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Why Agents Should be Selling Hospital Indemnity

Posted by www.psmbrokerage.com Admin on Thu, Jan 26, 2023 @ 10:59 AM

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 leave gaps in coverage that a policyholder is responsible for. 

For instance, 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.

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.



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. 

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 Life, Equitable Life, GTL, Heartland 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 insurance clients.

[Ask About our Hospital Indemnity Offerings]


“Cross-selling occurs when an opportunity to sell a Medicare plan is also utilized to sell a non-health related product (such as life or home insurance or financial planning services). This activity is prohibited by CMS during individual appointments, marketing/sales events or when providing Medicare plan enrollment materials to consumers. Review the current Medicare Advantage Marketing Regulations and make sure you’re complying with Medicare’s rules regarding cross-selling.”

*For Agent use only. Not affiliated with the U. S. government or federal Medicare program.



Introducing GTL Turbo Term

Posted by www.psmbrokerage.com Admin on Thu, Jan 26, 2023 @ 09:26 AM




Insurtech Built for
Agent Distribution

Instant Issue Term Life Insurance from
GTL powered by Artificial Intelligence

Now available on GTL's Agent Portal!

Guarantee Trust Life Insurance Company has developed Turbo Term - an innovative instant issue term life insurance product to give your client's family the financial stability they need with the simplicity and speed you want.

With GTL's state-of-the-art underwriting platform powered by artificial intelligence, your clients won't have to worry about a long application process or uncomfortable medical exams. Simply answer a few questions and receive the affordable coverage they need in minutes!

  • Level Term Lengths
    10, 15, 20, 25 & 30 year term
  • Flexible Coverage Amounts
    $100,00 to $1,000,000
  • Age Availability
    20-70 with coverage available to children​​​​​​



Rev Up Your Sales

No Medical Exams

Affordable Rates

Instant Coverage

Flexible Benefits


Current State Availability



Please contact Sales Support with any questions
by calling 800-998-7715 or by emailing info@psmbrokererage.com 


FOR AGENT USE ONLY - Cannot be distributed to the public or used in any consumer solicitation.

Turbo Term, Individual Level Term Life Insurance, is issued on Policy Form Series ICC21-21TL, and Rider Form Series ICC21-R21ADD, ICC21-R21ADB, ICC21-R21CHILD, and ICC21-R21WP by Guarantee Trust Life Insurance Company (GTL), Glenview, IL. This product’s availability, features, riders and terms under which coverage may be continued in-force or discontinued vary by state. Certain exclusions and limitations apply.


Tags: Guarantee Trust Life

LeadStar: Learn How to Achieve a 20% Close Rate in Just Two Days!

Posted by www.psmbrokerage.com Admin on Wed, Jan 25, 2023 @ 10:47 AM

Tags: Leads, LeadStar, Medicare leads

CMS Proposed Regulations - 2024 MA-PD proposed rule

Posted by www.psmbrokerage.com Admin on Tue, Jan 24, 2023 @ 04:43 PM

2024 CMS Proposed Rule

As you are likely aware, CMS published the 2024 MA-PD proposed rule on 12/27/2022, in which CMS proposes to implement several significant changes to its marketing, sales, and oversight rules regarding MA-PD distribution operations. Since the publication of the rule, we have taken several steps to both assess the potential impact of this rule, as well as working to impact the final rule via the comment period, which continues until 02/13/2023.

Among these steps, PSM has created an internal task force consisting of leaders from our Executive, Regulatory and Compliance, Sales and Distribution, and Marketing and Lead Generation teams. This task force is responsible for assessing the impact we believe this rule will have on customers and relaying this information to CMS during the comment period, ensuring that any new MA-PD rule allows PSM to continue to effectively perform our mission of helping people live longer, healthier, and more secure lives.  Additionally, this task force is responsible for ensuring that any required strategic and tactical shifts in our business operations are performed in a way that minimizes disruption to our core operations. 

