Proposed plans to bring back OEP

A few years ago, OEP (Open Enrollment Period) occurred just after AEP (Annual Election Period).  OEP was from January 1st to March 31st and gave Medicare beneficiaries the ability to make one change to their MA, MAPD, or Part D plan. However, now we have the MA/MAPD disenrollment period from January 1st to February 14th.

Click Here to view the full article from SMS-U. 

A Day in the Life of a Medicare Advantage Application

AEP is Almost Here, and I’m Confused

For the last seven years one thing we have all been through is “CHANGE” in the Medicare Advantage market. This is not only frustrating, but requires our time and attention in order to participate in what is the peak annual Medicare sales season. Let’s review some past changes:

• ·       New CMS regulations regarding what we can and can’t do.
• ·       New company certification requirements.
• ·       Company mergers and outright withdrawals of plans and areas.
• ·       Companies suspended from sales activity.
• ·       New networks.
• ·       Networks being abandoned.
• ·       Plans changing premium, out-of-pocket costs, deductibles, co-pay and benefits both positively and negatively.

And the list goes on… So, why do we do this year after year?

Since inception over 15,000,000 Medicare recipients have enrolled in a Medicare Advantage Plan. Currently only 11,000,000 recipients own a Medicare Supplement policy (industry numbers show that 60% of Medicare Supplements sold are sold in the fourth quarter of the year). Medicare Advantage has grown the market share, of companies that supplement Medicare, exponentially in only SEVEN YEARS!!! Medicare Advantage has allowed more agents to sell more plans and receive more commission dollars than any other change in Medicare since 1965.

Is it worth the trouble??? At Senior Marketing Specialists we believe it is. Last year our agents enrolled over 10,000 Medicare recipients in MA plans and we anticipate that number increasing this year.

Let us help you adapt to the constant changes and challenges of a program moving from adolescence to maturity. Call us… WE ARE YOUR MEDICARE EXPERTS!!!

The Medicare Reality

Consumers Have Spoken:

THEY PREFER KEEPING THEIR MEDICARE SUPPLEMENTS!!!

Every year at this time some agents watch anxiously awaiting the rate increases that come annually from companies for Medicare Supplements. Some even begin to schedule appointments in order to “help their clients save money”.  

With the advent of larger companies entering and dominating the Medicare Supplement market: Central States Indemnity, Aflac, United HealthCare, Continental/Aetna, and Mutual of Omaha, we at Senior Marketing Specialists are seeing this old way of thinking becoming less of an issue. Here’s why:

AHIP commissioned American Viewpoint, Inc., to conduct a national survey of Medicare supplement (Medigap) policyholders. As in past years, the survey asked enrollees about their satisfaction and experience with their coverage.

Here’s what CMS and Medicare tell the client:

Your Medicare health or prescription drug plan can change how much it costs and what it covers each year. Even if your plan’s cost and coverage stay the same, your health or finances may change. Review your plan each year to make sure it will still meet your needs. If you’re satisfied with your current coverage, you don’t need to change plans. www.medicare.gov/publications/pubs/pdf/10050

So???

• Should you see your client every year? Absolutely
• Should they switch their Medicare Supplemental Coverage? Depends on their circumstances
• Do they need other coverage’s: Hospital Indemnity Plans, Home Health Care Plan, Final Expense? Quite possibly!!!

At Senior Marketing Specialists we have a unique tool to help you find out what your clients TRULY need this year, our  “Medicare Supplement Prospect Warm Up”.  This was designed after 30+ years of field experience from our sister career agency The Barnes Group.

As we approach 2013 let’s take a look at how we are working with our clients and find new and better ways to serve our clients.

(This article was written by Philip Warren of Senior Marketing Specialists.)

Just Another AEP… I THINK NOT!!!

Aetna has purchased Coventry. United Health Care bought Care Improvement Plus (the most innovative program for Medicare Advantage to date).

