Be sure to mark your calendars for June 24th when the 2025 AHIP Medicare training becomes available! This annual training is essential for certifying to sell Medicare Advantage and Part D plans. Staying updated with this training ensures that you're well-prepared to offer the best advice and options to your clients, keeping your qualifications current and your knowledge comprehensive. Don't miss out on the opportunity to enhance your expertise and continue providing valuable service to those navigating their Medicare choices.
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Medicare Blog | Medicare News | Medicare Information
Get Ready for 2025 AHIP Medicare Training - June 24th
Posted by www.psmbrokerage.com Admin on Mon, May 13, 2024 @ 11:16 AM
Tags: Medicare Advantage, AHIP, 2025
12 Innovative Strategies for Agents to Expand and Elevate Their Medicare Business
Posted by www.psmbrokerage.com Admin on Wed, May 01, 2024 @ 08:35 AM
Growing and scaling a business as a Medicare agent requires creativity, especially in a competitive market. Here are several innovative and effective strategies to help expand your client base and increase revenue: 1. Educational Workshops and SeminarsHost free educational workshops and seminars on topics relevant to Medicare, such as changes in Medicare plans, benefits, or eligibility criteria. These sessions position you as an expert in the field and provide a platform to connect with potential clients. Download our guide on how to market in your local community. 2. Partnerships with Local Businesses and Community CentersForge partnerships with local businesses, community centers, and retirement homes to offer informational sessions or one-on-one consultations. This can broaden your reach and establish a trustworthy presence in the community. 3. Utilize Social Media PlatformsCreate and maintain active social media profiles tailored to the senior demographic. Use these platforms to share useful content, answer FAQs, and broadcast live Q&A sessions. This not only educates but also engages potential clients. Learn more on how you can leverage social media as an insurance agent. 4. Content MarketingDevelop a content marketing strategy that includes blogging, newsletters, ebooks, and infographics. Focus on topics that are beneficial to your target audience, such as understanding Medicare options, managing healthcare costs in retirement, and the latest updates in Medicare policies. Check out the PSM Marketing Hub for marketing ideas. 5. Referral ProgramsImplement a referral program that rewards existing clients for referring new customers. This could be in the form of discounts, gift cards, or special services. Word-of-mouth is a powerful tool in the senior market. 6. Customized Email CampaignsUse email marketing to send personalized communications to your leads and clients. Segment your email list to ensure that the content is tailored to the recipients’ needs and interests, increasing engagement and conversion rates. 7. Expand Your OfferingsConsider obtaining certifications to sell additional products related to healthcare, such as long-term care insurance, dental and vision plans, or supplemental health insurance. This allows you to offer more comprehensive solutions to your clients’ needs. 8. Networking with Healthcare ProvidersNetwork with doctors, nurses, and other healthcare providers who interact with seniors. They can refer patients who might need assistance with Medicare plans. Ensure you leave business cards and brochures that they can easily give to potential clients. Sample provider outreach letter available here. 9. Utilize Client Testimonials and Case StudiesShowcase testimonials and case studies on your website and in your promotional materials. Real-life success stories can significantly enhance credibility and reassure potential clients of your expertise and commitment. 10. Host WebinarsOffer regular webinars on important Medicare topics. This approach not only reaches those who are unable to attend in-person meetings but also allows you to engage with a broader audience from the comfort of their homes. 11. Collaborate with Financial PlannersPartner with financial planners who may have clients approaching the age of Medicare eligibility. This collaboration can be mutually beneficial, as you can refer clients to each other based on the needs of the seniors you serve. 12. Local Sponsorships and AdvertisingSponsor local events or advertise in community newsletters and on local radio stations. Choose venues and media that are popular with the senior demographic to ensure your message reaches the right audience.
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Tags: Final Expense, Annuities, Hospital Indemnity, Medicare Advantage, Medicare Supplement, Referrals, cross marketing, cross selling, dental plans
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.
