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Medicare Blog | Medicare News | Medicare Information

Why Place Your Medicare Business With Precision Senior Marketing

Posted by www.psmbrokerage.com Admin on Thu, Jul 11, 2019 @ 03:29 PM

Why place your Medicare business with Precision Senior Marketing


As a PSM producing agent you have the opportunity to tap into our Top Flight Lead Incentive awarding you with $430 per 10 Medicare Supplement or Medicare Advantage sales to use for leads or other Medicare Marketing initiatives.*

This $430 credit per 10 sales can be used for initiatives including:

  • 1,000 piece direct mail campaign
  • Facebook Advertising / Marketing Campaign for Medicare
  • Internet leads or another vendor specifically for Medicare (Buy the leads, send us the invoice, and we will reimburse you back up to $430)
  • E&O Reimbursement
  • Annual membership to ReferMe IQ Referral Platform

* Street level contract direct to PSM
* Med Supp GI Business not included

In addition to our Top Flight Lead Incentive, we also provide the following value-added benefits:

  • 50/50 co-op for Medicare Marketing - we will reimburse half of what an agent spends on their Medicare marketing initiatives. For example if an agent spends $2,000 on their Medicare Marketing, we will reimburse $1,000 as long as we have receipts / invoices to show $2,000 was spent on Medicare Marketing.
  • Access to Retail Programs at Wal-Mart during AEP for lead generation activities & sales events.  
  • Connections to local market managers for certain carriers to provide local trainings and hands on events for Medicare Advantage, Special Needs Plans, and Dual Eligible Plans.
  • Access to a remote enrollment system allowing agents to compliantly write Medicare Advantage and Prescription Drug applications electronically and by phone.
  • Comprehensive quoting software from CSG that quotes ALL carriers in the US for Medicare Supplements, Medicare Advantage, Prescription Drugs, Hospital Indemnity, Dental, and Final Expense plans.
  • Comprehensive training videos with assessment tests at the end to test knowledge and move toward becoming an expert.
  • Open Release Policy – we will not hold you captive.

At PSM we offer the industry's leading carriers, with the highest attainable contracts, along with the tools, resources and incentives necessary to grow your business and succeed in a booming market. We look forward to working with you!

Related Article: The Benefits of Working with an Insurance FMO

Image: Canva

Additional Updates:
 

Tags: Medicare Advantage, Medicare Supplement, Medicare FMO

Mutual of Omaha: Med Supp Broker Bonus Program - 2019

Posted by www.psmbrokerage.com Admin on Thu, Jul 11, 2019 @ 01:23 PM

Mutual of Omaha: Med Supp
Broker Bonus Program - 2019

Click here for PDF version

Bonus flyer


Not appointed to sell Mutual of Omaha Medicare Supplement plans? 
Request details here

Additional Updates:
 

Tags: Medicare Supplement, mutual of omaha

Mutual of Omaha: Med Supp Broker Bonus Program

Posted by www.psmbrokerage.com Admin on Thu, Jun 27, 2019 @ 04:25 PM

Mutual of Omaha: Med Supp Broker Bonus Program

From July 1st through September 30th, you'll earn cash just for selling Mutual of Omaha's Medicare supplement products. All it takes is a minimum of five issued apps in a month to be eligible for the bonus that will pay for Plans F, G and N issued in the states listed in the official rules.

Here's what you can earn in most states:

  • $150 for each issued Underwritten policy
  • $30 for each issued Open Enrollment policy

Want to know more? Download the official rules for details on how the program works, including participating states, eligible plans and payment of bonuses. Payouts may vary by state.

Don't pass up the opportunity to put some extra cash in your pocket!

Not appointed with Mutual? Request details here.

Additional Updates:
 

Tags: Medicare Supplement, mutual of omaha

Mutual of Omaha: Medicare Solutions Product Portfolio

Posted by www.psmbrokerage.com Admin on Wed, Jun 12, 2019 @ 01:04 PM

 

As people approach age 65, they’re bombarded with insurance offers. While some companies continue to add to the clutter and confusion, Mutual of Omaha is focused on helping you guide your clients through the complexity of selecting Medicare coverage. So, when they turn to you for help, turn to Mutual of Omaha’s Medicare Solutions portfolio.

Medicare-age clients are looking to stay physically and financially healthy. Considering they need to make their savings last, they want to know what’s covered and how much things will cost. They want to feel confident that the coverages they choose will help protect their health and budget.

Mutual of Omaha’s Medicare Solutions can do just that.

