News to Use for Agents in the Senior Market
A Publication of Senior Marketing Specialists
Week of December 12, 2016
What is a CMS True-Up?
New business payment after CMS verifies member is new to Medicare.
A Medicare Advantage Plan carrier will generally pay a higher amount of commission for the enrollment of a client who is new to a Medicare Advantage Plan vs. a client who has already carried a Medicare Advantage plan in the past. This additional amount is paid to the agent at a later time than the base commission because CMS has to verify that the individual is enrolling into a Medicare Advantage plan for the first time. This is known as a true-up.
Why is this important? When you are trying to balance your commission statements you will need to understand how carriers break down compensation.
Post AEP Hospital Indemnity Phone Script
Now is the Perfect Time to Sell Additional Hospital Indemnity Plans!
Current Client Follow Up Phone Script:
Hello, Mr(s) Client
While looking at your file I noticed that you have what I like to call an “unassisted” Medicare Advantage plan. This means that you have a Medicare Advantage plan which we reviewed during the Annual Enrollment Period and is definitely the best plan for you; however you do not have any additional coverage to help offset the out-of-pocket expenses that these plans leave you exposed to.
I’ve got some time available on ______ or ______ and would like to discuss helping you cover these areas, what time would be best for you?
Why is this important? This is important to both you and your clients. Your clients need to be protected against the out of pocket cost associated with a hospital stay. Think of a HIP plan as the “Medicare supplement” of Medicare advantage plans, just don’t say that to clients. Many clients can’t afford to have a zero premium plan without the help to pay these out of pocket expenses. As an agent operating a for profit business you are provided the extra income that comes from offering these plans.
Mutual of Omaha Promotional Material
Mutual of Omaha has many items that an agent can use at no cost like fliers and postcards etc. But they also have a separate website where you can purchase items like coasters, bags, shirts and more. They even have a tab for promotional gifts under $2. http://mutual.ideal-stores.com/default.asp
Why is this important? When you have the privilege to represent a popular brand like Mutual of Omaha you should use every opportunity to use it as a marketing tool.
NIHSeniorHealth Online Health Information – Stroke
NIHSeniorHealth makes aging-related health information easily accessible for family members and friends seeking reliable, easy to understand online health information. This site was developed by the National Institute on Aging (NIA) and the National Library of Medicine (NLM) both part of the National Institutes of Health (NIH). https://nihseniorhealth.gov/
Stroke – Each year in the United States, approximately 795,000 people have a stroke. On average, one American dies from stroke every four minutes. Stroke is the fourth leading cause of death in the United States, and causes more serious long-term disabilities than any other disease. Nearly three-quarters of all strokes occur in people over the age of 65.
Find out what happens during a stroke in this video: https://nihseniorhealth.gov/stroke/aboutstroke/video/stroke3_na.html?intro=yes
Why is this important? As an agent you should have a basic understanding of the health issues that your clients face. It will enable you to have more in-depth conversations during your sales/interview process.
Caregiving 101: On Being a Caregiver – Fact Sheet
This fact sheet is produced by Family Caregiver Alliance. FCA supports and sustains the important work of families nationwide caring for adult loved ones with chronic, disabling health conditions.
Why is this important? Many of your clients/prospects will likely provide caregiving or be assisted by a family member during a serious illness or injury. Being knowledgeable on this topic and knowing about resources like this will enable you to add value to your practice. Idea: Hold a Medicare 101 training for caregivers inside group employers as a method to let the community know you work in the senior market.