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Tags: Leads, CMS, Insurance Marketing, Enrollment Tools, Rewards Program, Guide, Resources
Preparing for the 2024 Annual Enrollment Period
Posted by www.psmbrokerage.com Admin on Thu, Sep 07, 2023 @ 03:58 PM
Preparing for the 2024 Annual Enrollment Period (AEP)Preparing for the 2024 Annual Enrollment Period (AEP) in the Medicare market requires strategic planning and a proactive approach to effectively meet the needs of beneficiaries. As this critical period approaches, there are several key steps to consider in order to maximize your success and provide valuable services to your clients. First and foremost, staying updated on changes to Medicare regulations, plan offerings, and industry trends is paramount. The healthcare landscape is constantly evolving, and being well-informed positions you as a reliable source of information for beneficiaries seeking the right coverage. Attend seminars, webinars, and training sessions provided by insurance carriers to ensure you're up-to-date with the latest developments. Reviewing your marketing and outreach strategies is essential to engage potential clients during the AEP. Refresh your online presence by updating your website, social media profiles, and other digital channels. Consider creating informative content such as blog posts, videos, and downloadable guides that address common questions and concerns about Medicare plans. Tailoring your messaging to highlight the advantages of different plans can help beneficiaries make informed decisions. Focusing on compliance is also crucial during the AEP. Familiarize yourself with the Medicare Marketing Guidelines issued by the Centers for Medicare & Medicaid Services (CMS). These guidelines outline the dos and don'ts of marketing Medicare plans. Ensuring that your marketing materials are accurate, transparent, and compliant will maintain your reputation and prevent potential legal issues. Lastly, anticipate the surge in inquiries and be prepared to offer personalized assistance to beneficiaries. Consider implementing systems to manage incoming queries efficiently, whether through your website, email, or phone. Providing clear and concise information, as well as addressing concerns promptly, can set you apart as a trustworthy advisor. By offering exceptional customer service, you'll establish strong relationships with clients that extend beyond the AEP. By strategically approaching this period, you'll not only serve your clients effectively but also position yourself as a knowledgeable and reliable Medicare advisor. At PSM, we are committed to providing our agents with a range of resources and support to help them succeed. From personalized marketing materials to interactive sales strategies, our goal is to empower agents with the latest tools, technology and mentorship to achieve new levels of success this AEP. AEP Resources: Powerful Partnerships: We are committed to providing our agents with a range of resources and support to help them succeed: Our powerful partnerships include: Strong relationships with insurance carriers and industry experts to provide agents with access to the best products, tools, and support. AEP Helpful Guides: We are here to 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 plans, CMS, AEP, medicare supplement insurance, Compliance, Marketing, Best Practices, 2024
Inflation Reduction Act: Update on CMS Implementation
Posted by www.psmbrokerage.com Admin on Mon, Aug 28, 2023 @ 10:40 AM
This law means millions of Americans across all 50 states, U.S. territories, and the District of Columbia will save money from meaningful benefits. The Inflation Reduction Act is accomplishing the following just one year after being enacted:
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Tags: Medicare Advantage, Medicare Supplement, Medicare Part D, CMS
New Medicare Marketing Rules Require Agents to Rethink Established Sales Practices
Posted by www.psmbrokerage.com Admin on Thu, Aug 10, 2023 @ 12:12 PM
“Medicare beneficiaries were at the center of the conversation when CMS enacted new marketing rules earlier this year. But with these changes agents may find they will need to pivot from their familiar marketing approach.” Good news: PSM anticipated these changes and activated a task force to study the published rules and clarify any implications for agents. More good news: With AEP a few short weeks away, agents have the tools to ensure your marketing efforts and activities are compliant with the new rules. Let’s look at the rules changes.
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Tags: CMS, Insurance Marketing, AEP
July 7 marked 100 days until the start of Medicare's Annual Enrollment Period – affectionally known as AEP – and it's time to get excited! With new rules and regulations from CMS taking affect and new carrier products to learn and master, it's important that all of us to stay up to date and think through our collective strategies. According to recent statistics, more than 30 million Americans are enrolled in Medicare Advantage plans, making them eligible to sign up or renew their coverage during this AEP and start their new Medicare benefits on Jan. 1, 2024. The best way to stay informed and prepared for the upcoming enrollment period is through research and leaning in to all the available resources at your fingertips. Make sure to review the new CMS rules and regulations as they are released and familiarize Get to know the Medicare products you are selling! Become knowledgeable about the benefits of the different plans available, rate changes heading into 2024, and competitiveness of the offerings in the areas you serve. Check out the new 2024 Medicare Advantage and Part D Rate Announcement Fact Sheet and the 2024 Medicare Advantage and Part D Final Rule – both available on the CMS.gov website. Now is the time to reconnect with key clients ahead of the AEP 2024 selling season. Take At the same time, now is also the time to start strategizing for how you’ll achieve your objectives this AEP, noting the important role this selling season plays in setting the tone for the new year. It starts with recruiting and certifications, and then fleshing out your game plan for how you’ll drive productivity throughout the AEP selling season. Figure out which platforms you want to use, create and organize your promotional materials and plan out how you’ll drive activity. Doing this ahead of time will ensure that you are well prepared when the enrollment period begins. And don’t forget about our AEP Resource Page as your one-stop shop. We are prepared to help you execute your AEP objectives The complexity of the AEP process and the everchanging landscape of health care requires a comprehensive understanding of different types of plans and coverage options, timelines, and deadlines associated with AEP. Preparing your team for AEP is key! PSM’s approach - crafted and fine-tuned - takes a holistic approach to insurance distribution, one that allows us to create tailored partnership models with our agents and financial professionals and their affiliated companies to deliver what they and their clients need. This includes a product portfolio of the nation’s best health and wealth solutions designed to meet the needs of consumers’ health and financial wellbeing, no matter where they are on their retirement journey. The start of Medicare’s Annual Enrollment Period is just around the corner, and the time to prepare is now. Research the new rules and regulations, familiarize yourself with the different plans, and map out strategies that align with your goals. With the support and preparation from your PSM team, you will be ready and excited to help your clients make the best choices to live a happy, healthy retirement. The AEP is right around the corner and there are some exciting opportunities on the horizon for 2024. Get prepared early to ensure a successful Annual Enrollment Period. We are here to help!
