Medicare Advantage Open Enrollment Period With Medicare’s Annual Enrollment Period (AEP) coming to an end, agents and advisors have spent the last month enrolling Medicare beneficiaries in Medicare Advantage (MA) and Prescription Drug Plans (PDP) for 2021. Come Dec. 7 – the date AEP ends – many agents and advisors will take some well-deserved time off to recharge and reconnect with family and friends. But smart agents and advisors know that another important enrollment period starts on Jan. 1: the Medicare Advantage Open Enrollment Period (OEP). Post-Enrollment Period It’s a simple step during the AEP process to ask clients the best ways to contact them for follow up. Make a note if they prefer a phone call, email or postal mail. Confirm and document their contact information and respect their decisions. Insurance professionals ensure their clients have the best coverage by keeping the lines of communication open. Developing a follow-up system is the best way for agents and advisors to make sure their client’s plan is working for them. Agents and advisors also need to follow through with their commitments. Some insurance professionals think the burden is on clients to contact them if there are issues with a plan. Agents and advisors shouldn’t risk losing clients due to poor customer service and lack of follow up.
During OEP, the beneficiary can:
Agents and advisors need to be keenly aware that Centers for Medicare and Medicaid Services (CMS) has put in place rigid rules regarding the communications they can have with clients about OEP. We are in the business of providing exceptional services to agents and advisors. It’s more than products and services. It includes giving you the valuable insights – such as contacting a client to make sure their plan is working for them. And, if necessary, use OEP as the time to help your clients change plans.
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Medicare Blog | Medicare News | Medicare Information
2021 Medicare Advantage Open Enrollment Period (OEP)
Posted by www.psmbrokerage.com Admin on Thu, Nov 19, 2020 @ 09:37 AM
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Tags: Medicare Advantage plans, Medicare Part D, OEP, 2021
2021 Medicare Parts A & B Premiums and Deductibles
Posted by www.psmbrokerage.com Admin on Mon, Nov 09, 2020 @ 09:15 AM
2021
Medicare Part B Premiums/Deductibles Medicare Part B covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and certain other medical and health services not covered by Medicare Part A. Each year the Medicare premiums, deductibles, and coinsurance rates are adjusted according to the Social Security Act. For 2021, the Medicare Part B monthly premiums and the annual deductible are higher than the 2020 amounts. The standard monthly premium for Medicare Part B enrollees will be $148.50 for 2021, an increase of $3.90 from $144.60 in 2020. The annual deductible for all Medicare Part B beneficiaries is $203 in 2021, an increase of $5 from the annual deductible of $198 in 2020. The Part B premiums and deductible reflect the provisions of the Continuing Appropriations Act, 2021 and Other Extensions Act (H.R. 8337). CMS is committed to empowering beneficiaries with the information they need to make informed decisions about their Medicare coverage options, including providing new tools to help them make those decisions through the eMedicare initiative. In addition to the recently released premiums and cost sharing information for 2021 Medicare Advantage and Part D plans, we are releasing the premiums and cost sharing information for Fee-for-Service Medicare, so beneficiaries understand their options for receiving Medicare benefits. As previously announced, average 2021 premiums for Medicare Advantage plans are expected to decline 34.2 percent from 2017 while plan choices, benefits, and enrollment continue to increase. The Medicare Advantage average monthly premium will be the lowest in fourteen years (since 2007). Premiums and deductibles for Medicare Advantage and Medicare Part D Prescription Drug plans are already finalized and are unaffected by this announcement. Medicare Part B Income-Related Monthly Adjustment Amounts Since 2007, a beneficiary’s Part B monthly premium is based on his or her income. These income-related monthly adjustment amounts affect roughly 7 percent of people with Medicare Part B. The 2021 Part B total premiums for high-income beneficiaries are shown in the following table:
Medicare Part A covers inpatient hospital, skilled nursing facility, and some home health care services. About 99 percent of Medicare beneficiaries do not have a Part A premium since they have at least 40 quarters of Medicare-covered employment. The Medicare Part A inpatient hospital deductible that beneficiaries will pay when admitted to the hospital will be $1,484 in 2021, an increase of $76 from $1,408 in 2020. The Part A inpatient hospital deductible covers beneficiaries’ share of costs for the first 60 days of Medicare-covered inpatient hospital care in a benefit period. In 2021, beneficiaries must pay a coinsurance amount of $371 per day for the 61st through 90th day of a hospitalization ($352 in 2020) in a benefit period and $742 per day for lifetime reserve days ($704 in 2020). For beneficiaries in skilled nursing facilities, the daily coinsurance for days 21 through 100 of extended care services in a benefit period will be $185.50 in 2021 ($176.00 in 2020).
