Selling Medicare Products

Essential Care is a full-service insurance General Agency that works with independent insurance agents. Our agency provides agents with access to all major carriers for Medicare Advantage, Medicare Supplement, and Part D Rx plans. A Medicare insurance agent should assist seniors in understanding the differences between plans so that they can make the best decision. Essential Care offers free hands-on sales training, live and recorded educational webinars, free Medicare leads, back-office support, and a variety of other benefits and sales tools that allow agents to focus on growing their sales.

As we all know, despite its numerous benefits, Original Medicare (Parts A and B) only covers about 80% of a policyholder’s healthcare costs, leaving the policyholder to pay the remaining 20% out of pocket. Furthermore, Original Medicare does not cover some of the important health-care needs, such as prescription drugs, eyeglasses, hearing aids, and dental care.

However, in addition to Medicare Part A and Part B, Medicare – approved private insurance carriers offer a wide range of supplemental policies that agents can use to fill in coverage gaps in the Original Medicare plan. Our General Agency assists agents in obtaining contracts with carriers and selling various Medicare plans to qualified prospects in a more effective and efficient manner.

Medicare Advantage Plan (Part C)

Essential Care gives agents access to the following Medicare-approved private insurance carriers that offer Medicare Advantage plans: Aetna, Humana, Anthem, UHC, Healthfirst, WellCare, Emblemhealth, Cigna, and others.

These Medicare Advantage plans either have no or very low premiums. Medicare Advantage plans pay for doctors and hospitals, as well as prescription drugs and other services not covered by the Original Medicare. One-third of Medicare beneficiaries choose Medicare Advantage plans.

Many Medicare Advantage plans are either PPO or HMO. HMO members can only use hospitals and doctors in the plan’s network. Members of PPOs, on the other hand, are permitted to seek care outside of the network, but such care may be more expensive. Some Medicare Advantage Plans require a referral from a primary care doctor before approving specialist procedures or care. Furthermore, some plans’ coverage may be limited to a specific geographical area. Some plans, however, may provide additional benefits not covered by  the original Medicare, such as routine dental care, gym membership, or eyeglasses.

DSNP (Dual Special Needs Plans)

Medicare Special Needs Plans are a type of Medicare Advantage Plan that is designed to meet the specific needs of some Medicare beneficiaries. Some Special Needs Plans are for people with certain chronic diseases or conditions, while others are for people who have both Medicare and Medicaid, and still others are for people who live in a nursing facility.

There are numerous Medicare Advantage plans available, and you should assist your client in selecting one that is best suited to their specific needs.

Medicare Supplement Plans

Essential Care Insurance Agency offers agents contracts with the following Medicare Supplement insurance carriers: UHC, BCBS, Humana, United American, Aetna and more. Two-thirds of the 61 million Medicare beneficiaries opt for the original Medicare, which covers doctors, hospitals, and medical procedures. About 81% of these beneficiaries increase their insurance coverage through Medicare Supplement Insurance (also through employer-sponsored insurance or Medicaid).

This option is more expensive than Medicare Advantage Plans, but both the original Medicare and Medicare Supplement (Medigap) plans cover any doctor or hospital that accepts Medicare in the United States. Furthermore, no referral or authorization from a primary care doctor is required prior to undergoing a procedure.

This coverage is available throughout the United States, making it ideal for prospects who travel frequently or spend time in a different location each year. This option is also appropriate for those who want to use a specific hospital or physician. Agents can recommend Medicare Supplement plans to seniors if they are appropriate for the prospect’s circumstances.

Medicare Part D Rx Plan

The Essential Care Insurance Agency provides agents with access to the following Prescription Drug Plan (Part D Rx) carriers: Silverscript, WellCare, Aetna, Humana, UHC, and others. After enrolling in the original Medicare, one of the most important decisions an individual must make is which prescription drug (Part D) insurance plan to purchase.

Anyone who does not enroll in a Part D Rx plan after starting Medicare may be subject to a late enrollment penalty. The late enrollment penalty is a fee that is permanently added to the premium for Medicare drug coverage (Part D). A beneficiary may be subject to a late enrollment penalty if he does not have Medicare drug coverage or other creditable prescription drug coverage for 63 days or more after his Initial Enrollment Period ends. In most cases, beneficiaries must pay the penalty for the duration of their Medicare drug coverage.

The late enrollment penalty is calculated based on the length of time the beneficiary was without Part D or creditable prescription drug coverage. The penalty is determined by multiplying 1% of the “national base beneficiary premium” by the number of full, uncovered months without Part D or creditable coverage. The monthly premium is added to the Part D premium of the beneficiaries and rounded up to the nearest $0.10. Because the national base beneficiary premium varies each year, the penalty amount may also vary.

Several Medicare Advantage plans include Part D insurance, but there are also stand-alone policies available for those who prefer Original Medicare or a Medicare Supplement policy that does not include Part D.

Download our Medicare Sales Quick Start Guide

Our team is here to help you guide your prospects through the process of selecting a plan that meets their needs. In addition, we provide valuable free benefits to agents who would like to partner with us.

Contact Essential Care Insurance Agency today to get started!

Get Contracted with Essential Care Insurance Agency

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