How Agents Influence Medicare Beneficiaries Plan Choices

Yet beneficiaries have limited ability to gauge the caliber of their agent, as there is no systematic or transparent way either for them or plans to avoid a bad actor. Often, friends or family can provide a referral to an agent, but in other cases it is up to the beneficiary to screen agents. Our Scorecard ranks every state’s health care system based on how well it provides high-quality, accessible, and equitable health care. Agents work on a commission based on the Medicare policies they sell.

You can also enroll in a Medicare Advantage plan during the Annual Election Period , which occurs from Oct. 15 through Dec. 7. We never take your clients; they are ALWAYS yours to keep even if you decide to leave us. I have marketed my website for only a couple of months and seen amazing medicare agent results. As I get ready for my 6th AEP, I am so excited to be under AGA! I have never been treated so well as an agent and sometimes I can’t believe just how supportive AGA has been. Brandon Clay, “How to Become a Medicare Insurance Agent,” redbirdagents.com, June 2, 2020.

But after spending a few days researching Medicare online, she was still confused. Before applying for group coverage, please refer to the pre-enrollment disclosures for a description of plan provisions which may exclude, limit, reduce, modify or terminate your coverage. View plan provisions or check with your sales representative. Humana group life plans are offered by Humana Insurance Company or Humana Insurance Company of Kentucky. The biggest concern for most customers is keeping their primary care physician, so I help pinpoint plans that have their doctors in network.

One of the key benefits that consumers should know about is that they have a financial safety net, called the maximum out-of-pocket . This helps protect the consumer from unexpected and often expensive events, like a hospital stay. To understand how agents’ business decisions might affect a beneficiary’s plan choice, we simulated an online plan-shopping experience and compared plan choices against the options provided through Medicare.gov. Our analysis shows the important role licensed agents play in shaping Medicare choice for beneficiaries and the extent to which carriers rely on them for growth. It also shows how the agent business model may affect beneficiary choice and overall Medicare literacy.

Plus, every service area has different rules or guidelines regarding plans, making consistency difficult. Working with an FMO generally gives you access to much better contracts and product offerings. These organizations have connections with multiple carriers and can offer you more connections and better commissions than you would earn by trying to work directly with individual carriers. They also often offer assistance with training and certification requirements.

Currently a licensed health agent, she draws on her knowledge and more than 15 years of experience with the Medicare benefits counseling program. She also teaches health care insurance at UC Berkeley Extension and works with a non-profit, After-Innocence, that helps exonerees transition to life after wrongful incarceration. A licensed agent can quickly and efficiently search dozens of plans from different insurers, saving you time and money in the process. Many enrollees do not realize that other companies charge different premiums for a policy with the exact same benefits.

If you prefer to work for yourself but appreciate strong support, consider working as an independent insurance agent for Assurance. Take the marketability of each product into account as well. Many carriers have minimum product requirements, for example, at least one enrollment per product. Certain carriers allow you to skip the contracting process if you already sell their other products. Others require you to contract for each new product line you sell. Double-check with your point of contact at each carrier to make sure you understand the proper procedure.

For 2022, these commissions are capped at $87 for first-time enrollment and $44 for each renewal. Once you're licensed, you'll need to contract with Medicare carriers to sell their products. To sell Medicare Advantage plans, you'll have to complete the America's Health Insurance Plans certification in addition to each carrier's compliance and product certifications. These certifications exist to help protect seniors and reward agents who do things the right way. If you've never trained to sell Medicare before, set aside two to three weeks to complete all of the requirements. The best time to get started is ASAP, even if the next open enrollment period is months away.

We are committed to providing superior customer service and education. We look forward to helping you succeed with your health care choices. When it comes to considering your Medicare options, you can spend hours doing your own research or you can speak to a local, licensed agent with HealthMarkets. Your agent will compare your options to find the coverage that’s right for you … at a price that fits your budget. With a HealthMarkets agent, you get the benefit of great counsel along with great choices.