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Introducing Hospital Indemnity plans designed specifically for Medicare Advantage members that cover Primary Care Doctor Visits, Inpatient Hospital Co-pays or Co-insurance, and much more. The average hospital stay for someone age 65 and over is 5.5 days. Would your average Medicare Advantage client be able to readily cover a $250 per day as a co-payment for days 1-5, totaling $1250?

Of the 14,500,000 people currently enrolled in a Medicare Advantage Program 56% of them are on a zero premium plan, many of which provide the member with a considerable monthly Part B premium giveback. With a Hospital Indemnity plan you can offer your clients a way to take their Medicare Advantage Part B premium giveback and apply it toward their plan to help them cover many of their most common co-payment with Medicare Advantage.

Benefits of a Hospital Indemnity Plan Include:

• Hospital Admission for Days 1-5
• Ambulance Transportation
• Emergency Room Coverage
• Laboratory & Radiology Benefits
• Skilled Nursing Facility Benefits
• Primary Care Doctor Office Visits (No Prior Hospital Stay Required)
• Annual Wellness Benefits
• Preventative Care Benefits

The Centers of Medicare and Medicaid Services (CMS) have said that a Hospital Indemnity Plan can be marketed and sold during a Medicare Advantage appointment as long as it was agreed on the Scope of Appointment form. You can also go back to your current clients with Medicare Advantage and do a basic Needs Analysis to see how the Hospital Indemnity Plan will benefit them and limit their out of pocket costs.

Not only will you be able to show your Medicare Advantage clients an affordable way to help protect themselves financially from large Maximum-Out-Of-Pocket (MOOP) liabilities, which can be as large as $6,700, but it’s also a great way to increase your commissionable income.

PSM offers several options for Hospital Indemnity. Plans from Sentinel Life, Equitable Life, GTL, and Heartland National are all available to be added to your portfolio. Please give your marketer a call at 1-800-998-7715 for more information on this versatile product for your senior insurance clients.

Article you may want to take into consideration for future product offering strategies

Coming Surge in Medicare Advantage?
Enrollment May Rise 50 Percent in Next 10 Years
By Alex Wayne and Alex Nussbaum – Bloomberg – May 16, 2013

Enrollment in the U.S.-funded Medicare plans run by UnitedHealth Group Inc., Humana Inc. and other insurers may rise 50 percent in the next decade rather than declining as predicted earlier, U.S. budget analysts said. Medicare Advantage plans for the elderly and disabled will swell to 21 million participants by fiscal 2023 from 14 million this year, the Congressional Budget Office said yesterday in its annual review of the federal budget. The CBO didn’t explain the revision from its previous estimate that enrollment would fall to 11 million and a spokeswoman didn’t respond to an e-mail. The reversal shows that a recent slowdown in health-care cost growth may be permanent, said Joseph Antos, a health economist at the American Enterprise Institute in Washington who has advised the CBO in the past. http://www.bloomberg.com/news/2013-05-15/unitedhealth-humana-may-see-surge-in-medicare-advantage.html

• There's a New Med Supp in Town - Learn More

There are a lot of benefits to working as a senior insurance agent. Frankly, the industry is booming, and with 10,000 seniors aging into Medicare every day it won’t be slowing down any time soon. If you are considering getting into insurance or switching from a different niche of the industry, there are some things you should keep in mind for best chance at success.

Five key "truths" about our industry:

1. You are a salesperson. It’s important to accept that as a salesperson you need to be good at selling. Obviously, this doesn’t mean selling a senior a product they do not need or cannot afford at that time. It means becoming their trusted advisor and educating them to choose the products that will help them live comfortably from the beginning of their retirement to when their needs change as they continue to age.
   
   
2. You are running a business. You are now the owner of your own small business and you are your only job security. This might seem scary at first – or it might seem liberating – however, your highest priority is going to be making a profit and staying in business. Three things that will help you are prospecting, closing, and servicing your clients. The majority of your time day in and day out should be spent focused on these activities.
   
   
3. You cannot "wing it." You need to have a plan to follow every day; the number of calls you need to make and a script ready for every call. This way you can insure you say exactly what you need to in the most efficient way possible. Remember to practice your scripts until they come naturally and don’t sound canned or rushed. This will help you to increase your ratio of prospects turning into clients.
   
   
4. You have to work hard. The Med Supp business is booming but it’s also competitive. You will need to push yourself harder than everyone else. As Zig Ziglar, a famous motivational speaker once said, "The harder you are on yourself, the easier life will be on you." If you put in the hours and are willing to do the work it takes, you will find yourself poised for a successful venture in the industry.
   
