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The Inflation Reduction Act of 2022 was signed into law on August 16, 2022. The new law provides meaningful financial relief for millions of people with Medicare by improving access to affordable treatments and strengthening the Medicare Program both now and in the long run. The law makes improvements to Medicare by expanding benefits, lowering drug costs, keeping prescription drug premiums stable, and improving the strength of the Medicare program. The law also extends enhanced financial help to purchase HealthCare.gov and state-based Marketplace plans and expands access to Advisory Committee on Immunization Practices (ACIP) recommended vaccines for adults with Medicaid coverage.

This law means millions of Americans across all 50 states, U.S. territories, and the District of Columbia will save money from meaningful benefits. The Inflation Reduction Act is accomplishing the following just one year after being enacted:

• Saving Affordable Care Act Marketplace consumers an average of more than $800 per year from continued expansion of financial assistance, based on national estimates.
• Driving the nation’s uninsured rate to historic lows.
• Lowering insulin costs for 4 million seniors and other Medicare beneficiaries with diabetes by capping a month’s supply of each covered insulin at $35.
• Providing ACIP-recommended adult vaccines at no cost to millions of people with Medicare.
• Lowering out-of-pocket costs for some people with Medicare for certain Part B drugs and biologicals with prices that have increased faster than the rate of inflation.
• Projecting savings for nearly 19 million seniors of an average of $400 per year when the $2,000 cap on out-of-pocket prescription drug costs goes into effect in 2025.

Your client's new option for help covering Medicare Advantage plan copays

AdvantageGuard offers broad, customizable solutions for clients seeking easy and reliable hospital indemnity coverage. With guaranteed issue coverage options for seniors aged 60-74¹ and a focus on flexibility and affordability, AdvantageGuard makes it easy to find the help they may need with unexpected costs.

Clients can choose the benefits that best fit their needs and budget, all backed by a insurer with an "A+" AM Best rating². AdvantageGuard offers convenient cash benefits paid to the insured, making it a smart choice for clients who want help with covering out-of-pocket expenses, like their Medicare Advantage plan copays.

If you would like to get contracted to sell AdvantageGuard or other Golden Rule Insurance Company products, click here to get started.

Precision Senior Marketing is an independent broker agency offering plans underwritten by Golden Rule Insurance Company and other insurers.

 
1Guaranteed Issue cases must be equal to or less than the GI max allowable base and rider benefit selections. Applications submitted where one or more base or rider benefits exceeds the allowable GI max will be subject to Simplified underwriting.

212-month Commission Advance is only available through YourFMO.com, LLC. contract

3Payable per day (limits apply) when Insured Person receives a prescription delivered by injection in an outpatient provider setting.

4Ratings as of 12/09/2022. This worldwide, independent organization reviews insurance companies and other businesses and publishes opinions about them. This rating is an indication of financial strength and stability. For the latest rating, access www.ambest.com.

49985-G-0723

Agents Only. Not Intended For Consumer Use.

The goal of a retail program is to reach and engage potential Medicare beneficiaries in person, allowing them to learn about Medicare Advantage plans, ask questions, and enroll in a plan on the spot.

Retail programs can be particularly effective in areas with a significant senior population and in locations where there is a higher demand for face-to-face interactions.

Why Participate?

YEAR-ROUND LEADS! Opportunity to work together in building a “Prospect Pipeline” to increase sales year-round.

Shopper Traffic - Access to high-traffic retail locations that can drive leads and sales.

Low Cost - Cost-efficient retail bundles that are competitively priced.

Competitive Program - Program requirements that are more relaxed.

Simple Tools - Use ThinkAgent to verify and track schedules and manage leads.

Helpful Training - Our training resources and tips help prepare and master retail.

If you think you would be a good candidate and would like to participate, please request details here, or give us a call at 800-998-7715.

Retail programs can be an effective marketing and sales channel for agents, complementing other methods such as direct mail, online advertising, and telephonic sales. The success of the program depends on the agent's ability to target the right locations and provide a positive and informative experience for potential beneficiaries.

Discover an unparalleled array of valuable resources tailored exclusively for insurance agents serving the senior market. At PSM, we are dedicated to equipping agents with the knowledge and tools they need to excel in this specialized field. From comprehensive educational materials on Medicare to interactive training sessions on sales strategies and compliance, our goal to empower agents with the latest industry insights.

Join our vibrant community and benefit from networking opportunities to foster professional growth. Experience the difference with PSM, where agents can elevate their expertise and better serve their senior clients.

Sample Guides:

The goal of a retail program is to reach and engage potential Medicare beneficiaries in person, allowing them to learn about Medicare Advantage plans, ask questions, and enroll in a plan on the spot.

Retail programs can be particularly effective in areas with a significant senior population and in locations where there is a higher demand for face-to-face interactions.

If you think you would be a good candidate and would like to participate, please request details here, or give us a call at 800-998-7715.

Retail programs can be an effective marketing and sales channel for agents, complementing other methods such as direct mail, online advertising, and telephonic sales. The success of the program depends on the agent's ability to target the right locations and provide a positive and informative experience for potential beneficiaries.

We're excited to share details about our 2024 AEP strategy!

Call us today for details: 800-998-7715

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

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.

Two leaders in the senior health market- Mutual of Omaha and Wellcare have formed a strategic alliance to offer jointly designed Medicare Advantage plans in select markets for the 2024 plan year.

