Brokers Assistance has your Generic Senior Scope of Appointment Letter available for download. Click the image to download.
Medicare Has Robbed Agents
of Thousand of Dollars
Insurance agents go through extensive background and credentialing, continuing education and hours of testing to certify on each Medicare Advantage and Part D we represent. We pay to carry malpractice insurance and work very hard to serve our clients, often working after works hours and on holidays.
Now agents across the country are irate and demanding the Centers for Medicare and Medicaid (CMS) stop abusing them.
CMS voided the agent commission structure and came out with a standardized structure in November 2009. After thousands of policies had been sold, CMS again changed your commissions RETROACTIVELY so that you would only be paid an initial year commission on "people new to Medicare Advantage or Part D" in lieu of a renewal commission.
What other business person finds out what he will be paid after he does the work? Then has to wait 8 months for his money? Without interest?
CMS stated they would issue a file to the insurance companies in order to determine who was "new" to Medicare. No timeline was given and thousands of agents who worked hard last fall were told to wait indefinitely for their money.
We waited very patiently while federal money was handed out left and right to failed or failing businesses.
We waited for over 8 months for our money, while we waited our mortgage companies and gas companies didn't wait. Many agents have fallen behind on our bills, but there is no recourse for us.
We had no choice to keep waiting when CMS announced the files to pay us would be transmitted in February, and then without any announcement, were not.
We waited when in April, CMS told us the files were sent to the insurance companies and we would be paid in May.
We stood by in shock when the insurance companies then told us the CMS files WERE WRONG and there was not timeline given to them by CMS for corrected files.
Now, June 16th, we are told that the definition of "new to Medicare Advantage" has been changed. We can expect to not be paid on 1/3 or more of our policies. To add insult to his injury, CMS tells us there is no provision to appeal. Read More
New Guaranteed issue plan from Assurant
Assurant has come out with a new limited benefit plan for consumers. This plan is a guaranteed issue plan. While it is not a full Major Medical product, it could be extremely useful for struggling families. For more information and state availability, please take a look at the MS PowerPoint below. NOTE: Comming to Colorado beginning Sept. 1st, 2009.
New Rules for Marketing MA and Part D Plans
You have registered for AHIP's course, "Marketing Medicare Advantage and Part D Prescription Drug Plans: Understanding Medicare Basics, Plan Options, and Marketing and Enrollment Requirements." You need to comply with new rules from the Centers for Medicare & Medicaid Services (CMS) that apply to sales of all 2009 Medicare Advantage and Part D plans. CMS and plan sponsors will be overseeing marketing activities to ensure compliance with the new requirements. Please follow this Weblink to review the slides in Part 4 that highlight the new requirements in yellow font. To ensure that plans can fulfill their obligation to appropriately train marketing agents, we will track whether you have clicked on the weblink and reviewed the revised slides.
If you have not yet taken the exam for the course, you will be expected to know the new information when you take the test. We encourage you to review all slides thoroughly to ensure your readiness for the exam.
Senior Product News New updated version 2 of the Senior Scope of Appointment Letter available for download. Click here to download and print. |
Major Medical News New Commission Disclosure Law
There is a new law in Colorado. Agent/Brokers are now required to disclose commissions to the customer. Read More |
Life News Do you have a client with a Lead foot? Check out the NEW Liberalized underwriting on MVR and moving Violations. |
Income Protection News No new Income Protection product news. Check back here regularly to get the latest news updates about the Income Protection industry and company updates. |
