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Ehealth: Medicare Advantage Premiums Fall 33% in Q1

Posted by www.psmbrokerage.com Admin on Thu, May 30, 2019 @ 03:35 PM

Medicare Advantage Premiums Fall 33 in Q1

 

When zero-dollar premium plans were removed, costs still dropped by 13%, according to a survey from eHealth.

Average Medicare Advantage (MA) premiums dropped by more than 30% in Q1 2019, according to data released by eHealth on Thursday morning.

The health insurance exchange reported a 87% year-over-year increase in the amount of MA and Medicare Part D applications received during the open enrollment period (OEP) that lasted from January to March.

2019 marked the first year that consumers enrolled in a MA plan could switch to a different MA plan during OEP or leave MA and supplement their original Medicare coverage with a Part D prescription drug plan.

Between 2011 and 2018, consumers weren't able to switch to a MA plan outside of the fall OEP unless they had "a circumstance that allowed you a Special Enrollment Period."

Despite the opportunity for additional coverage options, including those with lower average monthly premiums, 51% of respondents did not know about OEP prior to shopping for a new plan, according to eHealth.

Those surveyed gave several responses for why they switched to a new Medicare plan, including unhappiness with a former insurer, increased copays, doctor leaving network, and changes to drug coverage.

During the OEP, the average monthly for MA plans was $8, down from $12 in Q1 2018, while the average out-of-pocket limits decreased 11%, from $5,815 to $5,164.

Image: www.Canva.com

Additional Updates:
 

Tags: Medicare Advantage

Lyft Hails Medicare Advantage As Next Profitable Ride

Posted by www.psmbrokerage.com Admin on Thu, May 30, 2019 @ 03:09 PM

Lyft Hails Medicare Advantage As Next Profitable Ride


Lyft is signing new contracts and targeting a booming number of Medicare beneficiaries choosing private Advantage plans as a lucrative new growth area for the ride-sharing company.

New rules that allow health insurance companies to include more supplemental benefits in their Medicare Advantage plans is opening the door to Lyft and rivals to have more of their services woven into benefits for next year. Health plan bids to participate in Medicare Advantage for 2020 are due Monday, June. 3.

"We expect to be working with the majority of the largest MA plans by 2020,” said Lyft’s vice president of healthcare Megan Callahan, who was hired last year to lead the company’s growing healthcare businesses.

Medicare Advantage plans contract with the federal government to provide extra benefits and services to seniors, such as disease management and nurse help hotlines, with some even providing vision and dental care and wellness programs.

But the ability of Medicare Advantage plans to integrate ride-sharing services into bids is taking off given new rules announced last year  “reinterpreting the standards for health-related supplemental benefits in the Medicare Advantage program to include additional services that increase health and improve quality of life.”

As health insurers move away from fee-for-service medicine to value-based care and population health models that make sure patients are getting quality care in the right place and at the right time, ride-sharing companies say they can have a key role.

Source: https://www.forbes.com/sites/brucejapsen/2019/05/30/lyft-hails-medicare-advantage-as-its-next-profitable-ride/#6b5674cc41d1

Image: Lyft

 
Additional Updates:
 

Tags: Medicare Advantage, Medicare, Lyft

New Great Southern Life (GSL) Med Supp States Coming Soon - AR, AZ, ID, MS, NE, NV, OH, OK, UT and WV

Posted by www.psmbrokerage.com Admin on Wed, May 29, 2019 @ 05:13 PM


Americo is excited to announce that they will be releasing new Medicare Supplement premium rates through their subsidiary company, Great Southern Life (GSL) in 10 new states.

Beginning June 3, 2019, GSL Medicare Supplement will be available in AR, AZ, ID, MS, NE, NV, OH, OK, UT and WV.

If you are already contracted to sell Americo Financial Life (AFL) Med Sup, there's nothing you need to do. You are ready to sell GSL Med Supp, use your current Americo Agent number. Rates are now available on the CSG Quoting Tool. If you have Americo selected as a "my company", on the CSG quoting tool, you will also need to add Great Southern Life to your "my company" list. Note that AFL Med Supp rates will no longer be available in these 10 states effective June 3rd.

Application packets, marketing materials, and sales tools are available on Americo.com and AmericoMedSup.com. The GSL eApplication will be available on June 3, 2019.

 Fore more information about GSL Medicare Supplement, see this helpful Information Sheet. If you are not appointed with Americo / GSL, you can request contracting details here.

Additional Updates:
 

Tags: americo medicare supplement, GSL Med Supp, Great Southern Life Medicare Supplement

Mutual of Omaha: Earn marketing credits for Dental business through September

Posted by www.psmbrokerage.com Admin on Wed, May 29, 2019 @ 02:57 PM

Earn June 1 - September 30

For a limited time, you can earn marketing credits just for placing your dental insurance business with Mutual of Omaha.

You can earn the following credits for your issued dental applications for up to 600 total credits:

  • 30 credits for 1-2 issued dental apps
  • 60 credits for 3-4 issued dental apps
  • 90 credits for 5-6 issued dental apps
  • 150 credits for 7 or more issued apps

Each marketing credit gives you $1 to help build your Mutual of Omaha Medicare supplement business. Use your credits for things like:

  • Leads
  • Postage for mailings
  • Office supplies that allow you to use our electronic tools (i.e., computer, laptop, tablet or smart phone)
  • Advertising, and more

You'll receive monthly emails - July through October - with your current balance. You may redeem your credits at any time during the program. All credits must be redeemed by December 1.

PDF flyer

Not appointed to sell dental insurance with Mutual? Request details here

Additional Updates:
 

Tags: mutual of omaha, dental plans

Dental Care Costs in Retirement

Posted by www.psmbrokerage.com Admin on Wed, May 29, 2019 @ 02:48 PM


The vast and growing untapped source of service and sales 

Oral health is an integral part of overall health, but its importance to overall health and well-being often goes unrecognized. Untreated oral health problems can lead to serious health complications. Having no natural teeth can cause nutritional deficiencies and related health problems. Untreated caries (cavities) and periodontal (gum) disease can exacerbate certain diseases, such as diabetes and cardiovascular disease, and lead to chronic pain, infections, and loss of teeth. Lack of routine dental care can also delay diagnosis of conditions, which can lead to potentially preventable complications, high-cost emergency department visits, and adverse outcomes.

