Plan Advisors

Helping you choose the right health plan

Why Medicare Agents Should Sell ACA Plans

Affordable Care Act

by

As a Medicare agent, you have a vast amount of knowledge at your disposal. However, one thing that knowledge can’t do is change the rules of Medicare and magically provide you with more business from those who are under 65. So how can you continue to grow your business outside the boundaries of your Medicare sales?

Well, let us answer your question with another question: Have you ever considered selling ACA plans?

1.  Commissions

In the past, Affordable Care Act (ACA) commissions were a complicated topic. Many carriers were actively lowering the amounts agents could make from selling ACA plans. However, this is no longer the case. ACA plan commissions can provide a substantial income because agents typically get money for each member for each month. This can create a healthy income stream if you’re insuring households with multiple members on top of your usual Medicare sales. 

In addition, the ACA Open Enrollment Period (OEP) overlaps with Medicare’s Annual Enrollment Period (AEP). If that sounds like too much multitasking to you, don’t worry! OEP continues over a month after AEP has ended, allowing you to move from one to the other seamlessly. This can be helpful for some agents who can extend their busy season by one more month and, as a result, increase their sales. 

2.  Larger Client Pool

As a Medicare agent, you’ve probably worked with a client who had family members under 65. This can sometimes feel like a missed opportunity because you’ve worked closely with your client and have grown a positive relationship that would lead to a shared trust among the entire family. However, being a licensed ACA agent allows you to sell to family members who aren’t yet 65. This can have a massive impact on your book of business if, for every one client you’re serving, another is being added. 

In 2021, the eligibility qualifications were lowered, allowing more people to get ACA plans. These premiums will be available through 2025, giving you plenty of time to get your foot in the door. The ARPA also created a special enrollment period that allows some low-income individuals to add marketplace plans outside of the open enrollment period.

3. Free Certification

You may be worried about having to pay another certification fee on top of your Medicare certifications. Don’t worry! Federally Facilitated Marketplace (FFM) Certification is free! The Centers for Medicare and Medicaid Services (CMS) are the ones who facilitate this free certification that puts you on the path to selling ACA plans. Click here for more information on obtaining your FFM certification! 

4. From ACA to Medicare

Massive numbers of people will be aging into Medicare over the next decade. Selling ACA can give you a significant head start on growing relationships with potential clients. You may sell an ACA plan to a client who, three years later, turns 65 and purchases a Medicare plan from you. This is one of the biggest reasons to add ACA into your arsenal as an agent.

Plan Advisors is here to provide all the support you need for your Medicare and ACA endeavors. We can show you the perfect plans that fit your existing portfolio. With the ability to sell two types of plans, you’ll see your book of business grow as your busy season extends.

So don’t wait! Reach out to us today and we’ll help you get on the right track towards selling ACA plans!

by

Here at Plan Advisors, we understand that health insurance is expensive, and unfortunately, it has become thought of as a “luxury” that individuals and families determine that they must forgo. We want to emphasize that it doesn’t have to be that way. There’s a real opportunity for you to provide coverage for individuals who fall into this category.

As a health insurance broker, you play a crucial role in educating your clients about healthcare benefits. You get to be the expert on what coverages work best for your client’s specific situation. You help them understand what insurance products are available. 

Whether you’ve been a health insurance agent for years or you’re new to insurance altogether, representing ACA insurance gives you the opportunity to help more people understand their health coverage options.

When you align with Plan Advisors to offer ACA services, you not only offer your clients more, but you will also do more for your business growth. 

Offering your Clients More with ACA

The Affordable Care Act exists to make healthcare accessible for individuals and families. 

In the past, plan options were limited, but ACA has become even more accessible as new carriers continue to enter the health insurance marketplace and expand into new areas.

As an independent agent, you can represent plans from the nation’s top carriers for your community, including United Healthcare, Aetna, Bright Healthcare, Oscar, Molina, and more.

If you’re already selling ACA plans, make sure you’re representing all the carriers available in your region by exploring this map.

On the contrary, if you are new to ACA, get started by getting contracted to sell ACA.

The Benefits are Mutual

When you help your clients find lower costs for the coverage they need, you’ll find that the benefits are mutual. 

This year, more individuals qualify for subsidies that help lower their health insurance costs.

If your client has qualified for tax credits to lower their monthly premiums, they have access to lower costs on their Marketplace insurance plan. The added bonus is that when you sell them the plan, you receive full commission benefits on the original, undiscounted price of the plan. Not only do you get full commissions, but broker commissions on ACA plans continue to increase each year.

The Horizon is Bright with ACA

Opening up your offerings to serve ACA-eligible individuals means that you’ve widened your market for serving customers. 

