Medicare Blog | Medicare News | Medicare Information

10 Reasons to Use E- Applications

Posted by www.psmbrokerage.com Admin on Thu, Nov 02, 2023 @ 11:01 AM

10 Reasons to Use E-Applications

Since the Coronavirus lock down, the ability to use e-applications has become a hot topic. The lockdown really highlighted the importance of being able to sell from home and complete applications online.

In an industry based on relationships, it is still possible to conduct business, successfully, and build trust with clients without meeting face-to-face.

There are still ways to connect with customers, such as: over the phone or via video call.

E-Apps give you the flexibility to not be right there with your customer but still be able to get a completed application from them.

Agents are starting to realize the many benefits of filling out applications online. This isn’t relegated to times of mandatory social distancing. There are good reasons agents should be using e-applications all the time, whether we have a quarantine situation or not.

E-apps are a great way to submit business. They are quick and easy for agents and clients alike, and can be signed electronically. An application that may take you 30-40 minutes by paper may take you just 10 minutes online.

10 Reasons to Use E-Applications

1. E-Apps Are Quicker

E-apps are a much quicker way to do business. They aren’t just quicker to fill out, the time to process the applications is also sped up. In some cases, turnaround time for approvals can be decreased by up to 2 weeks.

2. Fewer Mistakes With E-Apps

There are far less mistakes with an online application, since the application can alert you if something is missed or input incorrectly.

3. Pre-Qualify your clients

You can pre-qualify your clients by answering required health questions. No waiting days just to find out if they qualify. Find out instantly with most carriers.

4. E-Apps Save Time

In addition to application and approval time savings there are more efficiencies agents gain by using this process. An agent will also benefit from the time not having to drive out to client’s homes as they would with paper applications, not to mention the associated costs of travel.

5. Serve More Clients With the Time You Save

The time gained by using online e-applications can now be put into dealing with more clients, increasing the number of applications that can be submitted compared to the old manual process.

6. Covid Has Made a Virtual Meeting a Friendly Option

People can be hesitant when it comes inviting a stranger into their home. This can make a virtual meeting and e-app option much easier to sell to clients.

7. Get Paid to Submit E-Apps

You heard that right. Most insurance companies are offering bonuses to agents when they use e-apps. Why are they doing this? Because they benefit from the efficiency of online applications just like everyone else does. As agents turn more and more to online applications it allows insurance companies to streamline their business around that process.

8. Quicker Underwriting Approval

Some carriers offer immediate underwriting approval. With these carriers you know on the spot if your client is declined. No more waiting for days just to find out the app was approved or not.

9. Complete Multiple Apps at Once

Some carriers such as Mutual of Omaha and Cigna (as of the date of this article) allow you to submit applications for different plans. Ex. A client that is looking for a Med Supp. and a cancer policy can be done in one pass without the redundant paperwork.

10. Get Paid More Quickly

Since the entire process of completing, submitting and approval of applications is quicker with e-apps, then you will obviously get paid quicker. Getting paid quickly means more money in your pocket in less time. Its hard to argue with those types of benefits.

Don’t think of handling applications online as a novel method to be used in just a few circumstances.

There is no reason not to be using e-apps as often as possible. Using e-applications is simply the best method available right now. It will benefit you, your clients and the carrier if you do.

As always , if you have any questions about the tools we have available to help you become more productive, our experienced marketers are here to help.

0 Comments Click here to read/write comments

Tags: Online Enrollment

Medicare Scope of Appointment Form Download

Posted by www.psmbrokerage.com Admin on Wed, Sep 27, 2023 @ 02:14 PM

The Scope of Appointment (SOA) process is a crucial aspect of Medicare marketing and sales activities designed to protect the interests of Medicare beneficiaries and ensure compliance with regulations. The SOA process is primarily associated with Medicare Advantage (Part C) and Medicare Prescription Drug Plans (Part D) but can also apply to other Medicare-related products.

Here's an overview of the Medicare Scope of Appointment process:

What is the Scope of Appointment (SOA)?

The Scope of Appointment is a document that outlines the specific topics and types of information that a Medicare sales agent or broker intends to discuss with a Medicare beneficiary during a face-to-face or telephone appointment. It is a critical tool to ensure that the beneficiary understands the purpose of the meeting and has consented to discuss certain Medicare-related topics.
Purpose of SOA:

The SOA process serves several important purposes:
- Ensures that beneficiaries have control over the topics discussed during the appointment, preventing agents from presenting unwanted or unnecessary information.
- Helps prevent instances of coercion or aggressive sales tactics.
- Demonstrates compliance with Medicare regulations, specifically the Medicare Marketing Guidelines.
- Protects beneficiaries by ensuring they only receive information they've agreed to hear about.
When is an SOA Required?

