annual enrollment Archives

Prepare for AEP

By Ed Crowe | General Articles | 0 comment | 13 October, 2023 | 0

Prepare for AEP

Prepare for AEP early. As an independent insurance agent, Fall can be one of the most stressful times of the year due to the Annual Enrollment Period. But it doesn’t have to be! Although it will still be busy, there are four easy steps you can take now to ensure you’ll feel more prepared by October 15th. With these steps, you’ll be ready to capitalize on the biggest Medicare Advantage sales period of the year.

Prepare for AEP – Take time to review and choose carrier plans

This is the moment to take stock of your portfolio. Which carriers are you representing? Which of their plans have sold the best for you in the past? What do you have to offer new and returning clients? An agent should be familiar with the ins and outs of the plans they offer, including the benefits, costs, and applications so that you can meet the needs of your clients.

Prepare for AEP -Get ready to sell

Make sure that the basic requirements that you need to have met in order to legally and ethically sell Medicare Advantage have all been met. AEP is no time for surprises! Are your carrier certifications all completed? Is your AHIP exam completed and passed? Have you familiarized yourself with the new regulations from the Center for Medicare and Medicaid Services (CMS)? It is vital that you be in compliance with all certifications, exams, and regulations in order to sell Medicare products.

Prepare for AEP -Gather resources and marketing tools

AEP can go much more smoothly if you partner with an FMO, or a Field Marketing Organization. They often offer their agents and partners access to many free marketing tools and resources, like event planning, reimbursement for certain purchases that go towards marketing, compliance support, online portals for data analysis and platforms for call recording, and even teams of people whose job it is to support your sales.

Look at the data

This is a good time to look at the numbers from previous AEPs. Are there certain demographics you do particularly well with? Do you have some plans in your portfolio that haven’t sold well in a few years? Look for trends and patterns and use them to identify strengths and areas of improvement to focus your energy on during this AEP.

With these steps, AEP may seem much less stressful than previous years, and maybe even much more exciting.

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Tips for AEP 2024

By Ed Crowe | General Articles | 0 comment | 27 September, 2023 | 0

Tips for AEP 2024

Fall is on its way, and that means that the Annual Enrollment Period, or the AEP, is fast approaching. It’s often the busiest time of the year for agents and brokers. The vast majority of Medicare sales happen in that short 54 day period, and it can be stressful. Here are four questions to ask yourself and your agency before the AEP begins so you can optimize your success:

Am I following the new compliance rules?

As you surely know by now, the new rules from the Center for Medicare and Medicaid Services (CMS) are out and they have made some changes to their categorization of agents. All insurance agents and brokers are now considered Third Party Marketing Organizations (TPMOs). This comes with some new rules, including these disclaimers, which are required by law to be on all communications (website, emails, print, etc.).

If you are marketing fewer than all of the plans available in your area, use this one: “We do not offer every plan available in your area. Currently we represent [insert number of organizations] organizations which offer [insert number of plans] products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.”

If you are marketing all of the plans in the service area, use this one: “Currently we represent [insert number of organizations] organizations which offer [insert number of plans] products in your area. You can always contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) for help with plan choices.”

Am I recording phone conversations with clients eligible for Medicare?

This is another new regulation from CMS for this coming AEP season. All calls with people who are Medicare eligible must be recorded (not just sales calls). This is to protect both the agents and the clients. There are many programs available to help make this process as streamlined as possible, like CallVault.

Who have I had the most success helping lately?

It is a good time to reflect on the last few successful client interactions you’ve had. Is there something they have in common? Did you use a certain approach with all of them, or did they share a common thread? Are they all from a certain background, of a certain age, or did the lead come from a particular source? And, are the clients you’re having the most success with also the clients that you’re spending the most time and money to access?

What does my Medicare portfolio look like?

Do the Medicare Advantage plans, prescription drug plans, and Medicare Supplement Insurance plans (or Medigap) fulfill the needs of your clients? Are they finding these plans appealing, or are they looking for something you currently don’t carry? If the products you have are what the clients are looking for in your area, that makes sales all the more simple.

Licensed Agents

Click here to see what Crowe and Associates has to offer

Keep up with all of our current events by clicking here.

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Subscribe to our YouTube channel. We provide weekly training.

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Medicare AEP versus OEP

By Ed Crowe | General Articles | 0 comment | 23 August, 2023 | 0

Medicare AEP versus OEP: What’s the Difference?

Even for savvy clients, the enrollment process for Medicare can be confusing. One of the reasons for this is the multiple enrollment periods. The two most important time periods for both beneficiaries and agents to know the details of are the Open Enrollment Period (OEP) and the Annual Enrollment Period (AEP). Let’s compare the two:

AEP vs OEP – Open Enrollment Period

This is the time during the year when anyone who is eligible for Medicare can enroll in, change coverage from, or unenroll from a Medicare Advantage Plan or a Medicare Part D (or prescription drug) plan. This is the time when beneficiaries can make choices about their Medicare coverage without restrictions. It usually runs from January 1st to March 31st each year. To be eligible to enroll in a Medicare Advantage plan during OEP.

AEP vs OEP – Annual Enrollment Period

This is the time period that is specifically designed for beneficiaries who are enrolled in Medicare Advantage plans to change their coverage. It occurs from October 15th to December 7th each year. There are some restrictions as to what beneficiaries can do during this time period, but those actions that they can take include enrolling in a different Medicare Advantage plan, switching to or back to Original Medicare (parts A and B), or enrolling in a Medicare Part D plan (prescription drug coverage). In order to be qualified to do any of those things, the beneficiary must already be enrolled in a Medicare Advantage plan.

It is of vital importance that beneficiaries are aware of these timelines. If they are not aware of the time periods, missing OEP or AEP and failure to act can cause them to have lapses in their healthcare coverage or miss their opportunity to enroll in a different plan for the coming year.