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Tags: Online Enrollment, Medicare Advantage, CMS, AEP, Compliance, 2024, Resources
Marketing Masterminds: Unlock qualified leads that call YOU
Posted by www.psmbrokerage.com Admin on Mon, Jul 17, 2023 @ 12:58 PM
![]() Check out the latest Marketing Masterminds webinar to learn how our direct qualified leads can help you win big this AEP. Recorded webinar link available here.
Marketing Masterminds: Mastering Inbound Calls with LeadStar Marketplace William and Megan discuss the need to launch campaigns on a monthly basis and the benefits of using the Lead Star marketplace for inbound calls, highlighting cost savings for agents and agencies. They also highlight the platform's performance for Medicare data leads, with a better than average CPA. Recorded webinar link available here. |
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Tags: CMS, Compliance, LeadStar, Medicare leads
Impacts of the 2024 CMS Final Rule
Posted by www.psmbrokerage.com Admin on Mon, Jul 17, 2023 @ 12:39 PM
Before we dive in, it's crucial not to solely depend on these key points, as they are only a portion of the overall impact. We strongly advise reviewing the regulation and guidance thoroughly in order to gain a comprehensive understanding of each requirement and the potential changes you may need to implement. Also, be sure to visit https://yourfmo.com/cms-faqs which is frequently updated as we receive guidance from CMS and our carrier partners. Sales and Marketing Activities
Marketing Materials
For Agent Use Only.
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Tags: Medicare Advantage, CMS, Compliance
2024 FMV Medicare Advantage & PDP Commissions Announced
Posted by www.psmbrokerage.com Admin on Thu, Jun 22, 2023 @ 09:32 AM
2024 Commissions for MA, PDP and referrals have been announced. We have highlighted the 2024 document changes below. You can review the official CMS notice here. Over the last decade the National rate for MA first year and renewal commissions have increased by 50%.
NOTE: CMS rounded the FMV amounts for CY 2024 up 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, for a like plan type. The AEP is right around the corner and there are some exciting opportunities on the horizon for 2024. Get prepared early to ensure a successful Annual Enrollment Period. We are here to help! Resources: |
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Tags: Medicare Advantage, Referrals, Medicare Part D, CMS, commissions
ACA Marketplace: New CMS Consent Rules Effective 6/18/23
Posted by www.psmbrokerage.com Admin on Mon, Jun 19, 2023 @ 10:50 AM
Source: HealthSherpa CMS covered their new rules around Consent and Review for all marketplace enrollments at their CMS Summit for Agents and Brokers on 5/24/2023. These rules build upon the existing rules that were outlined in the 2022 Understanding Marketplace Compliance Rules & Regulations slides, as well as the various FAQs that address Consent and PII rules and regulations. When comparing the 2023 Understanding Key CMS Rules and Regulations to Maintain Marketplace Compliance slides to the Rules and Regulations from previous plan years, the following are some of the key additional requirements that will need to be met in addition to past guidance. This is not an exhaustive list, so be sure to review the 2023 Rules and Regulations yourself when developing your consent documenting systems for PY 2024. Consent Documentation Requirements:
Remember, all of the rules and regulations around consent and client review are to help you protect your client and your relationship with your client. Download the CMS Model Agent Broker Consent Form. Source: HealthSherpa |
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Your Questions About CMS’s New Rules, Answered
Posted by www.psmbrokerage.com Admin on Mon, May 22, 2023 @ 02:47 PM
On April 5, 2023, the Centers for Medicare & Medicaid Services (CMS) issued long-awaited rules pertaining to, among other matters, the marketing of Medicare Advantage (MA) plans. YourMedicare and its partners had been anticipating these changes and have activated a task force to study the newly published rules in detail and clarify their implications for our affiliated agents’ businesses. The FAQ is the culmination of that effort. Here you will find answers to a number of questions we have received since April 5, as well as clarification on the new rules our team is proactively providing.
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Tags: Medicare Advantage, CMS, medicare changes, medicare marketing guidelines