Networking with healthcare providers is a strategic approach for insurance agents looking to expand their referral base. Effective networking can open doors to a steady stream of potential clients who trust their healthcare providers and may therefore trust the referrals they make. Here’s a guide to help you network successfully with healthcare providers and secure valuable referrals: Identify Potential Healthcare ProvidersStart by identifying healthcare providers who frequently interact with Medicare-eligible individuals. This group includes general practitioners, geriatric specialists, cardiologists, endocrinologists, and staff at local clinics, hospitals, and nursing homes. Dentists and pharmacists are also great contacts as they often serve a significant number of senior patients. Understand Their Needs and ConcernsBefore approaching healthcare providers, understand their primary concern: the well-being of their patients. Any discussion about potential referrals should be framed around how you can help their patients navigate Medicare choices more effectively. Be prepared to demonstrate a thorough understanding of Medicare options and the specific needs of seniors. Make the Initial ContactIntroduce yourself professionally via email or letter, briefly explaining your expertise in Medicare and your interest in forming a mutually beneficial partnership. Follow up with a phone call or request an in-person meeting to discuss how you can work together. Download Sample Provider Letter Prepare for the MeetingWhen you secure a meeting, prepare materials that succinctly explain your services, your expertise in Medicare, and testimonials or case studies that showcase your ability to assist seniors with their Medicare needs. Be concise and focus on how your services can add value to the healthcare provider's practice by helping their patients. Offer Value and EducationOffer to provide educational workshops or seminars for the provider’s patients about Medicare options. You can also create informative brochures or flyers that the provider can share with their patients. Make sure these materials are clear, professional, and free of overt sales pitches. Be a Resource, Not a SalespersonPosition yourself as a resource rather than a salesperson. Make it clear that your primary goal is to educate and assist patients in making informed Medicare choices. This approach is more likely to earn the trust and respect of healthcare providers. Follow Up RespectfullyAfter your initial meeting, follow up with a thank-you note expressing your appreciation for their time and reiterating how you can assist their patients. Keep the lines of communication open by checking in periodically with updates on Medicare or additional resources you can offer. Maintain Professionalism and IntegrityAlways maintain a high level of professionalism and integrity. Ensure that all interactions with healthcare providers and their patients adhere to the highest ethical standards. Respect patient privacy and comply with all relevant regulations, including HIPAA. Evaluate and Adapt Your ApproachRegularly evaluate the effectiveness of your networking efforts. If certain approaches or messages don’t seem to resonate, be prepared to adapt your strategy. Ask for feedback from healthcare providers about how you can better meet their needs and the needs of their patients. Build and Nurture the RelationshipTreat every interaction as a step towards building a long-term relationship. Send regular updates about changes in Medicare, new services you offer, and general news that may affect their patients. Consider organizing occasional networking events or casual meet-ups to keep the relationship strong and active.
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Medicare Blog | Medicare News | Medicare Information
Unlocking Referral Success: Strategic Networking with Healthcare Providers for Medicare Agents
Posted by www.psmbrokerage.com Admin on Tue, Apr 30, 2024 @ 04:47 PM
Tags: Referrals
Earn Extra Cash with LifeShield’s Survivor Cash for Apps Bonus Program!
Posted by www.psmbrokerage.com Admin on Mon, Apr 29, 2024 @ 03:49 PM
Earn Extra Cash with LifeShield’s Survivor Cash for Apps Bonus Program!