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Tags: Final Expense, Hospital Indemnity, Medicare Advantage, Insurance Marketing, Facebook, Goal Setting, DSNP, Enrollment Tools, Guide, Resources
2024 NABIP Texas Annual Conference Recap
Posted by www.psmbrokerage.com Admin on Thu, Apr 25, 2024 @ 09:31 AM
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.
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Tags: Hospital Indemnity, Medicare Advantage, Insurance Marketing, Facebook, Goal Setting, DSNP, Enrollment Tools, Guide, Resources, NABIP
3 Big Medicare Changes for 2025
Posted by www.psmbrokerage.com Admin on Wed, Apr 24, 2024 @ 11:41 AM
By Fortune – April 22, 2024 It may be months before the calendar flips to 2025, but not for Medicare. The Centers for Medicare & Medicaid Services (CMS), which runs the program, just announced two major changes for 2025 you’ll want to know about. Next year, Medicare will also dramatically alter the maximum amount beneficiaries will need to pay out-of-pocket for their covered medications. Read the article.
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Tags: Medicare Advantage, CMS
Unlock New Opportunities with DSNP Plans
Posted by www.psmbrokerage.com Admin on Wed, Apr 17, 2024 @ 10:14 AM
Download our helpful guide to deepen your understanding of selling Dual Special Needs Plans to seniors. This essential resource is tailored to help agents like you navigate the complexities of these plans, highlighting key strategies for effectively reaching and serving the senior demographic. Whether you're new to this segment of Medicare or looking to refine your approach, our guide provides valuable insights and practical tips to enhance your sales techniques and improve client engagement. The Breakdown:
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Tags: Medicare Advantage, DSNP, Guide
Guide to Scaling Your Medicare Business
Posted by www.psmbrokerage.com Admin on Wed, Apr 17, 2024 @ 10:13 AM
Tags: Medicare Advantage, Medicare Supplement, Insurance Marketing, Digital Marketing, Agency Building
Join PSM Brokerage and Elevate Your Career as an Independent Agent!
Posted by www.psmbrokerage.com Admin on Wed, Apr 17, 2024 @ 10:09 AM
Join PSM Brokerage now to offer a robust portfolio of Medicare Plans, Life Insurance and Annuities and leverage the expanding market demand. If your sales skills are top-notch and you have a focused, goal-driven mindset, you're precisely the partner we're seeking. We provide robust leadership, advanced sales tools, effective sales strategies, dedicated training, outstanding mentorship, and beyond. Working with PSM Brokerage (PSM) offers a unique opportunity for insurance agents focusing on the senior market. As a reputable FMO, we provide:
Joining forces with PSM Brokerage means becoming a vital part of a collaborative and thriving community of agents. This unique community is deeply committed to mutual support, sharing knowledge, and fostering an environment where everyone can excel.
Our Mission:We nurture, educate, and assist our agents in every way possible. We are relentless in our dedication to bring value and go above and beyond expectations. We provide best-in-class service and do it with a smile. We conduct ourselves with integrity and honesty. We develop a culture of success with team members and agents to inspire them to reach their full potential. We will create an environment that serves our goals using honesty, humor, and humility. We are the home for high-producing agents and high-value agencies. The fruits of our hard work are visible daily as we continue to grow and attract higher production and lasting relationships. If you're an agent interested in taking your career to the next level and eager to thrive, we want to hear from you. PSM Brokerage is committed to empowering agents with the tools, training, and community support needed to succeed. We offer a collaborative environment where your growth is our priority, backed by a suite of resources designed to maximize your potential.
PSM Brokerage 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.
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Tags: Annuities, Medicare Advantage, Medicare Supplement, New Business Opportunities, Life Insurance
2025 Devoted Health Expansion Opportunities
Posted by www.psmbrokerage.com Admin on Tue, Apr 16, 2024 @ 03:03 PM
PSM is proud to spotlight Devoted Health Medicare Advantage Plans We are delighted to promote our partnership with Devoted Health, making their highly coveted Medicare Advantage plans available in newly expanded regions. This presents a prime opportunity for you to join a successful team and propel your career in the Medicare industry to new heights! Ask us for details on what sets Devoted apart from the competition — and why you won’t want to sell others' products. You won’t regret it! As Devoted Health broadens its reach to include Arkansas, Georgia, Indiana, Kentucky, Missouri, Mississippi, Washington, and Wisconsin, this is the perfect opportunity to expand your client base and enhance your earning possibilities like never before.