Medicare, the national health insurance program for about 60 million older adults and younger beneficiaries with disabilities, does not cover routine dental care, and the majority of people on Medicare have no dental coverage at all. Limited or no dental insurance coverage can result in relatively high out-of-pocket costs for some and foregone oral health care for others. This brief reviews the state of oral health for people on Medicare. It describes the consequences of foregoing dental care, current sources of dental coverage, use of dental services, and related out-of-pocket spending.

Key Findings

  • Almost two-thirds of Medicare beneficiaries (65%), or nearly 37 million people, do not have dental coverage (Figure 1).


  • Almost half of all Medicare beneficiaries did not have a dental visit within the past year (49%), with higher rates among those who are black (71%) or Hispanic (65%), have low incomes (70%), and are living in rural areas (59%), as of 2016.4
  • Almost one in five Medicare beneficiaries (19%) who used dental services spent more than $1,000 out-of-pocket on dental care in 2016.


PSM offers our agent a wide range of dental companies and plans
for our agents to represent. The need is clearly there, so don't miss out on helping your clients and put a little extra cash in your pocket as well.

Image: www.Canva.com

Additional Updates:
 

Tags: dental plans

Medicare Advantage and Part D Commission Rates

Posted by www.psmbrokerage.com Admin on Wed, May 29, 2019 @ 01:48 PM

Contract Year 2020 Agent and Broker Compensation Rate-1

Medicare Advantage and Part D Commission Rates


DATE: 
May 24, 2019

TO: Medicare Advantage Organizations, Prescription Drug Plan Sponsors, Section 1876 Cost Plans, and Medicare-Medicaid Plans

 FROM: Kathryn A. Coleman / Director

SUBJECT: Contract Year 2020 Agent and Broker Compensation Rate, Referral/Finder’s Fees, Submissions, and Training and Testing Requirements

This memorandum provides contract year (CY) 2020 compensation and referral/finder’s fee limits for agents and brokers, directions for submitting amounts into the Health Plan Management System (HPMS), as well as training and testing requirements.

Compensation Rates and Referral/Finder’s Fees for CY 2020

As provided in 42 C.F.R. §§422.2274(b)(1) and 423.2274(b), the compensation amount an organization pays to an independent agent or broker for an enrollment must be at or below the fair market value (FMV) cut-off amounts published yearly by the Center for Medicare and Medicaid Services (CMS).

42 C.F.R. §§422.2274(h) and 423.2274(h) states that referral/finder’s fees paid to independent, captive, or employed agents may not exceed a CMS specified amount. Additionally, referral/finder’s fees paid to independent agents/brokers must be included in FMV for that CY.

The CY 2020 FMV cut-off amounts for all organizations and referral/finder’s fees are as follows:

2020 MA PAY RATES-1


Agent Fair Market Value Payment History:

Year

National

CT, PA, DC

CA, NJ

PR

PDP

2015

408/204

461/230

510/255

280/140

56/28

2016

429/215

483/242

536/268

294/147

63/32

2017

443/222

498/249

553/277

304/152

71/36

2018

455/228

511/256

567/284

312/156

72/36

2019

482/241

542/271

601/301

331/166

74/37

2020

510/255

574/287

636/318

350/175

78/39


NOTE: The FMV amounts for CY 2020 may be rounded to the nearest dollar. The Initial Year amount is the maximum allowable amount that organizations may pay for enrollments during compensation cycle-year 1.

The renewal amount is the maximum allowable amount that organizations may pay for enrollments during compensation cycle-years 2 and beyond.

Compensation Rate Submission for CY 2020

As in past years, all organizations must inform CMS via HPMS whether they are using employed, captive, or independent agents.

Organizations that use independent agents must provide the initial and renewal compensation amount or range of amounts paid to these agents.

Additionally, if an organization pays referral/finder’s fees, the organization must disclose the amount. CMS has provided instructions for data entry in the HPMS Marketing Module User Guide.

Organizations must submit their agent/broker information in the HPMS Marketing Module between June 1, 2019 and July 26, 2019, 11:59 pm EST. Please note that CMS does not consider the submission process complete until the organization’s CEO, COO, or CFO has completed the attestation in HPMS.

Organizations that fail to submit and attest to their agent and broker compensation data by July 26, 2019 will be out of compliance with CMS requirements.

Organizations will not be able to make changes to those submissions after the July 26, 2019 deadline.

CMS expects organizations to keep full records documenting that they are updating compensation schedules and paying agents and brokers according to CMS requirements.

Please note that CMS will make the CY 2020 organization-submitted compensation information available for the public to view on www.cms.gov prior to the annual election period for CY 2020.

Curricula for Training and Testing Agents and Brokers for CY 2020

Regulations at 42 C.F.R. §§422.2274 and 423.2274 require that organizations train and test all agents and brokers selling Medicare products, including employees, subcontractors, downstream entities, and/or delegated entities annually on Medicare Parts A, B, C, D, and plan specific information.

CMS further requires that all agents and brokers obtain an 85% passing rate on the test.

In order to ensure the quality of agent and broker training and testing programs, CMS annually provides minimum training and testing requirements to organizations.

Organizations should review these requirements before developing their own agent and broker training and testing programs to ensure compliance with CMS requirements.

CMS permits and encourages organizations and third-party training and testing vendors to include other relevant topics, in addition to the minimum required elements.

PDF Link to announcement

Image: www.Canva.com

Additional Updates:
 

Tags: Medicare, Part D, medicare advantage enrollment,

Spending on Pharmaceuticals to Soar past $370B in 2019

Posted by www.psmbrokerage.com Admin on Wed, May 29, 2019 @ 10:44 AM


Pharmaceutical Spending Will Reach $370B in 2019

Pharmaceutical cost-1

 

U.S. pharmaceutical spending is expected to grow by 2.5% in 2019, topping $370 billion, while overall healthcare spending is projected to grow by 4% and reach $3.6 trillion, according to a Fitch Solutions report released Monday.

By 2023, Fitch Solutions estimates pharmaceutical sales will top $420 billion, account for nearly 1.7% of the national GDP, and 9.7% of overall health expenditures.

Overall healthcare spending is expected to reach $4.3 trillion during the same period of time.

Source: https://www.healthleadersmedia.com/finance/pharmaceutical-spending-top-370b-2019

Additional Updates:
 

Tags: Medicare Part D, Part D, Prescription Drugs

Medicare Supplement Enrollment Up Nearly 4% in 2018

Posted by www.psmbrokerage.com Admin on Wed, May 22, 2019 @ 10:40 AM


The rapidly expanding U.S. senior population continues to present increasing opportunities for health insurers offering Medicare Supplement plans. Many leading managed care organizations, Blues plans, regional plans, and multiline carriers compete in the Medicare Supplement (also known as Med Supp or Medigap) arena. As of December 31, 2018, the Med Supp market experienced yet another year of membership growth.  Based on performance data filed in annual financial statements from the NAIC (National Association of Insurance Commissioners), enrollment in Medicare Supplement plans was almost 13.6 million as of December 31, 2018, up 3.95% year-over-year. 

