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Your game-changing mid-AEP pep talk

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Between babysitting their existing book of business and chasing down quality leads to create new business, agents are bound to be feeling a mixture of exhaustion and frustration at this point of the Medicare Annual Enrollment Period. Can you relate?

Don’t worry. If you’re not seeing the success you think you should as we reach the halfway mark, you still have time to turn things around. 

My advice for agents looking to strengthen their sales practices is to focus on time management and asking for referrals. Make sure you’re keeping as many appointments as you can by planning your day in advance. Be honest with yourself about your work capacity and make wise investments to make sure you don’t fall behind (I recommend reading my recent posts on hiring an administrative assistant or compliant meeting spaces that require less travel to help you further see my point). Before you wrap up with each of those appointments, remember referrals.

Asking for referrals makes a lot of agents uncomfortable because they may have never learned how to do it properly, and some agents just plain forget to ask. It’s a shame because referrals are more than the greatest “thank you” a client could give you — they’re also the easiest leads to pick up.

It’s simple: Referrals are a natural part of the conversation during an appointment. If you’re making appointments with clients in their homes or at a coffee shop to answer questions about a plan or to review any plan changes, you’ve already set the stage by showing your expertise and that you can understand seniors’ specific health and financial needs. Hopefully you’ve made an effort to keep in touch with them throughout the year or have made yourself available for phone calls or emails.

It’s not impolite to remind your clients that referrals are the best way for them to thank you for your efforts. Being an agent is your business — it’s also how you pay for your daughter’s tuition or buy diapers for a little one. Don’t belabor this point as you let them know you appreciate them putting in a good word for you with their friends and family. They will more than likely be able to think of someone if you’ve provided excellent customer service and have helped them meet their needs. This mindset will pay you big dividends for years to come if you convert your new Leads and factor in renewals.

A book of 300 clients is typical for an agent. If each of these clients gives you just one referral because you find a way to request it in your sales practice, you could have 300 fresh Leads.

Remember: Plan your work and work your plan. AEP will be over before you know it. Now get back out there and help everyone you talk to see the true value of your knowledge and services for their health care needs.

Click here to subscribe to The Agent’s Advantage blog to read more of CEO Bob Bever’s special AEP series in your Inbox. You will receive one weekly newsletter during AEP.

Be prepared for anything during your Medicare Advantage appointments

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It’s surprising how much can distract you or take you away from your appointment time during the Medicare Annual Enrollment Period. That’s why you need to be prepared for anything, especially if you want high commission payouts in January. Here’s my list of practical advice that will help you plan wisely.

  1. The first you’ll want to do is check your attitude. You don’t want to pre-judge a Medicare member by the condition of their house or their appearance — these things don’t always give you the right reading of who a person is. Track how many times you feel like you’re dismissing a sales opportunity because you’re being judgmental. Then work to fix your attitude.
  2. Next, view yourself as a trusted senior insurance adviser, not a sales person. You’re there to help the member with his or her health needs, even if a sale doesn’t happen. Ironically, this attitude will help you close a sale more often because it helps show members you’re the real deal.
  3. Being respectful and trustworthy are going to put you light-years ahead of other agents who slam a product down and walk out of the door, never to be heard from again. If you incorporate these virtues into your sales practices, you’re more likely to create repeat business and referrals in the long term. I’ve never understood why more agents don’t see this is what makes their book of business robust and lasting.
  4. Now that you’ve taken care of your mind, most of my practical advice deals with your car. Logistical issues can reduce the amount of appointments you run like no other. You’ll need to keep a set of jumper cables and basic tools in your car, even if you’re not travelling across the state or selling in more than one state. It’ll cost you a day of appointments if your battery dies. When I was in the field I also kept an air pump and tire plugs in my car so I could keep moving if I drove over a nail or something. I’d just throw a blanket on the ground and take care of it with a pair of pliers. If you’re travelling long distances or between states, keep a rental car company in mind if you don’t think your car can hold up for any part of the nine-week sales season. Consider it a wise investment.
  5. I always make sure I knew where I’m going each day by planning my routes the night before. I never totally rely on a GPS because it can stop working. I recommend having a separate GPS that is not on your smart phone because, because let’s face it, most of us are on calls while driving. Don’t drain the battery or crash your apps with navigation. Keep the phone navigation as your backup.
  6. Keep at least one packet or brochure for each of the products you sell in the car just in case something comes up in an appointment that gives you the opportunity to legally cross-sell. Don’t scatter them on the floor in the back seat — keep them in a bankers box or in an easy to carry portfolio.
  7. I always keep a complete change of clothes in my trunk when I run appointments, too. Not just a fresh shirt, but pants, socks, everything. You never know if you’re going to spill something or sit on something unfortunate like a sofa cushion freshly sprayed with cat pee. Yes, I’m speaking from personal experience.
  8. Looks matter, but don’t overdress. Most beneficiaries felt at ease with me when I was wearing a simple polo or golf shirt and a pair of slacks or khakis. Ladies, a simple skirt works just as good as pants, but there’s no need to dress formally. Make sure you’re comfortable because you’ll be out all day.
  9. My last word of advice is to plan your meals. Eat a good breakfast before your set out each morning, and keep a few protein or meal replacement bars with you — I avoid the chocolate ones because they melt. Stay hydrated. You can always stop for lunch somewhere, but remember that has a time and a financial cost against your AEP earnings. Eat a good dinner even though you’ll be home late. Oh, and lay off the garlic bread or anything that could make your breath an issue.

