A Medicare Advantage marketing plan allows you to reach patients at all stages of the process, but it can be tricky to do effectively and ethically. Why you want more Medicare Advantage patients When patients turn 65, they have a 7-month period—three months before, during and after their birth month—to select a Medicare plan.
When can you sell Medicare Advantage?
When Can You Sell Medicare Advantage? DD: A lot of agents look at the Medicare Advantage business and think they can only sell these products when the person turns 65 and then if not, only during what’s called annual enrollment period, which is basically the end of the year between October and December. Is that really the case?
What is the Medicare Advantage market?
That’s an enormous potential market that you should focus on. Medicare Advantage (MA) plans offer supplemental benefits that Original Medicare does not cover. Those benefits can include dental, vision, hearing, and fitness classes. Why Sell Medicare Advantage Plans?
When should I enroll in Medicare if I have marketplace coverage?
Even if you have Marketplace coverage, you should enroll in Medicare when you’re first eligible to avoid the risk of a delay in Medicare coverage and the possibility of a Medicare late enrollment penalty. Here are some important points to consider if you have Marketplace coverage:
When can my clients switch from Original Medicare to Medicare Advantage?
The majority of your clients will have to wait until the Annual Enrollment Period (AEP), which is from October 15 to December 7 to switch from Original Medicare to a Medicare Advantage plan.
When can you start marketing for Medicare?
October 1The Centers for Medicare & Medicaid Services (CMS) does not permit any marketing of the next plan year prior to October 1. Below is a good reminder about what activities are considered “marketing” and must wait until October 1 or later.
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...
Can I switch to Medicare Advantage at any time?
You can make changes to your plan at any time during the Medicare Advantage open enrollment period from January 1 through March 31 every year. This is also the Medicare general enrollment period. The changes you make will take effect on the first day of the month following the month you make a change.
Can you add Medicare Advantage plans at any time?
Anyone can change their Medicare Advantage Plan during their Initial Enrollment Period, Open Enrollment or Medicare Advantage Open Enrollment. Open Enrollment occurs every year from October 15 to December 7. Medicare Advantage Open Enrollment lasts from January 1 through March 31 each year.
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.
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.
Can I switch from Original Medicare to a Medicare Advantage plan?
You can switch from original Medicare to Medicare Advantage during one of the Medicare open enrollment periods. Medicare Advantage plans offer a popular substitute for Original Medicare (Parts A and B).
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 months can you change your Medicare plan?
From January 1 – March 31 each year, if you're enrolled in a Medicare Advantage Plan, you can switch to a different Medicare Advantage Plan or switch to Original Medicare (and join a separate Medicare drug plan) once during this time.
Is it too late to enroll in a different Medicare plan?
If you're covered by both Medicare and Medicaid, you can switch plans at any time during the year. This applies to Medicare Advantage as well as Medicare Part D.
Who is the largest Medicare Advantage provider?
UnitedHealthcareUnitedHealthcare is the largest provider of Medicare Advantage plans and offers plans in nearly three-quarters of U.S. counties.
What are the 3 enrollment periods for Medicare?
This is called your Initial Enrollment Period. It lasts for 7 months, starting 3 months before you turn 65, and ending 3 months after the month you turn 65. My birthday is on the first of the month....When your coverage starts.If you sign up:Coverage starts:2 or 3 months after you turn 653 months after you sign up3 more rows
What Is Medicare Advantage?
DD: I’d like to start with the basics, Luis. I’m sure there are a lot of people who have heard about Medicare, maybe they’re brand new agents or so...
Is Medicare Advantage A Tough Sell?
DD: When I started in final expense sales, I saw many Medicare Advantage prospects, but I never sold any Medicare Advantage plans.Why? Because agen...
How To Get Certified To Sell Medicare Advantage Plans?
DD: What’s the process for somebody who wants to learn how to become a Medicare Advantage insurance agent?You have to do more than getting your ins...
What Happens After AHIP?
