Medicare Blog | Medicare News | Medicare Information

2023 Selling Medicare Supplements Guide

Posted by www.psmbrokerage.com Admin on Tue, Nov 29, 2022 @ 01:23 PM

0 Comments Click here to read/write comments

IMPORTANT: Contracting and Commissions System Enhancements Require AgentXcelerator Be Taken Offline from Nov. 16 – Nov. 28

Posted by www.psmbrokerage.com Admin on Tue, Nov 15, 2022 @ 12:06 PM

AgentX

Happy Holidays!

We have only four more weeks until the official close of the Annual Enrollment Period, and we hope you are having a successful selling season.

We are in the process of making significant enhancements to our contracting and commissions system, which will also affect access to the AgentXcelerator portal. We want to make you aware of a planned system shutdown that is associated with these enhancements.

Note: For those of you who access CSG for quoting through AgentXcelerator, here’s a direct link to access here: CSG Quotes & Tools.

For those of you who access our YourMedicare/SunFire enrollment platform for Medicare Advantage & PDP business, the direct link to access is here: Your Medicare Sunfire

How Will This Impact You and Your Business?

1.) AgentXcelerator will be taken offline from 5 p.m. ET on Wednesday, Nov. 16 until 8 a.m. ET on Monday, Nov. 28.

2.) Medicare Advantage commissions and renewal payments currently scheduled to be run on Wednesday, Nov. 23 will now be processed on Tuesday, Dec. 1. These payments will include any adjustments that might be incurred during the system enhancement period.

3.) The Medicare Advantage commissions payments currently slated to be processed on Nov. 17 will be run before the system is taken offline and will be paid on Thursday, Nov. 17.

4.) The shutdown will delay new agent contracting for the duration of the transition period; however, it will not affect your ability to write business for any of your current carrier contracts.

Going Forward

We understand this may cause inconveniences for your business operations, and we are committed to answering any questions or concerns you might have during the system transition.

For any questions concerning commissions, contracting, or any carrier products please call your marketer at (800) 998-7715.
You can also contact your direct upline for any additional questions you might have.
For questions pertaining to AgentXcelerator, please call the helpline at (844) 550-1200.

We greatly appreciate your business and thank you for your flexibility during this transition period. Please do not hesitate to call our team with any questions you might have.

On behalf of our team, we hope you have a wonderful holiday season and a successful end to this year’s Annual Enrollment Period!

0 Comments Click here to read/write comments

Tags: AgentXcelerator

LeadStar: Agent Approved Scripts - Inbound & Outbound

Posted by www.psmbrokerage.com Admin on Mon, Nov 14, 2022 @ 02:59 PM

0 Comments Click here to read/write comments

Tags: Leads, LeadStar, Medicare leads

Mutual of Omaha: Enhanced Broker Bonus Program

Posted by www.psmbrokerage.com Admin on Fri, Nov 11, 2022 @ 08:56 AM

0 Comments Click here to read/write comments

Tags: Mutual of Omaha Medicare Supplement, Bonus Program

Thank You Veterans!

Posted by www.psmbrokerage.com Admin on Fri, Nov 11, 2022 @ 08:25 AM

0 Comments Click here to read/write comments

LeadStar: Benefits of a Lead Disposition Program

Posted by www.psmbrokerage.com Admin on Wed, Nov 09, 2022 @ 09:23 AM

0 Comments Click here to read/write comments

Tags: Leads, LeadStar, Medicare leads

LeadStar Marketplace Transforms Lead-Generation Process

Posted by www.psmbrokerage.com Admin on Thu, Nov 03, 2022 @ 10:07 AM

0 Comments Click here to read/write comments

Tags: Leads, LeadStar, Medicare leads

Finding Life Insurance Opportunities During AEP

Posted by www.psmbrokerage.com Admin on Thu, Nov 03, 2022 @ 09:34 AM

AEP Life Insurance Sales-1 When meeting customers to discuss Medicare Advantage (MA) plans during AEP, CMS strictly prohibits agents from discussing non-health-related financial products, such as life insurance policies or annuities. Yet savvy agents will still watch for opportunities to discuss life insurance when the time is right. One potentially worthwhile area to explore involves the Medicare beneficiary’s family members.

KNOW WHO’S IN THE ‘CIRCLE OF TRUST’

Warm-ups and fact-finding help agents get to know their AEP customers and, often,
the client’s family as well — especially family members who help decide something as
important as Medicare coverage. Agents must consider the influence these trusted individuals have with clients. Whether present during the AEP appointment or not, customers and their trusted family members will talk.

