What are the New CMS Requirements?
CMS considers a “marketing” call anything that falls under the “Chain of Enrollment,” which is defined as any events from the point when a beneficiary is made aware of an MA/PDP plan to the end of the enrollment process.
Some examples of what the new recording rules cover include:
Disclaimer All agents will also be required to include the following disclaimer: “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 The disclaimer must be included in the following places:
Additionally, the following requirements must be included in all call recordings and appointment forms:
CMS has stated that there is no obligation to re-enroll current Medicare participants and their enrollment status will not be affected. Automatic enrollment will also not occur. That said, a new Scope of Appointment (SOA) is required if the beneficiary requests information about a plan not previously discussed. NOTE: CMS has not laid out a compliance verification or auditing plan for the Final Rule 2023 changes. How to Achieve Compliance Ensuring agents can meet these new CMS requirements by October 1, 2022, comes down to two primary factors: technology and training.
PSM and YourMedicare have launched the 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.
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Medicare Blog | Medicare News | Medicare Information
PSM Guide: Understanding the New CMS Call Recording Changes
Posted by www.psmbrokerage.com Admin on Wed, Nov 02, 2022 @ 05:05 PM
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Tags: closing sales, Success Tips, CMS, sales advice, Sales Strategies, Compliance
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
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Tags: closing sales, Success Tips, sales advice, Sales Strategies
How to Improve Your Sales Skills
Posted by www.psmbrokerage.com Admin on Thu, Sep 29, 2022 @ 03:49 PM
The skills you need to improve your sales include:
Before we look at each of the primary skills that make great salespeople, it's important to recognize that selling is a craft. The only way you can improve your results is through practice, and studying what works, what doesn't, and when and how to use certain strategies, tactics, and conversations. When working to improve in any endeavor, it’s necessary to develop skills that support the outcomes you need. Selling is a series of conversations. The greater your skills, the better these conversations will be, and the more they help the client improve their outcomes. You have to practice these skills to learn them. Gaining CommitmentsThe first outcome a salesperson needs to create is a first meeting, so the first skill of a great salesperson is the ability to obtain a commitment from a prospective client. Every step forward requires you to gain another commitment from your contacts. In the Lost Art of Closing: Winning the 10 Commitments That Drive Sales, you will find 10 different commitments that allow you to facilitate the client's buyer's journey. This starts with the commitment for time, exploring change, committing to change, collaborating, building consensus, investments, reviewing solutions, resolving concerns, deciding, and executing. In this book, you will find the Trading Value Rule, which helps your clients commit to the next step. You can improve your sales skills by practicing and improving your ability to gain commitments. Scheduling a First MeetingThe goal of prospecting is creating a first meeting, which requires picking up the phone and calling a stranger. Those who do well at booking meetings are not conflict averse and don't worry much about the occasional grouchy person hanging up on them. They have the thick skin that prevents them from believing they were personally rejected. Salespeople who are skilled at scheduling a first meeting trade value for the client's time. When a contact refuses the meeting, the salesperson gently restates the value the client will receive by taking the meeting. They are also skilled at addressing the client's concern that a meeting will be a waste of time. Improving this skill means making many hundreds of calls and becoming immune to any negative outcomes. By practicing each day, you'll improve your sales results. Creating Value in the Sales ConversationThis is a higher hurdle to clear. It's also the most important skill when you are sitting across the table from your contacts. To enable this skill, you must bring business acumen to a conversation with your clients. When we talk about creating value, your primary goal is to educate your clients on a key aspect of their business. While your ultimate goal is helping the client make the best decision for their business, you achieve this through a series of business conversations. This sales skill is the one to rule them all. If you are unable to create value for your clients in a sales conversation, improving your outcomes is close to impossible. This higher-level skill requires that you study the modern sales approach and possess the insights that your contacts find valuable. This skill is one you must practice every day, in every sales call. It is more difficult to acquire, but by studying, you can improve faster. Diagnosing Client ScenariosYour client has problems and challenges. What once worked for them now fails. They are uncertain about what to do or who to work with to turn things around. The person who can explain why the client has the problems that harm their results will grab their attention. Following that explanation, a highly skilled salesperson will diagnose the root cause of the problem and what the client will need to do to improve their results. Having practiced this for years, you will find that, at some point, you can immediately recognize the pattern that allows you to assess the scenario in a blink of an eye. The education you develop over hundreds of meetings with your clients adds up, making you a sort of expert in the different client scenarios you encounter over time. Modern StorytellingThere are a lot of people who believe the stories salespeople tell should be about their company and all the ways they have helped their clients. While these stories are sometimes helpful, modern storytelling is about the external environment and its impact on the client's business. It also tells a story about what works now, what doesn't, and why. These stories depend on business acumen and a perspective that helps clients learn and understand how to turn things around. One way to think about your stories is that you are making sense of your clients’ world and how to best address their challenges. These stories carry more weight than some of the legacy stories about your company and your solutions. NegotiatingIn many deals, improving your sales skills will require you to negotiate with your contacts, even the nice ones who must do right by their company and ask for a discount or concession. When you are new to sales, you might fear that pushing back will cause you to lose deals. By improving your skills over time, you will learn to ask for something valuable in exchange for whatever you give your new client. Like all the skills here, the only way to acquire them is to practice. Selling isn't something that you can learn from books alone. Reading can help you get started, but you need to practice to improve your skills. ![]() |
Tags: sales advice, Sales Strategies, sales ideas
Join us in Denver! Road to 8% Nation Tour
Posted by www.psmbrokerage.com Admin on Tue, May 10, 2022 @ 12:58 PM
10 Cities. 9 Months. 8% Roadshow.How do successful people think? From the professional to the personal realm, hear how you can better overcome challenges and develop a winning mindset. A destination without a path is unreachable. Learn what leaders from your industry and others did to pave their way to your dream lifestyle.