As a customer-focused company, Mutual of Omaha is committed to offering a comprehensive suite of senior health products. Medicare Advantage plans offered with Wellcare are a meaningful addition to our portfolio of senior health solutions designed to meet customers' individual needs.

A trusted brand among seniors with 95% brand awareness, Mutual of Omaha is the nation's second-largest provider of Medicare Supplement plans. Our company remains committed to the Medicare Supplement market and plan to continue to grow in this space. Our senior health solutions portfolio also includes prescription drug (Part D), dental and vision coverages.

Wellcare and Mutual of Omaha will offer No Premium and Low Premium MAPD PPO cobranded plans in Georgia, Missouri, South Carolina, and Washington state as well as in Dallas/Fort Worth and Houston markets in Texas. The jointly marketed plans will be offered during this fall's Medicare Annual Enrollment Period (AEP) which begins Oct. 15 and runs through Dec. 7th.

The customer experience, including customer service, enrollment, and member communications, will be the Wellcare experience. All sales and brokerage operations will be handled by Wellcare. All 2024 contracted and certified Wellcare brokers will automatically have access to the co-branded plans with the same compensation model.

We are excited to offer this new opportunity to you and your clients. Be on the lookout for more information as we showcase the plans and the opportunities in each market.

Humana 2024 First Look is now available

This just in! The 2024 Humana first looks website just went live!

We're excited to share details about their 2024 AEP strategy!

Call us today for details: 800-998-7715.

Now appointed with Humana Medicare Advantage? Request details here.

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:

Insurance agents can have successful careers building a significant client base by selling Medicare Advantage (MA) coverage to beneficiaries. Agents wanting to expand their business beyond MA coverage and move their earnings to new levels can do that holistically with ancillary products. Along with the potential for increased revenue, agents cross-selling ancillary products could help their clients save money on health care expenses while setting themselves apart from the competition.

One cross-selling technique is packaging MA and ancillary products as a bundled approach. This minimizes the likelihood of clients seeking alternative coverage options,
which increases their long-term commitment to their agents and their carriers. The key isn't only knowing all available products and coverage benefits, but how they compliment MA coverage to best meet your client’s needs.

It’s important to remember that cross selling occurs when an opportunity to sell a Medicare plan is also utilized to sell a non health related product (such as life or home insurance or financial planning services). This activity is prohibited during individual appointments, marketing/sales events or when providing Medicare plan enrollment materials (such as the “Enrollment Guide”) to consumers.

Let’s breakdown the three most popular ancillary products.

HOSPITAL INDEMNITY PLANS

Hospital Indemnity (HI) plans provide Medicare beneficiaries with financial protection for medical expenses associated with daily hospital confinement, ambulance rides, diagnostic tests, lab work and prescription medications.

Agents can share with clients that the plans are designed to supplement other health insurance policies and can cover deductibles, copayments and other out-of-pocket costs. HI policies don't have network restrictions, meaning policyholders can choose providers that are both in and out-of-network. Networks become very important, especially when a person wants treatment at the best facility available after a diagnosis of a critical or complex disease, such as cancer, renal failure or heart disease. An added benefit: many HI plans come with riders, such as coverage for cancer costs, emergency room visits and outpatient services.

FINAL EXPENSE PLANS

Final Expense (FE) policies provide clients with a sense of security for their loved ones and protect them from unforeseen costs associated with medical bills and funeral costs. With the right guidance and product knowledge, agents can provide their customers
with quality coverage at affordable rates. Clients would be interested in knowing that
FE qualification thresholds are usually much lower than for other life insurance policies
regarding a policyholder’s health.

Agents can also stress that FE products go beyond burial costs and can include leaving financial gifts for clients’ family members that can go to settling debts.

DENTAL, VISION AND HEARING (DVH) PLANS

Dental, Vision and Hearing (DVH) coverage can increase a client’s financial protection
beyond what is available through traditional MA plans. Agents can let clients know that as they age, they are at a higher risk of needing DVH-related care. DVH plans offer additional access to coverage for these unexpected costs not covered by some Medicare plans.

TAKING ADVANTAGE OF THE ANCILLARY MARKETPLACE

The ancillary marketplace lets agents leverage their already-existing client base and build longer-term relationships with them through cross-selling opportunities. Once agents are comfortable with selling MA products, they can take the following steps to move into the ancillary marketplace:

• Learn about the available products and coverage benefits.
• Do the homework and uncover how ancillary products can complement clients’ current coverage.
• With recent changes in CMS guidelines, it’s important to understand their impact on cross-selling opportunities. Ensure you understand all government, state and local regulations.
• Contact your clients and holistically market these plans. Agents who want to grow their business beyond Medicare products would be well advised to consider the holistic nature of ancillary products. These plans can diversify their product portfolios and maximize their earnings while providing their clients with added protections from unanticipated medical costs.
  
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“Cross-selling occurs when an opportunity to sell a Medicare plan is also utilized to sell a non-health related product (such as life or home insurance or financial planning services). This activity is prohibited by CMS during individual appointments, marketing/sales events or when providing Medicare plan enrollment materials to consumers. Review the current Medicare Advantage Marketing Regulations and make sure you’re complying with Medicare’s rules regarding cross-selling.”

*For Agent use only. Not affiliated with the U. S. government or federal Medicare program.

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