Once you get that AHIP done then you’ve done about 70% of your required certifications.Each carrier that you’re appointed with wants to make sure t...
What Are The Long-Term Benefits Of Selling Medicare Insurance?
DD: What would you describe as the long-term advantages selling Medicare Advantage plans as your primary line of business?LM: When you’re doing cro...
Commission For Selling Medicare Advantage Plans?
DD: A lot of agents are looking at this like we’ve talked about it from a final expense standpoint.They’re used to getting pretty high first year c...
How Long Would It Take To Write 500 Sales?
DD: How long do you think it would take to write 500 pieces of business? Somebody who’s serious about this business, they’re full-time, they really...
Can You Cross Sell?
DD: When we look at new Medicare Advantage clients, ones that we found or wrote from maybe one of these referral partners, what’s the guidelines on...
When Can You Sell Medicare Advantage?
DD: A lot of agents look at the Medicare Advantage business and think they can only sell these products when the person turns 65 and then if not, o...
When does Medicare Part A start?
For most people, the Initial Enrollment Period starts 3 months before their 65th birthday and ends 3 months after their 65th birthday month. Once your Medicare Part A coverage starts, you won’t be eligible for a premium tax credit or other savings for a Marketplace plan. If you kept your Marketplace plan, you’d have to pay full price.
When is open enrollment for Medicare?
During the Medicare Open Enrollment Period (October 15–December 7) , you can review your current Medicare health and prescription drug coverage to see if it still meets your needs. Take a look at any cost, coverage, and benefit changes that'll take effect next year.
What is Medicare health plan?
Generally, a plan offered by a private company that contracts with Medicare to provide Part A and Part B benefits to people with Medicare who enroll in the plan. Medicare health plans include all Medicare Advantage Plans, Medicare Cost Plans, and Demonstration/Pilot Programs.
What is the health insurance marketplace?
The Health Insurance Marketplace is designed for people who don’t have health coverage. If you have health coverage through Medicare, the Marketplace doesn't affect your Medicare choices or benefits. This means that no matter how you get Medicare, whether through.
What is original Medicare?
Original Medicare. Original Medicare is a fee-for-service health plan that has two parts: Part A (Hospital Insurance) and Part B (Medical Insurance). After you pay a deductible, Medicare pays its share of the Medicare-approved amount, and you pay your share (coinsurance and deductibles). or a.
Does Medicare qualify for federal tax?
Important tax information for plan years through 2018. Medicare counts as qualifying health coverage and meets the law (called the individual Shared Responsibility Payment) that required people to have health coverage if they can afford it. If you had Medicare for all of 2018 (or for earlier plan years), check the box on your federal income tax ...
Is it against the law to sell Medicare?
It’s against the law for someone who knows that you have Medicare to sell you a Marketplace plan. During Medicare Open Enrollment, there’s a higher risk for fraudulent activities. Learn how to prevent, spot, and report fraud.
What is the age limit for Medicare?
LM: When somebody has Medicare they’re normally 65 and over. You do have a segment of the population under 65 that get Medicare who are usually disabled. Once someone is on Medicare they have two options – Medicare Advantage or Medicare Supplement. There’s not a good or a bad option, there is simply two options.
What is the difference between Medicare Supplement and Advantage?
As long as you’ve done that you’ve done your CYA. The other difference between a Supplement and an Advantage plan is you have a prescription portion. So you’ve got to sell a prescription drug plan with a Medicare Supplement.
How often do you need to take AHIP certification?
Now, certifications in AHIP have to be done every year. It’s a yearly requirement for all Medicare Advantage agents. DD: When you take these certifications, you’re learning all the intricacies of the product, which helps you sell more Medicare Advantage plans. So, these tests are important.
What is the certification test for Medicare Advantage?
Selling Medicare Advantage plans, you get a contract with a carrier, but once you’re contracted with that carrier every year that you are in Medicare Advantage sales, you’re going to have to take a certification test called AHIP. A lot of people freak out, “Oh, it’s so hard.”. Well, it’s Medicare 101. You need to know the product that you’re ...
