Plan Advisors

Helping you choose the right health plan

Do you have a Medicare Beneficiary with Plans to Relocate?

Medicare lead generation

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Assist your Client with Finding a Trusted, Local Medicare Resource

Do you have a Medicare beneficiary client with plans to relocate? Every day, thousands of seniors are uprooting to new cities and states for better weather, family connection, or more accommodating living conditions. Nonetheless, there are big changes ahead for them! In addition to moving their belongings, getting settled in a home, and finding new doctors, your client will most likely need to switch to a new Medicare plan. The process of changing Medicare plans can seem overwhelming for some. However, as a trusted resource in the life of your client, there are ways you can help to ease the stress and unknown obstacles that may arise.

Here at Plan Advisors, we believe there is value in beneficiaries meeting with local insurance professionals who are familiar with the benefits and provider networks utilized by the various Medicare plans available.

That’s why we have the Plan Advisors Broker Referral Program. You can be sure your client is comfortably guided through the decision-making process by a knowledgeable licensed producer. You get peace of mind while your client receives proper service and care.

Help your Client Understand How Moving Affects their Medicare Coverage

Your client has the potential to be affected by their move in various ways depending upon their current plan. 

Medigap Policy Owners: If your client is on Original Medicare and has a Medicare supplement, they will be able to easily take the plan with them to another part of the country. However, pricing of Medicare supplements varies by location. Therefore, the client may be required to pay a higher premium than they may have grown accustomed to. The client can shop for a more cost-effective policy, but they could be subject to medical underwriting.

Prescription Drug Plan Owners: Medicare Part D plans vary by state. This means that an out-of-state move will require your client to shop for a new prescription drug plan.

Medicare Advantage Plan: While some Medicare Advantage plans offer regional coverage, it is likely that your client will need to find a new plan after their move. Medicare Advantage plans may vary from one service area to the next with differing benefits, premiums, and carrier contract codes. Your client could also choose to return to Original Medicare and shop for a supplement. Again, if they choose to do so, they would be subject to medical underwriting.

Special Election Period Awareness 

Medicare has established a Special Election Period (SEP MOV) for beneficiaries who are moving outside of the service area that their current Medicare plan covers. While it is possible for your client to select a new plan the month prior to their anticipated move, many seniors are more comfortable meeting with a local agent that knows the market in their new area. Assuming the client waits until after the move, they will have the month in which they completed their move, plus two additional months to switch plans. This is provided they do not notify their carrier prior to the move. Doing so will accelerate the un-enrollment process to the first of the next month and should be avoided until a transition plan strategy is in place.

Curious as to where everyone is heading? Here are the top 10 states seniors are moving to:

  1. Florida
  2. Virginia
  3. Colorado
  4. Delaware
  5. Minnesota
  6. North Dakota
  7. Montana
  8. Utah
  9. Arizona // New Hampshire

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[Read more…] about Bishop Marketing and Practice Health Partnerships team up in NYC

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book of business, client protection, Medicare income stream

 

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?

important reasons to protect your Medicare business

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.