Plan Advisors

Helping you choose the right health plan

How To: Request a Release

AEP

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You may be in a situation where you no longer wish to remain with your current FMO or upline agency. This could be for a variety of reasons. If you are looking to relocate to a new FMO or agency, it’s important to be aware that cutting ties is not as simple as merely walking away. To make this change, you must request a release before you can move on to your next endeavor. Ready to initiate the process with your FMO or agency? Here’s what you need to do:

Understand Your Current Contracts

Before requesting a release, it’s essential to understand what you’ve agreed to in your current contracts. Whether with an FMO, upline agency, or carrier, terms will be laid out in your agreement regarding what you need to do to secure a release. Understanding your contracts helps you know what is expected of you and what your carrier, upline agency, or FMO has agreed to cover.

Timing Matters

With carriers, you will find that there is an immediate release request as well as a delayed release option. If you request an immediate release but don’t hear back, it may be in your best interest to fill out a delayed release form. If your current FMO responds after initiating a delayed release, you can submit the release letter, which will supersede the requested delayed transfer.

There are certain times during the year when releases are unavailable to be requested. This is typical during AEP since releases can sometimes be a major interruption to your daily responsibilities. During these blackout periods, carriers often want to focus their resources on helping agents with sales and support rather than onboarding and offboarding agents. Many carriers will allow a hierarchy change once every 12 months. If you have questions about a specific carrier, don’t hesitate to contact our Plan Advisors team at info@myplanadvisors.com. 

Consider the Implications

Whatever your reasons for leaving your current carrier, make sure you’re aware of the aftermath for your business. Whether you’re leaving a carrier or your FMO, you may be receiving resources and support that you don’t fully recognize until it’s gone. So be sure you have everything you need to succeed once you’ve moved on to your next venture. 

If you have other agents you’re partnered with, it’s also important to consider your downline. For example, is the release you’re requesting just for yourself or your entire downline? Make sure you have these types of questions answered before submitting a release.

Submit a Request

When filling out your request for release, check to see if your FMO has a form template that you can use. Many carriers have a carrier-specific release form they require (some won’t accept a release on an FMO letter). If not, you can write your own request and submit it to the proper contact(s). Simply make sure your request is direct and to the point.

Rejection is a Possibility

Be aware that depending on the situation, your request may be denied. This is often due to financial reasons. For instance, if an FMO invests thousands of dollars into an agency to help them market themselves, but ultimately that agency never sells any plans, they may not release that agent. There are options for FMOs to make agreements with other FMOs to recoup costs incurred by an agent, but that is less common.

If you need a release from your current carrier, FMO, or upline agency, contact us with any questions at info@myplanadvisors.com. We are here to walk you through the process and ensure you have everything you need to get approved!

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You may find yourself in the place where you’ve exhausted all of your ideas on how to grow your Book of Business. If all of your ideas only involve printed materials and in-person networking, you may be missing a major opportunity to grow your reach. There are a lot of social media platforms out there that will help you market your business, but if there’s one you should focus on, it’s Facebook.

Facebook Ads are an excellent way to get your name out there and to track engagement with all the analytics you want to see. Here are a few ways that Facebook Ads can help grow your business and a brief explanation of how to set them up.

Robust Analytics

The metrics that Facebook Ads supply can function like a reliable family car or a souped-up sports car. If you just want to see how many people are clicking on your ad and going to your site, you can do that. However, you can also see things like ad impressions, relevance score, geographical location, result rate, frequency, and many more pinpointed statistics to help you see the success of your ad. So even if all of those analytics sound overwhelming, don’t worry. It is completely up to you what metrics you utilize and which ones you ignore.

Target Your Audience

As a Medicare or ACA agent, you have a specific demographic you’re seeking to target with any ads you post. Facebook Ads allow you to target an audience based on age range. This is a huge advantage as it prevents you from spending time filtering when looking through potential leads.

Find New Leads

As of February 2022, Facebook has almost three billion active users. Yes, you read that right. Three billion active users! Posting ads through Facebook is a fantastic way to generate new leads and build trust with beneficiaries, new and old. If you can gear your content toward your preferred audience, Facebook Ads can present a huge opportunity to reach people outside your normal spheres of influence.

A Quick How-to Guide

  1. Create a page for your business
  2. Go to the Ads Center
  3. Create a new ad
  4. Here is where you select all of the information you want to share, select your budget, choose your audience, and attach any relevant media
  5. Once you hit “promote now,” your ad will go through an approval process, then be posted!

It’s a fairly simple process that, once accomplished, can be repeated anytime you wish! 

As always, with any of these tools, Plan Advisors is here to support you with any questions you may have! Our team can help you set up ads and track how they’re performing. We want to be the best FMO for you and your needs as a broker. That’s why, along with helping you use outside tools like Facebook Ads, we also have tools like Medicare Center, our Broker Portal, and other enrollment tools! We are here to serve you as you grow your Book of Business.

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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!

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It’s almost that time of year again! October 15th is approaching quickly! The Annual Enrollment Period (AEP) is one of the most anticipated days of the year in the world of Medicare brokers. Let’s admit that saying you’ll be busy might feel like an understatement. However, Plan Advisors is here to help you prepare and ensure you have the resources you need for your most successful AEP yet.