In the United States, the uninsured population continues to rise. You can offer accessible and affordable coverage to non-elderly adults and working families. As a result, your target audience will reflect a whole new demographic of eligibility.

Are you Ready to Serve? 

Ready to take advantage of everything ACA has to offer for your business? Get aligned with Plan Advisors to represent ACA plans.

by

Health insurance is expensive, and unfortunately, it has often become thought of as a “luxury” that individuals and families decide to go without. But it doesn’t have to be that way. There’s a real opportunity for you to provide coverage for individuals who fall into this category.

As a health insurance broker, you play a crucial role in educating your clients about healthcare benefits. You’re the expert on what coverages work best for their specific situations. You help them understand what insurance products are available. 

Whether you’ve been a health insurance agent for years or you’re new to insurance altogether, representing ACA insurance gives you the opportunity to help more people understand their health coverage options.

When you align with Plan Advisors to offer ACA services during OEP 2022, you not only offer your clients more but you will also do more for your business growth. 

1. Offer Your Clients More With ACA

The Affordable Care Act exists to make healthcare accessible for individuals and families. 

In past years, plan options were limited, but this year ACA has become even more accessible as new carriers have entered the health insurance marketplace or expanded into new states.

As an independent agent, you can represent plans from the nation’s top carriers for your community, including United Healthcare, Aetna, Bright Healthcare, Oscar, Molina, and more.

If you’re already selling ACA plans, make sure you’re representing all the carriers available in your region by exploring this map.

Those who are new to ACA will need to start by getting contracted to sell ACA.

2. Commissions Are Coming Your Way

When you help your clients find lower costs for the coverage they need, you’ll find that the benefits are mutual. 

This year, more individuals qualify for subsidies that help lower their health insurance costs.

If your client has qualified for tax credits to lower their monthly premiums, they have access to lower costs on their Marketplace insurance plan. But when you sell them the plan, you receive full commission benefits on the original, undiscounted price of the plan. 

Not only do you get full commissions, but this year agents are getting more commissions! Broker commissions on ACA plans have increased from past years.

Selling ACA during OEP 2022 means more commissions per member per month.

3. The Horizon Is Bright With ACA

Opening up your offerings to serve ACA-eligible individuals means that you’ve widened your market for serving customers. 

In the United States, the uninsured population continues to rise. You can offer accessible and affordable coverage to non-elderly adults and working families. As a result, your target audience will reflect a whole new demographic of eligibility.

Let’s Us Help You Get Started With ACA

Ready to take advantage of everything ACA has to offer for your business? Get aligned with Plan Advisors to represent ACA plans.

by

On March 11, President Biden signed The American Rescue Plan into law. The plan increases eligibility for financial assistance to those purchasing health coverage through the Marketplace.

Here are the details:

  • After the advance payment of increased tax credits, plans purchased through Healthcare.gov will decrease by an average monthly cost of $50 per person and $85 per policy.
  • Four out of five enrollees will be able to find a plan for $10 or less per month after tax credits.
  • 50% of enrollees will be able to find a Silver plan for $10 or less per month.
  • One out of four enrollees on Heathcare.gov will be able to upgrade to a plan that offers lower out-of-pocket costs at the same or lower premium to what they’re currently paying.
  • 3.6 million uninsured people will be newly eligible for tax credits.
  • 1.8 million uninsured people with incomes below 150% of the Federal Poverty Line (FPL) will be eligible for a 100% premium subsidy for the benchmark Marketplace plan.

The U.S. Department of Health and Human Services created a fact sheet you can find by CLICKING HERE.

Due to the Special Election Period, people have until May 15 to select a Marketplace plan.

by

In response to the ongoing COVID-19 emergency, CMS has announced an SEP for Marketplace-eligible consumers. This ACA SEP will begin February 15 and continue through May 15. 

This SEP will be available to consumers in the 36 states served by Marketplaces that use the HealthCare.gov platform, and CMS will conduct outreach activities to encourage those who are eligible to enroll in health coverage. Additionally, CMS is encouraging states operating their own Marketplace platforms to make a similar enrollment opportunity available to consumers in their states.

Read the full memo here.

Have questions about how you can serve clients during this period? Email Matt, our Brokerage Business Consultant, at mholt@myplanadvisors.com.

Need to get contracted for ACA? We can help! Contracts are available for Bright Health, Molina, Oscar, and Ambetter.

by

What your clients are required to pay in the Medicare Part D coverage gapHelping your clients with Medicare Part D coverage understand the mechanics of the Medicare Part D coverage gap can be a daunting task.  We are going to cover a couple of the more difficult questions raised regarding the coverage gap in this segment.

[Read more…] about Your client is in the Medicare Part D Coverage Gap…Now What?