The SOA process is typically required when a Medicare sales agent or broker wants to have a one-on-one, in-person or telephone conversation with a Medicare beneficiary to discuss specific Medicare-related products, such as Medicare supplement plans, Medicare Advantage plans or Medicare Part D prescription drug plans. It's important to note that unsolicited contact without an SOA can lead to penalties.
Completing the SOA Form:

To initiate the SOA process, the agent or broker must provide the beneficiary with an SOA form, which includes the following information:
- Beneficiary's name and contact information.
- Date of the appointment.
- The agent's or broker's name and contact information.
- A list of the specific topics or products that will be discussed during the appointment.
Obtaining Consent:

Before discussing any topics not listed on the SOA form, the agent or broker must obtain explicit consent from the beneficiary. The beneficiary can either agree to discuss the additional topics or decline.
Documenting the SOA:

The agent or broker is required to document the SOA process, including a record of the beneficiary's consent or refusal to discuss additional topics. Documentation is essential for compliance purposes and to provide a record of the beneficiary's choices.
The 48 Hour Rule:

Introduced in the autumn of 2023, the recently implemented 48-hour rule is designed to combat deceptive marketing tactics and safeguard the well-being of beneficiaries. As per the rule, agents are required to furnish beneficiaries with a Scope of Appointment (SOA) form at least two days prior to a scheduled appointment.

To adhere to the rule, beneficiaries must sign the SOA form at least 48 hours before their appointment. However, walk-in appointments and appointments that occur within four days of the end of the enrollment period are exempted from this requirement. It is important to note that Scope of Appointment forms remain valid for a period of up to twelve months from the beneficiary's signing.
Penalties for Non-Compliance:

Failing to adhere to the SOA process and other Medicare marketing regulations can result in penalties, including fines, suspension of sales activities, or revocation of agent/broker licenses.

It's important to note that the specific requirements and regulations regarding the SOA process can change over time. Therefore, Medicare sales agents, brokers, and organizations involved in marketing Medicare supplement plans should stay up-to-date with the latest guidance and requirements issued by the Centers for Medicare & Medicaid Services (CMS) to ensure compliance.

Download Generic Scope of Appointment form (SOA)

Questions? Call us at 800-998-7715 and we would be happy to assist.

Newest Blog Posts | All Blog Posts

0 Comments Click here to read/write comments

Tags: Online Enrollment, Medicare Advantage, Part D, Scope of Appointment, SOA

SunFire Agent Reporting

Posted by www.psmbrokerage.com Admin on Thu, Sep 21, 2023 @ 02:32 PM

Agent Reporting

Coming September 2023... Agent Reporting - a new feature designed to enhance the SunFire Blaze and Blaze Connect experience by providing agents transparency into their individual performance.

Agents will have visibility into their production since January 1, 2023. To access this new function, click the graph icon on the left side of your screen and select the “Performance” tab at the top.

This report will showcase:

Total number of enrollments submitted across Blaze & Blaze Connect through the instance you are utilizing, broken down by Carrier, Product Type, and Servicing Area.
Eligible HRA completion rates, identifying enrollments with an HRA still available.
Eligible Value-Based Care submission rates, identifying enrollments with a VBC Opportunity still available.
Eligible Mail-Order Pharmacy Consent Form completion rates, identifying enrollments with a Consent Form still available.
Individual book of business footprint across the country, visualized by heat map.
Access to a helpful suite of unique SunFire quoting flow features to aid in beneficiary information gathering such as, Customer Look Up, Doctors and Drugs collected and Health Utilization Frequency.
An enrollment trend algorithm showcasing estimated monthly projections based on current month’s production.
A drop-down filter allowing you to easily view data on a specific day or within a selected time frame.

Independent agents play a vital role in helping seniors secure the most cost-effective Medicare plans for their individual needs. This comprehensive tool simplifies the sales process with multi-carrier shopping and enrollment platforms wrapped into a single online experience.

And best of all, this platform is available at no cost to PSM agents. Request details today and make sure you have access to this cutting edge technology at your fingertips.

SunFire Agent Reporting Capabilities (PDF)

Request Access Today!

Newest Blog Posts | All Blog Posts

0 Comments Click here to read/write comments

Tags: Online Enrollment, Medicare Advantage, Medicare Supplement, Part D, SunFireMatrix

We are excited to announce the initial launch of SunFire’s Med Supp Quoting and Enrollment Experience

Posted by www.psmbrokerage.com Admin on Wed, Aug 30, 2023 @ 08:52 AM

We are excited to announce the initial launch of SunFire’s Med Supp Quoting and Enrollment Experience, arriving 10/1! We believe they have created a revolutionary platform that will significantly improve your efficiencies and profitability. As with any new product, their goal is to build a strong foundation with key features and continue to enhance the system over time, including additional carrier integrations.

