On behalf of PSM Brokerage, we extend our heartfelt thanks to each of you who participated in this year's NABIP-TX Annual Conference for insurance agents. Your presence and engagement made the event a resounding success!

We hope you found the sessions enlightening and beneficial, especially the insights on how to build an effective team, and the valuable discussions on understanding loss ratios, company data, and managing carrier books of business. The focus on Senior Dental Plans and the artful strategies behind Cross Selling provided tools that will help you secure and expand your client base.

Additionally, we hope the in-depth sessions on leveraging social media effectively with JoAnna Barker and understanding the evolving landscape of 2025 Marketing Rules and CMS Regulations with Danielle Kunkle Roberts have equipped you with the necessary skills to optimize your marketing efforts and stay compliant in your practices.

The insights provided by Greg Segovia III on the Ins and Outs of an FMO relationship and Sydney Schoellman’s guidance on navigating the escalation path with your carriers are crucial tools for enhancing your business operations and improving your professional interactions. These sessions were designed to give you a comprehensive toolkit for tackling the complex challenges of today’s insurance market, ensuring that you are well-prepared to meet and exceed your professional goals.

Your enthusiasm and active participation are what drive PSM to sponsor these unique and proprietary learning experiences. We are thrilled to support your journey as you implement some of these strategies to grow and scale your businesses.

Thank you once again for your participation and for making the conference a memorable gathering. We look forward to seeing you next year with even more engaging content and networking opportunities to help you succeed in the dynamic world of insurance.

Utilizing our insurance agent resource guides can significantly benefit your business by equipping you with the tools and knowledge to thrive in a competitive landscape. These comprehensive guides are designed to help you grow your client base, attract more referrals, and seamlessly expand into new markets.

By leveraging up-to-date industry insights, marketing strategies, and detailed market analyses, you can enhance your service offerings and tailor your approach to meet the specific needs of various customer segments. Additionally, our guides offer practical tips on networking and building stronger relationships, ensuring that you not only reach potential clients more effectively but also create lasting connections that foster loyalty and word-of-mouth referrals.

With these resources at your disposal, you're well-prepared to elevate your business and secure a prominent position in the insurance industry.

At PSM Brokerage, we are committed to supporting our agents every step of the way as you expand your reach, increase your sales, and achieve new heights of professional success.

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For agent use only.

Offering hospital indemnity plans allows insurance professionals to meet the evolving needs of healthcare consumers, provide valuable supplemental coverage, and offer added financial protection in times of medical uncertainty.

By providing fixed benefits for hospital stays and medical services, hospital indemnity plans offer a layer of financial protection that helps individuals manage unexpected healthcare costs more effectively.

Download this helpful resource today.

In this episode, Jamie Sarno dispels the misconception that Hospital Indemnity hinders closing a Medicare Advantage sale, labeling it as fiction. He articulates how agents who offer diverse insurance product bundles actually experience higher retention rates compared to those who do not.

Our Drip the HIP video series has the inside scoop on hospital indemnity plans (HIP). Gain invaluable insights on seamlessly filling the gaps for your MA clients in need of extra coverage, and discover the power of building a compelling case for a hospital indemnity plan. Elevate your skills, boost retention, and unlock the potential for a robust hospital indemnity plan.

View PSM Hospital Indemnity Portfolio

Start selling AdvantageGuard today!

AdvantageGuard, the new Hospital Indemnity product underwritten by Golden Rule Insurance Company, a UnitedHealthcare company, launches in District of Columbia and 15 additional states: Alaska, Colorado, Delaware, Hawaii, Kentucky, Maine, Minnesota, Mississippi, North Dakota, New Hampshire, Ohio, Rhode Island, South Carolina, South Dakota, Wyoming.

In this comprehensive agent training session, we will conduct an in-depth exploration of benefits offered by the AdvantageGuard Hospital Indemnity plan, along with a detailed analysis of the eligibility criteria. 

Explore AdvantageGuard benefits

Clients can choose the benefits that best fit their needs and budget, all backed by a insurer with an "A+" AM Best rating². AdvantageGuard offers convenient cash benefits paid to the insured, making it a smart choice for clients who want help with covering out-of-pocket expenses, like their Medicare Advantage plan copays.

Request details today and start offering this new plan to your clients. Precision Senior Marketing is an independent broker agency offering plans underwritten by Golden Rule Insurance Company and other insurers.