For more information on the 2021 Medicare Parts A and B premiums and deductibles (CMS-8074-N, CMS-8075-N, CMS-8076-N), please visit:
Part A premium Most people don't pay a monthly premium for Part A (sometimes called "premium-free Part A"). If you buy Part A, you'll pay up to $458 each month in 2020 ($471 in 2021). If you paid Medicare taxes for less than 30 quarters, the standard Part A premium is $458 ($471 in 2021). If you paid Medicare taxes for 30-39 quarters, the standard Part A premium is $252 ($259 in 2021).Part A hospital inpatient deductible and coinsurance You pay:
Part B premium Part B deductible and coinsurance $198 ($203 in 2021). After your deductible is met, you typically pay 20% of the Medicare-approved amount for most doctor services (including most doctor services while you're a hospital inpatient), outpatient therapy, and durable medical equipment (dme) Part C premium Part D premium ![]() |
Tags: Medicare, CMS, Medicare Premiums, deductibles, 2021
An Early Look at 2021 Medicare Advantage Benefits
Posted by www.psmbrokerage.com Admin on Wed, Oct 21, 2020 @ 10:58 AM
An Early Look at 2021 Medicare Advantage Benefits
Now that marketing for Plan Year 2021 is underway, this is an excellent time to check on 2021 MA supplemental benefits and compare them to supplemental benefits in 2018, 2019 and 2020.
As shown in Table 1 below, the most popular supplemental benefits continue to be benefits with a long history in the MA program — including optical, audio and dental benefits, and relatively low-cost benefits that plug holes in original Medicare’s idiosyncratic benefit structure.
While readers familiar with MA benefits will not be surprised by the benefits on this list, they might be surprised by how many plans continue not to offer them.
Figure 1 below shows that, across the board, the number of plans that offer the most popular supplemental benefits has increased every year since 2018.
Figure 2 below analyzes the annual change in the percentage of MA plans offering the top eight supplemental benefits compared to total plans offered.
We saw a decrease in outpatient blood services, a benefit that is difficult to market, as plans increase more marketable supplemental benefits. All other popular benefits are increasing in frequency.
The percentage of total plans offering hearing aids, for example, as a supplemental benefit was the largest increase.
Over the last two years, we have consulted a number of MA organizations, associations and vendors about the new supplemental benefit flexibilities.
In these touch points, certain benefits are consistently discussed for their potential to provide a positive return on investment (because the costs avoided as a result of the benefit exceed the cost of the benefit) or marketing sizzle.
Figure 3 below shows the rising popularity of these most discussed benefits.
Readers will note that some of the benefits (Comprehensive Dental and Over-the-Counter Drugs, in particular) are now common MA plan offerings. Transportation and meal benefits are also gaining in popularity.
Other much-talked-about benefits, such as in-home support, remain uncommon but are growing.
Still, other benefits have been the subject of much discussion for their potential to treat chronic conditions in new ways.
These range from covering new provider types — such as acupuncturists, therapeutic massage and chiropractors (beyond existing Medicare-covered chiropractic services) — to creative benefits that increase member safety, such as bathroom/home safety devices.
Figure 4 below demonstrates a considerable rise in the number of MA plans covering new provider types, particularly with regard to acupuncture and chiropractic services.