Features Included in the Initial Launch

Accurate quoting for 49 carriers with enrollment capabilities for 17 carriers:
- Full enrollment integration with Aetna, Cigna and Anthem.
- With MOO, UHC, Humana, and Aflac slated for the new year.
- Link outs for the other 11 carriers, where the application will be completed within the carriers’ portal.

A Med Supp specific needs assessment, which captures drug and medical condition data, with the intention of alerting agents to carriers that will be unlikely to pass the applicant through underwriting.
If our algorithm suggests that Med Supp may not be the best path, the agent can easily transition into the MA/MAPD Quoting and Enrollment flow with all client data staying intact.
Post enrollment, our new bundling experience creates real agent efficiencies by providing the ability to capture drug and demographic data one time and pass that information to the DVH and PDP applications displayed post sale.
- The DVH partners currently integrated for quote and enroll include NCD and Aetna with a more robust suite of DVH integrations, including MOO, UHC, Cigna, Humana, Aflac, GTL and others slated for the coming months.
- PDP plans are available and will be shown to agents who are ready to sell pre-filled, with pricing based on previously captured pharmacy and drug cabinet info.

Please keep in mind we will only quote plans that are RTS for the agent

And best of all, this platform is available at no cost to PSM agents. Request details today and make sure you have access to this cutting edge technology at your fingertips.

SunFire Quote and Enroll Capabilities (PDF)
Medicare Supplement Platform Carriers (PDF)
Medicare Supplement One-Pager (PDF)

Request Access Today!

Newest Blog Posts | All Blog Posts

0 Comments Click here to read/write comments

Tags: Online Enrollment, Medicare Advantage, Medicare Supplement, Part D, SunFireMatrix

YourFMO SunFire: New MAPD Enrollment Form Training Video

Posted by www.psmbrokerage.com Admin on Tue, Jul 25, 2023 @ 02:00 PM

Medicare Advantage Update
New Enrollment Forms 8/8/23

Enrollment Form Updates

SunFire has completely redesigned their Medicare Advantage enrollment forms, incorporating the latest compliance requirements plus several workflow enhancements, creating the most intuitive and compliant enrollment experience possible for agents and the customers they serve.

Watch the new training video here.

Highlights of the new MAPD forms include:

Reduced number of pages in Blaze from 9 to 5.
Reordered & redesigned questions and input fields for increased efficiency.
Incorporated PY2024 guidance from all of our 50+ MAPD enrollment carriers.
Clarified disclaimer to improve both the agent and applicant enrollment experience.
Increased uniformity between Blaze and BlazeConnect, benefitting agents.
...All this, while reducing the time to complete an enrollment app on SunFire!

Key Dates

7/14: Training video covering our new MAPD forms added to SunFire
7/25 (target): New MAPD forms will be added to training sites
8/8: New MAPD forms go live

Sneak Preview

Welcome to a new era in Medicare enrollment.

PSM has teamed up with SunFire to bring you a revolutionary new tool to write more Medicare business. With our all-inclusive platform, you can sell Medicare plans on your terms. Offer top carriers, receive the best commissions, all with industry-recognized service and support.

To learn more about the SunFire Medicare Enrollment platform and to get registered, request more details here.

And best of all, this platform is available at no cost to PSM agents. Request details today and make sure you have access to this cutting edge technology at your fingertips.

Newest Blog Posts | All Blog Posts

0 Comments Click here to read/write comments

Tags: Online Enrollment, Medicare Advantage, SunFireMatrix

Countdown to AEP!

Posted by www.psmbrokerage.com Admin on Mon, Jul 17, 2023 @ 04:30 PM

countdown to AEP-1

July 7 marked 100 days until the start of Medicare's Annual Enrollment Period – affectionally known as AEP – and it's time to get excited! With new rules and regulations from CMS taking affect and new carrier products to learn and master, it's important that all of us to stay up to date and think through our collective strategies. According to recent statistics, more than 30 million Americans are enrolled in Medicare Advantage plans, making them eligible to sign up or renew their coverage during this AEP and start their new Medicare benefits on Jan. 1, 2024.

The best way to stay informed and prepared for the upcoming enrollment period is through research and leaning in to all the available resources at your fingertips. Make sure to review the new CMS rules and regulations as they are released and familiarize
yourself with the available products. Our CMS Task Force, led by our compliance and legal teams, is hard at work deciphering, analyzing and understanding processes for all of us to remain successful, while keeping compliant. As a reminder, our CMS FAQ webpage is your one-stop resource for rules interpretation, as well as for answers to question many colleagues have already submitted.

