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2025 Registration and Training for Marketplace Agents and Brokers

Posted by www.psmbrokerage.com Admin on Thu, Aug 01, 2024 @ 05:13 PM

FFM Training-2

Registration and Training for Marketplace Agents and Brokers

Plan year 2025 Marketplace registration and training is now available for new and returning agents and brokers on the Marketplace Learning Management System (MLMS). Plan year 2025 Marketplace training is available in English and Spanish.

New Agents and Brokers

Agents and brokers who are new to the Marketplace this year, or who did not complete plan year 2024 registration and training, are required to take the full Individual Marketplace training for plan year 2025. New agents and brokers can take Individual Marketplace training through the MLMS or the HHS-approved vendor(s).

Review this tip sheet for new agents and brokers (PDF) to help you through the registration and training steps.

You can also review the slides from this year’s Health Insurance Marketplace Registration & Training for New Agents and Brokers webinar. (PDF)

Returning Agents and Brokers

Agents and brokers who completed plan year 2024 Individual Marketplace registration and training will be eligible to take a shorter training for plan year 2025 as well as optional review modules. Returning agents and brokers can take training through the MLMS or the HHS-approved vendor(s).

Review this tip sheet for returning agents and brokers (PDF) to help you through the registration and training steps.

You can also review the slides from this year’s Health Insurance Marketplace Registration & Training for Returning Agents and Brokers webinar. (PDF)

Help On Demand for Agents and Brokers

Help On Demand is a consumer assistance referral system that connects consumers seeking assistance with Marketplace-registered, state-licensed agents and brokers in their area who can provide immediate assistance with Marketplace plans and enrollments. Help On Demand is a CMS-contracted service developed and hosted by Help On Demand (formerly known as BigWave Systems). Only agents and brokers who have completed Marketplace training and registration are eligible to participate in Help On Demand. If you are already registered to participate in Help On Demand, you can log into your account at https://marketplace.helpondemand.com

For more information and resources on Help On Demand, visit the Help On Demand page

Small Business Health Options Program (SHOP)

To participate in SHOP, agents and brokers must complete an MLMS profile and execute the SHOP Privacy and Security Agreement. Agents and brokers are strongly encouraged to complete the associated training, but it is not required. 

For more information about participating in SHOP, visit the SHOP page.

Agent and Broker Federally-facilitated Marketplace (FFM) Registration Completion List

The Agent and Broker FFM Registration Completion List (RCL) contains the National Producer Numbers (NPNs) for agents and brokers who have completed Marketplace registration for the current year. CMS posts this list as frequently as daily. All NPNs are self-reported by the agent or broker during Marketplace registration, and should be validated against state and/or other The National Association of Insurance Commissioners (NAIC) records to confirm state licensure.

CMS is updating the agent/broker licensure validation methodology in some states. Agents and brokers who do not have an approved health-related Line of Authority (LOA), as determined by their resident state, do not have access to Marketplace systems and are not allowed to assist consumers with Marketplace enrollment.

Agents and brokers can check their resident state licensure requirements to ensure they have an approved health-related LOA. State licensure questions should be directed to the resident State Department of Insurance authority found at the National Insurance Producer Registry (NIPR) at https://nipr.com/licensing-center/add-a-line-of-authority.

The Agent and Broker FFM Registration Termination List (RTL) contains the NPNs for agents and brokers whose FFM agreements and registration have been terminated by CMS. Termination is described in regulation at 45 CFR 155.220(f)-(g).

Issuers, web-brokers, and agents and brokers can access the RCL and RTL by following the link below:

Issuers, web-brokers, and agents and brokers can access the RCL and RTL data dictionaries by following the links below:

Source:
https://www.cms.gov/marketplace/agents-brokers/registration-training

 

Tags: Health Insurance, New Business Opportunities, ACA, 2025, ffm certification

U.S. Individual Health Insurance Market Soars to New Levels

Posted by www.psmbrokerage.com Admin on Thu, Aug 01, 2024 @ 01:47 PM

Mark Farrah

As of the first quarter of 2024, the U.S. individual health insurance market has reached unprecedented heights, with enrollment totaling approximately 24.3 million. This marks a significant increase of 4.9 million enrollees from the previous year, driven by several factors including regulatory changes and the aftermath of the COVID-19 pandemic.

The passage and implementation of the Affordable Care Act (ACA) initially spurred enrollment, though it faced declines due to legal challenges and policy changes. Since the end of the COVID-19 Public Health Emergency in May 2023, enrollment has surged, partly due to individuals transitioning from Medicaid to subsidized individual plans and the rising popularity of Individual Coverage Health Reimbursement Arrangements (ICHRAs).

Despite these gains, insurers face financial challenges with premium growth struggling to keep pace with rising medical expenses, leading to shifts in market participation. The average premiums per member per month (PMPM) increased to $542 in 1Q24, while claims rose to $427 PMPM, reflecting a market attempting to balance growth with cost management.

 

Tags: Health Insurance, New Business Opportunities, ACA

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

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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.

2-Apr-01-2024-05-54-23-0374-PMWorking with PSM Brokerage (PSM) offers a unique opportunity for insurance agents focusing on the senior market.

As a reputable FMO, we provide:

  • Unparalleled access to a wide range of products, including Medicare Advantage, Medicare Supplements, and other senior-focused insurance plans from leading carriers.
  • A comprehensive support system, which includes personalized training and mentoring that empowers agents to excel and grow in their careers.
  • Direct commission payments from carriers, ensuring that agents are rewarded promptly for their hard work.
  • Ownership of your book of business, allowing for long-term client relationships and sustained growth.
  • Added perks such as exclusive access to cutting-edge quoting and enrollment tools, discounted leads, free marketing services, and website development.
  • Agency building support as well as succession planning ideas, and exit strategies.

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.

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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.

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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.

Contact us today to explore how we can work together to achieve your goals and make a meaningful impact. Reach out to become part of a team where success is shared, and every agent is valued.



 

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

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.

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Tags: Medicare Advantage, Medicare Supplement, New Business Opportunities

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