Do you have clients whose Medicare Advantage Plans did not renew for 2013 and have yet to elect a new plan? They can still pick a new plan, and you can help them do it. Here are a few things to know in order to make sure your client has a smooth transition to their new Medicare Advantage Plan:
MAPD and PDP membership
While none of us want to see our clients leaving their Medicare Advantage Plans, we all want to make sure we are providing our clients with the service they deserve. Sometimes, this means guiding them out of plans they are not so comfortable with and into ones more fitting for their needs.
During the Annual Enrollment Period, it’s easy to get caught up in growing your book of business and increasing that residual income stream. Make sure that your pursuit of new business does not cost you what you’ve already found.
If it’s been too long since you’ve reached out to that client you wrote on a Medicare Advantage Plan three years ago, you may want to consider giving them a call. Ask them if they have taken a look at the 2013 benefits for their current plan. Ask them if they’d like you to review it with them. Is there a new plan in their coverage area that will better fit their needs? Are they even interested in looking?
Whatever the answer, remember that by reaching out you are accomplishing some important things:
1) You are letting your client know that you’re still in the business of helping and guiding them.
2) You are protecting your book of business.
3) You are protecting your residual income stream.
This process may seem obvious to the veteran agent. But even the most seasoned insurance salesperson can get a little comfortable and start to take their loyal book of business for granted. When you’re thinking about how to fill your time leading up to (and during) AEP, remember that those clients you helped three and four years ago still have eyes and ears. They still have mailing addresses that are being bombarded with offers from other plans and agencies. They still have TV sets advertising the latest and greatest in Medicare coverage options. A simple phone call or 15 minute appointment could ensure that your client remains your client.
As you know, selecting the correct election period for your client when facilitating an MAPD enrollment is an important step toward ensuring the beneficiary’s enrollment form is processed for their proposed effective date. For 2013, there is a change in guidance of when to use IEP vs. ICEP. Let’s take a closer look…
I had an agent tell me recently that “United was more generous than Humana because they offered unlimited renewals.” Currently, Humana offers a six-year tail on MAPD and PDP enrollments, which begins with either the “initial” or “replacement sale,” as CMS defines it.