Mark Farrah Associates (MFA) identified 196 distinct carriers that filed annual data with the NAIC.  Breakdowns of in-force policies show that carriers issued policies to almost 5.3 million new members written in the last three years. Carriers reported an aggregate of 8.3 million members covered by older policies that had been issued prior to the year 2016. This brief provides an overview of the Medicare Supplement market with insights about competitive positioning and standardized plan type preferences.

 


Medicare Supplement carriers added approximately 517,000 covered lives to their portfolios between December 31, 2017 and December 31, 2018.  About 17% of this market growth is attributed to UnitedHealth’s membership increase. Among standardized plans A-N, Plan F covers the annual Medicare Part B deductible and offers the most comprehensive benefits. Per the graph below, Plan F enrolled almost 7.05 million Med Supp members and accounted for approximately 52% of the market.  However, this number decreased by 15,000 year-over-year. 

This decline in Plan F membership is largely due to a provision in the Medicare Access and CHIP Reauthorization Act of 2016 (MACRA). Beginning January 1, 2020, Plan F will no longer be an option for newly eligible Medicare enrollees, whereby supplemental plans covering the Part B deductible can no longer be purchased. Beneficiaries who continue to pay their existing Medicare Supplement Plan F premium will not lose that coverage. This policy change has begun the shift in growth from Plan F into Plans G and N which are widely seen as viable alternatives to Plan F.  Both Plans G and N continued to experience year-over-year increases with Plan G notably enrolling 645,000 new members; a growth rate of 39%.


The Medicare Supplement market remains an attractive line of business for carriers.  Med Supp plans collectively earned approximately $31.3 billion in premiums and incurred $24.7 billion in claims during 2018, up from 2017.  The aggregate loss ratio (incurred claims as a percent of earned premiums) was 78.9% in 2018, an increase from 77.7% in 2017.


The top 10 companies command almost 69% of the Med Supp market with approximately 9.4 million members. UnitedHealth, with its longstanding contract with AARP, continues to hold 34% of the market with more than 4.5 million members. Mutual of Omaha ranked second with 10% market share and approximately 1.4 million members as of December 31, 2018. CVS, formerly Aetna, supplanted Health Care Service Corporation (HCSC) as the third largest plan in 2018, with 702,000 enrolled.   Anthem remains in the fifth ranking position for market share with over 590,000 members and Cigna experienced strong growth, increasing its membership by 129,000 members, with over 560,000 enrolled. 


With over 65 million Medicare beneficiaries residing in the U.S., Medicare Supplement policies continue to be a viable option for seniors, as these plans can help pay some of the medical costs not covered by Original Medicare. Therefore, insurers continue to diversify their senior market portfolios to leverage opportunities across all product lines and expand product options in order to keep up with industry trends. 

Source: https://www.markfarrah.com/mfa-briefs/medicare-supplement-enrollment-up-nearly-4-in-2018/

Image: www.Canva.com

Additional Updates:
 

Tags: Medicare, Medicare Supplement

Coming Soon to a TV Near You: Drug Prices

Posted by www.psmbrokerage.com Admin on Tue, May 21, 2019 @ 11:37 AM

Drug Prices - TV-1


The Centers for Medicare & Medicaid Services (CMS), the agency that oversees the Medicare and Medicaid programs, have put a rule in place that will change the look of television ads for prescription medications. Last week, CMS announced that most drugs that are covered by Medicare or Medicaid must soon include pricing information in their TV ads.
 
The prices ads must include are the so-called “list” prices for the medications. In some ways, the list price for a drug is like the Manufacturer’s Suggested Retail Price, or MSRP, from car ads. Just as with cars, some consumers do pay the list price. If they are uninsured, for example, they may have no choice but to pay the list price. Or if they have a high deductible, they may be paying the list price until their coverage kicks in.

Read the press release about the new rule

Read Medicare Rights’ comments on the proposed rule

Source: https://blog.medicarerights.org/coming-soon-to-a-tv-near-you-drug-prices

Image: www.Canva.com

Additional Updates:
 

Tags: Medicare, Prescription Drugs

Analysis of the 2019 Medicare Trustees' Report

Posted by www.psmbrokerage.com Admin on Thu, May 16, 2019 @ 11:18 AM

Analysis of the 2019 Medicare Trustees' Report


The Medicare Trustees have released their 2019 report, which makes projections for Medicare spending and revenue for the next 75 years. The Trustees expect Medicare spending to grow significantly over the next few decades. The Hospital Insurance trust fund for Part A is projected to be exhausted in seven years, and continued growth faster than the economy in Parts B and D is expected to put pressure on beneficiaries and the budget.

Highlights of the report include:

  • The Trustees project Medicare spending will increase from 3.7 percent of Gross Domestic Product (GDP) in 2018 to 5.0 percent in 2028 and 5.9 percent by 2040. Spending will continue to increase after that but more slowly, reaching 6.5 percent in 2090.
  • Spending growth is driven by both increased enrollment and per-person spending. Medicare enrollment is expected to grow by 27 million -- from 60 million to 87 million -- between 2018 and 2040, while per capita-spending is expected to grow faster than the economy over the next quarter century.
  • Each part of Medicare will grow: Part B experiences the largest increase as a percent of GDP while Part D is the fastest-growing part of the program.
  • The HI trust fund is expected to be insolvent by 2026 (unchanged from last year). The trust fund's 75-year actuarial shortfall is 0.91 percent of taxable payroll, meaning it would take about that much of a payroll tax increase or an equivalent amount of spending cuts to maintain solvency over 75 years.
  • Overall, the Trustees' report shows modestly higher spending relative to last year's report. Medicare spending will reach 6.5 percent of GDP by 2090 compared to 6.2 percent in last year’s report.
  • Medicare Advantage (MA) - private plans that provide Medicare coverage - is expected to continue to play a growing role in Medicare. MA enrollment is expected to increase from 37 percent of Medicare enrollment in 2018 to 40 percent by 2028, and spending will rise from 31 to 37 percent of Medicare spending.
  • An illustrative alternative scenario assuming certain payment policies the Medicare Chief Actuary views as unsustainable are rolled back would result in Medicare spending rising much faster, to 8.8 percent of GDP by 2090.