Outside of PSM, Marketing leaders are working with industry consortia to gather information, provide a shared point of view on the proposed rule, and make additional comments to CMS reflecting our industry’s shared commitment to performing Sales, Marketing, and Oversight operations in a customer-centric manner.

Precision Senior Marketing is committed to keeping our entire agent community informed about changes that may be required because of this rule, as well as providing guidance once the final rule is instituted.  As we progress with our work on this topic, you will be kept up to date.

Source: https://www.federalregister.gov/documents/2022/12/27/2022-26956/medicare-program-contract-year-2024-policy-and-technical-changes-to-the-medicare-advantage-program 



Tags: medicare advantage updates, CMS

Amazon rolls out generic drug subscription service

Posted by www.psmbrokerage.com Admin on Tue, Jan 24, 2023 @ 02:30 PM


Dive Brief:

  • Amazon is launching a generic drug discount program for Prime members, beefing up its pharmacy offering as the ecommerce giant continues its push into healthcare.
  • The subscription service, called RxPass, is $5 per month for customers with Prime to fill as many prescriptions as needed from a list of about 50 generic medications, including delivery to their doorstep.
  • RxPass does not accept insurance, including Medicare and Medicaid coverage. It is available in 42 states.

Dive Insight:

Amazon already sells a number of generic drugs through Amazon Pharmacy. Though costs vary, medications can sell for as low as $1 for a month’s supply. Given that, the extent of RxPass’ role as an inexpensive generic drug pathway is unclear. In a release, Amazon said Prime members who take two or more medications a month could save “significant time and money” with the RxPass subscription.

Annually, RxPass would run consumers $60 on top of the cost of a Prime membership, which is $139 a year in the U.S. However, VP of Amazon Pharmacy John Love told Reuters the average Prime member should save $100 a year with RxPass.

Covered medications address more than 80 chronic conditions, and include drugs like the antibiotic amoxicillin, anti-inflammatory drug naproxen, estrogen steroid hormone estradiol and sildenafil, which is used to treat erectile dysfunction and sold under the brand name Viagra.

In recent years, both healthcare stakeholders and those outside the industry have launched initiatives to manufacture and sell generics to patients.

Mark Cuban, owner of the Dallas Mavericks basketball team and host of TV show Shark Tank, formed the Mark Cuban Cost Plus Drug Company roughly a year ago. The online pharmacy cuts out drug middleman and sells the medication at cost, plus a 15% markup and pharmacist fee.

In addition, a number of health systems banded together in 2018 to form nonprofit drug company CivicaRx, which began supplying member hospitals with generics one year after its launch. A subsidiary, called CivicaScript, has partnered with payers like Elevance to develop and manufacture common but pricey generics that don’t have enough market competition to drive down cost, and launched its first product in August.

Amazon’s healthcare portfolio has grown to include telehealth, wearable devices, clinical research, nutrition and more. The retail company launched Amazon Pharmacy following its PillPack acquisition in 2018 in an effort to compete with drugstores like CVS and Walgreens amid the rising need for affordable medications.

One in four Americans struggle to afford prescription drugs, and more than a fourth forgo their medications at some point due to cost, according to a Kaiser Family Foundation poll.

Amazon’s efforts to elbow into healthcare haven’t always been successful. The company shut down its hybrid care offering for employers, called Amazon Care, at the end of 2022, after flagging client demand. Another high-profile effort to lower healthcare costs, called Haven, flamed out in 2021 after a few years.

Another key prong of Amazon’s plans in healthcare include its $3.9 billion acquisition of primary care company One Medical announced last summer. The deal is currently under investigation by regulators.

And in November, Amazon announced Amazon Clinic, a virtual marketplace to connect consumers to telemedicine providers who can diagnose, treat and prescribe medication for a range of common health conditions.




