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Medicare Blog | Medicare News | Medicare Information

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

Mutual of Omaha: MA and PDP Compensation Payments

Posted by www.psmbrokerage.com Admin on Wed, Jan 16, 2019 @ 08:40 AM


The following is information regarding the payment of compensation for Mutual CareAdvantage (HMO) (MA) and Mutual of Omaha Rx (PDP) sales.

 
Medicare Advantage Compensation

  • Payment will be made beginning January 2019
  • Compensation Schedules – can be found on Sales Professional Access (SPA), click on the Profile icon in the upper righthand corner.  Choose Communications and filter on company – Mutual of Omaha Medicare Advantage Company and access your contract packet which includes your compensation schedule. 
  • Compensation Statements -  can be found on the Medicare Advantage producer portal by clicking on the ‘Commission’ icon. A link to the portal is found on the Medicare Advantage product page on Sales Professional Access (SPA) mutualofomaha.com/broker.  
  • For questions:
  • Click for details regarding MA compensation.

 Prescription Drug Plans Compensation

  • Payment will begin April 2019
  • Compensation Schedules – Can be found on Sales Professional Access (SPA), click on the Profile icon in the upper right hand corner. Choose Communications and filter on company – Omaha Health Insurance Company and access your contract packet which includes your compensation schedule. 
  • Compensation Statements - can be found on Sales Professional Access (SPA) under Reports beginning in April.
  • For questions:
  • Click for details on PDP Compensation

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

Additional Updates:
 

Tags: Medicare Advantage, Medicare Part D, mutual of omaha

Mutual of Omaha Sales Leaders: Electric London - March 19-24, 2020

Posted by www.psmbrokerage.com Admin on Fri, Jan 04, 2019 @ 02:58 PM

Mutual of Omaha Sales Leaders:
Electric London - March 19-24, 2020

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How can you experience the electricity of London? Place qualifying business with Mutual of Omaha during 2019 and become a Mutual Sales Leader — and join us for a brilliant time in England.

2019 QUALIFICATION HIGHLIGHTS
MEDICARE SUPPLEMENT AND DENTAL/VISION PRODUCTS

Qualification Period | January 1 through December 31, 2019
• Business must be net issued between January 1 and December 31, 2019
• All issued policies must be placed and premium collected and received by Mutual of Omaha by January 15, 2020
• Qualifiers will be determined after January 20, 2020

Eligible Business | Medicare Supplement and Dental/Vision products

Production Requirement | 275,000 production credits (Based on net-issued business and measured in annualized new business premium)

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For Complete Details | Download a copy of the official qualification requirements at mutualsalesleaders.com

Not appointed with Mutual of Omaha?
Request details here or call us at 800-998-7715 to ask for an online contracting link.

Additional Updates:


Tags: mutual of omaha

Mutual of Omaha: Submitting and Tracking Your PDP Enrollments

Posted by www.psmbrokerage.com Admin on Fri, Nov 30, 2018 @ 01:32 PM

Mutual of Omaha: Submitting and Tracking Your PDP Enrollments



Prescription Drug Plan (PDP) enrollments can be taken via e-App or paper. Below is important information on how to access, submit and track your PDP business.
 
ELECTRONIC ENROLLMENTS

Accessing
The PDP electronic enrollment can be found on Sales Professional Access (SPA- www.mutualofomaha.com/broker). On the left navigation bar under Sales Tools, click:
Electronic Applications – Prescription Drug Plans e-Application – Start or Continue e-App
 
Submitting
Electronic enrollments are submitted electronically at the completion of the application process.

Tracking
If you take an electronic enrollment (started or submitted), click the ‘View Dashboard’ button within the PDP e-app.
 
For CMS approved enrollments, there are two links available to access your report:

  • Click the link labeled ‘Prescription Drug Plan Approvals’ under the ‘Reports’ tab in Sales Professional Access (SPA), or 
  • Click the link ‘Approved Cases’ located on the ‘Electronic Applications’ page under the button to launch the PDP e-app.

