannot use “unsubstantiated absolute and/or qualified superlatives or pejoratives” in the Medicare Advantage & Part D Communication Requirements. This includes phrases like “one of the best” and “among the highest ranking.”.
Does Medicare Advantage have a copay?
While certain Medicare plans (e.g., $0-premium Medicare Advantage plans) may not have a premium or copays, that doesn’t mean they’re free. Using the word “free” in association with Medicare plans is majorly misleading as these plans can still have copays, coinsurance, and deductibles above $0, as well as specific network requirements and service areas for any $0 benefits.