Tags: Prescription Drugs

Medicare Advantage Open Enrollment Period (MA OEP)

Posted by www.psmbrokerage.com Admin on Thu, Jan 12, 2023 @ 02:45 PM

Medicare Advantage Open Enrollment Period

2023 OEP

What is the Medicare OEP (Open Enrollment Period)?

Well, it's that time of year again. Agents have just finished up the AEP season, and are now thrown into OEP.

The Medicare Advantage Open Enrollment Period (MA OEP) was reinstated in 2019 by the Centers for Medicare & Medicaid Services (CMS).

The new MA OEP replaced the previous Medicare Advantage Disenrollment Period (MADP), which only allowed people to leave MA and return to Original Medicare.


When is the Medicare OEP?

The MA OEP extends from January 1 through March 31 each year. During this time, MA-eligible beneficiaries will be able to change their MA Plan or elect Original Medicare and coverage under Part D.

The effective date for an MA OEP election is the first of the month following receipt of the enrollment request.

Note: If your client uses either the AEP or MA OEP to go back to original Medicare, it is important that they think about the various ways in which they can protect themselves from the costs associated with Original Medicare, like: deductibles, coinsurance, and co payments. They would also need to consider their prescription drug coverage.

Who can use the MA OEP?

Beneficiaries who enrolled in an MA plan as of January 1.

New Medicare beneficiaries who are enrolled in an MA plan during their ICEP.*

*Note: If a beneficiary is enrolled into an MA plan using their ICEP election, they have an open enrollment period for the next 90 days.

What changes can be made during the MA OEP?

Individuals may add or drop Part D coverage during the MA OEP. Individuals enrolled in either MA-PD or MA-only plans can switch to:

  • MA-PD
  • MA-only
  • Original Medicare (with or without a stand-alone Part D plan)

The effective date for an MA OEP election is the first of the month following receipt of the enrollment request.

Note: The MA OEP does not provide an opportunity for an individual enrolled in Original Medicare to join an MA plan. It also does not allow for Part D changes for individuals enrolled in Original Medicare, including those enrolled in stand-alone Part D plans. The MA OEP is not available for those enrolled in Medicare Savings Accounts or other Medicare health plan types (such as cost plans or PACE).

Some may see it as an opportunity and others as a bother. Nevertheless, prepare yourself and your clients and you should be able to navigate the OEP with ease.

If you have any questions or need assistance in getting appointed with our leading Medicare Advantage and Part D companiescall us today and one of our knowledgeable marketers would be happy to assist.



Tags: medicare advantage updates, medicare updates, Medicare Open Enrollment Period, OEP

PSM Agent Programs and Services Guide

Posted by www.psmbrokerage.com Admin on Thu, Jan 05, 2023 @ 09:26 AM

Tags: Guide

Introducing LifeShield Medicare Supplement Plans

Posted by www.psmbrokerage.com Admin on Thu, Jan 05, 2023 @ 09:23 AM

LifeShield blog-3

Give clients the freedom to choose. With this bundled solution from LifeShield, producers and clients can enjoy a unique and exclusive Medicare Supplement and Dental, Vision, and Hearing (DVH) combo sale opportunity with more benefits and more freedom – meeting clients' financial and coverage needs.

10% Multi-Product Discount - This multi-product discount is applied to the DVH plan when combined with an approved Medicare Supplement policy*.

Competitive Rates With Great Commissions - PAID DAILY - Policyholders can enjoy market leading rates across Plans F, G, and N, while producers can enjoy a great commission rate that’s PAID DAILY.

A Seamless eApp Experience - Point-of-sale underwriting decision notification for clean apps and declines, with 48-hour turnaround for referred underwritten cases.

Combo Sale approved in 19 states w/ more coming soon!

Medicare Supplement Highlights:

LifeShield's Medicare Supplement plans allows clients the freedom to choose the plan that best meets their financial and coverage needs without being restricted to a network provider.

  Provide clients with a plan that holistically meets their needs.