The Trustees show Medicare spending is projected to increase significantly as a share of GDP over the next few decades, with each part of Medicare contributing to the cost growth. In addition, lawmakers face a near-term financial challenge as the HI trust fund will be exhausted by 2026, just seven years from now. Lawmakers need to undertake reforms to Medicare to contain spending growth and ensure HI solvency.

Medicare Spending Is Growing Rapidly

As a share of GDP, gross Medicare spending is expected to grow significantly over the long term, especially over the next few decades.

The Trustees project gross Medicare spending will rise from 3.7 percent of GDP in 2018 to 5.0 percent in 2028 and 5.9 percent by 2040. Spending will continue to increase after that but more slowly, reaching 6.5 percent by 2090.

Medicare Part A is largely financed by a payroll tax, and other parts of Medicare are partially financed through beneficiary premiums. Net of these and other funding sources, spending is lower but still expected to grow significantly from 1.6 percent of GDP in 2018 to 2.6 percent in 2028 and 3.3 percent in 2040 before growing more slowly to 3.5 percent by 2090.

fig 1 medicare trustees 2019


The aging of the population is the primary driver of Medicare cost growth, particularly over the next few decades. The number of Medicare beneficiaries has already grown from 40 million in 2000 to 60 million in 2018 and is projected to grow by another 27 million (to 87 million) by 2040.

Per-capita increases in health care spending also play a role in Medicare spending increases, as nominal per-person Medicare spending is expected to increase by 65 percent – from $13,665 to $22,546 – between 2018 and 2028. This increase is larger than the 56 percent growth in the economy that is expected to occur over the same time period.

All Parts of Medicare Are Growing

The Medicare program comprises three main components: Part A covers inpatient care in hospitals and other facilities, Part B covers physician and outpatient care, and Part D covers prescription drugs.

Part A spending is projected to increase from 1.5 percent of GDP in 2018 to 2.2 percent in 2040 before growing more gradually to 2.3 percent by 2090. Part B follows a similar but faster-growing trend, increasing from 1.7 percent of GDP in 2018 to 3.0 percent in 2040 and 3.1 percent by 2090. Part D is the smallest but fastest-growing over the next 75 years, rising from 0.5 percent of GDP in 2018 to 0.8 percent in 2040 and 1.1 percent in 2090.

fig 2 medicare trustees 2019


Part A is financed primarily by a payroll tax paid into the Hospital Insurance (HI) trust fund, while Parts B and D are financed by general revenue contributions and premiums paid by beneficiaries to the Supplementary Medical Insurance (SMI) trust fund. Because of these differences in financing, the implications for growth in Medicare spending differ across trust funds, requiring different metrics to assess their status. Importantly, if the HI trust fund becomes insolvent, payments for benefits in Part A of the program will be reduced to match income. Policymakers would need to act to avoid disruption.

For the SMI trust fund, general revenue contributions and beneficiary premiums are set annually to cover program costs so the trust fund is always solvent by definition. Nevertheless, spending for Parts B and D is expected to grow significantly relative to GDP, putting pressure on the federal budget and on beneficiaries through higher premiums and out-of-pocket costs.

The Hospital Insurance Trust Fund Is Seven Years from Insolvency

The Trustees project the Part A Hospital Insurance (HI) trust fund will be exhausted in 2026, just seven years from now. At that time, spending would have to be reduced by 11 percent to be brought in line with revenue.

fig 3 medicare trustees 2019


The HI trust fund faces a 75-year shortfall equal to 0.91 percent of payroll, meaning it would take a payroll tax increase of about that size or an equivalent spending cut to keep the trust fund solvent. The shortfall is 19 percent of 75-year spending and 23 percent of 75-year revenue.

Both HI spending and revenue are expected to increase over time as a share of payroll, but spending will grow much more rapidly in the next few decades. HI spending will increase from 3.4 percent of payroll in 2018 to 4.2 percent by 2028 and 4.9 percent by 2040 before growing more slowly to 5.3 percent by 2090. Revenue will grow steadily from 3.3 percent in 2018 to 3.6 percent in 2028, 3.8 percent in 2040, and 4.4 percent by 2090.

Part B and D Spending Growth Will Put Pressure on the Budget

The Trustees project that both Parts B and D will grow faster than the economy because of growth in the eligible population and in spending per eligible beneficiary. As pointed out above, these parts are financed by general revenue as necessary, so they can’t become insolvent but their growth has other implications. The Trustees point out that absent changes in law, the growth in spending will require a growing share of federal income tax revenue and premiums and out-of-pocket spending will make up a growing share of beneficiary income.

The Trustees project spending for Parts B and D will increase from 2.1 percent of GDP in 2018 to 3.7 percent by 2040. We estimate this increase in program spending will cause beneficiary out-of-pocket costs to increase from 1 percent of GDP in 2018 to 1.8 percent by 2040.

fig 4 medicare trustees 2019


Medicare’s Outlook is Somewhat Worse than Last Year

This year's Trustees report shows a somewhat more challenging financial outlook for Medicare than last year's. The Hospital Insurance trust fund is still projected to be exhausted in 2026 as it was last year, but the 75-year shortfall has increased slightly, from 0.82 percent of payroll to 0.91 percent. The increase is attributed to higher spending and lower revenue than expected in 2018, lower economy-wide productivity growth (which results in higher payment growth), lower interest rates, and slightly higher private plan participation, partially offset by lower skilled nursing facility utilization.

fig 5 medicare trustees 2019


Medicare spending as a whole is also expected to be higher, particularly over the very long term. Projected spending in the 2019 report is within 0.1 percent of GDP of last year's report through mid-century, then the gap slowly widens to 0.3 percent of GDP (6.5 percent compared to 6.2 percent) in 2090. The Trustees attribute these differences to the aforementioned lower productivity growth -- which is used to reduce payment rates so lower growth results in higher payment growth – and increased growth in physician-administered drug spending. On the other hand, Part D spending is expected to be slightly lower due to higher rebates and slower drug price increases in the near term.

fig 6 medicare trustees 2019


Medicare Advantage Growth Will Continue

Medicare Advantage, the system of private health plans that operates in parallel to "traditional" Medicare, has taken on a greater role in the program over time. Participation increased from 24 percent of total Medicare enrollment in 2009 to 36 percent in 2018 with Medicare Advantage plans receiving more than three-quarters of the net increase in enrollment during that time.