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Tags: Final Expense, Bonus Program, LifeShield
For insurance agents specializing in the senior market, cross-selling additional products to Medicare enrollees is a powerful strategy to enhance value for clients while boosting your business’s profitability. With the right approach, you can effectively address the comprehensive needs of seniors, who often require more than just health insurance to feel secure. Here’s a look at how you can excel in cross-selling by expanding your portfolio beyond basic Medicare plans. Understanding the Needs of Your ClientsSeniors have unique needs and concerns that extend beyond healthcare. Issues such as long-term care, dental health, vision, and even financial security are critical. By understanding these needs, you can tailor your cross-selling strategies to offer comprehensive solutions that resonate deeply with your clients. Popular Cross-Sell Products to Consider:
Tips for Effective Cross-Selling
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Tags: Final Expense, Annuities, Hospital Indemnity, cross selling, dental plans
Leveraging Social Media as an Insurance Agent
Posted by www.psmbrokerage.com Admin on Thu, Apr 25, 2024 @ 11:01 AM
In today's digital world, social media is a powerful tool that insurance agents can utilize to build relationships, enhance visibility, and ultimately grow their business. With billions of users across platforms like Facebook, Instagram, LinkedIn, and Twitter, social media provides a unique opportunity for agents to connect with a diverse audience. This guide will show how insurance agents can effectively leverage social media to reach potential clients and establish a strong online presence.
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2024 NABIP Texas Annual Conference Recap
Posted by www.psmbrokerage.com Admin on Thu, Apr 25, 2024 @ 09:31 AM
On behalf of PSM Brokerage, we extend our heartfelt thanks to each of you who participated in this year's NABIP-TX Annual Conference for insurance agents. Your presence and engagement made the event a resounding success! We hope you found the sessions enlightening and beneficial, especially the insights on how to build an effective team, and the valuable discussions on understanding loss ratios, company data, and managing carrier books of business. The focus on Senior Dental Plans and the artful strategies behind Cross Selling provided tools that will help you secure and expand your client base. Additionally, we hope the in-depth sessions on leveraging social media effectively with JoAnna Barker and understanding the evolving landscape of 2025 Marketing Rules and CMS Regulations with Danielle Kunkle Roberts have equipped you with the necessary skills to optimize your marketing efforts and stay compliant in your practices.
The insights provided by Greg Segovia III on the Ins and Outs of an FMO relationship and Sydney Schoellman’s guidance on navigating the escalation path with your carriers are crucial tools for enhancing your business operations and improving your professional interactions. These sessions were designed to give you a comprehensive toolkit for tackling the complex challenges of today’s insurance market, ensuring that you are well-prepared to meet and exceed your professional goals. Your enthusiasm and active participation are what drive PSM to sponsor these unique and proprietary learning experiences. We are thrilled to support your journey as you implement some of these strategies to grow and scale your businesses. Thank you once again for your participation and for making the conference a memorable gathering. We look forward to seeing you next year with even more engaging content and networking opportunities to help you succeed in the dynamic world of insurance.
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Tags: Hospital Indemnity, Medicare Advantage, Insurance Marketing, Facebook, Goal Setting, DSNP, Enrollment Tools, Guide, Resources, NABIP
3 Big Medicare Changes for 2025
Posted by www.psmbrokerage.com Admin on Wed, Apr 24, 2024 @ 11:41 AM
By Fortune – April 22, 2024 It may be months before the calendar flips to 2025, but not for Medicare. The Centers for Medicare & Medicaid Services (CMS), which runs the program, just announced two major changes for 2025 you’ll want to know about. Next year, Medicare will also dramatically alter the maximum amount beneficiaries will need to pay out-of-pocket for their covered medications. Read the article.
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Tags: Medicare Advantage, CMS
Shine brighter than ever when you sell Med Supp with Mutual of Omaha
Posted by www.psmbrokerage.com Admin on Tue, Apr 23, 2024 @ 09:18 AM
Put on your shades and brace yourself for a dazzling Medicare supplement sales opportunity that's so stunning it'll get your full attention. Your time to shine starts soon. With each Med Supp sale you make from May 1 through July 31, you're not just brightening your sales outlook — you're one step closer to winning one of these sparkling cash rewards: Your business can also help you earn additional rewards in the Broker Bonus program and counts as credit toward the Marketing Credits program and a Mutual Sales Leaders trip. Shoot for the stars and light up the Med Supp charts by earning the maximum reward of $5,000 during the program period!
