Medicare Advantage (MA) plans currently provide medical coverage for nearly 30.2 million beneficiaries, as of October 2022. While MA market penetration is strong, there is still ample opportunity for growth in this segment, with approximately 47% of the 64.7 million people eligible for Medicare enrolled in MA plans.
This brief presents a snapshot of the 2023 Medicare Advantage market with insights from the Centers for Medicare and Medicaid Services (CMS) Medicare Landscape reports.
Based on an aggregate analysis of CMS Landscape reports, a total of 5,764 distinct MA plan offerings are in the market lineup for the 2023 AEP. This includes Medicare Advantage plans without Part D coverage (MA w/no PD), Medicare Advantage with prescription drug plans (MAPDs), Medicare/Medicaid plans (MMPs – Demonstration plans), and Special Needs Plans (SNPs). During the AEP, Medicare beneficiaries can choose to change MA plans or switch from Original Medicare to MA, for plan benefits effective on January 1, 2023.
66% of 2023 MA plans (excluding SNPs) are available at the $0 plan premium level, and 19% of plans will be charging monthly premiums ranging from $2 to $50. Only 57 plans (1%) are charging monthly premiums greater than $200. These benefits-rich plans typically have low copays and as a result, estimated out-of-pocket expenses are often minimal. 2023 MA Plan Competition
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Medicare Blog | Medicare News | Medicare Information
www.psmbrokerage.com Admin
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Medicare Market Insights and Plan Competition for 2023
Posted by www.psmbrokerage.com Admin on Thu, Oct 27, 2022 @ 10:28 AM
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Tags: Medicare Advantage plans, CMS
CMS Monitoring Activities and Best Practices during the Annual Election Period
Posted by www.psmbrokerage.com Admin on Thu, Oct 20, 2022 @ 01:33 PM
The Centers for Medicare & Medicaid Services (CMS) issues this memorandum informing Medicare Advantage (MA) organizations and Part D sponsors of CMS monitoring activities and sharing plan and sponsor best practices during the 2023 Annual Election Period (AEP), running from October 15, 2022 to December 7, 2023.
Their secret shopping activities have discovered that some agents were not complying with current regulation and unduly pressuring beneficiaries, as well as failing to provide accurate or enough information to assist a beneficiary in making an informed enrollment decision. CMS reminds MA organizations and Part D sponsors that they are responsible for the marketing activities of the agents and brokers and other third-party entities with whom they contract.
CMS is taking the following immediate actions during the 2023 AEP, and into Contract Year 2023, including:
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Tags: closing sales, Success Tips, CMS, sales advice, Sales Strategies, Compliance
Spanish Leads and Calls are Now Available in LeadStar Marketplace
Posted by www.psmbrokerage.com Admin on Tue, Oct 18, 2022 @ 02:56 PM
We Now Have Spanish Leads & Calls! Did you know that there are over 2 million Medicare recipients in the United States who only communicate in Spanish? According to the Centers for Medicare and Medicaid Services, “Understanding and working to address communication and language needs of Medicare beneficiaries is a critical part of ensuring high quality care for this group.”1 LeadStar Marketplace creates a quick connection between Spanish-speaking beneficiaries, and Spanish-speaking agents that can help them. There’s a big opportunity for all of us to help make this the best AEP possible – both for the beneficiaries we work with, as well as the agents servicing this important group of customers. Get registered and set up your Spanish language campaigns today!
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Tags: Leads, LeadStar, Medicare leads
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Tags: closing sales, Success Tips, sales advice, Sales Strategies
Dually Eligible Individuals - Categories
Posted by www.psmbrokerage.com Admin on Tue, Oct 18, 2022 @ 10:54 AM
Check out this resource that summarizes the eligibility categories for dually eligible individuals, including the degree to which individuals in each category receive assistance with Medicare Parts A and B premiums and cost sharing. Each eligibility category is mutually exclusive.
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Tags: Medicare Advantage, Dual Eligibles
Humana Announces Major Expansion of Florida Dental Network, Benefits
Posted by www.psmbrokerage.com Admin on Tue, Oct 18, 2022 @ 10:33 AM
In addition, the health and well-being company’s 2023 Medicare Advantage plans for Floridians eligible for both Medicare and Medicaid will feature new benefits including extra financial assistance to help pay for living expenses. New for 2023 Beginning Jan. 1, Floridians enrolled in a 2023 Humana HMO or PPO Medicare Advantage plan will have access to the Florida GoldPlus Dental Network, which includes 8,100 dentists across the state, as well as a nationwide network, meaning they can seek in-network care in and outside of Florida. Coats said the company is also expanding coverage for dental procedures and offering more flexible ways to pay for them, including:
More Help for Floridians Eligible for Both Medicare and Medicaid
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Tags: Humana, Medicare Advantage
New YourMedicare SunFire Recording Capabilities are Live!