   
5. You must take 100% responsibility for your business. If your numbers aren’t where you want them to be, own up to them. See that as a warning sign and make the necessary changes. Maybe you need to start marketing online with a website or selling Medicare Supplements over the phone. Instead of making excuses outside of yourself take control of your business and become in control of your success.

PSM is your partner for success in the senior insurance market. Build your portfolio with everything from competitive Medicare Supplements to Final Expense plans to Hospital Indemnity, Long Term Care and Annuities. If you find yourself stuck or need assistance, please call our marketers at 1-800-998-7715. We are here to keep you on track and help you navigate your way into and through this competitive and lucrative market.

Source: LifeHealthPro

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By building an effective brand for your business you can separate yourself from the competition in this industry. Creating an effective brand is one that convinced people to buy “you” before they step foot into your office or talk to you over the phone. Determine your brand in your community and see if people already know who you are. If they do, what is the brand they identify with your name? Does is help to separate you from the competition or does it lump you in with everyone else?

Here are some ways to develop a positive brand that allow you to stand apart from your competition:

• Old-fashioned values. This means treating people with respect; explaining things in a way people can understand, and listening intently so you can truly hear your client’s needs. You are always focused on your client’s agenda, not your own. If you say you’re going to do something you do it, and if you make a mistake, take responsibility and find a solution as soon as possible.
  
  
• Expert knowledge. Be among the absolute best at what you do. Study the art of our craft and become an expert in the field. Also, it’s important to know the products you represent. It’s been said the products you recommend will only account for 10 percent of your success in gaining new clients. So you should know 100 percent of that 10 percent.
  
  
• Genuine understanding. Since in the Medicare Supplement field you will be working almost exclusively with either retirees or people getting ready to retire it’s important to understand what your clients are going through. Become an expert in your niche. You don’t need to be jack-of-all trades but rather a specialist in your field. Genuine understanding can only be demonstrated over time by having a passion for serving the needs of your clients.

An effective message and brand along with a great marking plan can lead to the successful practice you’ve been working toward. If you have any questions, please give your marketer a call at 1-800-998-7715.

Source: LifeHealthPro

• There's a New Med Supp in Town - Learn More
• 14.5 Million MA Members - Over Half are on a Zero Dollar Premium Plan - Learn More

Combined Insurance Medicare Supplement is pleased to begin offering agents the opportunity to use their new E-App Platform when submitting your Med Supp business.

Benefits of using the Combined Med Supp E-App:

• Expand your client base
• Save time and gas
• Reduce your daily overhead
• Eliminate mistakes and unnecessary paperwork
• Get paid quicker

For contracted agents, in order to get started selling with Combined Insurance’s E-App today, simply login to the Combined agent portal at www.aiatpa.com. Please contact your marketing representative if you need assistance in accessing the agent portal.

Also, to help you get started Combined Insurance has provided a FAQ and Quick Start Guide to make the process quick and efficient.

Combined Insurance has recently filed their competitive Medicare Supplement in the following states: GA, OH, MO, NJ, and PA.

Additional Approved States include: AL, AZ, IL, IN, KY, LA, MS, MT, NC, OK, SC, SD, TN, TX, and WV.

Not yet appointed with Combined? Instantly download free sales materials and rates here.

For any other questions on getting contracted with Combined or getting started using the E-App please contact us at 1-800-998-7715.

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For the month of April, Cigna Medicare Supplement has put a Visa Gift Card contest in place for their active writing agents. The ground rules are to sell as many ARLIC Medicare Supplement policies as possible during the entire month of April and win a Visa Gift Card for applications issued within the month. Gift cards will be given in the following increments:

Base Hit (7 Apps) = $200
Triple (10 Apps) = $300
Home Run (20 Apps) = $500

Go Here for the Official Rules.

Once appointed, you will find all your equipment on AgentView. From applications to brochures and even EXPRESS APP, AgentView is your coach to a GRAND SLAM.

Along with competitive rates, Cigna has several benefits for their agents to take advantage of including High Commissions, a Paperless Application Process, Clean Case Issue in 2-4 days, and Daily Advances. Now with the addition of the Visa Gift Card contest, it’s an even better time to get contracted and start selling Cigna to your senior clients.

Cigna Medicare Supplement is currently available for sale in AL, IA, IL, KY, LA, MS, MT, NE, NC, NM, NV, OK, RI, SC, SD, TX, and WV. New states are becoming available continuously and rates have been filed in AK, AZ, AR, CA, CO, CT, FL, GA, IN, HI, KS, MA, MD, ME, MO, ND, NH, NJ, OH, PA, TN, UT, VA, VT, WA, and WY. With this kind of national availability, Cigna is an ideal Med Supp to use to sell Medicare Supplements by phone.