¹Payable per day (limits apply) when Insured Person receives a prescription delivered by injection in an outpatient provider setting. State variations apply. Not available in all states. 

²Additional premium applies.

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Agents Only. Not Intended For Consumer Use

In 2024, the insurance industry is poised to experience a significant surge in demand, thanks to a record number of Baby Boomers reaching retirement age. This demographic milestone opens up a vast opportunity for insurance sales, particularly in areas directly relevant to retirees. Products like Medicare Advantage, Medicare supplements, long-term care insurance, and life insurance policies that offer financial security and peace of mind to seniors are likely to see increased interest.

As this age group transitions into retirement, their focus shifts towards managing health expenses, securing lifelong income, and ensuring a legacy for their loved ones, making them ideal candidates for these types of insurance products.

Moreover, this shift isn't just about numbers; it's about changing needs and priorities. Financial planning services, annuities, and final expense insurance are also areas ripe for growth, as more Boomers seek to safeguard their retirement savings and plan for the future. Insurance agents and companies who can effectively communicate the value and relevance of their products to this demographic stand to benefit significantly.

The opportunity is here!

The role of an independent insurance agent catering to the senior demographic offers more than just a career; it presents a pathway to a fulfilling, flexible, and financially rewarding profession. In the face of the growing senior market, the ability to generate residual income, and the autonomy of being your own boss, this career path stands out as an excellent choice for those looking to make a positive impact while building a sustainable business. As the population ages, the need for knowledgeable, compassionate, and dedicated Medicare plan agents will only grow, making now an ideal time to step into this rewarding field.

Work with a trusted partner

We take pride in providing our agents with high quality senior insurance products that bring a sense of security and peace of mind to the nation's exploding senior population. Our experienced insurance marketing team provides our agents with a robust product portfolio, game-changing technology and unrivaled support. We look forward to showing you how we can personalize our services to help grow your business.

Related Article:
https://www.cbsnews.com/news/retirement-medicare-401k-what-to-know-peak-65/ 

Start selling AdvantageGuard today!

AdvantageGuard offers broad, customizable solutions for clients seeking easy and reliable hospital indemnity coverage. With guaranteed issue coverage options for seniors aged 60-74¹ and a focus on flexibility and affordability, AdvantageGuard makes it easy to find the help they may need with unexpected costs.

Your client's new option for help covering Medicare Advantage plan copays

Clients can choose the benefits that best fit their needs and budget, all backed by a insurer with an "A+" AM Best rating². AdvantageGuard offers convenient cash benefits paid to the insured, making it a smart choice for clients who want help with covering out-of-pocket expenses, like their Medicare Advantage plan copays.

Request details today and start offering this new plan to your clients. Precision Senior Marketing is an independent broker agency offering plans underwritten by Golden Rule Insurance Company and other insurers.

 
1Guaranteed Issue cases must be equal to or less than the GI max allowable base and rider benefit selections. Applications submitted where one or more base or rider benefits exceeds the allowable GI max will be subject to Simplified underwriting.

212-month Commission Advance is only available through YourFMO.com, LLC. contract

3Payable per day (limits apply) when Insured Person receives a prescription delivered by injection in an outpatient provider setting.

4Ratings as of 12/09/2022. This worldwide, independent organization reviews insurance companies and other businesses and publishes opinions about them. This rating is an indication of financial strength and stability. For the latest rating, access www.ambest.com.

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Agents Only. Not Intended For Consumer Use.

Wellabe is excited to announce that we are expanding our guaranteed issue period on our Hospital Indemnity insurance product. Starting Nov. 1, 2023, applicants between the ages of 60 and 79 at the time the application is signed will be guaranteed issue.

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About Wellabe

We are in a people helping people business, and our entire team is dedicated to always being here for our customers. That’s actually where the name Wellabe comes from – the phrase “we’ll always be.” We’ll always be here for our customers, fulfilling our promises and helping them be well. Even 90-plus years later, we are still caring for our customers, pushing boundaries, embracing growth, and transforming our organization.

Your client's new option for help covering Medicare Advantage plan copays

AdvantageGuard offers broad, customizable solutions for clients seeking easy and reliable hospital indemnity coverage. With guaranteed issue coverage options for seniors aged 60-74¹ and a focus on flexibility and affordability, AdvantageGuard makes it easy to find the help they may need with unexpected costs.