 
PAPER APPLICATIONS

Ordering
A PDP enrollment packet can be order through regular channels by faxing the order form or calling Sales Support @ 800-693-6083.
 
Submitting
Completed paper enrollment forms can be submitted to Mutual of Omaha via fax or mail. The Scope of Appointment (SOA) should be retained by the agent and a copy must be submitted to Mutual either via Fax or email.
 
Enrollment Form

  • Fax to: 855-867-6711 (Preferred method of submission); or
  • Mail to: Mutual of Omaha Rx, PO Box 3625, Scranton, PA, 18505-9811

 Scope of Appointment

 All paper enrollment forms MUST be received by Mutual of Omaha Rx’s enrollment processor within 48 hours after the signed enrollment date.
 
Tracking
If you submit a paper enrollment, call 877-775-1360.
 
For CMS approved enrollments, there are two links available to access your report:

  • Click the link labeled ‘Prescription Drug Plan Approvals’ under the ‘Reports’ tab in Sales Professional Access (SPA), or 
  • Click the link ‘Approved Cases’ located on the ‘Electronic Applications’ page under the button to launch the PDP e-app.

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


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

Additional Updates:
 

Tags: Annual Enrollment Period, Medicare Advantage, Part D, AEP, mutual of omaha

Mutual of Omaha: Submitting and Tracking Your Medicare Advantage Enrollments

Posted by www.psmbrokerage.com Admin on Fri, Nov 30, 2018 @ 01:28 PM

Mutual of Omaha: Submitting and Tracking Your Medicare Advantage Enrollments



Medicare Advantage (MA) enrollments can be taken via e-App or paper. Below is important information on how to access, submit and track your MA business.
 
ELECTRONIC ENROLLMENTS

Accessing
Click on the ‘Start New Application’ icon on the Medicare Advantage producer portal. The link to the MA producer portal can be accessed on the Sales Professional Access (SPA- www.mutualofomaha.com/broker) on the Medicare Advantage product page.
 
Submitting
Electronic enrollments are submitted electronically at the completion of the application process.

Tracking
If you take an electronic enrollment (started or submitted), click the ‘View Dashboard’ button within the Medicare Advantage e-app.
 
For CMS approved enrollments click on the ‘App Tracker’ icon within the Medicare Advantage producer portal. 
 
PAPER APPLICATIONS

Ordering
Order the paper enrollment forms from the storefront found under Documents – Resources – Store Front for Supply Orders on the Medicare Advantage producer portal.
 
Submitting
There are two options for submitting completed paper enrollment forms.

  • Producer Online Quick Entry – Log in to the MA producer portal and Select the ‘Start New Application’ icon. Complete the form online and upload your paper documents.
  • Producer Phone Enrollment – Once the enrollment has been completed, you MUST leave the beneficiary’s house. Call Producer Support at 877-259-8657 during business hours (Monday through Friday, 8 a.m. – 5 p.m. CST) and provide details of the enrollment.

 
For both options, the paper documents (enrollment form, SOA and producer checklist) must be mailed to our enrollment processing center within 48 hours of enrollment sign date. A business reply envelope for submitting these forms is provided in each enrollment kit.
 
Tracking
For both paper enrollments you submit and CMS approved enrollments call 877-259-8657. 
 
Mutual of Omaha CareAdvantage is an HMO plan with a Medicare contract. Enrollment in Mutual of Omaha CareAdvantage depends on contract renewal.


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

Additional Updates:
 

Tags: Annual Enrollment Period, Medicare Advantage, Part D, AEP, mutual of omaha

Mutual of Omaha Living Promise Final Expense: Automated Underwriting is Here!

Posted by www.psmbrokerage.com Admin on Thu, Nov 15, 2018 @ 03:41 PM

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AUTOMATED UNDERWRITING IS HERE!

We just received confirmation that the installation of the Instant Decision Living Promise e-App will be the evening of Friday, November 16 and will be live on Saturday, November 17th at 9AM Central.

