MA Enrollment Continues to Rise Despite Payment Changes

This year, 2013, at Senior Marketing Specialists we are seeing a dramatic increase in our SEP production. With 28% of the Medicare recipients enrolled in MA programs this promises to be one of our best year to date. The BIG news is agents are now selling MA year-round. To learn more, read the article in the link below or call our office at 1.800.689.2800.

http://kff.org/medicare/issue-brief/medicare-advantage-2013-spotlight-enrollment-market-update/

It's Not Just AEP Anymore... MA Enrollment All Year Long

UPDATE: Did you miss the webinar? Good thing we recorded it! .
If you have any questions after the webinar give us a call at 1-800-689-2800.

 

 

Well, maybe that was supposed to be the Groundhog, but how cliche can we get! 

 

Join us for a webinar on Tuesday, February 19th at 1o:00am CST

CMS recognizes nearly 30 different scenarios other than AEP and IEP where an individual may enroll in a Medicare Advantage plan, PDP or both. 

Ø  Low-Income Subsidy (LIS)
Ø  Geographical Move
Ø  Skilled nursing or Long Term Care Hospital Confinement
Ø  Medicaid Eligibility

These are just a few of the many opportunities you can take advantage of to add new Medicare Advantage clients to your client list.  With our support, you could potentially increase your income by $30,000 to $40,000 annually as well as build a new client base to cross market to i.e. cancer plans, hospital plans, etc.

Fun Fact: Did you know that being released from prison qualifies a person for a special election into a MA, MAPD or PDP plan? 

Find out about the numerous year round selling opportunities for Medicare Advantage AND how to market to these specific clients. 

 

 

Become a “The True Medicare Expert” today!

Still wondering about that penguin?  To find out why Senior Marketing Specialists chose the penguin for our mascot and why the power of teamwork is so important check out this quick video!

 

 

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.)

Medicare Advantage Certification | Challenge or Opportunity?

This time every year thousands of insurance agents across the country join their brethren in a common task; procrastinating on getting their MA certification done. Here’s what CMS says:

The Centers for Medicare & Medicaid Services (CMS) require that all sales representatives, agents, and brokers who are licensed and appointed to sell Medicare Advantage or Medicare Prescription Drug Products complete an annual certification program. You must be properly certified to receive commission for group Medicare Advantage and Medicare Prescription Drug Plan sales.

I know but it’s one more thing I have to do in a business that already has too much regulation. The companies keep pressuring me with new rules, advertising guidelines and changing things without notification. Sometimes I wish I’d listened to my grandfather and gotten a real job (that’s what my grandfather told my brothers when they entered the business in 1960. They became wealthy!).

Well everyone agrees it’s a hassle! But let’s look at what might motivate us this year so we can get the job at hand done. Here’s five good reasons:

1. We have to get certified in order to represent the plan provider for MA and PDP and get paid commissions. Okay, fair enough. Now that I think about it, my MA commissions last year during AEP were as much as my Medicare Supplement commissions during the previous quarter of the year.
2. Sixty percent of Medicare Supplement throughout the year is sold in the last quarter. Wow, my earnings so far this year are down over the same period from last year. That gives me an opportunity to bring those earnings up.
3. The companies participating in MA have shrunk in numbers and the plans are some of the best being offered with better networks, some on a regional basis. Really, now that you mention it that would make it easier to decide who I want to represent.
4. 14 million Medicare recipients have chosen Medicare Advantage in only seven years (that’s compared with 10 million Medicare Supplement policyholders). I guess that means we can actually increase the demographic base of people for prospecting who need help  supplementing their Medicare by as much as 30+% in some cases.
5. To truly be in the Medicare market you need to represent both Medicare Supplement and Medicare Advantage. You’re right, with everything that’s transpiring in our business and world, I should be able to give my clients what they need and deserve, respect and choices. It’s hard enough out here today, people are nervous and scared. Maybe I can help some of them!

Okay. I’m going to do it tonight!!!

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

Let Us Help You Navigate Through the Medicare Advantage (MA) Certification Maze!

We learned from our agents last year that the most difficult part about Medicare Advantage (MA) Certification is not the actual tests, but rather the tedious process of becoming certified. Based on our agents' feedback, we realized that agents had a difficult time finding the specific websites and necessary log-in information, and then properly posting their results. Do you find yourself in that same situation? Wouldn't it be nice if you could make one phone call and have all your questions answered about MA Certification? Well, you're in luck.

We are here to help you! Please just give us a call at 1-800-689-2800 or contact one of our marketers directly (Ryan@smsteam.net & Christine@smsteam.net), and we will walk you through the certification "maze."

Important CMS Update

CMS has extended the Special Election Period for those people who have lost their MA or PDP plan. These medicare beneficiaries will now have until Feburary 28th to choose an MA or PDP plan. These clients are currently on Original Medicare, and if they don't choose a new plan they will be on Original Medicare only until next year.

Release of Initial Year Commission Payments for Coventry

Coventry just let us know that they are currently processing the corrected data from CMS that identifies Medicare Advantage (ICEP) and PDP (IEP) enrollments iwth a January 1, 2009 effective date. This includes members who moved from Original Medicare into a Coventry MA plan.

EFT and paper check payments will be made this week. For those who received an EFT payment in May, you may see chargebacks or other adjustments on your corrected EFT's.

There has been a strong, industry-wide concern voiced about CMS ruling on MA and PDP commission rates for 2010. CMS is suspending the implementation of these requirements and expects to issue clarification shortly. CMS ia also examining it's guidance pertaining to 2009 enrollments and whether agents should be paid Initial Year commission for 2009 enrollments from a PDP to a MA plan.

Depending on timing of CMS clarification and barring any additional changes from CMS, initial year payment to brokers for February, Marchy and April 2009 effective dates should be issued in mid-July.

We understand that this is a very frustrating and confusing situation for agents. If you have any questions on these commission issues or anything else, please feel free to contact Senior Marketing Specialists. You can reach us by phone at 800-689-2800 or email charli@smsteam.net. We'd love to hear from you!