Agent Update Memo — July 2024
Agent Update Memo — July 2024
Below you will find new Medicare training and information both from Senior Marketing Specialists and the insurance industry as a whole.
Senior Marketing Specialists Updates
July 4th the Senior Marketing Specialists’ office will be closed.
Hiring new staff? For compliance and HIPAA training, CMS offers a free annual course!
Run candidates through the OIG Exclusion List. VerifyComply is a great resource.
Save documents, certificates, and results for up to 10 years.
- Collect scopes, drug lists, and update client profiles on MedicareCENTER through Client Sync!
Training:
In Person Trainings:
July 23rd — Blue Springs, MO
July 25th — St. Charles, MO
July 31st — Columbia, MO
- Live Webinars Happening through Integrity that will be hosted by our own Olivia Richardson & Chalen Jackson!
- Virtual Medicare Quick Start starting week of July 8th.
- July 10th @ 12PM — Spotlight on Bankers Fidelity
Resources on the upcoming industry changes:
AEP Disruptions: Updates to The Inflation Reduction Act recording
Medicare Industry Insider podcast — Trends and Compliance
Changes for 2024!
Some written pieces that discuss the industry changes further:
IRA Smoothing Provision & Prescription Payment Plan Q&A
Check out our video called Part D Drug Plan Smoothing Provision that covers both!
AEP Updates
Cert guidelines and directions coming on the AEP Toolkit.
Certification Dates (subject to change):
UHC – Available
AHIP / NABIP – Available
Devoted – Available
Zing – Available
Aetna – Available
Cigna – Available
Anthem – 7/2/24
Humana – 7/2/24
WellCare – 7/16/24
Essence – 7/25/24
Carrier Updates
- Update on Lumico business:
Effective July 1, 2024: No longer accepting new appointments for new or existing agents.
Appointment requests started prior to July 1, 2024 will continue to be processed.
Effective October 1, 2024: No longer accepting new business for Med Supp and Life Insurance products.
ACE rate increases:
8/1/24 Rate Change: AL, AK, AR, AZ, CO, DE, DC, FL, GA, ID, IL, IA, KS, MI, MN, MO, MT, NV, NH, NM, OH, OK, PA, RI, SC, SD, TX, UT, WV, WI, WY
9/1/24 Rate Change: LA, ND, TN, VT
10/1/24 Rate Change: INMS
1/1/25 Rate Change: KY, MD, NE, NJ, NC, VA
- Cigna CHLIC transitioning over to MedCo Containment Life Insurance Company (MCLIC). Read more on this transition here.
- UHC launching Jarvis enroll and platform refresh.
Aetna front runners must complete AHIP by 9/30 to receive the free AHIP benefit.
WellCare has transitioned to using NPNs and not WellCare ID’s. If you write business starting in July with your WellCare ID’s you will not get paid.
- Allstate is making Short Term insurance easy to sell now with the upcoming changes:
STM is changing how long you can have a plan starting on September 1st. Here are some things agents can do with Allstate before then:
Opening January 1st effective dates in July.
Deferred payment until December 31st.
Making it where you can still get a 3 year plan – so you could have a STM plan until 2028 and would not be effected by the changes on September 1st.
Bonus available – 15 policies, $500 for each 3 year plan and $250 for 2 year plans.
Anthem ending HRA payments (reminder Aetna and wellcare already have)
- HRA administrative fee payments are ending for non-SNP (non-Special Needs Plan) Medicare Advantage plans as of July 31, 2024 for enrollment effective dates through August 1, 2024.
- HRA administrative fee payments are ending for SNP (Special Needs Plan) Medicare Advantage plans as of September 30, 2024 for enrollment effective dates through October 1, 2024.
Industry & Compliance Updates
Remember when gathering SOA’s and drug lists that the method of gathering must be HIPAA compliant. MedicareCENTER, Mail, Fax, RetireFlo, etc. are compliant.
SCAN and Elevance lawsuits resulted in at least a partial judgement in favor of the plaintiffs. CMS is now reviewing ALL plans’ Star Ratings and will reissue them soon.
Postage stamps will increase by 5 cents on July 14th, from 68 cents to 73 cents.
Your team treats agents like family, and always works hard for the success of the agents. That is very much appreciated!
~ Judith F.
Our AEP Toolkit has all the marketing resources, certification walkthroughs, carrier specific details, and tools you’ll need in one easy to access spot!
Sources:
cited in article
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