Can you door knock Medicare Advantage?
Now in the Medicare Advantage world if you don’t have permission to contact you’re not supposed to contact. You can’t door knock for Medicare Advantage, so you’ve got to wait for it to come to you, but you can put a lot of honey out there to attract the bees.
Does Medicare Advantage include prescriptions?
For Medicare Advantage a prescription plan is included. The copays per carrier are probably different, but they function the same way. All you’ve got to do is pull up the formulary, which is usually in a PDF and just do the search for the medications and make sure they’re in there.
Can you make a ton upfront selling Medicare Advantage?
Selling Medicare Advantage insurance, you don’t make a ton upfront.
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 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.
Can you participate in marketing activities in healthcare?
Participating in any marketing activity—such as distributing and accepting enrollment applications, conducting sales presentations, and soliciting beneficiaries—is not allowed in areas where individuals receive or wait to receive healthcare service. These areas include:
Can I provide a brochure for I-SNP?
The facility staff must distribute brochures only to residents who meet the eligibility requirements for enrollment. Brochures may include eligibility requirements and benefits of an I-SNP. In addition, brochures may include a reply card or your telephone number for a resident or responsible party to request more information or a meeting.
What is Medicare marketing guidelines?
The Medicare Marketing Guidelines (MMG) implement the Centers for Medicare & Medicaid Services’ (CMS) marketing requirements and related provisions of the Medicare Advantage (MA, MA-PD ) (also referred to as Plan), Medicare Prescription Drug Plan (PDP) (also referred to as Part D Sponsor), and except where otherwise specified, Section 1876 cost plans (also referred to as Plan) rules, (i.e., Title 42 of the Code of Federal Regulations, Parts 422, 423, and 417). These requirements also apply to Medicare-Medicaid Plans (MMPs), except as modified or clarified in state-specific marketing guidance for each state’s demonstration. State-specific guidance is considered an addendum to the MMG. State-specific marketing guidance for MMPs will be posted to http://www.cms.gov/Medicare-
What is an educational event for Medicare?
Educational events are designed to inform Medicare beneficiaries about Medicare Advantage, Prescription Drug or other Medicare programs and do not include marketing (i.e., the event sponsor does not steer, or attempt to steer, potential enrollees toward a specific plan or limited number of plans).
How long does it take to review marketing materials in HPMS?
Based on the material type, and as indicated by HPMS, marketing materials submitted in HPMS for prospective review will have a review timeframe of 10 or 45 days. The marketing review time period begins on the date a material is submitted in HPMS.
What is a script in Medicare?
Informational scripts are designed to respond to beneficiary questions and requests and provide objective information about a plan or the Medicare program. Sales and enrollment scripts are intended to steer a beneficiary towards a plan or limited number of plans, or to enroll a beneficiary into a plan.
What is co-branding in Medicare?
Co-branding is defined as a relationship between two or more separate legal entities, one of which is an organization that sponsors a Medicare plan. Co-branding is when a Plan/Part D Sponsor displays the name(s) or brand(s) of the co-branding entity or entities on its marketing materials to signify a business arrangement. Co-branding arrangements allow a Plan/Part D Sponsor and its co-branding partner(s) to promote enrollment in the plan. Co-branding relationships are entered into independent of the contract that the Plan/Part D Sponsor has with CMS.
When do Part D sponsors receive EOB?
Part D Sponsors must ensure that enrollees who utilize their prescription drug benefits in a given month receive their Explanation of Benefits (EOB) by the end of the month following the month in which they utilized their prescription drug benefits.
What is a non-benefit/non-health service provider?
Third parties that provide non-benefit/non-health services (“Non-benefit/non-health service providing third party entities”) are organizations or individuals that supply non-benefit related information to Medicare beneficiaries or a Plan’s/Part D Sponsor’s membership, which is paid for by the Plan/Part D Sponsor or the non-benefit/non-health service-providing third-party entity.