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• Hospital Indemnity Plan Designed Specifically for Medicare Advantage Members - Learn More

On Monday the Centers for Medicare & Medicaid Services scrapped the proposed 2.2 percent cut to Medicare Advantage plans. America’s Health Insurance Plans (AHIP) was against the decrease all along, launching a campaign lobbying against it which included television ads, studies defending Medicare Advantage, and a letter-writing campaign with members of Congress. AHIP argued that seniors and those with disabilities enrolled in these plans would face higher premiums, reduced benefits and some loss of coverage options if these cuts were put into effect.

Instead, the Medicare agency announced that it would offer a 3.3 percent payment increase for next year. Jonathan Blum, CMS acting principal deputy administrator explained, "The policies announced today further the agency’s goal of improving payment accuracy in all our programs, while at the same time ensuring program stability and preserving beneficiary choice."

AHIP praised the agency for avoiding what it termed a "crushing blow" to Medicare Advantage beneficiaries. President and CEO of AHIP, Karen Ignagni, stated "CMS has taken an important step to help stabilize Medicare Advantage at a time when the program is facing significant challenges." She continued by saying that AHIP will continue to work with policymakers in both parties "to strengthen this critically important part of Medicare that provides high-quality, affordable coverage to more than 14 million seniors and people with disabilities."

This change is seen as a huge victory for health insurance lobbyists who worked very hard to reverse these potentially devastating cuts. However this is hardly the end of the Medicare Advantage trial. Medicare Advantage plans are still on the road to several major long-term alterations in the next few years. We will just have to wait and see which ones actually go into effect.

Source: Benefitspro.com, National Review

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Due to the proposed tax included in the health care reform, those seniors in Medicare Advantage will be facing a $50-$90 per month increase in premiums and/or reductions in benefits next year. This week, new Oliver Wyman data released by America’s Health Insurance Plans’ (AHIP) Coalition for Medicare Choices (CMC) provided a breakdown of which states would be most impacted.

Seniors in Louisiana, New Jersey, New York and Texas will be hit hardest with their plans increasing $80-$90 a month. California seniors are expected to face a $70-$80 a month increase on their premiums. Most other states will see increases of $50-$60 a month with North Dakota seeing the lowest increase of just $30-$40 a month in premiums.



In the past week 120 members of Congress have expressed their concerns about the impact the new cuts will have on seniors. Twenty-two Senators sent a bipartisan letter to the CMS about their concern saying "we are concert that the proposals could result in reduced access for our constituents who are enrolled in Medicare Advantage. Plans have informed us that they may exit certain markets as a result of CMS’ proposal." The ninety-eight members of the U.S. House of Representatives’ letter stated, "The assumption on the SGR is particularly problematic because it almost certainly will turn out to be wrong and it directly translates into lower funding to support the health benefits of the 14 million Medicare beneficiaries who currently are enrolled in MA plans."

Meanwhile, AHIP has offered a recommendation to stabilize the program and avoid significant disruption to seniors enrolled in Medicare Advantage. The 2014 MA payment rates are scheduled to be finalized April 1.

Precision Senior Marketing will be closed after 1pm Friday, March 29 for the Easter holiday weekend. Regular 8am-5pm CDT hours will resume Monday, April 1. We wish you and your loved ones a happy holiday. We appreciate your business and the opportunity to serve your needs.

Source: Marketwatch, MedicareChoices.org

• Combined Ins - Now Offering 24% Commission - Learn More
• Equitable Life Med Supp Now Available in OR, ND, SC - Learn More
• New Omaha Insurance Med Supp release - TX, OK, IA and VA - Learn More

When you think about doubling your sales you most likely think that it would take twice as much time and money spent prospecting and selling. However, according to Donal Daly, CEO of TAS Group, an agency focused on helping sales professionals be more productive and effective, that’s not always the case. They’ve identified that you can double your sales by making small incremental improvements to your sales process. Here’s what you can do to work toward doubling your sales:

1. Pre-qualify your sales leads 20% more accurately. By purchasing higher quality leads you are less likely to be calling the people not in your target demographic. Take a look at what areas you have been successful and where you haven’t been doing as well. Create a quick profile of your ideal customer and target those specifically.
   
   
2. Disqualify your sales leads 20% faster. At this point in your career you’ve learned to identify pretty quickly which prospects don’t need your product or don’t have the money to afford it. Don’t waste time with those false opportunities! Politely end the conversation as quickly as possible and move on to the next prospect.
   