The Trustees expect this trend to continue, though somewhat more slowly. Private plans are expected to receive a majority of the net enrollment increase over the next decade, with private plan enrollment reaching 40 percent of total enrollment in 2028. Per-person spending is expected to increase by three-quarters over the next ten years, from about $11,000 in 2018 to over $19,000 in 2028, slightly faster than the 65 percent growth for overall Medicare per-person costs.

Combining these two trends, total Medicare Advantage spending is expected to increase by 150 percent between 2018 and 2028, from $234 billion to $589 billion, compared to 111 percent for Medicare overall. As a share of total Medicare spending, it will rise from 31 percent to 37 percent. These projections show the Trustees expect Medicare Advantage to continue to play a big and increasing role within Medicare.

fig 7 medicare trustees 2019


Actual Spending Growth Could Be Worse

The Trustees' default projections assume current law, which means no changes are made to how Medicare operates. However, certain payment policies intended to hold down costs may be financially unsustainable and threaten access. Under its default projection, the Trustees expect Medicare inpatient hospital payments to fall from 60 percent of private insurance levels to about 40 percent in 75 years and for physician payments to fall from about 75 percent to 23 percent. Since 2011, the Chief Actuary of Medicare has published an Illustrative Alternative Scenario that assumes some of the policies that result in these low payment levels are rolled back.

The alternative scenario makes different assumptions from current law for three policies: the productivity adjustments that reduce certain payment updates by economy-wide productivity growth, relatively slow payment increases for physicians, and the expiration in 2025 of 5 percent bonuses for physicians who participate in alternate payment models. They assume the productivity adjustments are phased out, physician payments increase more rapidly, and the bonuses continue.

With these assumptions, the HI trust fund shortfall nearly doubles to 1.74 percent of payroll, and Medicare spending rises to 8.8 percent of GDP by 2090 instead of 6.5 percent. Most of the difference in spending emerges over the very long term as the higher payment increases compound over time.

fig 8 medicare trustees 2019


Conclusion

The 2019 Medicare Trustees’ report shows Medicare spending rising rapidly as a share of GDP over the next quarter century and the HI trust fund becoming insolvent by 2026. The illustrative alternative scenario that includes potentially more realistic payment policies shows Medicare spending rising even more substantially over the long term. Either scenario shows a situation where the federal government and Medicare beneficiaries will need to dedicate a growing share of their budgets to Medicare over time.

Lawmakers need to ensure the solvency of HI in the near term and should work at the same time to constrain spending growth in all components of the program. Doing these things will be key to securing our fiscal future.

Source: https://www.crfb.org/papers/analysis-2019-medicare-trustees-report

Image: www.Canva.com

Additional Updates:
 

Tags: Medicare

Humana Plan Year 2020 Certification and Recertification Details Announced!

Posted by www.psmbrokerage.com Admin on Tue, May 14, 2019 @ 10:04 AM

Humana Certification & Recertification Course Details for Plan Year 2020!

Humana 2020 Certification Info Header


It’s already that time of year to start preparing for AEP 2020 and Humana is here to help. We are excited to announce that we will be launching certification and recertification courses earlier than ever before this year! Both courses will launch at noon Eastern Time on June 25, 2019

Our team listened to your feedback and has made some changes to help improve your experience this year.

Top 4 Improvements:

  1. This will be the earliest cert and recert launch date in Humana MarketPoint history!
  2. Certification Course outlines will be reduced by almost half while maintaining training quality and making it more efficient for you to complete your certification.
  3. Both the certification and recertification final exams are open book, and for PY20 we are making it easier than ever to find the information you need to pass the test.
  4. The time to complete the final exam (both cert and recert) will be extended from 35 minutes to 45 minutes

Certification & Recertification Launch Dates
All PY20 Certification and Recertification courses will launch Tuesday June 25, 2019 at noon EST.*

*NOTE: Does not include Spanish translation.  Spanish versions will be available on a delayed basis. Look for additional communications on Spanish versions.

Recertification Completion Deadlines

  • Internal agents will have until 5:00 PM Eastern time on September 30, 2019 to complete Recertification.
  • External agents will have until 5:00 PM Eastern time on November 30, 2019 to complete Recertification.


Ahip Information

 

Additional Updates:
 

Tags: Humana, Medicare Advantage, Medicare, certification

Action required by members who requested to have their premiums withheld by SSA/RRB in 2019

Posted by www.psmbrokerage.com Admin on Mon, May 13, 2019 @ 10:46 AM

Action required by members who requested to have their premiums withheld by SSA_RRB in 2019

 

We want to notify you about an issue affecting all Medicare members who elected to pay plan premiums from their Social Security Administration (SSA) or Railroad Retirement Board (RRB) check.

Aetna Logo-1

Background

Normally, when members select this premium payment option, the SSA/RRB withholds funds from members’ SSA/RRB checks to cover their plan premiums.

Unfortunately, due to a system issue, this did not occur for two or more months starting February 1, 2019. This issue affected all carriers, not just Aetna. Although the system issue is now fixed, the SSA/RRB cannot retroactively deduct premium payments from members’ checks.

What do members need to do?

Because these members now have past-due accounts, their premium payment method has changed to direct billing, effective February 1, 2019. This means they now need to pay any past-due premium amounts to Aetna directly.

Member communication

Members will receive a letter explaining what happened and what they need to do later this month. Letters are being mailed in waves, between May 10-24, so members will receive them over several weeks. View the member letter.

What happens next?

  • We’ve already submitted a new request to restart SSA premium deduction for the affected members, effective June 1, 2019. If the request is accepted by SSA, they will send members a letter of approval. Please be aware this can take up to 90 days.
  • Please explain to your clients that SSA will only deduct future premiums from their Social Security check as of the effective date noted in their approval letter, so any balances owed up until that effective date must be paid to Aetna directly. Members need to pay premiums directly to us for any months the SSA or RRB doesn’t cover.
  • While these members are not currently at-risk for termination due to nonpayment, they do need to begin making payments to ensure their plan does not face termination for nonpayment in the future.

Encourage members to call us with any questions

Although this issue was out of our control, we realize it will be an inconvenience for our members. If they have any questions, please encourage them to call Member Services by dialing the number on their member ID card. The Member Services team is available 7 days a week, from 8 a.m. to 8 p.m.

As always, thank you for your dedication to our members and for your help educating them on this matter. If you have any questions, please contact the Aetna Medicare Broker Services Department at 1-866-714-9301 or brokersupport@aetna.com.