Take a look at their products that help solve your clients’ needs during their retirement years:

  • Medicare Supplement Insurance. Competitive pricing, premium savers and fast policy issue
  • Dental Insurance. Guaranteed issue, two plans available (both with optional vision rider), backed by a network of about 375,000 provider locations
  • Mutual of Omaha Rx. Two national prescription drug plans with affordable premiums, Value plan has $0 deductible for Tiers 1 & 2 prescriptions
  • Cancer, Heart Attack/Stroke Insurance. Limited underwriting, direct payment upon diagnosis, policies up to $100,000

Mutual of Omaha’s great senior product offerings and unparalleled service are the perfect complement to your clients’ needs.

If you have questions or would like to get contracted, please call us at (800) 998-7715 or complete our online request form.

Mutual of Omaha Rx (PDP) is a prescription drug plan with a Medicare contract. Enrollment in the Mutual of Omaha Rx plan depends on contract renewal.

Additional Updates:
 

Tags: Medicare Supplement, Medicare Part D, Mutual of Omaha Medicare Supplement, dental plans, MACRA

Benefit Chart of Medicare Supplement Plans Sold on or after January 1, 2020

Posted by www.psmbrokerage.com Admin on Wed, Jun 12, 2019 @ 08:32 AM

BENEFIT CHART OF MEDICARE SUPPLEMENT PLANS SOLD ON OR AFTER JANUARY 1, 2020


With MACRA right around the corner, this chart should be helpful if you are currently selling Medicare Supplement plans.

Here is a link to the PDF document.


2020 med supp benefits

Source

Image: www.Canva.com

Additional Updates:
 

Tags: Medicare Supplement, MACRA

Medicare Supplement Enrollment Up Nearly 4% in 2018

Posted by www.psmbrokerage.com Admin on Wed, May 22, 2019 @ 10:40 AM


The rapidly expanding U.S. senior population continues to present increasing opportunities for health insurers offering Medicare Supplement plans. Many leading managed care organizations, Blues plans, regional plans, and multiline carriers compete in the Medicare Supplement (also known as Med Supp or Medigap) arena. As of December 31, 2018, the Med Supp market experienced yet another year of membership growth.  Based on performance data filed in annual financial statements from the NAIC (National Association of Insurance Commissioners), enrollment in Medicare Supplement plans was almost 13.6 million as of December 31, 2018, up 3.95% year-over-year. 

Mark Farrah Associates (MFA) identified 196 distinct carriers that filed annual data with the NAIC.  Breakdowns of in-force policies show that carriers issued policies to almost 5.3 million new members written in the last three years. Carriers reported an aggregate of 8.3 million members covered by older policies that had been issued prior to the year 2016. This brief provides an overview of the Medicare Supplement market with insights about competitive positioning and standardized plan type preferences.

 


Medicare Supplement carriers added approximately 517,000 covered lives to their portfolios between December 31, 2017 and December 31, 2018.  About 17% of this market growth is attributed to UnitedHealth’s membership increase. Among standardized plans A-N, Plan F covers the annual Medicare Part B deductible and offers the most comprehensive benefits. Per the graph below, Plan F enrolled almost 7.05 million Med Supp members and accounted for approximately 52% of the market.  However, this number decreased by 15,000 year-over-year. 

This decline in Plan F membership is largely due to a provision in the Medicare Access and CHIP Reauthorization Act of 2016 (MACRA). Beginning January 1, 2020, Plan F will no longer be an option for newly eligible Medicare enrollees, whereby supplemental plans covering the Part B deductible can no longer be purchased. Beneficiaries who continue to pay their existing Medicare Supplement Plan F premium will not lose that coverage. This policy change has begun the shift in growth from Plan F into Plans G and N which are widely seen as viable alternatives to Plan F.  Both Plans G and N continued to experience year-over-year increases with Plan G notably enrolling 645,000 new members; a growth rate of 39%.


The Medicare Supplement market remains an attractive line of business for carriers.  Med Supp plans collectively earned approximately $31.3 billion in premiums and incurred $24.7 billion in claims during 2018, up from 2017.  The aggregate loss ratio (incurred claims as a percent of earned premiums) was 78.9% in 2018, an increase from 77.7% in 2017.


The top 10 companies command almost 69% of the Med Supp market with approximately 9.4 million members. UnitedHealth, with its longstanding contract with AARP, continues to hold 34% of the market with more than 4.5 million members. Mutual of Omaha ranked second with 10% market share and approximately 1.4 million members as of December 31, 2018. CVS, formerly Aetna, supplanted Health Care Service Corporation (HCSC) as the third largest plan in 2018, with 702,000 enrolled.   Anthem remains in the fifth ranking position for market share with over 590,000 members and Cigna experienced strong growth, increasing its membership by 129,000 members, with over 560,000 enrolled. 


