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Top 10 Insights on Dual-Eligible Special Needs Plans (D-SNPs) in Medicare Advantage

Posted by www.psmbrokerage.com Admin on Wed, Feb 14, 2024 @ 09:37 AM

Top 10 Insights on Dual-Eligible Special Needs Plans (D-SNPs) in Medicare Advantage

This brief highlights 10 things to know about D-SNPs, including national and state enrollment trends, plan availability, insurer participation, benefits, and prior authorization rates and denials, based on data from various sources.

View Brief

 

Tags: Medicare Advantage, DSNP

Cigna to sell Medicare Advantage plans to Blue Cross Blue Shield insurer for $3.3 billion

Posted by www.psmbrokerage.com Admin on Thu, Feb 01, 2024 @ 03:53 PM

cigna news

Cigna is officially exiting the Medicare business, agreeing to sell all of its Medicare insurance plans to Health Care Service Corp., a large Blue Cross Blue Shield insurer, for $3.3 billion. Read more here.

A message to brokers from Cigna can be found here.

 

Tags: Cigna, Medicare Advantage

UHC AdvantageGuard launches in 16 new states

Posted by www.psmbrokerage.com Admin on Tue, Jan 30, 2024 @ 09:05 AM

AdvantageGuard release

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. 

Unlock your earning potential

During your first 60 days appointed to sell, earn a one-time $100 bonus on top of your regular commission when your first two AdvantageGuard pieces of business are issued.

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.

UHC GR logo

 


 

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.

50516-G-1223
Agents Only. Not Intended For Consumer Use

 

Tags: Hospital Indemnity, Medicare Advantage, AEP

2024: Unprecedented Opportunity in Insurance as Record Boomers Hit Retirement

Posted by www.psmbrokerage.com Admin on Wed, Jan 24, 2024 @ 11:05 AM

boomers-1

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/ 

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For Agent Use Only. Not for the general public.

 

Tags: Final Expense, Annuities, Hospital Indemnity, Medicare Advantage, Medicare Supplement

Medicare Advantage Maintains Upward Trend

Posted by www.psmbrokerage.com Admin on Tue, Jan 23, 2024 @ 02:46 PM

mark farrahThe Medicare Open Enrollment Period, also known as the “Medicare Advantage (MA) and Prescription Drug Plan (PDP) annual election period” or “AEP,” occurs annually from October 15th to December 7th. As of early 2024, there's a consistent increase in MA enrollments from January 2020, reaching nearly 33.5 million, while PDP enrollments have started to recover after a downward trend, now at 23 million.

VIEW BRIEF

 

Tags: Medicare Advantage, Medicare Part D

CMS Prior Authorization Rule and the Impact on Insurers

Posted by www.psmbrokerage.com Admin on Tue, Jan 23, 2024 @ 09:30 AM

CMS Prior Authorization Rule and the Impact on Insurers

The CMS prior authorization rule significantly impacts insurers by mandating more efficient and transparent prior authorization processes, particularly for Medicare and Medicaid plans. This rule compels insurers to adopt standardized electronic communication methods, enhancing administrative efficiency and patient care coordination.

While it may initially increase compliance costs due to necessary IT upgrades and procedural changes, it aims to reduce inappropriate denials and appeals, thereby potentially lowering long-term operational costs. Insurers will need to adjust their prior authorization criteria and reporting practices, ensuring better patient outcomes and higher satisfaction, which could ultimately lead to cost savings and improved service quality.

Here's how this rule generally affects insurers:

Increased Administrative Efficiency: The rule aims to standardize and streamline the prior authorization process. Insurers are expected to adopt more efficient electronic communication methods, which can reduce administrative burden and costs over time.

Enhanced Transparency: Insurers are required to be more transparent about their prior authorization requirements and policies. This can involve publicly disclosing the rationales for denials and providing specific information about the services that require prior authorization.

Improved Patient Care Coordination: By requiring insurers to expedite the prior authorization process, the rule intends to minimize delays in patient care. This may lead to better coordination and continuity of care.