Additional Updates:
 

Tags: Medicare Advantage, Part D, aetna

Aetna: DSNP marketing materials are now available

Posted by www.psmbrokerage.com Admin on Fri, May 10, 2019 @ 03:17 PM

Aetna MA DSNP Header - Marketing Studio


If you have Dual-eligible Special Needs Plans (DSNPs) in your market, you can now find, download, print and order DSNP marketing materials on the Aetna Medicare Marketing Studio (MMS). You can find the materials in the designated DSNP category on the MMS menu. DSNP materials include

  • Sandwich boards
  • Pull-up banners
  • Tabletop signs
  • Coming Soon: Brochures
  • Coming Soon: Customizable event flyers

Aetna is constantly adding new materials to the Studio. Make sure you check back often to find out what’s new. If you are not appointed with Aetna, Click here to request contracting and sales materials.

Additional Updates:
 

Tags: Insurance Marketing, aetna, DSNP

New Virginia Medicare Supplement Release from Mutual of Omaha

Posted by www.psmbrokerage.com Admin on Wed, May 08, 2019 @ 10:18 AM

Mutual Med Supp Virginia

We have some exciting news to share!

Mutual of Omaha is releasing a new Medicare Supplement in Virginia.
Request details today and be ready
when the product roles out for new sales.

Call us at 800-998-7715 and one of our marketing representatives would be happy to share this valuable information with you.

Get to know MACRA

 
Additional Updates:
 

Tags: Medicare Supplement, Mutual of Omaha Medicare Supplement

New Wyoming Medicare Supplement Release from Mutual of Omaha

Posted by www.psmbrokerage.com Admin on Wed, May 08, 2019 @ 10:15 AM

Mutual Med Supp Wyoming

We have some exciting news to share!

Mutual of Omaha is releasing a new Medicare Supplement in Wyoming.
Request details today and be ready
when the product roles out for new sales.

Call us at 800-998-7715 and one of our marketing representatives would be happy to share this valuable information with you.

Get to know MACRA

 
Additional Updates:
 

Tags: Medicare Supplement, Mutual of Omaha Medicare Supplement

64% Of Agents Report Increased Medicare Supplement Sales

Posted by www.psmbrokerage.com Admin on Wed, May 08, 2019 @ 08:36 AM

64 Of Agents Report Increased Medicare Supplement Sales

Nearly two-thirds of insurance agents reported increased sales of Medicare supplement insurance in 2018 and a higher percentage expect continued growth in 2019, according to a survey conducted by the American Association for Medicare Supplement Insurance.

"The vast majority of agents (64.1%) experienced increased Medigap sales in 2018 compared to the prior year," reports Jesse Slome, director of the association.

The organization polled 1,000 insurance professionals who market Medicare insurance in advance of the association's national Medicare Supplement industry conference. Over 300 agents completed the survey questions.

Some 64.1 percent of the agents reported increased or higher sales of Medigap insurance in 2018. Just over one-in-four (27.2%) indicated that their sales were about the same as the prior year with only 8.7 percent reporting decreased or lower sales.

The association asked agents to predict their 2019 sales compared to 2018.

"An ever greater majority of agents (68.6%) were more optimistic that their Medigap sales during the year would be higher," Slome said. "The percentage who expect decreased sales dropped to 3.8 percent.

"With 11,000 Americans turning 65 daily, it's no wonder why more agents are focusing on selling Medicare Supplement and Medicare Advantage products," he added. "There is every reason to be optimistic about the future and the continued growth of the industry."

Source: https://insurancenewsnet.com/innarticle/nearly-65-of-agents-report-increased-medicare-supplement-sale

Image: www.Canva.com

Additional Updates:
 

Tags: Medicare Advantage, Medicare, Medicare Supplement

Industry Updates: Medicare Supplement Market Premium Grows 4.9% to $32.4 Billion

Posted by www.psmbrokerage.com Admin on Tue, May 07, 2019 @ 04:04 PM

CSG Actuarial Blog Header

By Taylor McDonald – CSG Actuarial – May 7, 2019

CSG Actuarial, with information from the NAIC and other sources, reports total earned premiums in the Medicare Supplement market in 2018 totaled $32.4 billion, a 4.9% increase over 2017. The total Med Supp lives covered in 2018 increased to 14.05 million, up 3.9% from 2017. The top 12 carriers in terms of 2018 Medicare Supplement premiums were:

1 United Healthcare
2 Mutual of Omaha
3 Anthem
4 HCSC
5 CVS Health
6 Cigna 
7 CNO Financial
8 BCBS of Massachusetts
9 Humana
10 Wellmark
11 BCBS of Michigan 
12 BCBS of Florida

The 2018 overall Med Supp market loss ratio of 79.0% reflects a continued trend in the market of the overall loss ratios creeping back up towards “Pre-Modernized” levels of around 80%.

Source: https://www.csgactuarial.com/2019/05/industry-updates-medicare-supplement-market-premium-grows-4-9-to-32-4-billion/

Additional Updates:
 

Tags: Humana, Cigna, Medicare, Medicare Supplement, UnitedHealthcare, CSG Actuarial, aetna, mutual of omaha

Why Agents Should be Selling Hospital Indemnity

Posted by www.psmbrokerage.com Admin on Tue, May 07, 2019 @ 02:47 PM

Hospital Indemnity Header


Why Agents Should be Selling Hospital Indemnity

Ask any successful Medicare Advantage producer what they are most likely to cross sell with every Medicare Advantage plan sold and you’ll likely hear the same response… Hospital Indemnity.

While Medicare is important to have, it may still leaves gaps in coverage that a policyholder is responsible for. A Hospital Indemnity plan can help bridge the gaps left open from a Medicare Advantage Plan, by providing a direct cash benefit to the policyholder.

Most Medicare Advantage Plans don't cover the first 4 to 7 days of a hospitalization. Per the American Hospital Association (AHA) Hospital Statistics, the average hospital stay costs over $10,000, but can vary widely.

[Ask About our Hospital Indemnity Offerings]

What are the Benefits of a Hospital Indemnity Plan?

  • Hospital Confinement Co-Payment Coverage - Up to 31 Days
  • 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

Another gap that some Hospital Indemnity plans may help with are hospital visits that are designated as "observation status". Observation status encompasses care received in a hospital without being admitted.

Here's an example. If you go to the hospital complaining of abdominal pain, you may be placed in a hospital room or bed. This allows the doctor to monitor your condition while performing diagnostic tests to determine the cause of your pain without formally admitting you. 

