- Part 1: Enrollment Period Terminology
Do you recognize and understand the differences among the following terms? Initial Coverage Enrollment Period, Special Election Period, Annual Enrollment Period, Open Enrollment and Lock-in? These terms all refer to eligibility periods for Medicare beneficiaries to enroll in a Medicare Advantage plan. If these concepts are foreign or you are not well-versed in their differences, the market may be passing you by while clients get their education and information through other sources.
- Part 2: Medicare Advantage and Med Supp Head-to-Head
Should Medicare Advantage plans be considered competition for the traditional Medicare Supplement producer or an opportunity? At Senior Market Sales, we view Medicare Advantage as an alternative to Medicare Supplement and an opportunity.
- Part 3: Something for Nothing?
You may have wondered how a Medicare Advantage insurer can charge $0 premium for a plan and make money. Intuitively, something for nothing creates doubt in the mind of an agent and consumer.
- Part 4: My client wants her old Medicare Supplement back. Now what do I do?
You have a client who enrolled for the first time in a Medicare Advantage plan with prescription drug coverage and after a few months, she calls you and wants to switch back to Original Medicare and her Medicare Supplement. “No Problem,” you say, since you know she is entitled to make a change within the first 12 months. You make a call to the Medicare Advantage carrier and you run into a roadblock. You hear “She must wait until the next open enrollment period.” Now what do you do?
- Part 5: Medicare Advantage . . .It's not going away
Just a few years ago, the Medicare Advantage market was limited to only a few carriers in limited geographical areas, mostly metropolitan areas. Now, MA plans are available in nearly every U.S. county. Why the change?
- Part 6: Group Medicare Advantage Saves Employers 30-40% on Retiree Health Costs
Did you know that more than 10 million seniors have retiree health coverage from their former employer or union? That’s roughly 25% of all Medicare-eligible seniors!
- Part 7: Why Your Clients Really Buy Medicare Advantage
What is the key advantage of MA that you should be talking about with your clients and prospects? Is it ancillary benefits, such as vision, dental or gym memberships? Low or $0 premiums? Maximum out of pocket (MOOP) limits? Part D prescription drug coverage?
- Part 8: Help Your Clients Get Discounts on Drugs Not Approved for Part D
They remain available for drugs not approved by CMS for the Prescription Drug Program.
- Contact Dwane
Article written by
Dwane McFerrin, CFLU
Dwane McFerrin, CLU, CFP, RHU, CLTC and SMS director joined SMS after 23 years in the life and health insurance industry in executive-level positions. Dwane owned a marketing consulting firm and has a strong background in the senior market, sales management, association and worksite marketing, client development and lead generation. Dwane holds an M.S. Degree in Industrial/Organizational Psychology from the University of Nebraska at Omaha, a B.A. from Central College of Iowa and LIMRA's Leadership Institute Fellow designation.