Potential for Increased Compliance Costs: Implementing standardized electronic processes and adhering to new transparency requirements may initially increase operational costs for insurers. This includes costs related to upgrading IT systems, training staff, and modifying existing procedures.

Impact on Clinical Decision-Making: Insurers may need to adjust their criteria for prior authorization to align with the new rules. This could affect how they manage approvals for certain treatments or medications.

Data Reporting Requirements: Insurers might be required to report on their prior authorization activities, including denial rates and the average time taken to respond to requests. This adds an additional layer of data management and reporting.

Potential Reduction in Denials and Appeals: The standardization and transparency required by the rule could lead to a decrease in inappropriate denials, thereby reducing the volume of appeals insurers need to process.

Quality of Care and Patient Satisfaction: Improved and quicker prior authorization processes can lead to better patient outcomes and higher patient satisfaction, which is beneficial for insurers in terms of reputation and patient trust.

Adaptation to Technology Standards: Insurers will need to ensure that their electronic communications meet the technical standards set by CMS, which may require significant IT infrastructure adjustments.

Long-Term Cost Savings: While there might be initial costs associated with complying with the new rule, in the long run, the efficiencies gained could lead to cost savings for insurers.

Insurers must stay informed and adapt to these changes to remain compliant with CMS regulations while continuing to provide effective services to their beneficiaries.

You can view the details here.

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For Agent Use Only. Not for the general public.

 

Tags: Medicare Advantage, Medicare Part D, CMS

URGENT: Take Action to Prevent a CMS Rule Change

Posted by www.psmbrokerage.com Admin on Tue, Jan 02, 2024 @ 02:05 PM

important request-1CMS has proposed new regulations that will impact agent and broker compensation – as well as potentially disrupt the FMO support model. Time is running out for your voice to be heard and influence the final rule!

Precision Senior Marketing is actively engaging with CMS, and subsequently lawmakers in DC, to influence the final language of the proposed rule. The first and primary method to influence the final rule is through the comment letter process. Comment letters on this proposed rule are due to CMS no later than January 5th at 5PM ET.

As a critical stakeholder, we encourage you to write your own letter to CMS explaining the significant value that Agents and FMOs provide to American seniors in MA distribution and post-enrollment support. Your efforts here can play a vital role in shaping the final rule that CMS will enact. To help you draft an effective 1-page comment letter, we have provided detailed guidance on yourFMO.com.

GUIDANCE ON HOW TO DRAFT YOUR LETTER – CLICK HERE
(Note: See the FAQ ”I’m an agent – how can I get involved”.)

NOTE: CMS discounts form / templatized letters – so to ensure the greatest impact of your submission, we have provided bullets for you to consider to include or summarize, in your words, for your own unique letter. This should allow you to craft an impactful letter in as little as 10 minutes.

CREATE AND SUBMIT YOUR LETTER TO CMS – CLICK HERE

Will you join us in the effort to protect agents, brokers, and FMOs – and educate Washington on the vital role we play in ensuring consumers are placed in the right plan for their healthcare needs?

thank you-2For Agent Use Only. Not for the general public.

 

Tags: Medicare Advantage, Medicare Supplement, CMS

Understanding the Proposed CMS Rules

Posted by www.psmbrokerage.com Admin on Wed, Dec 27, 2023 @ 11:59 AM

Understanding the Proposed CMS Rules

As you’re aware, CMS recently issued proposed amendments to its regulations governing the 2025 Medicare Advantage Program (MA) and Medicare Prescription Drug Benefit Program (PDP). Click here to read the proposed rules.

As conversations about these proposed rules have continued with our partners and throughout our industry, there remains much confusion surrounding the impact these proposed rules may have on our industry. As such, we’ve prepared a FAQ page designed to clarify our interpretation of the rules and how you should view them.

This matter impacts everyone. In collaboration with our partners at Amerilife and our Carrier Partners, we are actively engaged in discussions with CMS to convey our concerns about the proposed rule and its negative implications for Medicare.