 Freedom to choose any physician or provider who accepts Medicare

 Premium charged will not change during the first year of coverage

 Guaranteed renewable

 7% Household Discount**

 Simple eApp – minimize the paperwork

Dental, Vision, and Hearing (DVH) Highlights:

  • Guaranteed issue and guaranteed renewable
  • Preventive dental care coverage from day one
  • Choice of flat or vanishing dental insurance deductible*
  • Vision and hearing discount plans help costs of care that may not be covered by Medicare
  • Generous benefit limits available up to $5,000

Become a LifeShield agent today
and start providing your clients with unbeatable coverage at an affordable price.


LifeShield National Insurance Co. is an Oklahoma City-based life and health insurance company, and a member of the LifeShield National family of insurance companies. Together with its affiliates Individual Assurance Company Life, Health, & Accident, and Life Assurance Company, LifeShield has been protecting families for nearly 50 years with affordable life, health, and accident insurance solutions to help you live the life you choose. LifeShield National Insurance Co. is rated B++ (Good), the 5th highest rating possible out of a total of 16 by AM Best, a widely recognized independent insurance industry ratings firm. For the latest rating information, visit www.ambest.com

Tags: LifeShield, Medicare Supplement plans

OEP Trainings Start in January - Register Now!

Posted by www.psmbrokerage.com Admin on Tue, Jan 03, 2023 @ 11:20 AM


OEP Training - Cigna

OEP Trainings Start in January - Register Now!


Join us in January for the first of our Medicare open enrollment period (OEP) trainings. These trainings will focus on retention, supplemental benefits, and special needs plans. In each class, you’ll learn valuable tips to help you build your sales strategy for OEP and beyond.

Please see below for an overview of our January classes.


Open Enrollment Period (OEP)

Join us as we cover the ins and outs of OEP. We’ll talk about sales opportunities, compliance guidelines, and strategies for growing your business. We’ll also provide some useful resources to help you make the most of this OEP.


Retention Strategies

Keep your customers in your book of business. In these sessions, we’ll share proven strategies to increase customer retention and reduce rapid disenrollment. 


Leveraging Medicare Advantage (MA) Supplemental Benefits

During AEP, our supplemental benefits were differentiators. Learn how our benefits compare with the competition and why they could help you make the sale this OEP.


Special Needs Plans (DSNP)

Help your customers find the right plan and increase sales. In these sessions, we’ll go over special needs plan enrollment opportunities, focusing on dual-eligible Medicare beneficiaries.


Here's how you can sign up:

Make sure to log in to Producers' University first, and then click on the links below to register. After clicking the links below and navigating to Producers' University, click on the event title and select 'Register.' After you register, you will be able to add the event to your calendar and access the webinar URL.


Monday, January 9, 2023

Retention Strategies - 2:00pm - 3:15pm, EST

OEP Training - 4:00pm - 5:15pm, EST


Tuesday, January 10, 2023

Retention Strategies - 9:00am - 10:15am, EST

OEP Training - 4:00pm - 5:15pm, EST


Wednesday, January 11, 2023

Retention Strategies - 9:00am - 10:15am, EST

OEP Training - 11:00am - 12:15pm, EST


Thursday, January 12, 2023

Retention Strategies - 11:00am - 12:15pm, EST

OEP Training - 2:00pm - 3:15pm, EST


Tuesday, January 17, 2023

Leveraging MA Supplemental Benefits - 9:00am - 10:15am, EST

DSNP Training - 4:00pm - 5:15pm, EST


Wednesday, January 18, 2023

DSNP Training - 9:00am - 10:15am, EST

Leveraging MA Supplemental Benefits - 11:00am - 12:15am, EST


Thursday, January 19, 2023

DSNP Training - 11:00am - 12:15pm, EST

Leveraging MA Supplemental Benefits - 2:00am - 3:15am, EST


Monday, January 23, 2023

DSNP Training - 2:00am - 3:15pm, EST

Leveraging MA Supplemental Benefits - 4:00pm - 5:15pm, EST




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