Plan Advisors

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Do you have a Medicare Beneficiary with Plans to Relocate?

Medicare Advantage

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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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We’re almost halfway through 2022; can you believe it? A new year on the horizon comes with a commission increase for Medicare sales specialists! These increases will apply to those who are enrolling clients into 2023 Medicare Advantage plans and Part D drug plans. This now marks the eighth consecutive year that CMS has raised the commission for sales specialists. Agents’ compensation is directly tied to new enrollments and retainment of beneficiaries. With a combined 50+ million beneficiaries enrolled in Medicare Advantage and Part D drug plans, there has never been a better time to become a Medicare broker.

Let’s take a look at the new commissions and what brokers can expect in the coming year:

Curious as to how this compares to years prior? View the chart below:

YearNationalCT, PA, DCCA, NJPRPDP
2021$539 / $270$607 / $304$672 / $336$370 / $185$81 / $41
2020$510 / $255$574 / $287$636 / $318$350 / $175$78 / $39
2019$482 / $241$542 / $271$601 / $301$331 / $166$74 / $37
2018$455 / $228$511 / $256$567 / $284$312 / $156$72 / $36
2017$443 / $222$498 / $249 $553 / $277$304 / $152$71 / $36
2016$429 / $215$482 / $242$536 / $268$294 / $147$63 / $32
2015$408 / $204$461 / $230$510 / $255$280 / $140$56 / $28

Here at Plan Advisors, we believe that things are only going up for brokers that are specializing in Medicare Advantage and Plan D drug enrollment plans.

Check out the full CMS fact sheet or contact us today if you have additional questions!

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Did you know that you can make extra money on your enrollment by helping clients complete a Health Risk Assessment (HRA)? There is a new Value Based Enrollment (VBE) process launching May 3, 2022 that will allow you to earn additional payments for each Special Needs Plan enrollment.

What Information Should You Know? 

Beginning on May 3, 2022, Wellcare will discontinue VBE for all Medicare Advantage Prescription Drug Contracting (MAPD) enrollment types, with the exception of Dual-Eligible Special Needs Plan (DSNP) and Chronic Condition Special Needs Plan (CSNP) enrollments. On the contrary, VBE administration payments will increase to $125 for each DSNP & CSNP enrollment! If you would like more information on how to filter by Special Needs Plan in MedicareCENTER, watch this video.

It becomes important to note that VBEs will be limited to DSNP and CSNP enrollments only for all legacy Centene and Wellcare plans. Additionally, Ascension Complete and Fidelis VBE processes will remain consistent with the previous processes. Lastly, the “Call Me Now” and “Schedule a Call” functionality will no longer be available. To complete a VBE you must choose the “Agent Completed” option.

Why Is This Information Important For You? 

How easy is it to complete the HRA for your client? It is an extremely easy and efficient process that will allow your client to feel covered and for you to earn a bit more income. You view the instructions on completing the Health Risk Assessment on MedicareCENTER. If you would like to complete your client’s HRA through MedicareCENTER, please reference this chart to see the list of carriers who offer HRA completion.

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While 2020 was a year that many of us are happy to see getting smaller by the day in Father Time’s rearview mirror, there are some things we can look back on and study to get a better understanding of what might be to come. The Kaiser Family Foundation put together a great piece titled A Dozen Facts About Medicare Advantage in 2020. It looks at Medicare Advantage from many angles and may provide you with insights that will help your business.

[Read more…] about A Look Back at Medicare Advantage in 2020