The deadline for submitting comments on the proposed rule to CMS is approaching quickly. We encourage you to take the opportunity to write and send your own letters to CMS and your elected officials to make your voice heard.

    DEADLINE TO COMMENT IS JANUARY 5, 2024    

thnak you for your support

SUBMIT COMMENTS TO CMS

We appreciate your dedication to serving your clients, and in turn, we are devoted to supporting you. United, we can strive to prevent CMS from implementing this proposed policy. Thanks for your assistance.

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   For Agent Use Only. Not for the general public.

 

Tags: Medicare Advantage, Medicare Supplement

The Rewarding Path of Selling Medicare Plans as an Independent Insurance Agent

Posted by www.psmbrokerage.com Admin on Thu, Dec 21, 2023 @ 02:48 PM

The insurance industry, especially in the realm of Medicare plans, presents a landscape brimming with opportunities for those seeking a blend of autonomy, financial stability, and the satisfaction of providing a valuable service. As an independent insurance agent specializing in Medicare plans, you stand at the forefront of a rapidly growing market, offering vital services to a demographic that is expanding each year: seniors.

The Expanding Senior Market

The demographic landscape of the United States is undergoing a significant shift. With the Baby Boomer generation reaching retirement age, there is an unprecedented increase in the population of seniors. Statistics indicate that by 2030, all Baby Boomers will be over the age of 65, thereby expanding the senior market substantially. This growth translates into a growing need for Medicare plans, tailored to meet the diverse health care needs of the aging population.

Unlike many other professions, where income is directly tied to the hours worked, Medicare plans offer the potential for earning a recurring income on policies sold. This means that each policy sold can continue to provide income for years, compounding over time as you build your client base. This structure offers not only a steady income stream but also the peace of mind that comes with financial stability.

Autonomy and Flexibility

Being an independent agent means being your own boss. This autonomy allows you to set your own schedule, choose your clients, and create a work-life balance that suits your lifestyle. Whether you prefer to work from home, set up an office, or be on the move, the flexibility inherent in this career path supports a variety of working styles and preferences. This level of independence is particularly appealing to those who thrive in an environment where they can take charge of their business growth and direction.

The satisfaction of providing a service that helps people understand and access the healthcare they need cannot be overstated. It’s a role that not only benefits your clients but also brings a deep sense of personal fulfillment.

The opportunity is here!

The role of an independent insurance agent selling Medicare plans 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.

PATHWAY

With approximately 10,000 individuals in the United States becoming eligible for Medicare each day, finding the right Field Marketing Organization (FMO) to partner with is crucial for achieving success. PSM goes above and beyond to empower independent agents, agencies, and brokers by offering unparalleled insurance products, exceptional back-office support, and a wealth of valuable tools and resources.

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.

Precision Senior Marketing was founded in 2006, in Austin, Texas. In the intervening time with almost two decades of experience, PSM has grown to a nationwide footprint, with a mission to empower agents to honestly and ethically help people live longer, healthier and more financially secure lives.

image-png-Dec-27-2023-03-34-36-8000-PM

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Tags: Medicare Advantage, Medicare Supplement, New Business Opportunities

Your Guide to Marketing Medicare Plans in Your Community

Posted by www.psmbrokerage.com Admin on Thu, Nov 02, 2023 @ 01:32 PM

Medicare Marketing - LocalIn this guide we will explore some creative and effective marketing ideas to engage with your local community to build a formidable Medicare business. All while staying local and budget-friendly. Added bonus - Learn about a simple idea that is inexpensive and generates fantastic results. Download the guide today.

Building relationships and trust within your community is paramount. By demonstrating a genuine commitment to helping seniors find the right Medicare plans for their needs, you can establish yourself as a valuable resource and trusted partner in healthcare decisions.

  Newest Blog Posts  |  All Blog Posts

Tags: Medicare Advantage, Medicare Supplement, Medicare Part D, Professional Networking, direct mail, Seminar, Marketing, Local

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