Helping 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.
Patient Protection and Affordable Care Act
Well, I left Orb and Goldensoul off my Superfecta this Derby weekend, so I guess I won’t be retiring anytime soon! Got a chance to speak with a Humana sales leader in Colorado last Friday. We discussed the timing and best strategies for getting an MAPD certification for marketing Humana products, if you do not have one already. As an agent not yet certified for MAPD you should be asking yourself a couple questions: “Is there an opportunity to enroll any beneficiaries into an MAPD plan between now and July?” “Do I plan to represent any of the under 65 major medical products offered through exchanges in the fall?” If you answered yes to either of these questions, now is a good time to get registered for Humana’s MAPD certification training. Here is my logic:
Over the last several months I had heard it all. Medicare Advantage is going away. The days of the Balanced Budget Act are back. Time to call in the dogs and put out the fires. But wait, a 3.3% increase to reimbursement rates? What happened to the 8% reduction? Looks like all the anxiety over Medicare Health Plans was for not.
Time and time again we have seen this play out in similar fashion. Government programs are introduced or adjusted, and instead of detracting from the potential of the market, it creates more opportunity than ever before. This phenomenon goes all the way back to the inception of the Medicare trust fund, to the standardization of Medicare supplements, to the MMA, and now Health Reform known as the Patient Protection and Affordable Care Act. Contrary to initial reactions, history shows us that these laws have created enormous opportunities for agents and agencies who are prepared.