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Introducing Allstate Final Expense Plans
Posted by www.psmbrokerage.com Admin on Mon, Apr 22, 2024 @ 04:27 PM
Introducing Final Expense This new plan helps your customers take control of their end-of-life expenses. The total cash benefit is paid to their beneficiary, and they can use it any way they see fit. Final Expense offers two plan levels: Graded1 and Level. Plans offer customers the ability to choose their own benefit level in $1,000 increments.
Please note:
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Tags: Final Expense, Allstate
Mutual of Omaha: Annual Cost-of-Care Study
Posted by www.psmbrokerage.com Admin on Mon, Apr 22, 2024 @ 03:58 PM
The Cost-of-Care Study Results Are In Every year, Mutual of Omaha conducts a cost-of-care study in all 50 states, and the results are in. The cost of services continues to rise and the average cost for a home health aide is over $70,000 a year. They've updated their cost-of-care tools to reflect the changes in price and to help producers guide the conversation about how clients intend to pay for their long-term care.
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Tags: long term care, mutual of omaha
Help Clients Prepare, Protect, and Enjoy Retirement with RPM
Posted by www.psmbrokerage.com Admin on Mon, Apr 22, 2024 @ 11:32 AM
Retirement Plus Multiplier® (RPM) Annuity Highlights:
*All product recommendations must be prioritized in the consumer’s best interest. What Phase is Your Client In:Whether your client is currently accumulating their wealth, preparing for retirement, or in retirement, RPM may be a helpful addition to their retirement strategy. Prepare Protect Enjoy
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Unlock New Opportunities with DSNP Plans
Posted by www.psmbrokerage.com Admin on Wed, Apr 17, 2024 @ 10:14 AM
Download our helpful guide to deepen your understanding of selling Dual Special Needs Plans to seniors. This essential resource is tailored to help agents like you navigate the complexities of these plans, highlighting key strategies for effectively reaching and serving the senior demographic. Whether you're new to this segment of Medicare or looking to refine your approach, our guide provides valuable insights and practical tips to enhance your sales techniques and improve client engagement. The Breakdown:
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Tags: Medicare Advantage, DSNP, Guide
Guide to Scaling Your Medicare Business
Posted by www.psmbrokerage.com Admin on Wed, Apr 17, 2024 @ 10:13 AM
Tags: Medicare Advantage, Medicare Supplement, Insurance Marketing, Digital Marketing, Agency Building
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
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. Working with PSM Brokerage (PSM) offers a unique opportunity for insurance agents focusing on the senior market. As a reputable FMO, we provide:
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.
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. 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.
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
Allstate Final Expense Highlights
Posted by www.psmbrokerage.com Admin on Tue, Apr 16, 2024 @ 03:35 PM
When your customer chooses Final Expense, they reduce the potential financial impact of their death on loved ones. This plan pays the total cash benefit to their beneficiaries to use any way they need, such as for funeral costs, credit card debt, or medical expenses. There’s more to Final Expense than a cash benefit on a policyholder’s passing, so check out the value it can offer your customers. Not appointed with Allstate? Request details here. Highlights
Plan Features
Quoting and enrolling - Log in to Agent Back Office at ngahagents.ngic.com to start your quoting process. If you are unable to quote online, call your sales team for assistance.
THIS PLAN PROVIDES LIMITED BENEFITS. For agent use only. Not to be distributed to consumers. Allstate Health Solutions markets products underwritten by National Health Insurance Company, Integon National Insurance Company, and Integon Indemnity Corporation. AHS_FE_1569 (02/2024) © 2024 Allstate Insurance Company. allstate.com or allstatehealth.com
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Tags: Final Expense, Allstate
Empower Your Business with the PSM Brokerage Marketing Hub
Posted by www.psmbrokerage.com Admin on Tue, Apr 16, 2024 @ 03:04 PM
The PSM Marketing Hub is your gateway to a carefully crafted and compliant collection of premium, easy-to-use marketing templates designed by our marketing team with your needs in mind.