Observation status is mainly a billing designation, but it matters since services received while under observation are not covered by Medicare Part A.

Medicare Part B will cover 20 percent of the Medicare-approved amount for any services received. If the beneficiary does not have Part B, then they are responsible for 100% of the costs incurred while under observation.

For most people, the out of pocket costs of having these gaps in coverage can be devastating. The right hospital indemnity plan could help ease that burden and make for a very affordable alternative to help your clients cover the unexpected.

When Can You Sell a Hospital Indemnity Plan?

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. 

[Ask About our Hospital Indemnity Offerings]

Relative Cost of a Hospital Indemnity Plan

Of the 20,400,000 people currently enrolled in a Medicare Advantage Program 46% are on a zero premium plan.

Indemnity medical insurance costs depend on your age, the amount of coverage you want and the indemnity insurance company. You can buy coverage per individual or per family. For the benefit that a hospital indemnity insurance plan provides, the cost is relatively inexpensive.

When you sell a $0 or low cost Medicare Advantage Plan, this allows budget flexibility with a majority of consumers to cover the gaps left behind. 

With a lower premium Medicare Advantage plan, your clients can entertain a Hospital Indemnity plan without breaking the bank and have peace of mind and a sense of security.

PSM offers several Hospital Indemnity options for your portfolio. We have plans from Aetna, Sentinel LifeEquitable LifeGTLHeartland National and Medico.

If you have any questions, please give one of our experienced marketers a call at 1-800-998-7715 for more information on this versatile product for your senior insurance clients.

[Ask About our Hospital Indemnity Offerings]

 

Additional Updates:

New Great Southern Life (GSL) Med Supp States Coming Soon

Posted by www.psmbrokerage.com Admin on Tue, May 07, 2019 @ 02:23 PM

Great Southern Life Med Supp Release Updates

Great Southern Life Medicare Supplement Plans

We are excited to announce that Americo will be releasing new Medicare Supplement premium rates through our subsidiary company, Great Southern Life (GSL) in 10 new states. Beginning August 5, 2019, GSL

Medicare Supplement will be available in
AL, DE, KY, LA, MI, ND, NM, TN, VA, and WY.

 Rate Examples

Want to know more?

Rates will be available on CSG beginning July 29th. Note that AFL Med Sup rates will no longer be available in these 10 states effective August 5th. Application packets, marketing materials, and sales tools will be available on Americo.com and AmericoMedSup.com July 29th. The GSL eApplication will be available on August 5th.

Want to know more?

For more information or to get contracted to sell GSL Medicare Supplement Plans, call us today at 800-998-7715 or request info here.


Earn More Than Ever Before on Med Supp Business
Get a CASH Bonus in May, July and September!

Meet the minimum UFirst Rewards requirements by April 30, 2019 and receive a bonus check in May. Keep producing and get an additional bonus checks on any new qualifying business in July and September. Make even more money by hitting $30,000 and get paid retroactively! View Bonus details here.

 
Additional Updates:
 

Tags: americo medicare supplement, GSL Med Supp, Great Southern Life Medicare Supplement

Medicare spending lower among seniors who switch to Medicare Advantage

Posted by www.psmbrokerage.com Admin on Tue, May 07, 2019 @ 01:43 PM

Medicare spending lower

 

By Shelby Livingston – ModernHealthCare – May 7, 2019

The health insurance industry often attributes lower spending among Medicare Advantage seniors compared with those in traditional Medicare to care management strategies. But a study published Monday turns that claim on its head.

Researchers at the Kaiser Family Foundation found that traditional Medicare beneficiaries who opt to enroll in a Medicare Advantage plan offered by a private health insurer have lower average spending and use fewer services—before they ever switch to Medicare Advantage—than their counterparts who stay in traditional Medicare. The findings raise questions about how much Advantage plans actually lower spending.

Moreover, the results suggest that the CMS, which uses traditional Medicare spending to calculate Advantage payments, overpays Medicare Advantage plans to the tune of billions of dollars each year, the researchers concluded. A little more than a third of the 60 million Medicare enrollees are in an Advantage plan. The CMS paid Medicare Advantage insurers about $233 billion in 2018, a figure expected to grow as more seniors choose Advantage plans.

"Medicare Advantage plans are perhaps getting paid more than the actual expected costs of their enrollees," said Gretchen Jacobson, a Kaiser Family Foundation associate director who co-authored the study.

Researchers looked at average Medicare Part A and B spending among people who were enrolled in traditional Medicare in 2015. Those enrollees who switched to a Medicare Advantage plan in 2016 spent $1,253 less in 2015 on average than beneficiaries who did not switch, after controlling for health risks.

Source: https://www.modernhealthcare.com/insurance/medicare-spending-lower-among-seniors-who-switch-medicare-advantage

Image: www.Canva.com

Additional Updates:
 

Tags: Medicare Advantage, Medicare

Are Medicare Advantage Plans Lowering Medicare Spending?

Posted by www.psmbrokerage.com Admin on Tue, May 07, 2019 @ 11:23 AM

Are Medicare Advantage Plans Lowering Medicare Spending-2

Answer: Yes! 

By the Kaiser Family Foundation – May 7, 2019

People on Medicare can choose coverage from either traditional Medicare or Medicare Advantage plans, typically trading off broad access to providers for potentially lower premiums and out-of-pocket costs. Beneficiaries who choose Medicare Advantage may differ from those in traditional Medicare in both measurable and unmeasurable ways, which may influence their use of services and spending. Yet, Medicare payments to Medicare Advantage plans per enrollee are based on average spending among beneficiaries in traditional Medicare.

This analysis looks at whether beneficiaries who choose to enroll in Medicare Advantage plans have lower spending, on average – before they enroll in Medicare Advantage plans – than similar people who remain in traditional Medicare. We compare average traditional Medicare spending and use of services in 2015 among beneficiaries who switched to Medicare Advantage plans in 2016 with those who remained in traditional Medicare that year, after adjusting for health risk. We adjust Medicare spending values for health conditions and other factors, with a model similar to the CMS HCC Risk Adjustment Model that is used to adjust payments to Medicare Advantage plans (see Methods).

Key Findings

  • People who switched from traditional Medicare to Medicare Advantage in 2016 spent $1,253 less in 2015, on average, than beneficiaries who remained in traditional Medicare, after adjusting for health risk (ES Figure).