You don’t realize what dropping an hour here or there can do to your bottom line when you’re in the trenches, but I hope I’ve enlightened you here. Make a plan that works for you, work your plan and you’ll be able make at least one more appointment a day. That will pay off big time over a month. Above all, be prepared for anything that this AEP has to throw at you.

Are you making the most out of your AEP? We can help increase your sales with our training and support! Check out our training webinars on our event calendar by clicking here. Want to pick up some more contracts? Click here to see a list of our carriers.

How to realistically increase your app writing capacity during AEP

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How many apps you write during AEP determines how big your commission is going to be in January, so you’re going to want to make sure you have a plan for the busiest time of the year if you really want to see success. The biggest challenge for most agents during AEP is the logistics: the number of appointments you make with Medicare beneficiaries to secure your sales goal and the fact you need to travel to their homes. It’s extremely easy for agents to get caught up in driving around town to all of the appointments they make and lose sight of the rest of the work they need to get in so they can get paid. What’s the solution? What’s the best way to realistically increase your app writing capacity during AEP?

The single greatest piece of wisdom you can glean from my three decades of experience in the field is that top producers don’t necessarily work alone. You’re going to have to bite the bullet and hire a temporary administrative assistant if you want to see phenomenal earnings. With the help of Diane, someone I hired to work out of her own home, I put in 1,800 apps during my best AEP. That’s about 600 apps a month, mainly in group meetings.

Increase your app writing capacity

I would get referrals from local churches for assistants. They were usually single parents who could work from home. There’s no need for them to come to your home, and if you are affiliated with RB Insurance they can use the Medicare Sales Engine to process your Leads, make outbound appointment calls and enter sales information for you that lets you track your commission. Calls will be recorded so you have backup in case you get audited.

You’re going to need a routine that ensures you’re filling out apps at a steady pace and that you’re filling them out compliantly and correctly, which is just part of the value of hiring an assistant. Showing your clients the utmost courtesy and respect is important, and that’s easier when you’re not scrambling back and forth to the fax machine. An assistant can call clients well in advance to reschedule if something comes up instead of you giving a “Sorry, can’t make it” to them 30 minutes before the appointment. Getting a beneficiary mad is the best way to lose a sale.

Before you tell me you don’t want to spend money on an assistant, let me tell you in plain English: If you’re writing 250 apps a month during AEP you’re going to be earning around $50,000. You can afford to hire someone to keep you sane and to help you reach that capacity during those crazy three months. After working on your feet all day, you’re not going to want to spend two more hours processing all the required paperwork.

The assistant can take some of the burden of the mundane stuff off of you, and as long as he or she isn’t discussing plan benefits with beneficiaries on the phone, no insurance license is required to do the job. Understand that you get to keep all the commission your assistant helped you earn in the second year when you get renewals.

You’re going to have to get used to the fact you can only turn in 80 or 120 apps a month if you’re working solo, and you’ll get a commission that fits those numbers. It’s all about your time and ability during AEP, and without an assistant my experience has shown me you’re going to be taking time and energy out of your appointments.

Call us 1 (800) 997 3107, Monday through Friday, 7 a.m. – 5 p.m. MST, to learn more about how RB Insurance makes sales success happen for independent Medicare agents. Click here to see a list of carriers we work with, and get started!

The easiest (and most effective) Medicare marketing practice? Staying in touch!

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Last week I wrote that referrals maximize your hard-earned Medicare book of business and shared just five of the best ways to stay in touch with your clients as part of your Medicare marketing. This week I’m sharing five more tips that should get you thinking about marketing your Medicare business the way big companies think about their campaigns.

Why do you think big companies spend millions of dollars on TV commercials, newspaper inserts and other promotions? They know that building a successful brand requires a consistent approach to reaching consumers. In our world of information overload, you may not notice most of the ads on the sides of your favorite web sites, print magazine pages or even the ads before the latest viral YouTube video, but some of them are bound to capture your attention. My wife just bought a 20 oz. Coke simply because it had my name on the bottle — part of  Coca-Cola’s instantly effective Share A Coke campaign.

Balancing innovation with consistency in messaging is vital to any brand’s success, and that includes your senior insurance business. Having a great product for sale is only a beginning — you  have to reach out to consumers with advertising to succeed. It also takes continuous messaging to enter consumers’ consciousness. What if a big brand like Coca-Cola stopped its marketing efforts after the first try? It would have wasted precious time, energy and money. So will you if you don’t commit to marketing your Medicare business!