CSG Actuarial reported last week:

CMS released 2013 Medicare Advantage (MA) plan data last Wednesday, September 19th revealing almost 5,976 new plan combinations and the non-renewal of more than 6,056 plans for 2013. In many cases non-renewing plans are being replaced by a new plan from the same carrier in that area.

Due to non-renewed plans, approximately 1.7 million seniors are being dis-enrolled from their current plan. Most non-renewed insureds (1.3 million) will be offered a replacement by their current carrier; however, according to CMS data, 393,819 will actively be looking for coverage—a 36% increase over the number of seniors this time last year. The top four states for non-renewed insureds are Washington, Virginia, California, and Texas.

The 36% increase in non-renewals year over year provides opportunity for agents and carriers to fill in the coverage gaps.

So, what does this mean to you, the agent serving the senior market? An opportunity to enroll more people in programs that supplement Medicare in the last quarter of 2012 than most agents will all year long.

Also, 60% of the Medicare Supplements are sold in the last quarter of the year as well.

At Senior Marketing Specialists we’re ready… ARE YOU???

(This article was written by Philip Warren of Senior Marketing Specialists.)

*http://www.csgactuarial.com/news/cms-data-show-non-renewed-plans-for-2013/?utm_source=Campaigner&utm_campaign=CMS_Data_Show_Non-Renewed_Plans_for_2013&campaigner=1&utm_medium=HTMLEmail

Medicare Sales Trend Upwards

While our economy is continuing on a flat-line and the politics are promising to fix all of society’s ills after the November election with no plan or substantiation of action one thing in our business is shining through; sales of plans for supplementing Medicare are exceeding the projections made by one of our marketing associates, CSG Actuarial. Here’s what Doug Feekin had to say in an article last week:

Turns out, the Medicare Supplement market is growing even faster than we originally predicted.

Last June, CSG Actuarial published its 2nd annual Future of Medicare Supplement Market research paper. We predicted the Medicare Supplement market would grow in 2012 to 10.4 million lives, generating $22.8 billion of premiums. Based on strong trends through August, however, CSG Actuarial predictive models are now showing the Medicare Supplement market will grow in 2012 to more than 10.5 million lives, generating over $23 billion of premiums. The number of 2012 Medicare Supplement lives is up more than 3% from 2011 while the premiums are up almost 5% over 2011.

Companies are recognizing this growth and pushing hard to achieve greater market share in the Medicare Supplement market. In the last 12 months, Aetna and Cigna have purchased Medicare Supplement blocks to increase their presence in the Medicare Supplement market. Also, more than 5 companies have entered or re-entered the Medicare Supplement market in 2012 and 3 other companies have re-priced their premium rates to get more competitive in the market

http://www.csgactuarial.com/news/medicare-supplement-market-growing-faster/

To add to this major carriers are telling us at Senior Marketing Specialists that, in the Medicare Advantage arena, they are predicting this AEP will be one of the best for overall sales to date. With new plans, lower out of pocket costs in all areas and increased network access they’re probably right.

So, what does this mean to the agent serving consumers in the Medicare market today for us at Senior Marketing Specialists:

·         Consumers still see Healthcare as the #1 concern in retirement. (ASK THEM)

·         We have more plans in more price ranges to supplement Medicare than ever before, Plan F, Plan G, Plan N, Plan HDF and Medicare Advantage.

·         Do we have better information and ways of communicating the facts? I think so!!!

·         When properly approached, from a place of knowledge, education and most importantly SERVICE consumers will be responsive to real solutions offered to them.

It’s reported that 60% of the Medicare Supplements sold are purchased in the last quarter of the year. At McNerney Management Group, which includes Senior Marketing Specialists and Barnes Insurance Group, that is our experience as well in the past few years.

With sales trending up will your business trend up as well? I hope so!!!

(This article was written by Philip Warren of Senior Marketing Specialists.)