PLEASE READ FOR IMPORTANT INFORMATION!

How do you get trained?
Mutual created a training video that will walk you through the new and improved application process. The entire presentation is 21 minutes long and while it can be viewed on your mobile devices, it is best viewed on a laptop. Below is the link to the training video: https://www.brainshark.com/mutualofomaha/vu?pi=zJ9zqmkqxzkVyz0
 
With Automated Underwriting, you can deliver instant underwriting decisions to your clients through a faster application process.
 
What do I need to do BEFORE Saturday, November 17th
The iGo eApplication will be automatically updated, so you will not need to download any new software. There are some things you will need to do by Friday, November 16th at 5PM Central

  1. Make sure any Living Promise eApplications you have started are submitted by 5PM Central on Friday, November 16th. Any eApp that is not submitted by then will be deleted during the upgrade.
  2. Make sure you have copies of a blank application with you over the weekend. While we anticipate no problems with the installation, we do not want you to be in a jam while you are in front of a client.
  3. To download the application packets, please visit our producer website at www.mutualofomaha.com/broker and visit “Forms and Materials” to download the appropriate application.



Check out the on-demand training video by clicking the link below. 


Instant Decision for Living Promise® eApp (In Person Signature)

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We’ll notify you as soon as Living Promise Instant Decision is ready, so make sure you are! 
Need a quick refresher on Living Promise? Click here to view this on demand training video.

If you have any questions or would like to get contracted with Mutual of Omaha, please contact us at 800-998-7715 or go here

Additional Updates:
 

Tags: Final Expense, mutual of omaha, living promise

Mutual of Omaha Dental Insurance Highlights

Posted by www.psmbrokerage.com Admin on Wed, Nov 14, 2018 @ 02:35 PM

Dental Insurance for Your Medicare Clients

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(Photo: Freepik)

Mutual of Omaha now offers dental insurance for your Medicare eligible clients.  Mutual Dental Preferred and Mutual Dental Protection insurance policies also have an optional vision care rider underwritten by Mutual of Omaha Insurance Company. The dental product is available in all states except: Maryland, North Carolina, New Mexico, New York, Virginia and Washington.

*Mutual Dental Protection not available in Alaska

Senior-age customers said they wanted a simpler dental insurance choice, one where they didn’t have to guess what’s covered. And we listened, designing two transparent, straightforward dental insurance policies that deliver the coverage they want with the confidence from knowing what their out-of-pocket costs will be. It’s dental care with no surprises.

Dental insurance through Mutual of Omaha is:

  • Simple  | Guaranteed issue, two questions on the Med supp application, e-app available
  • Transparent | Customers know what’s covered and what’s not
  • Flexible | Two plans to choose from, both include optional vision rider
  • Extensive  | Backed by a network of 375,000 dental provider locations
  • Affordable | Both policies are competitively priced

See complete details.

Straightforward design, guaranteed issue and coverage your clients want… all reasons for you and your clients to smile!

Request details here or call us today at 800-998-7715.

Additional Updates:
 

Tags: mutual of omaha, dental plans

Mutual of Omaha Offers Competitive Prescription Drug Plans for your Medicare clients

Posted by www.psmbrokerage.com Admin on Wed, Nov 14, 2018 @ 02:20 PM

Mutual of Omaha Offers Competitive Prescription Drug Plans for your Medicare clients

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This AEP you have two new Prescription Drug Plans to offer your Medicare clients. These new plans – Mutual of Omaha Rx Value and Mutual of Omaha Rx Plus – are available nationwide except New York.

Check out the plan details here
 
Looking for a reason to sell Mutual of Omaha Rx plans?
 
Did you know…

  • Their PDP Value plan shows up on Plan Finder at Medicare.gov ranked at #2 when using CMS’s average prescription cost*, and
  • 85% of Medicare supplement customers also purchase a Part D prescription drug plan and 73% buy their Med supp and PDP from the same carrier**. Take the opportunity to offer your client a Mutual Med supp with a Mutual of Omaha Rx PDP plan from a trusted carrier.