Tags: Medicare Advantage, 2021
2021 UnitedHealthcare Medicare Advantage / PDP Certification Now Available
Posted by www.psmbrokerage.com Admin on Tue, Jun 30, 2020 @ 12:56 PM
2021 UnitedHealthcare Medicare Advantage / PDP Certification 2021 UnitedHealthcare Medicare Solutions Certification Now Available Precision Senior Marketing |
Tags: Medicare Advantage, Medicare Part D, AEP, certification, AHIP, 2021
2021 Humana Medicare Advantage / PDP Certification Now Available
Posted by www.psmbrokerage.com Admin on Tue, Jun 30, 2020 @ 12:45 PM
2021 Humana Medicare Advantage / PDP Certification Precision Senior Marketing |
Tags: Humana, Medicare Advantage, Medicare Part D, AEP, certification, AHIP, 2021
Countdown to the 2021 AEP: AHIP, Company Certifications, Expansions and First Looks
Posted by www.psmbrokerage.com Admin on Mon, Jun 29, 2020 @ 03:55 PM
Countdown to the 2021 AEP
With the 2021 AEP upon us, now is a great time to make sure you are preparing and staying ahead of the curve. AHIP Medicare Training has been released and we are also starting to get details on carrier-specific certifications as well as 2021 plan benefits and roll-out dates. Take a look at what is available now and keep a look out for future updates as we get closer to AEP. ✪ 2021 AHIP Training Precision Senior Marketing is proud to be able to help support our agents that sell Medicare Advantage and Prescription Drug Plans. That's why our agents will be able to access AHIP's 2021 Medicare certification for only $125. That's a $50 savings to you just for being part of our team. www.YourMedicareAHIP.comAs an added "Thank You" to our writing agents we would like to pay for 100% of your AHIP costs after you have five issued 2020 Medicare Advantage enrollments. Ask your Marketer for details. *This is only available to street level agents contracted directly with Precision Senior Marketing. ✪ 2021 Carrier Specific Certifications To keep things simple, we have all the carrier specific certification instructions available on our certification page. Most will require you complete AHIP in advance, but not all. Please take the time to review the requirements for the different carriers you represent. Carrier Specific Certification Instructions ✪ 2021 Medicare Advantage and PDP First Looks As we receive first looks and product information from the carriers we represent, we will be sharing those details with our agents. You can sign up to receive this information by visiting the following web page and completing the form. You can also call one of our marketing representatives at 800-998-7715 and ask for more details. ✪ Online Quoting Tools and Submission Platforms PSM Has made significant investments to make sure our agents have access to the best in class quoting tools and online submission platforms. Even better, these tools are provided at no cost to our contracted agents. Please visit the following web page for more details and to request access. ✪ Lead Incentives and Opportunities PSM is proud to be able to help support our directly contracted Medicare agents.For every ten (10) Medicare Supplement* or Medicare Advantage enrollments placed and issued, you will qualify for a complimentary 1,000 piece lead mailer*. This offer includes the postage, printing, mailing data and return postage on all submitted business return cards ~ ZERO cost to you! View more details by visiting our Lead Incentives web page For agent use only. Not for use with consumers. Certain exclusions and limitations may apply. Not affiliated with the United States government or the federal Medicare program. Enrollments for this promotion must be with carriers the agent is appointed with through Precision Senior Marketing. Eligibility for this program will be determined by PSM. Only directly contracted writing agents may participate. Lead vendor and mailers for this program will be determined by PSM, and cash equivalents and reimbursements will not be offered. Agent must be trained and certified and must abide by PSM’s compliance program.
✪ Service and Support As a reminder, We pride ourselves on a "Do the Right Thing" approach and will go above and beyond to service the needs of our agents. We look forward to having a successful AEP and supporting you with products, technology and the personalized service you have come to expect from PSM. We appreciate the opportunity to earn your business and wish you the best!
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Tags: Medicare Advantage, Medicare Part D, AEP, certification, AHIP, 2021
AHIP 2021: New Training Layout for the Marketing Medicare Advantage + Fraud, Waste and Abuse Program
Posted by www.psmbrokerage.com Admin on Thu, Apr 30, 2020 @ 10:14 AM
AHIP 2021: New Training Layout for the Marketing Medicare Advantage + Fraud, Waste and Abuse Program |