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Tags: Insurance Marketing, Digital Marketing, PSM Marketing Hub
Royal Neighbors Single Premium Whole Life (SPWL)
Posted by www.psmbrokerage.com Admin on Tue, Apr 16, 2024 @ 03:04 PM
Royal Neighbors of America’s Single Premium Whole Life (SPWL) is a product that offers a simple concept for positioning the value of life insurance in a wealth transfer sale. By purchasing SPWL, your clients can increase the amount they leave to their loved ones. May be suitable for a client where:
Financial needs met by the product:
Target market:
#1 Riders not available in all states. See also the “Available Rider” section.
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Product Spotlight: Devoted Health
Posted by www.psmbrokerage.com Admin on Tue, Apr 16, 2024 @ 03:03 PM
PSM is proud to spotlight Devoted Health Medicare Advantage Plans We are delighted to promote our partnership with Devoted Health, making their highly coveted Medicare Advantage plans available. This presents a prime opportunity for you to join a successful team and propel your career in the Medicare industry to new heights! Ask us for details on what sets Devoted apart from the competition — and why you won’t want to sell others' products. You won’t regret it!.
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NABIP Professional Development Day recap
Posted by www.psmbrokerage.com Admin on Fri, Apr 12, 2024 @ 01:52 PM
PSM was a proud sponsor at this years NABIP Austin - Professional Development Day. PSM Brokerage recently sponsored and participated in the NABIP Professional Development Day, an event that offers substantial benefits for agents, agencies, and organizations within the insurance industry. The event provided a valuable platform for licensed agents and NABIP members to advance their skills and knowledge through ongoing learning and collaboration, enhancing career growth and boosting industry competence and productivity. We are immensely proud to be part of this collective effort and look forward to continued participation in future events. Thank you to all who participated!
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Tags: NABIP
CMS: Contract Year 2025 Medicare Advantage and Part D Final Rule (CMS-4205-F)
Posted by www.psmbrokerage.com Admin on Fri, Apr 12, 2024 @ 09:08 AM
Background On April 4, 2024, the Centers for Medicare & Medicaid Services (CMS) issued a final rule that revises the Medicare Advantage Program, Medicare Prescription Drug Benefit Program (Medicare Part D), Medicare Cost Plan Program, Programs of All-Inclusive Care for the Elderly (PACE), and Health Information Technology Standards and Implementation Specifications. Additionally, this final rule addresses several key provisions that remain from the CY 2024 Medicare Advantage and Part D proposed rule, CMS-4201-P, published on December 14, 2022. Together, the changes in this final rule build on existing Biden-Harris Administration policies to strengthen protections and guardrails, promote healthy competition, and ensure Medicare Advantage and Part D plans best meet the needs of enrollees. In addition, these policies promote access to behavioral health care providers, promote equity in coverage, and improve supplemental benefits. This fact sheet discusses the major provisions of the 2025 final rule which can be downloaded here: https://www.federalregister.gov/public-inspection/2024-07105/medicare-program-medicare-advantage-and-the-medicare-prescription-drug-benefit-program-for-contract Many individuals with Medicare rely on agents and brokers to help navigate complex Medicare choices as they comparison shop for coverage options. The Medicare statute requires that CMS must establish guidelines to ensure that the use of compensation creates incentives for agents and brokers to enroll individuals in the Medicare Advantage or Part D plan intended to best meet the prospective enrollee’s health care needs. However, excessive compensation, and other bonus arrangements, offered by plans to agents and brokers can result in individuals being steered to some Medicare Advantage and Part D plans over others based on the agent or broker’s financial interests, rather than the prospective enrollee’s health care needs. CMS is cracking down on that. Specifically, CMS is finalizing requirements that redefine “compensation” to set a clear, fixed amount that agents and brokers can be paid regardless of the plan the individual enrolls in, addressing loopholes that result in commissions above this amount that create anti-competitive and anti-consumer steering incentives. The provisions of this final rule, which are applicable beginning with the upcoming Annual Enrollment Period, ensure that agent and broker compensation reflect only the legitimate activities required of agents and brokers, by broadening the scope of the regulatory definition of “compensation,” so that it is inclusive of all activities associated with the sales to/enrollment of an individual into a Medicare Advantage or Part D plan. In response to feedback from stakeholders, CMS is increasing the final national agent/broker fixed compensation amount for initial enrollments into a Medicare Advantage or Part D plan by $100, which is an amount higher than what was proposed ($31). CMS believes this increase will provide agents and