Get to know the Medicare products you are selling! Become knowledgeable about the benefits of the different plans available, rate changes heading into 2024, and competitiveness of the offerings in the areas you serve. Check out the new 2024 Medicare Advantage and Part D Rate Announcement Fact Sheet and the 2024 Medicare Advantage and Part D Final Rule – both available on the CMS.gov website.

Now is the time to reconnect with key clients ahead of the AEP 2024 selling season. Take
the opportunity to educate and reaffirm your relationships, while also establishing new ones. Aligned with new CMS marketing rules, this is also a great opportunity to follow best practices in informing clients of any new ancillary products that will be available when the enrollment period begins.

At the same time, now is also the time to start strategizing for how you’ll achieve your objectives this AEP, noting the important role this selling season plays in setting the tone for the new year. It starts with recruiting and certifications, and then fleshing out your game plan for how you’ll drive productivity throughout the AEP selling season.

Figure out which platforms you want to use, create and organize your promotional materials and plan out how you’ll drive activity. Doing this ahead of time will ensure that you are well prepared when the enrollment period begins. And don’t forget about our AEP Resource Page as your one-stop shop.

We are prepared to help you execute your AEP objectives

The complexity of the AEP process and the everchanging landscape of health care requires a comprehensive understanding of different types of plans and coverage options, timelines, and deadlines associated with AEP. Preparing your team for AEP is key! PSM’s approach - crafted and fine-tuned - takes a holistic approach to insurance distribution, one that allows us to create tailored partnership models with our agents and financial professionals and their affiliated companies to deliver what they and their clients need.

This includes a product portfolio of the nation’s best health and wealth solutions designed to meet the needs of consumers’ health and financial wellbeing, no matter where they are on their retirement journey.

The start of Medicare’s Annual Enrollment Period is just around the corner, and the time to prepare is now. Research the new rules and regulations, familiarize yourself with the different plans, and map out strategies that align with your goals. With the support and preparation from your PSM team, you will be ready and excited to help your clients make the best choices to live a happy, healthy retirement.

The AEP is right around the corner and there are some exciting opportunities on the horizon for 2024. Get prepared early to ensure a successful Annual Enrollment Period. We are here to help!

Resources:

Newest Blog Posts | All Blog Posts

0 Comments Click here to read/write comments

Tags: Online Enrollment, Medicare Advantage, CMS, AEP, Compliance, 2024, Resources

Sell Medicare Plans Over the Phone - Telesales for Medicare Plans

Posted by www.psmbrokerage.com Admin on Thu, Mar 30, 2023 @ 04:32 PM

The Medicare market presents a significant phone sales opportunity for insurance agents. Here are some reasons why:

Large and growing market:
According to the Centers for Medicare & Medicaid Services, more than 61 million people were enrolled in Medicare in 2020, and this number is expected to grow in the coming years as the baby boomer generation reaches retirement age.

High demand for supplemental coverage:
Medicare covers many medical expenses, but there are still gaps in coverage that can leave beneficiaries with significant out-of-pocket costs. As a result, there is a high demand for supplemental insurance coverage, such as Medicare Advantage plans, Medigap policies, and prescription drug plans.

Convenience for beneficiaries:
Many beneficiaries prefer the convenience of purchasing insurance over the phone, as it allows them to compare plans and enroll from the comfort of their own homes.

Opportunity for cross-selling:
Selling Medicare insurance over the phone can also provide an opportunity to cross-sell other insurance products, such as life insurance, long-term care insurance, and annuities.

Compliance:
The Centers for Medicare & Medicaid Services has strict rules and regulations governing the marketing and sale of Medicare insurance products, including specific requirements for phone sales. However, with proper training and compliance procedures in place, agents can successfully navigate these regulations and grow their business.

PSM has teamed up with YourMedicare ℠ to bring you a revolutionary new Medicare enrollment platform to write more Medicare business. With our all-inclusive platform, you can sell Medicare Advantage and Part D plans on your terms.

Quote and enroll your clients online with our free platforms - View details

In summary, the Medicare market presents a significant phone sales opportunity for insurance agents, with a large and growing market, high demand for supplemental coverage, convenience for beneficiaries, opportunity for cross-selling, and compliance regulations in place to ensure ethical and responsible sales practices.

Source: https://chat.openai.com/

0 Comments Click here to read/write comments

Tags: Medicare Advantage plans, Online Enrollment, Success Tips, medicare supplement insurance, online sales