Medicare Sales vs Educational Events
There are strict guidelines for how to ethically market and sell Medicare insurance plans. According to the Center for Medicare and Medicaid Services, the Marketing Guidelines reflect their interpretation of the marketing requirements and related provisions of the Medicare Advantage and Medicare Prescription Drug Benefit rules. Regulations apply to both types of event. In addition, different regulations apply to how each can be marketed. Learn the differences of Medicare sales vs educational events.
Medicare Sales vs Educational Events: Medicare Educational Events
These events are purely for education and communication. This is not a sales event. However, for many agents and agencies, this is a good time to get to know their prospective clients and teach them about what kind of services they can provide. Most of the people who attend these educational events are future beneficiaries, current beneficiaries, and their caregivers, all looking for information to make the best informed decisions they can about their healthcare.
Agents may not discuss specifics of plans during educational events. However, the are permitted to hand out generic marketing materials, and even collect the contact information of interested parties. Set up all sales appointments for a later time. This is a hard and fast rule. Educational events must be advertised as education, as well. Snacks, promotional materials, business cards, and education materials are all encouraged to be given out or displayed during educational meetings. Agents are allowed to answer questions that are asked, but may not provide information beyond those answers related to sales. These educational meetings must be in a group format, and should not be one on one.
Medicare Sales vs Educational Events: Medicare Sales Events
Medicare Sales Events are events in which the purpose is to discuss plan-specific information and enroll beneficiaries in a Medicare plan. There are typically two categories of sales events: formal sales events and informal sales events. Formal sales events entail presenting plan-specific information to an audience. Agents present Informal sales events at a kiosk or a table. These present information at an individual’s request, not to a captive audience. The marketing materials for sales events may include things like carrier benefits, benefit structures, premiums, cost-sharing, and comparisons to other plans, as the purpose of these events is to eventually collect enrollment applications.
Just like an educational event, clearly advertise sales events as such. Additionally, the rule includes both informal and formal events. Prohibited marketing tactics include requiring attendees to sign in or provide contact information. Prohibited items include full meals or subsidized meals, give away rebates and cash prizes. Do not discuss non-healthcare related products. Prizes etc are prohibited at Medicare sales events. This rule maintains the ethics of the agents and the agencies that provide the services advertised.
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