The Medicare Market Potential

Yesterday I addressed a group of agents who had been in the Medicare Supplement Market for a very long time. They STILL sell Plans G&F primarily. They were resistant to including Medicare Advantage in their portfolio. Here are some of my remarks from that meeting:

In the last decade we have seen the face of the market for people participating in Medicare change more than any other time since Medicare’s inception in 1966. The variety of plan choices, growth in demographics, new models of sales distribution, fewer licensed agents, Health Care Legislation, pricing wars and constraints from carriers, and government cutbacks on Medicare benefit payments have created, not a problem, but an unprecedented opportunity for organizations marketing insurance to the over 65 market.

In 2012, we will have over forty-one million people in our country over age 65.

·         13,000,000 enrolled in Medicare Advantage programs.

·         10,000,0000 carrying private insurance (Medicare Supplement).

·         3,000,000 becoming eligible for Medicare benefits.

·         Countless retirees losing health benefits.

Google lists 88,700,000 results when key words “Medicare Plan Choices” are used.

·         Original Medicare

·         Medicare Supplement

·         Medicare Advantage

·         Continuation of Group Coverage

·         Prescription Drug Coverage

·         Low-Income Subsidy (LIS)

·         Programs of All-inclusive Care for the Elderly (PACE)

·         Medicaid

How many prospects were they ignoring due to their old, myopic view of the market???

Dallas County, where I live, Demographic Profile:

·         Ages 64 – 80: $0 - $100,00, All Households - 84,657

·         Ages 64 – 80: $20,000 - $100,000 Homeowners - 61,950


·         ADDITIONAL PROSPECTS - 22,707

·         27% of market potential being ignored

In the last quarter of each year it’s reported that 60% of Medicare Supplement sales for the year will be made. And we all know the impact of AEP on Medicare Advantage. So this begs the question: WILL WE/YOU CHANGE THE WAY YOU LOOK AT AND APPROACH THE MARKET AS WE ENTER THE FOURTH QUARTER????

The business is out there!!! It’s our job to go get it!!!

(This article was written by Philip Warren of Senior Marketing Specialists.)

Free Webinars: Preparing You to Have Your Best AEP Selling Season

Here at Senior Marketing Specialists (SMS) we want to help you be prepared to have your best AEP season ever! We have developed the perfect AEP Marketing plan, and we want to share it with you; phone scripts for your current clients, lead pieces pulling over 4%, field tested training and numerous step by step prospecting ideas. Don't miss out on this unique AEP marketing webinar!

Here's the Schedule:
Tuesday, August 23 at 6:00pm CDT
Wednesday, August 24 at 11:00am CDT
Friday, August 26 at 3:00pm CDT

Click here to register for any of these webinars.*

Or, to view our complete training schedule, click here.

*Note: If you register for one, you are able to attend any of the three webinars!

Medicare Advantage Certification & AHIP Discounts

Here at Senior Marketing Specialists we know how important it is for insurance agents to be informed. That is why we blog, to help provide you with the information you need to succeed in the Senior Market!

As you are probably aware, the 2012 AHIP course has been available for agents since June 16, 2011 on AHIP’s website. Certification directly through AHIP costs $150. The good news is, two carriers are offering discounts for completing the certification process through them.

• Coventry Health Care will be offering a certification discount starting July 15, 2011.


• United Health Care will be offering a $50 certification discount beginning August 1, 2011.

If you have any questions, leave a comment here and we will reply within 24 hours. Or call our office at 1-800-689-2800 and speak with one of our experienced marketers for immediate assistance! We look forward to working with you this AEP!

Info for Insurance Agents about the 2012 Medicare Annual Enrollment Period (AEP)

At Senior Marketing Specialists we are committed to helping independent insurance agents in the Senior Market stay up-to-date with the latest industry information. One thing that agents should be aware of as fall approaches is that the Medicare Annual Enrollment Period (AEP) has changed for the 2012 selling season. This year AEP will begin earlier.

The official dates for the 2012 AEP: October 15 - December 7.

Please feel free to contact us at 1-800-689-2800 with any questions!