Embracing the concerns of the client’s family turns an AEP appointment into an
opportunity to make a good impression on the extended family and establish trust.
Think of the possibilities! Everyone in that inner circle will likely have life insurance needs
of one kind or another. And many decision Helpers will be approaching the age when they too could benefit from the expertise of agents who serves older clients.

THE BEST CUSTOMER IS AN EXISTING CUSTOMER

New MA clients should top agent lists of life insurance prospects. The question is when and how to raise the subject.

Medicare coverage can be complicated. Compliant agents set up follow-up appointments to ensure their clients are happy with their chosen plans. A good opportunity to bring up life insurance may come up during follow-up appointments. Agents may introduce final expense plans by pointing out that this type of coverage may cover funeral and/or burial expenses not covered by a Medicare plan. If beneficiaries request information about different plan types than they previously agreed to, agents will be required to complete a new scope of appointment.

Or maybe bring up a family member who was central to earlier conversations. For instance, an agent might ask if the daughter involved in the MA decision would also lead when making “final arrangements” for the customer. If so — and if the need exists — suggest a final expense policy to save that loved one from out-of-pocket costs during what will already be a difficult time. Or maybe the agent learned about other family members that the MA client would want to protect.

Success during AEP is crucial to business growth for agents. Fortunately, it isn’t a
one-and-done opportunity. Agents will set themselves up for success – not only during
AEP but for many years to come – when they respect the wishes and concerns their customers have regarding family members.

Life is good! Sell it!

By David Paul, National Sales Director, Simplified Issue Life

footer with logo-2

0 Comments Click here to read/write comments

Tags: Final Expense, Life Insurance, AEP

Best Practices: Supercharge AEP by Managing Leads

Posted by www.psmbrokerage.com Admin on Thu, Nov 03, 2022 @ 08:59 AM

Best practices - leads Like most good things, strong leads don’t simply come from nowhere — they have to be developed. And unless they are managed effectively, even the best leads can be difficult to close.

NOT ALL LEADS ARE GENERATED EQUAL

Companies specializing in lead generation work hard to evaluate how well sources perform for different businesses and in various channels. Constant testing and analyses are necessary for lead optimization.

Furthermore, consumers should know what to expect when they provide their information in a lead form. Transparency ensures prospects aren’t wondering why an agent is calling.

There are also rules about how leads are generated for AEP. CMS prohibits:
• Cold calling
• Direct messaging via social media
• Text messaging
• Canvassing door-to-door.

Additionally, CMS requires a record of a consumer’s agreement to speak with an agent during AEP.

DIALING FOR CUSTOMERS

Working leads usually means making a lot of phone calls. Robert Bache, founder and chief of sales for Senior Healthcare Direct, recommends calling every lead 12 times within the first four days of receiving it. However, agents need to remember that
CMS regulations prohibit them from calling customers more than three times a day over a 24-hour period.

“If you have a lead and you call it four times but don’t call it again, don’t say that lead wasn’t any good,” Robert says. “You didn’t work it appropriately.”

Robert also suggests leaving a voicemail message daily. He likes to use what he calls the “double tap” strategy. This is when a lead is called and then called again within five minutes. He explained that when people get a call from an unfamiliar number, they let
it go to voicemail. If the number pops up again within five minutes, people are more likely to answer.

SET YOURSELF UP FOR SUCCESS

During the critical opening moments of contact, agents must take control of the conversation so it moves forward to the presumed closing.

Avoid time-wasting, open-ended introductory questions like:
• How are you doing today?
• What were you looking for?
• Did you go online?
• How can I help you?

Instead, assume the customer is short on time and needs solutions, and the agent is there to provide them. Of course, an agent needs to warmly build rapport, but it is more important to quickly demonstrate value. Rapport can still come later as the process continues.

As you wrap your introduction, consider asking about the customer’s current coverage to dive into why you’re there.

OUTBOUND SALES CALLS BASICS

When you have a potential client on the line, consider these five steps to guide the discussion:
1. Make an introduction
2. Conduct fact-finding
3. Do a needs analysis
4. Make the presentation
5. Go for the close

Leads are the lifeblood for health care and financial sales professionals. Using these proven strategies will solidify agents’ relationships with their customers and create an efficient and rewarding experience for all parties.

Want to learn more?
Watch this LeadStar Marketplace All Star Training webinar.