brokers with sufficient funds to serve individuals with Medicare. This increase will eliminate variability in payments and improve the predictability of compensation for agents and brokers. This increase will be added to agent and broker compensation payments for the Annual Election Period in Fall 2024 and applied to all enrollments effective in CY2025 and future contract years. Additionally, the final rule generally prohibits contract terms between Medicare Advantage organizations/Part D sponsors and middleman Third Party Marketing Organizations (TPMOs), such as field marketing organizations, which may directly or indirectly create an incentive to inhibit an agent or broker’s ability to objectively assess and recommend the plan that is best suited to a potential enrollee’s needs. In the final rule, CMS provides several examples of contract terms that will be impermissible under this prohibition, including provisions offering volume-based bonuses for enrollment into certain plans. These final policies advance the goals of President Biden’s historic Competition Council and Executive Order signed in July 2021, by helping to ensure a robust and competitive Medicare Advantage marketplace.
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Tags: Medicare Advantage, CMS
Hospital Indemnity Benefit Needs Estimator
Posted by www.psmbrokerage.com Admin on Thu, Apr 11, 2024 @ 10:10 AM
Offering hospital indemnity plans allows insurance professionals to meet the evolving needs of healthcare consumers, provide valuable supplemental coverage, and offer added financial protection in times of medical uncertainty.By providing fixed benefits for hospital stays and medical services, hospital indemnity plans offer a layer of financial protection that helps individuals manage unexpected healthcare costs more effectively. Download this helpful resource today.
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SunFire Medicare Supplement & DVH Launch Details
Posted by www.psmbrokerage.com Admin on Tue, Apr 09, 2024 @ 01:28 PM
Medicare Supplement and Dental, Vision & Hearing (DVH) will be available starting April 10th. The new platform gives you more flexibility to offer additional benefits and improve efficiency. We’ve built a strong foundation with key features and will continue to add carrier integrations and other enhancements. Medicare Supplement 54 Carriers will be available for Medicare Supplement Quoting, 5 Carriers will be available for full integrated enrollment. Features include:
Full enrollment form integration with Aetna, Cigna, Anthem, Fallon and IBX will be available to start, with MOO, Humana, and Aflac planned to release before AEP. Thirteen additional carrier enrollments are available via external links, with many more on the way!
Get alerts when an applicant is unlikely to pass underwriting using our Medicare Supplement needs assessment which captures drug and medical condition data.
Quickly move from Medicare Supplement to MA/MAPD quoting and enrollment if underwriting logic suggests that Medicare Supplement may not be the best path. All client data is preserved between products.
Post-enrollment bundling experience creates significant efficiencies by passing captured drug and demographic data into DVH and PDP applications (displayed post sale).
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Tags: dental hearing and vision insurance, Medicare Advantage, Medicare Supplement, SunFireMatrix
3 Tips for Success in Insurance
Posted by www.psmbrokerage.com Admin on Wed, Apr 03, 2024 @ 10:08 AM
Foster Relationships: Success in the insurance business often hinges on the strength and depth of your relationships. This includes not only your relationships with customers or clients but also with mentors, partners, carriers, and even competitors. Building a strong network based on trust, mutual respect, and value exchange can open doors to new opportunities, provide support in challenging times, and offer insights from different perspectives. Regular communication, active listening, and a genuine interest in others' success are key strategies for nurturing these relationships. Adaptability and Continuous Learning: The insurance business landscape is ever-changing, influenced by technological advancements, market trends, and consumer behaviors. Staying successful requires a willingness to adapt and evolve. This means being open to new ideas, embracing innovation, and being ready to pivot your strategy when necessary. Continuous learning, through formal education, self-study, or experiential learning, is vital. It keeps you informed about industry trends, helps you stay ahead of the competition, and fosters a culture of innovation within your organization. Strategic Planning and Execution: Having a clear, actionable business plan with specific, measurable goals is fundamental to success. A well-thought-out strategy helps guide your decisions and outlines the steps needed to achieve your objectives. However, a plan is only as good as its execution. Effective execution requires focus, discipline, and the ability to manage resources efficiently. Regularly review your progress towards your goals, be prepared to make adjustments as needed, and always keep the big picture in mind. Remember, success is not just about the ideas you have but about how well you can bring them to life.