ES Figure: Traditional Medicare spending was $1,253 lower for beneficiaries who switched to Medicare Advantage in 2016 than for those who did not switch

  • Even among traditional Medicare beneficiaries with specific health conditions, those who shifted to Medicare Advantage in 2016 had lower average spending in 2015, including people with diabetes ($1,072), asthma ($1,410), and breast or prostate cancer ($1,517).

Even after risk adjustment, the results indicate that beneficiaries who choose Medicare Advantage have lower Medicare spending – before they enroll in Medicare Advantage plans – than similar beneficiaries who remain in traditional Medicare, suggesting that basing payments to plans on the spending of those in traditional Medicare may systematically overestimate expected costs of Medicare Advantage enrollees.

View Briefing

Source: https://www.kff.org/medicare/issue-brief/do-people-who-sign-up-for-medicare-advantage-plans-have-lower-medicare-spending/

Image: www.Canva.com

Additional Updates:
 

Tags: Medicare Advantage, Medicare

Virtual Care for Medicare Advantage

Posted by www.psmbrokerage.com Admin on Tue, May 07, 2019 @ 11:02 AM

Virtual Care for Medicare Advantage


By TeladocHealth – May 6, 2019

Under the Centers for Medicare & Medicaid Services (CMS) proposed rule issued on October 26, 2018, Medicare Advantage plans will be able to provide “additional telehealth benefits” as basic benefits for purposes of bid submission and payment by CMS beginning in the 2020 plan year. With this landmark regulatory shift that expands reimbursement for virtual care services, CMS has opened the door for the advancement of differentiated offerings reliant on innovative care models.

A comprehensive virtual care strategy provides a pathway for health plans to expand their Medicare Advantage offerings by:

  • Expanding access to high-quality, comprehensive clinical care to more members
  • Better engaging members to enhance and simplify their healthcare experience
  • Delivering better data integration and care coordination
  • Connecting members with a broader network of providers and referrals
  • Improving clinical quality and Star Ratings

Conclusion

Medicare Advantage represents a significant growth opportunity for health plans serving the 65-plus consumer population. Recognizing the expansive and changing needs of this group—the “age-ins” along with the older demographic—the most-successful health plans will pivot quickly to partner with a trusted and proven virtual care provider to unlock value by incorporating comprehensive, scalable, and innovative strategies.

Read the Report

Source: https://www.teladoc.com/

Additional Updates:
 

Tags: Medicare Advantage, Medicare

Update: Medicare is Strong and Built to Last

Posted by www.psmbrokerage.com Admin on Mon, May 06, 2019 @ 03:39 PM

Medicare is Strong and Built to Last


Lindsey Copeland / May 2, 2019 / Medicare Watch

Last week’s Medicare Trustees’ report predicts the Part A Hospital Insurance (HI) trust fund will be partially depleted in 2026. This is the same as last year’s projection, and three years earlier than in 2017—the last report issued before the GOP tax bill took effect.

This is not a coincidence. The 2017 tax bill directly cut funding for the Part A Trust Fund by significantly reducing one of its primary revenue streams—the taxation of Social Security benefits. It also caused some of the projected growth in Part A expenditures. By zeroing out the Affordable Care Act’s individual mandate, the tax bill also increased the number of uninsured—driving up Medicare hospital payments for uncompensated care. Higher spending projections can also be attributed to the tax bill’s repeal of the Independent Payment Advisory Board, which would have helped to control Medicare spending if the growth rate exceeded certain target levels.

Read the 2019 Medicare Trustees Report

Source: https://blog.medicarerights.org/medicare-is-strong-and-built-to-last

Image: www.Canva.com

Additional Updates:
 

Tags: Medicare

CMS Maintains Important Changes in Draft 2020 Medicare & You Handbook

Posted by www.psmbrokerage.com Admin on Mon, May 06, 2019 @ 03:28 PM

CMS Maintains Important Changes in Draft 2020 Medicare & You Handbook



Julie Carter / May 2, 2019 / Medicare Watch

Last year, the Centers for Medicare & Medicaid Services (CMS), the federal agency that oversees the Medicare program, released a draft version of the annual “Medicare & You” handbook that contained several glaring inaccuracies. In a significant advocacy success, Medicare Rights and our allies convinced CMS to correct these major errors and release a final 2019 handbook that was greatly improved.

This week, CMS released a draft for the 2020 handbook. We are relieved to see that this draft does not repeat last year’s mistakes.

Read more about our original concerns with the “Medicare & You” handbook in 2019.

Read our thank you letter to CMS as a response to the changes to 2019’s “Medicare & You.”

Source: https://blog.medicarerights.org/cms-maintains-important-changes-in-draft-2020-medicare-you-handbook

Additional Updates:
 

Tags: Medicare, CMS

Deft Research: Dual Eligible Member Study

Posted by www.psmbrokerage.com Admin on Mon, May 06, 2019 @ 03:18 PM

Dual Eligible Member Study



The recently published Dual Eligible Member Study finds the Medicare Advantage Dual enrollment continues to grow. Dual enrollment increased by 2% from 2016 to 2017. The latest research provides carriers with information to better understand the Dual population and guide marketing decisions pertaining to messaging and channels.

Deft Research surveyed over 1,300 Dual eligible seniors to show insurers how they can position supplemental benefits not only as additions to core insurance benefits, but also as solutions to address social and economic barriers to health care that many Duals face.

Check out the Preview Slides from the 2019 Dual Eligible Member Study for more key findings. 

Source: https://www.deftresearch.com/

Related: https://www.psmbrokerage.com/grow-your-medicare-business-with-special-needs-plans

Additional Updates:
 

Tags: Medicare Advantage, Dual Eligibles, DSNP

How to Close a Sale: 7 Closing Techniques & Why They Work

Posted by www.psmbrokerage.com Admin on Mon, May 06, 2019 @ 03:05 PM

How to Close a Sale


Closing is a make-or-break moment in sales. Choosing the right phrases to seal a sales deal is crucial. And this moment is likely the final verdict determining whether or not your efforts will amount to anything at all.

You're not the only salesperson who feels apprehensive about the close. However, without that feeling of risk, successfully closing a sale wouldn't be so thrilling -- which drives salespeople to continually strive for more.

Because sales professionals are expected to generate the best possible win rates for their effort, a large number of closing sales techniques have been developed over the years.

Here are a few proven closing techniques, and why they're so effective.

Source: https://blog.hubspot.com/sales/sales-closing-techniques-and-why-they-work

Image: www.Canva.com

Additional Updates:
 

Tags: closing sales, Sales Strategies

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