Mutual of Omaha has plans for your Medicare-aged clients who are looking for an affordable, reliable prescription drug plan that can help make their savings last and offers broad prescription coverage. 

In fact, here are three things we think they’ll love about Mutual of Omaha Rx Value and Mutual of Omaha Rx Plus:

  • Deliver coverage with low premiums and deductibles
  • Broad Coverage. Build plans around the medications that matter most to our members
  • Extensive Preferred Network. Give members access to a national network of more than 67,000 pharmacies, retailers, grocery stores and neighborhood pharmacies

Not appointed to sell Mutual of Omaha Part D plans? Request details here

*Estimated Annual Drug Cost: This is an estimate of the average amount an individual might pay each year for their prescription drug coverage. This estimate includes – monthly premiums, annual deductibles, drug copayments/coinsurance and drug cost not covered by prescription drug insurance.
 
** Source: Oliver Wyman, “The Part D Dilemma” February 2015,

Insurance products and services are offered by Mutual of Omaha Insurance Company or one of its affiliates. 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: Annual Enrollment Period, Medicare Part D, AEP, mutual of omaha

Mutual of Omaha Living Promise Final Expense: Automated Underwriting - It's Almost Here

Posted by www.psmbrokerage.com Admin on Wed, Nov 14, 2018 @ 10:04 AM

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AUTOMATED UNDERWRITING

IT'S ALMOST HERE!!!

Mutual of Omaha is getting even closer to releasing Automated Underwriting for Living Promise (Final Expense) e-Applications and we want you ready to go when we do. With Automated Underwriting, you can deliver instant underwriting decisions to your clients and a faster application process.

Check out the on-demand training video by clicking the link below. 

Instant Decision for Living Promise® eApp (In Person Signature)

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We’ll notify you as soon as Living Promise Instant Decision is ready, so make sure you are! 
Need a quick refresher on Living Promise? Click here to view this on demand training video.

If you have any questions or would like to get contracted with Mutual of Omaha, please contact us at 800-998-7715 or go here

Additional Updates:
 

Tags: Final Expense, mutual of omaha, living promise

Offer Your Med Supp Clients Cancer/ Heart Attack and Stoke During Open Enrollment

Posted by www.psmbrokerage.com Admin on Wed, Nov 07, 2018 @ 02:51 PM

Sales Ideas:
Tips on how to sell Cancer, Heart Attack and Stroke Policies to your Med Supp Clients


Your clients have worked hard their entire lives. And they’re ready to enjoy retirement. But, as people reach the age of 65 their risk for cancer and heart disease increases. Additionally, the costs associated with addressing these conditions can drain retirement or savings quickly.

THE NEED
Nearly everyone knows someone who has been affected by cancer or heart disease. Unfortunately, many believe that their existing coverage is adequate to cover all the expenses associated with these conditions. As costs and deductibles rise, seniors are feeling the pinch more and more.

TODAY’S REALITY

  • Among seniors 65 and older, just 37 percent claim to have $1,000 available in savings
  • The average healthy 65-year-old couple retiring in 2016 should expect to spend $377,000 on health care expenses over the course of their retirement
  • The average annual cost of treatment for cancer patients rose 19 percent to $58,097 in 2014

SOLUTION

  • Discuss options for covering out-of-pocket expenses: savings, assets or insurance coverage. Mutual of Omaha’s Cancer & Heart Attack/Stroke policies offer policies up to $100,000 with limited underwriting
  • Living comes with a price tag. With advances in medical treatment, people are surviving cancer and heart disease more frequently
  • Cancer & Heart Attack/Stroke policies fit in well with other products and protect income for a variety of expenses, from deductibles to prescription drug to travel or time off from work expenses
  • With a variety of price points and options, there are numerous ways to provide clients the coverage they need

Make sure you are providing your Medicare clients insurance for all their health care needs. Request details here.

Additional Updates:
 

Tags: mutual of omaha

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