Medicare insurance sales basics
This post gives agents some Medicare insurance sales basics to help you get off to a good start.
Medicare insurance sales basics: Contracting
- The agency/entity must be licensed if they will be receiving commissions.
- The principal/affiliated producer must also have a license and be certified in order to receive compensation pay.
- This can cause issues, because sometimes the affiliated person is producing and is not going to certify.
- Some organizations list a producer in the office as the affiliated person in the event the owner/principal is not going to get certified
- All contracting of sub agents is help up until the affiliated person is contracted and certified.
Medicare insurance sales basics: Certifications
- Each company has their own certifications that you complete online.
- Once you complete contracting, some companies email you a link to do the certifications (such as UHC). Others have a website that you go to for certs (such as Aetna).
- All Medicare advantage plans require that you complete an annual AHIP certification.
- The exception to this is UHC which only requires an online cert and NOT AHIP
- UHC cert gives access to all UHC Medicare Advantage plans, Part D plan and Medicare supplement plans.
Medicare insurance sales basics: Contacts
- Your contracting contact is Lisa Fusco at Crowe and Associates [email protected] CLICK THIS LINK FOR CROWE AND ASSOCIATES CONTRACTING 2019
- You can look up the certification sites for each company by going to pfsinsurance.com Click on “compliance” and then “certifications”. You will need a username and password to get into the site. Jessica Krupnick is your contact at Pinnacle FInancial Services [email protected] 800-772-6881 x7726. Jessica can provide a username and password for you.
- When the agency principal/affiliated person has their certs done, supplies can be ordered by calling or emailing Amy Cohen at pinnacle [email protected] 800-772-6881 x 7730
- Use the pinnacle quote engine Go to pfsinsurance.com Click on the “quotes tab” and then “Medicare quotes” This will give you access to the MAPD, PDP and Medicare supplement plans for all major carriers in CT.
Medicare insurance sales basics: Strategy
- I would suggest starting off with UHC only for this year. It is certainly nice to have the other carriers such as Aetna and Anthem but that requires an AHIP certification for each person and completion of each companies modules
- Medicare Open enrollment is from Oct 15th to Dec 7th. You can start seeing people to tell them about the 2018 plans on October 1st but cant take an application until the 15th.
- Open enrollment is a time when people currently on Medicare plans can make changes to a different plan type or company
- You should make your current clients aware of the fact you now handle Medicare. This may get you some meetings with people already on Medicare for open enrollment (just to do a review) It will also make those turning 65 aware that you can help them when they sign up for Medicare.
- Any of my group or individual health clients that are turning 65 in the next 3 years are in my calendar. I call them 4 months before they turn 65
- Any clients/prospects I run into during the year, I book an appointment with them for OEP to go over the plan changes
- Groups can save a lot of money by having their employees that are 65 and older go on Medicare. The group usually pays for their part B premium, supplement as well as drug plan. This still saves them a lot of money vs. having them on the group plan. Of course, employees cannot be forced off the group plan. They must choose to go with Medicare.
Medicare insurance sales basics: Get more advanced with time
- Initially, there will be opportunities with those turning 65, people 65 and older on group plans and OEP plan reviews.
- Once you have the basics in place, you can add additional carriers (Anthem, Aetna and United American)
- Meet with your groups to explain you can work with the employees and their dependents when they turn 65
- Meet with groups to talk about offering an attractive option for age 65 and over employees to go on Medicare
- Run seminars with the carriers covering the cost (UHC and Aetna) (You need to find the venue and pay any cost associated with reserving it)
- Learn about high deductible F and when to use it with prospects currently on other Supplements
- Need to certify and order supplies ( supplement kits, Preferred, saver and Walgreens PDP kits, UHC Medicare complete plan 1,2,3 kits
- Need to understand the basic difference between a Medicare supplement and Medicare advantage plan
- Medicare Supplements
- Medicare Advantage
- Popular plans are $0 monthly premium
- Copay plans without major deductibles
- Plan includes a drug plan
- Network based – networks not the same as under 65
- Some plans require referrals
- Prior authorization on some services
- Need to know the basics of when people can enroll (the certification mods will help with that)
- Submitting an application (send to pinnacle or direct to the carrier
- Use the quote engine
- Know the different supplement plans and prices of them
Watch our webinar on how to have a face to face Medicare sales appointment – click the link below.
Click the link below to see our webinar on how to get ready for OEP.
Please contact us either by phone at (203)796-5403 or by email at [email protected] if you have any questions about Medicare insurance sales basics.