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Medicare's Annual Election Period (AEP) brings plenty of questions. Which carriers should you offer? Which plans are changing? Are you ready to sell? How can you fit more appointments into an already packed schedule?
The more time you spend searching for answers, the less time you have to help clients. So, time is of the essence.
Senior Market Sales® (SMS) helps Medicare solutions agents get the answers they need quickly by providing access to the carrier information, technology, training and support they need to navigate AEP with confidence. SMS even offers 12 Agent Tools and Resources to prepare for AEP success — including a complimentary AEP Readiness Guide and Medicare Disruption Action Plan to help prep agents for this busy time of year.
Here are some of the questions Medicare agents are asking and where to turn for answers.
Which Medicare Carriers Pay the Most?
It's a common question, but compensation shouldn't be the only factor driving your carrier strategy.
Look at the complete opportunity, including:
- Plan competitiveness in your market
- Provider networks
- Benefits and costs
- Client needs
- Compensation and renewal opportunities
SMS works with leading Medicare solutions carriers and can help you understand your options, compare opportunities and build a portfolio that makes sense for your clients and your business.
Not sure where the opportunities are? Talk with an SMS marketing consultant about your carrier portfolio and market.
Which Medicare Plans Are Changing or Leaving My Market?
Carrier exits, plan terminations and benefit changes can have a major impact on your book of business. Knowing what's changing allows you to identify affected clients early and prioritize the conversations that may require the most attention.
Start by reviewing carrier communications, plan information and each client's Annual Notice of Change (ANOC) letter. Then use SMS resources to stay current on important carrier developments and deadlines throughout AEP.
Contracted SMS agents can also use AEP Central in MySMS for important carrier deadlines, rollout information, training and other AEP resources in one place.
What Should I Do When a Client's Medicare Plan Changes?
Start with a review, not a replacement. A plan change doesn't automatically mean your client should switch coverage. Review what's changing and compare it with what matters to that individual client.
Consider:
- Premiums and out-of-pocket costs
- Prescription drug coverage
- Provider and pharmacy networks
- Plan benefits
- Changes in the client's needs
If another option may be a better fit, you can then review available plans with the client. This annual review is also an opportunity to reinforce your value. You're not simply selling a plan. You're helping clients understand how changes could affect their coverage.
Am I Contracted and Ready to Sell With the Carriers I Need?
Don't wait until you're ready to submit an application to find out. Before selling a carrier's products, make sure you've completed all applicable contracting, certification and ready-to-sell requirements.
Check:
- Carrier appointments
- Annual certifications
- Ready-to-sell status
- State licenses and appointments
- Carrier portal access
- Products available in your markets
If you're unsure about your status, contact the SMS contracting team or an SMS marketing consultant at 1.888.747.3810. They can help you determine what still needs to be completed.
How Can I Write More Medicare Solutions Business During AEP?
Working more hours isn't the only way to increase production. Look for ways to spend more of your day talking with clients and less of it completing administrative work.
Lead Advantage Pro®, an SMS-exclusive Medicare enrollment tool, can help agents manage leads, quote Medicare plans, enroll clients, record applicable calls and manage important client information from one platform.
You can also look beyond the initial Medicare sale. Ancillary products may help address coverage gaps while creating additional revenue opportunities for your business.
SMS provides training resources to help agents identify those opportunities and have more productive client conversations.
Which Carriers Should I Add to My Portfolio?
More carrier contracts don't necessarily mean more opportunity. Your portfolio should reflect the markets and clients you serve. Look for gaps based on plan availability, provider access, benefits and other factors that matter to your clients.
An SMS Med Solutions marketing consultant can help you evaluate your current carrier mix, identify opportunities to strengthen your portfolio and help initiate the contracting process. Remember, it isn’t how many carriers you have, but rather your ability to offer the right options for the right clients at the right time.
How Do I Keep up With Everything Changing During AEP?
You shouldn't have to search through dozens of emails and carrier portals every time you need an answer. That's why SMS created AEP Central, an exclusive resource for contracted SMS agents.
AEP Central brings important resources together in one place to help you quickly find information, keep up with deadlines and stay focused on your clients. AEP Central is conveniently accessed through your secure MySMS account.
Already have MySMS access? Log in and make AEP Central part of your daily AEP routine.
Don't have access? Connect with SMS to learn more about working with us and the resources available to SMS-contracted agents.
Where Can I Get Help With Difficult Medicare Questions?
Sometimes you need more than just another online search result. Whether you have a carrier question, contracting issue, technology problem or complicated case, having experienced people in your court can save valuable time during AEP.
When you partner with SMS, you gain access to a dedicated team that includes a Med Solutions marketing consultant and members of contracting, new business, commissions, operations and other pertinent areas. You even gain access to SMS-exclusive tools and resources designed to maximize your AEP success.
When you have a question, start with SMS. We can help find the right resource or connect you with the right team.
Make SMS Your AEP Resource
AEP is demanding enough. Finding answers shouldn't make it harder.
From carrier information and contracting to technology, training and sales support, SMS gives Medicare solutions agents the resources they need to help them work more efficiently, serve clients and grow their businesses.
SMS Has Your Answers
Connect with an SMS marketing consultant for knowledge, resources and support during AEP and beyond. Reach out today at 1.888.747.3810.
If you found this article helpful, you may also appreciate this blog that highlights two no-cost Medicare enrollment and quoting solutions, and one leads platform designed to help fill your appointment book with quality leads.
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