  1. Get Contracted NOW – The closer AEP is, the more brokers there are vying to get an appointment for new plans. Now is the time to prepare for your carrier appointments. Take it from us – you don’t want to be stuck at the back of the line!
  2. AHIP or NAHU – Don’t forget to do your annual training! AHIP is universally recognized, but NAHU is cheaper, offers CE credits, and is growing its carrier base daily. Whichever you choose to pursue, you don’t want to wait too long.
  3. Complete Carrier Specific Certifications – It is fairly common that you will not only need to submit your AHIP or NAHU certification but also to complete specific MA plan training. The more quickly you can get your certifications out of the way, the more time you’ll be able to dedicate your time to marketing and selling. There is no time like the present to get started on your carrier certifications for any new plans you want to represent in 2023.
  4. Get Familiar with Online Enrollment Platforms – With digital enrollment tools being utilized more than ever, it is vital that you learn the best tips and tricks to use them to your advantage. Whether it’s a carrier-specific enrollment platform or MedicareCENTER, you’ll want to create strategies that use them effectively. 
  5. Get Familiar with Broker Portals –If you aren’t sure where to access things like plan materials, commission reports, customer service submission, and much more, then you need to become more familiar with our online Broker Portal. Having a thorough understanding of this tool can have a major impact on your business. 

If there is one tip that can be seen repeatedly, it’s that you should never wait to get things done when it comes to AEP. Whether it’s appointments or certifications, the sooner you can get them done, the better you’ll be able to serve your book of business, new and old. It is never too late to start preparing, gathering materials, and getting ahead of the rush for the 2022 Annual Enrollment Period.

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As Brokers, it is essential to know and be prepared for all upcoming AEP dates and additional requirements pertaining to each carrier’s certifications. Below is a list of the remaining AEP dates in 2023 and some extra information to keep in mind for each! Click here to stay up-to-date with all carrier certification dates for the upcoming 2023 AEP!

Do you need guidance from Plan Advisors? Click here to review Plan Advisors’ 2023 Carrier Certification Guide or contact us at info@myplanadvisors.com!

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As a broker, do you utilize the employers in your local community? If not, you are not alone! Employers are often an underutilized resource in the Medicare industry. If you are not forming and developing relationships with local businesses in your area to build your book of business, you’re missing out! Employers offer a direct pathway to people, which includes those who are turning 65 or planning to retire soon. This space is ripe with potential to build your book of business. Plan Advisors has developed a guide to help you connect with employers to educate employees and clients nearing Medicare age.

Let’s Get Started! 

Are you overwhelmed when thinking about the upcoming AEP? At Plan Advisors, we understand that it may seem daunting. However, we believe that working through a new market, like employers, is the first step to building a solid foothold within your community. All it takes is a little work, and you’re on your way to finding employers which enables connection with new Medicare beneficiaries. Here are a few steps to get you started:

  • Call organizations and businesses in your area and ask them if they provide Medicare educational services to their employees. If not, you can schedule a meeting with their HR directors to share information about Medicare and how you can help those approaching retirement. Once an acquaintanceship is established, it’s your job to nurture the relationship and prove your worth.
  • Follow-up with past employers of the retirees you serve. This will cover your bases, and you may discover employers you did not initially consider. A lot of your leads and individuals are going to derive from current clients. Capitalize on this!
  • Start simple with materials such as informative handouts, but always be willing to journey above and beyond with in-person seminars and consultations for prospective clients. This is a great way to build a relationship and instill yourself as an expert in your field and someone who will be dedicated to the needs of your clients.

Let’s Scope Out an Audience!

Once you’re working on forming connections with new employers and establishing your role as their Medicare expert, what’s the next step? You maintain those relationships! At the same time, however, you must continue working to build new ones while being dedicated to helping your current beneficiaries. Here are a few more tips and tricks for finding your niche market through these employers: 

  • Meet and Greet. Mingle with HR representatives at businesses in your local community. Be confident in yourself and your knowledge to be able to reach out to new people. The larger your network grows, the more exciting opportunities you may find moving forward. You want to become the go-to Medicare expert for the employers that you form connections with.
  • Cultivate. Introduce educational material above promotional material. Employers don’t want to be sold to, but they may desire the information you provide. It becomes important to note that employers are not always familiar with or considering Medicare. Therefore, providing handouts or conducting seminars for potential Medicare customers is a great way to teach them what they need to know and what you can do for them, without pitching yourself to them.
  • Relieve. Focus on alleviating the burdens that HR is feeling by marking one thing off their checklist. Again, the employers may not be considering the steps and information needed to help their employees navigate Medicare. Be the Medicare expert.
  • Develop. Get to know seniors early, develop fellowship and camaraderie, before they turn 65 or retire. You, their friend, can prepare them for the future—what to expect, when to call Social Security, and what plans are best for them. If they already know who you are, your goals, and what you can do for them, that is one less obstacle they have to consider when the time comes. 

Finding new pathways to seniors and potential clients can seem unnerving, but with these steps, tips, and tricks, you’re able to gain from this underutilized lead source. By utilizing your local community’s employers, you’ll be able to help those of retirement age navigate the Medicare space with ease.

Need help sowing the seeds for AEP? The Plan Advisors team is here to help you diversify your lead sources for a more successful AEP.