With over 65 million Medicare beneficiaries residing in the U.S., Medicare Supplement policies continue to be a viable option for seniors, as these plans can help pay some of the medical costs not covered by Original Medicare. Therefore, insurers continue to diversify their senior market portfolios to leverage opportunities across all product lines and expand product options in order to keep up with industry trends. 

Source: https://www.markfarrah.com/mfa-briefs/medicare-supplement-enrollment-up-nearly-4-in-2018/

Image: www.Canva.com

Additional Updates:
 

Tags: Medicare, Medicare Supplement

New Virginia Medicare Supplement Release from Mutual of Omaha

Posted by www.psmbrokerage.com Admin on Wed, May 08, 2019 @ 10:18 AM

Mutual Med Supp Virginia

We have some exciting news to share!

Mutual of Omaha is releasing a new Medicare Supplement in Virginia.
Request details today and be ready
when the product roles out for new sales.

Call us at 800-998-7715 and one of our marketing representatives would be happy to share this valuable information with you.

Get to know MACRA

 
Additional Updates:
 

Tags: Medicare Supplement, Mutual of Omaha Medicare Supplement

New Wyoming Medicare Supplement Release from Mutual of Omaha

Posted by www.psmbrokerage.com Admin on Wed, May 08, 2019 @ 10:15 AM

Mutual Med Supp Wyoming

We have some exciting news to share!

Mutual of Omaha is releasing a new Medicare Supplement in Wyoming.
Request details today and be ready
when the product roles out for new sales.

Call us at 800-998-7715 and one of our marketing representatives would be happy to share this valuable information with you.

Get to know MACRA

 
Additional Updates:
 

Tags: Medicare Supplement, Mutual of Omaha Medicare Supplement

64% Of Agents Report Increased Medicare Supplement Sales

Posted by www.psmbrokerage.com Admin on Wed, May 08, 2019 @ 08:36 AM

64 Of Agents Report Increased Medicare Supplement Sales

Nearly two-thirds of insurance agents reported increased sales of Medicare supplement insurance in 2018 and a higher percentage expect continued growth in 2019, according to a survey conducted by the American Association for Medicare Supplement Insurance.

"The vast majority of agents (64.1%) experienced increased Medigap sales in 2018 compared to the prior year," reports Jesse Slome, director of the association.

The organization polled 1,000 insurance professionals who market Medicare insurance in advance of the association's national Medicare Supplement industry conference. Over 300 agents completed the survey questions.

Some 64.1 percent of the agents reported increased or higher sales of Medigap insurance in 2018. Just over one-in-four (27.2%) indicated that their sales were about the same as the prior year with only 8.7 percent reporting decreased or lower sales.

The association asked agents to predict their 2019 sales compared to 2018.

"An ever greater majority of agents (68.6%) were more optimistic that their Medigap sales during the year would be higher," Slome said. "The percentage who expect decreased sales dropped to 3.8 percent.

"With 11,000 Americans turning 65 daily, it's no wonder why more agents are focusing on selling Medicare Supplement and Medicare Advantage products," he added. "There is every reason to be optimistic about the future and the continued growth of the industry."

Source: https://insurancenewsnet.com/innarticle/nearly-65-of-agents-report-increased-medicare-supplement-sale

Image: www.Canva.com

Additional Updates:
 

Tags: Medicare Advantage, Medicare, Medicare Supplement

Industry Updates: Medicare Supplement Market Premium Grows 4.9% to $32.4 Billion

Posted by www.psmbrokerage.com Admin on Tue, May 07, 2019 @ 04:04 PM

CSG Actuarial Blog Header

By Taylor McDonald – CSG Actuarial – May 7, 2019

CSG Actuarial, with information from the NAIC and other sources, reports total earned premiums in the Medicare Supplement market in 2018 totaled $32.4 billion, a 4.9% increase over 2017. The total Med Supp lives covered in 2018 increased to 14.05 million, up 3.9% from 2017. The top 12 carriers in terms of 2018 Medicare Supplement premiums were:

1 United Healthcare
2 Mutual of Omaha
3 Anthem
4 HCSC
5 CVS Health
6 Cigna 
7 CNO Financial
8 BCBS of Massachusetts
9 Humana
10 Wellmark
11 BCBS of Michigan 
12 BCBS of Florida

The 2018 overall Med Supp market loss ratio of 79.0% reflects a continued trend in the market of the overall loss ratios creeping back up towards “Pre-Modernized” levels of around 80%.

Source: https://www.csgactuarial.com/2019/05/industry-updates-medicare-supplement-market-premium-grows-4-9-to-32-4-billion/

Additional Updates:
 

Tags: Humana, Cigna, Medicare, Medicare Supplement, UnitedHealthcare, CSG Actuarial, aetna, mutual of omaha

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