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CMS: Contract Year 2025 Medicare Advantage and Part D Final Rule (CMS-4205-F)
Posted by www.psmbrokerage.com Admin on Fri, Apr 12, 2024 @ 09:08 AM
Background On April 4, 2024, the Centers for Medicare & Medicaid Services (CMS) issued a final rule that revises the Medicare Advantage Program, Medicare Prescription Drug Benefit Program (Medicare Part D), Medicare Cost Plan Program, Programs of All-Inclusive Care for the Elderly (PACE), and Health Information Technology Standards and Implementation Specifications. Additionally, this final rule addresses several key provisions that remain from the CY 2024 Medicare Advantage and Part D proposed rule, CMS-4201-P, published on December 14, 2022. Together, the changes in this final rule build on existing Biden-Harris Administration policies to strengthen protections and guardrails, promote healthy competition, and ensure Medicare Advantage and Part D plans best meet the needs of enrollees. In addition, these policies promote access to behavioral health care providers, promote equity in coverage, and improve supplemental benefits. This fact sheet discusses the major provisions of the 2025 final rule which can be downloaded here: https://www.federalregister.gov/public-inspection/2024-07105/medicare-program-medicare-advantage-and-the-medicare-prescription-drug-benefit-program-for-contract Many individuals with Medicare rely on agents and brokers to help navigate complex Medicare choices as they comparison shop for coverage options. The Medicare statute requires that CMS must establish guidelines to ensure that the use of compensation creates incentives for agents and brokers to enroll individuals in the Medicare Advantage or Part D plan intended to best meet the prospective enrollee’s health care needs. However, excessive compensation, and other bonus arrangements, offered by plans to agents and brokers can result in individuals being steered to some Medicare Advantage and Part D plans over others based on the agent or broker’s financial interests, rather than the prospective enrollee’s health care needs. CMS is cracking down on that. Specifically, CMS is finalizing requirements that redefine “compensation” to set a clear, fixed amount that agents and brokers can be paid regardless of the plan the individual enrolls in, addressing loopholes that result in commissions above this amount that create anti-competitive and anti-consumer steering incentives. The provisions of this final rule, which are applicable beginning with the upcoming Annual Enrollment Period, ensure that agent and broker compensation reflect only the legitimate activities required of agents and brokers, by broadening the scope of the regulatory definition of “compensation,” so that it is inclusive of all activities associated with the sales to/enrollment of an individual into a Medicare Advantage or Part D plan. In response to feedback from stakeholders, CMS is increasing the final national agent/broker fixed compensation amount for initial enrollments into a Medicare Advantage or Part D plan by $100, which is an amount higher than what was proposed ($31). CMS believes this increase will provide agents and brokers with sufficient funds to serve individuals with Medicare. This increase will eliminate variability in payments and improve the predictability of compensation for agents and brokers. This increase will be added to agent and broker compensation payments for the Annual Election Period in Fall 2024 and applied to all enrollments effective in CY2025 and future contract years. Additionally, the final rule generally prohibits contract terms between Medicare Advantage organizations/Part D sponsors and middleman Third Party Marketing Organizations (TPMOs), such as field marketing organizations, which may directly or indirectly create an incentive to inhibit an agent or broker’s ability to objectively assess and recommend the plan that is best suited to a potential enrollee’s needs. In the final rule, CMS provides several examples of contract terms that will be impermissible under this prohibition, including provisions offering volume-based bonuses for enrollment into certain plans. These final policies advance the goals of President Biden’s historic Competition Council and Executive Order signed in July 2021, by helping to ensure a robust and competitive Medicare Advantage marketplace.
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Tags: Medicare Advantage, CMS