   
3. Close 20% more of your opportunities. Obviously, the more opportunities you close the more customers you will have, and thus the more money you will be making. However, where doubling or tripling your close rate is probably impractical right away, anyone can make a 20% improvement. The easiest way to do this is to stop trying to sell and instead listen for your “go-ahead signals” during conversations with prospects. Put aside a fear of failure and ask for the business.
   
   
4. Increase the average value of each deal by 20%. There is a fixed amount of time and money connected to each of your sales efforts. Making two deals for $300 each takes far more time and effort than one deal for $600. Therefore, it’s important to constantly be aware of additional ways that you can help the customer. Maybe they might also be interested in a Final Expense or a Hospital Indemnity product during a Medicare presentation. This is not upselling; it’s providing a better service to your client.

Then numbers work out like this:
How much you’re selling now: $100k
After eliminating 20% of your bad leads: $120k (better use of time)
After disqualifying 20% more non-opportunities: $144k (better time usage)
After a 20% increase in your conversion rate: $173k
After a 20% increase your average total sales could be: $207k

For any questions or further discussion on improving your sales or the best lead companies feel free to contact your PSM marketer at 1-800-998-7715.

Source: Inc.

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No matter if you are just getting into the senior market or have been in the industry for years, selling Medicare supplements or med supp over the phone is a great way to expand your business. When you prospect over the phone, you are able to broaden your sales horizon beyond your immediate driving area and allow yourself a virtually unlimited selling territory with no travel requirements. Therefore, you can connect with an entirely new market of qualified prospects, no matter the distance.

By tapping into this national pool of prospects you’ll see increased productivity through your ability to “see more people” in your normal workday. Having this freedom will additionally allow you to cherry pick your territory by marketing to areas where you know your products are the most competitive. You’ll reduce your daily overhead through savings on gasoline, tolls and parking, and also save time through the elimination of unnecessary paperwork further increasing overall productivity and efficiency.

When it comes to the sales process, a few options are available for completing an application over the phone. Most popular to agents, many carriers have developed electronic application (e-app) or telephonic application technology to speed up and simplify the process. Among these carriers you’ll find Mutual of Omaha, Cigna Medicare Supplement Solutions, Equitable Life & Casualty, Heartland National, Combined Insurance of America, and Sentinel Security Life.

The senior insurance market is exploding and selling Medicare supplements by phone will help you use technology to your advantage to reach prospects virtually anywhere in the United States, from the comfort of your work space. For more tips on selling med supp by phone, please contact your marketer at 1-800-998-7715.

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This week America's Health Insurance Plans (AHIP) warned that the potential 2.3 percent reduction in Medicare Advantage payments proposed by the Department of Health and Human Services (HHS) combined with PPACA's payment cuts will result in benefit reductions and premium increases of $50 to $90 on average. These cuts would affect 14 million seniors which is roughly 28 percent of all Medicare beneficiaries. An analysis prepared for AHIP states that the effect of the changes from both PPACA and the new payment cuts will result in an estimated 6.9 to 7.8 percent cut to Medicare Advantage plans in 2014.

The cuts were proposed last week by the Centers for Medicare & Medicaid Services (CMS). New rules will be published by CMS on April 1, 2013. Subsidies will be slashed and access to the report will be severely restricted, according to the AMAC industry analysts.

The analysis was made by actuaries at Oliver Wyman and was prepared for AHIP. The Oliver Wyman report states, "Virtually all of the 14.1 million Medicare beneficiaries are likely to be affected by these changes, either through increased premiums, reduced benefits, or plan exits from local markets."

The major impact of these changes will reduce Medicare Advantage in 2014 by more than eight percent or nearly $11 billion. Understandably, health insurance stocks reacted to the news negatively and took a hit. The costs per person for Medicare Advantage plans are a bigger drop than many analysts had anticipated.

So far in 2013, only four percent of PPACA's $200 billion in Medicare Advantage cuts have gone into effect. However, the Congressional Budget Office (CBO) projects that, after it's fully phased in, the cuts alone will result in three million less people in the program. The PPACA's new health insurance tax will begin in 2014 and Oliver Wyman has previously estimated that this tax alone will cause approximately $220 in higher out-of-pocket costs for seniors, reduced benefits for next year, and $3,500 in additional costs of the next 10 years.

AHIP contrasted the cuts by releasing projections for medical cost increasing three percent. Karen Ignagni of AHIP stated "The proposed changes to Medicare Advantage payments are a crushing blow to the millions of seniors and people with disabilities who count on this critically important part of Medicare."

Source: LifeHealthPro

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