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Tags: Success Tips
Cigna: Announcing a Flexible Choice Dental, Vision & Hearing Sales Incentive Trip
Posted by www.psmbrokerage.com Admin on Tue, Apr 02, 2024 @ 01:25 PM
Cigna is excited to announce the start of the qualification period for a Cigna Healthcare Supplemental Benefits Flexible Choice Dental, Vision & Hearing (DVH) Sales Incentives Trip, sponsored by Careington International Corporation! The Details
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Tags: Cigna, dental, Incentives
CMS Finalizes Payment Updates for 2025 Medicare Advantage and Medicare Part D Programs
Posted by www.psmbrokerage.com Admin on Mon, Apr 01, 2024 @ 04:57 PM
The Centers for Medicare & Medicaid Services (CMS) finalized the Calendar Year (CY) 2025 Rate Announcement for the Medicare Advantage (MA) and Medicare Part D Prescription Drug (Part D) Programs that updates payment policies for these programs and ensures payment accuracy. The Rate Announcement complements policies in the CY 2025 MA and Part D proposed rule that would strengthen protections for the millions of people who rely on MA and Medicare Part D prescription drug coverage, which will be finalized in the coming days. Under this CY 2025 Rate Announcement, payments from the government to MA plans are expected to increase on average by 3.70 percent, or over $16 billion, from 2024 to 2025. The federal government is projected to pay between $500 and $600 billion in Medicare Advantage payments to private health plans in 2025.
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Tags: Medicare Advantage, CMS
LifeShield agents! $100 per approved and issued Med Supp App
Posted by www.psmbrokerage.com Admin on Mon, Apr 01, 2024 @ 09:18 AM
At LifeShield, they are constantly striving to empower agents to reach new heights of success. They understand the value you bring to their organization, and they are dedicated to providing you with the tools and support you need to thrive. Give clients the freedom to choose. With this bundled solution from LifeShield, producers and clients can enjoy a unique and exclusive Medicare Supplement and Dental, Vision, and Hearing (DVH) combo sale opportunity with more benefits and more freedom – meeting clients' financial and coverage needs. Become a LifeShield agent today and start providing your clients with unbeatable coverage at an affordable price. About LifeShieldLifeShield National Insurance Company was founded in 1982. It has been operating in the insurance industry for several decades, providing coverage to individuals and families.The company is headquartered in Baton Rouge, Louisiana, USA. Its central location allows it to serve customers across the United States. LifeShield emphasizes a customer-centric approach, aiming to provide policyholders with reliable coverage and personalized service. The company's goal is to meet the unique healthcare needs of its customers and offer peace of mind regarding healthcare expenses.
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Bankers Fidelity is pleased to announce the launch of Atlantic Capital Life Assurance Company™
Posted by www.psmbrokerage.com Admin on Mon, Apr 01, 2024 @ 09:10 AM
New Medicare Supplement Charter in
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A new 7% Household Discount Rider is available for qualified individuals. For information on our new Roommate definition for Household Discount eligibility, login to our Agent Portal. All applications, forms and brochures are available for download and online ordering in ADDS®. The eApp is also available for this product to help you get a quote and submit an application quickly and easily. |
Not appointed to sell with Bankers Fidelity? Request more details and contracting here. |
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