Clients can choose the benefits that best fit their needs and budget, all backed by a insurer with an "A+" AM Best rating². AdvantageGuard offers convenient cash benefits paid to the insured, making it a smart choice for clients who want help with covering out-of-pocket expenses, like their Medicare Advantage plan copays.

If you would like to get contracted to sell AdvantageGuard or other Golden Rule Insurance Company products, click here to get started.

Precision Senior Marketing is an independent broker agency offering plans underwritten by Golden Rule Insurance Company and other insurers.

 
1Guaranteed Issue cases must be equal to or less than the GI max allowable base and rider benefit selections. Applications submitted where one or more base or rider benefits exceeds the allowable GI max will be subject to Simplified underwriting.

212-month Commission Advance is only available through YourFMO.com, LLC. contract

3Payable per day (limits apply) when Insured Person receives a prescription delivered by injection in an outpatient provider setting.

4Ratings as of 12/09/2022. This worldwide, independent organization reviews insurance companies and other businesses and publishes opinions about them. This rating is an indication of financial strength and stability. For the latest rating, access www.ambest.com.

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Agents Only. Not Intended For Consumer Use.

Insurance agents can have successful careers building a significant client base by selling Medicare Advantage (MA) coverage to beneficiaries. Agents wanting to expand their business beyond MA coverage and move their earnings to new levels can do that holistically with ancillary products. Along with the potential for increased revenue, agents cross-selling ancillary products could help their clients save money on health care expenses while setting themselves apart from the competition.

One cross-selling technique is packaging MA and ancillary products as a bundled approach. This minimizes the likelihood of clients seeking alternative coverage options,
which increases their long-term commitment to their agents and their carriers. The key isn't only knowing all available products and coverage benefits, but how they compliment MA coverage to best meet your client’s needs.

It’s important to remember that 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 during individual appointments, marketing/sales events or when providing Medicare plan enrollment materials (such as the “Enrollment Guide”) to consumers.

Let’s breakdown the three most popular ancillary products.

HOSPITAL INDEMNITY PLANS

Hospital Indemnity (HI) plans provide Medicare beneficiaries with financial protection for medical expenses associated with daily hospital confinement, ambulance rides, diagnostic tests, lab work and prescription medications.

Agents can share with clients that the plans are designed to supplement other health insurance policies and can cover deductibles, copayments and other out-of-pocket costs. HI policies don't have network restrictions, meaning policyholders can choose providers that are both in and out-of-network. Networks become very important, especially when a person wants treatment at the best facility available after a diagnosis of a critical or complex disease, such as cancer, renal failure or heart disease. An added benefit: many HI plans come with riders, such as coverage for cancer costs, emergency room visits and outpatient services.

FINAL EXPENSE PLANS

Final Expense (FE) policies provide clients with a sense of security for their loved ones and protect them from unforeseen costs associated with medical bills and funeral costs. With the right guidance and product knowledge, agents can provide their customers
with quality coverage at affordable rates. Clients would be interested in knowing that
FE qualification thresholds are usually much lower than for other life insurance policies
regarding a policyholder’s health.

Agents can also stress that FE products go beyond burial costs and can include leaving financial gifts for clients’ family members that can go to settling debts.

DENTAL, VISION AND HEARING (DVH) PLANS

Dental, Vision and Hearing (DVH) coverage can increase a client’s financial protection
beyond what is available through traditional MA plans. Agents can let clients know that as they age, they are at a higher risk of needing DVH-related care. DVH plans offer additional access to coverage for these unexpected costs not covered by some Medicare plans.

TAKING ADVANTAGE OF THE ANCILLARY MARKETPLACE

The ancillary marketplace lets agents leverage their already-existing client base and build longer-term relationships with them through cross-selling opportunities. Once agents are comfortable with selling MA products, they can take the following steps to move into the ancillary marketplace:

• Learn about the available products and coverage benefits.
• Do the homework and uncover how ancillary products can complement clients’ current coverage.
• With recent changes in CMS guidelines, it’s important to understand their impact on cross-selling opportunities. Ensure you understand all government, state and local regulations.
• Contact your clients and holistically market these plans. Agents who want to grow their business beyond Medicare products would be well advised to consider the holistic nature of ancillary products. These plans can diversify their product portfolios and maximize their earnings while providing their clients with added protections from unanticipated medical costs.
  
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“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.

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