![]() NetworkingHave you ever heard the term, “It’s not what you know, it’s who you know?”One of the greatest things about the 8% Nation conference is the attendees themselves. Friendships, partnerships, and mentorships have all happened from agents just like yourself who happened to bump into the right person in the audience. By connecting with the person to your left or your right (or both) at our conference, you can hold each other accountable to your new goals, challenge yourselves to do more every day, and help each other to keep a growth mindset. It’s important to keep successful people around you if you want to achieve your goals and the people who attend 8% Nation are the ones who are committed to doing something big with their lives. ![]() |
Tags: Success Tips, Professional Networking, sales advice, Entrepreneurship, Insurance Marketing, Leadership
Join us this March in Cincinnati! Road to 8% Nation Tour
Posted by www.psmbrokerage.com Admin on Thu, Mar 03, 2022 @ 09:10 AM
10 Cities. 9 Months. 8% Roadshow.How do successful people think? From the professional to the personal realm, hear how you can better overcome challenges and develop a winning mindset. A destination without a path is unreachable. Learn what leaders from your industry and others did to pave their way to your dream lifestyle.
![]() NETWORKINGHave you ever heard the term, “It’s not what you know, it’s who you know?”One of the greatest things about the 8% Nation conference is the attendees themselves. Friendships, partnerships, and mentorships have all happened from agents just like yourself who happened to bump into the right person in the audience. By connecting with the person to your left or your right (or both) at our conference, you can hold each other accountable to your new goals, challenge yourselves to do more every day, and help each other to keep a growth mindset. It’s important to keep successful people around you if you want to achieve your goals and the people who attend 8% Nation are the ones who are committed to doing something big with their lives. ![]() |
Tags: Success Tips, Professional Networking, sales advice, Entrepreneurship, Insurance Marketing, Leadership
Join us in Philly! Road to 8% Nation Tour
Posted by www.psmbrokerage.com Admin on Tue, Feb 01, 2022 @ 04:11 PM
10 Cities. 9 Months. 8% Roadshow.How do successful people think? From the professional to the personal realm, hear how you can better overcome challenges and develop a winning mindset. A destination without a path is unreachable. Learn what leaders from your industry and others did to pave their way to your dream lifestyle.
![]() NetworkingHave you ever heard the term, “It’s not what you know, it’s who you know?”One of the greatest things about the 8% Nation conference is the attendees themselves. Friendships, partnerships, and mentorships have all happened from agents just like yourself who happened to bump into the right person in the audience. By connecting with the person to your left or your right (or both) at our conference, you can hold each other accountable to your new goals, challenge yourselves to do more every day, and help each other to keep a growth mindset. It’s important to keep successful people around you if you want to achieve your goals and the people who attend 8% Nation are the ones who are committed to doing something big with their lives. ![]() |
Tags: Success Tips, Professional Networking, sales advice, Entrepreneurship, Insurance Marketing, Leadership
2. Identify and accommodate needs. Clients don't buy products or services. They buy solutions to problems for peace of mind. Remember many clients’ needs may be emotional rather than logical. The more we know about our clients, the better we become at accommodating their needs. Communicate regularly to be aware of problems or upcoming needs.
3. Make sure clients feel important and appreciated. Treat them as individuals and not as an age group. People value sincerity. It creates good feeling and trust. 4. Understanding Is crucial. Understanding their specific requests and needs should always be our goal. Make sure your clients purchase the healthcare plan they want to use, should the need arise.
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Tags: Success Tips, Professional Networking, sales advice, Entrepreneurship, Insurance Marketing, Leadership
8% Virtual 1-Day Event on Feb 18th
Posted by www.psmbrokerage.com Admin on Thu, Jan 27, 2022 @ 12:24 PM
Are you ready to breakthrough? At 8% Virtual, you will learn exactly what you need to know to take your business to a whole new level. This conference will have a massive focus on sharing the SALES & MARKETING secrets that you must know now! Do not miss this once in a lifetime event! Register today. View details here: https://8percentvirtual.com/ Use our $50 off coupon code – “TONY” for an additional savings ![]() |
Tags: Success Tips, Professional Networking, sales advice, Entrepreneurship, Insurance Marketing, Leadership
Join us in Charlotte! Road to 8% Nation Tour
Posted by www.psmbrokerage.com Admin on Mon, Jan 10, 2022 @ 10:15 AM
10 Cities. 9 Months. 8% Roadshow.How do successful people think? From the professional to the personal realm, hear how you can better overcome challenges and develop a winning mindset. A destination without a path is unreachable. Learn what leaders from your industry and others did to pave their way to your dream lifestyle.
![]() NETWORKINGHave you ever heard the term, “It’s not what you know, it’s who you know?”One of the greatest things about the 8% Nation conference is the attendees themselves. Friendships, partnerships, and mentorships have all happened from agents just like yourself who happened to bump into the right person in the audience. By connecting with the person to your left or your right (or both) at our conference, you can hold each other accountable to your new goals, challenge yourselves to do more every day, and help each other to keep a growth mindset. It’s important to keep successful people around you if you want to achieve your goals and the people who attend 8% Nation are the ones who are committed to doing something big with their lives. ![]() |
Tags: Success Tips, Professional Networking, sales advice, Entrepreneurship, Insurance Marketing, Leadership