Posted by www.psmbrokerage.com Admin on Fri, Oct 14, 2022 @ 02:58 PM
The Centers for Medicare and Medicaid Services (CMS) put the industry in a minor panic when it announced that starting Oct. 1 agents must record all calls with Medicare beneficiaries and state a new disclaimer. Fret no more because YourMedicare SunFire has a solution, and you can use this new feature right now! On Sept. 20, YourMedicare launched its telephony system to agents nationwide. This new system gives agents the ability to make and receive calls through the YourMedicare SunFire platform. The system assigns agents a virtual phone number with a customizable area code, making the number more familiar for their clients. Wondering about a cost? We’ll cover that later. SIMPLE RECORDING SETUP If you’re already using YourMedicare for your quoting and enrollment needs, you’re a step ahead of the game. • From your dashboard, go to your profile Not a current user? Grab your National Producer Number and reach out to info@yourmedicare.com for login credentials. You do need to be licensed, appointed and fully certified with at least one Medicare Advantage carrier in order to get access. Once you’re able to login, follow the previous steps to get started. After the virtual phone number is created, select “Start dialer phone” at the top right of the dashboard. You’ll see the status change to available. The system records and stores every inbound and outbound call, saving them for the compliant ten years. MORE GOOD NEWS Let’s address the new disclaimer CMS requires agents to state during the first minute of each call. “We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.” Think you’ll need to memorize this or have it on a nearby Post-It note? Not the case with YourMedicare SunFire. Each call starts with a recording of the disclaimer, so there’s absolutely no need to worry about it! With all these features, you may be thinking to yourself “That’s a huge burden off my back, but how much does it cost?” It’s a simple answer: it’s absolutely FREE. It’s YourMedicare’s way to thank agents for their dedication and partnership!
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Tags: AEP, YourMedicare, Compliance
Marketing Masterminds: LeadStar Marketplace Training Session
Posted by www.psmbrokerage.com Admin on Thu, Oct 13, 2022 @ 04:31 PM
Tags: Leads, LeadStar, Medicare leads
Aflac Medicare Supplement Incentive!
Posted by www.psmbrokerage.com Admin on Wed, Oct 12, 2022 @ 04:13 PM
You can earn recognition and earn extra cash on your Aflac Med Supp business.
Aflac Medicare Supplement Insurance
While Medicare provides coverage for health-related expenses, it doesn't cover all costs — such as copayments, coinsurance and deductibles. Because consumers need a way to help manage expenses during retirement, Aflac introduced its Medicare Supplement Insurance policies to help fill some of these coverage gaps. With Aflac's Medicare Supplement plans A, F, G, and N, consumers will have the freedom to choose any provider that accepts Medicare at a convenient location that best meets their needs, without precertification or pre-authorization. Plan benefits remain the same year after year and are portable, so if policyholders move or travel, their coverage goes with them.
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LeadStar is Now Nationwide - Leads in all 50 States!
Posted by www.psmbrokerage.com Admin on Wed, Oct 12, 2022 @ 03:57 PM
It’s Time to Take The Lead. You can now set up campaigns to deliver:
On your schedule, using LeadStar Marketplace, IN ALL 50 STATES. Now is the time to set up your campaigns for AEP. Our most-successful agents are already setting appointments to get a head-start on the 15th. 8 out of 10 agents who use LeadStar Marketplace would recommended it to another agent. LeadStar Marketplace is your key to opening the door to the best AEP of your career. Don’t get left behind.
LeadStar Marketplace is a New, Self-Service Platform that allows agents to acquire new customers at scale. LeadStar Marketplace allows you to Purchase, Receive & Manage:
For Medicare & Final Expense with 100% guaranteed TCPA & CMS Compliance! Recording & storage of all in-bound & warm transfers is provided automatically, per new CMS MA & MAPD regulations – for NO EXTRA CHARGE!
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Tags: Leads, LeadStar, Medicare leads