It’s possible your clients have forgotten you just three weeks after giving you apple pie and ice cream at the kitchen table when you went over Medicare Supplements with them. It’s much more likely they have forgotten about you if the last time you contacted them was your initial appointment last AEP. That’s why you have to conduct your business like the big corporations do — stay in touch! 

Think of your business, your products and your clients.  What types of ongoing communications yield greater client satisfaction, repeat business and referrals? Here are the next five in My top 10 ways to stay in touch with clients:

6. Hold educational sessions. Depending on your industry and product, your current clients might benefit from additional education.  If you’re in insurance or financial services, the list of topics is endless. These meetings are not designed to be sales events, but are set you up to let your clients know you’re there for them as a trusted advisor.

7. Connect with social media. OK, so your clients probably shouldn’t be adding you as a friend on Facebook, but they can follow your business and “Like” it.  There When used effectively, social media can help you reach clients in innovative new ways.  Of course, make sure to keep these outreaches strictly business!

8. Video messages. YouTube, Vimeo and other services make it possible for anyone to present relevant information to a worldwide audience.  You can make a message or series of messages that provide greater insight into your products and your services.  You can even create your own channel that your clients can watch and refer people to. I know a life insurance agent that does short, information-packed videos to teach his clients about the different forms of insurance.  This establishes his credibility and allows new clients a way to get to know him prior to calling.

9. Send emails. We all get more emails than we can read each day.  You could use form emails to send to your entire client base through a CRM, but a personal email is more effective.  You could send a “thinking of you” email that contains an interesting article.  You can also send new product information that attaches all the company bells and whistles to make it compelling and interesting.

10. Conduct a survey. Do you really want to know what your clients think or what they want? You should, because that’s the key to determining how to get them to buy more or refer more people to you.  Several online survey platforms like Survey Monkey will allow you to send a simple, short survey and even offer an incentive for their feedback.

As you stay in contact with your clients, not everything you do will be a hit. Some things will miss.  What matters is being consistent and being motivated to serve. The effort is worth it, so stay in touch!

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ICYMI: Our 2016 Aetna Medicare Advantage benefits preview was a day at the beach

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For all of you who missed our 2016 Aetna Medicare Advantage benefits preview meeting last week, you sure passed up a great opportunity to learn about how competitive Aetna will be for this year’s Annual Enrollment Period (We also gave away a free Android touch tablet loaded with carrier enrollment tools to one of the lucky agents who registered for our event!). Don’t sweat it too much — here’s a quick rundown of what we covered.

Also, if you live in the Phoenix metro area and are interested in joining us as a presenter, read on to learn more about upcoming opportunities at our next Aetna events!

At the top of everyone’s mind was Aetna’s recent takeover of competitor Humana in a $37 billion acquisition yet to be cleared by the Justice Department. The short answer to what’s going to happen next is simply “nothing for now” — the carriers won’t be completely reorganized until next year, so all of the 2016 plans that have been filed will remain the same. The earliest anything could happen to Aetna Medicare Advantage benefits is January 2017, and even that is pushing it considering benefits are filed every year by June 1.

We all know Aetna is a well recognized brand and, for agents who work in our home state of Arizona, it has partnered with Banner Health Network to come up with a great plan with great co-pays. We have a special link for licensed agents to preview the benefits, though you do have to attest that you are a licensed agent and will not share them with beneficiaries.

Click here to preview the 2016 Aetna Medicare Advantage benefits

Marketing Director Justin Bever talked about RB Insurance’s discounted AHIP program and how agents can get a 100 percent reimbursement for their 2016 AHIP certification if they use our link.

Justin also shared how our own Senior Broker Trainer Tom O’Neil got a perfect score on his AHIP test (not the first time that’s happened) and how we can help agents struggling to get through the test. Many agents don’t realize the AHIP is an open book exam and don’t know how to best go through their study material to help them ace the AHIP on their first try.

It was like a day at the beach for senior insurance agents who got a first look at a great set of plan benefits!

Click here to get your $50 AHIP discount and learn more about RB Insurance’s exclusive AHIP reimbursement opportunity

RB Insurance and Medicare Compare will be hosting sales events for Aetna agents across the Valley this year, and we need qualified presenters to run these meetings. We have 30 scheduled so far in the east Valley, but are still looking for locations in the west Valley side as well as agents to run them. These events are being advertised by Aetna via print and other media, so we expect a huge turnout!

Call us at (800) 997 3107 or email me to learn more and sign up.

Aetna is not requiring a face-to-face certification this year for their Medicare Advantage products as they have in years past, but if you’re interested in being a part of the RB Insurance/Medicare Compare team as a presenter, you will need to attend a two-hour class on running a public sales meeting. CMS Secret Shoppers will be out in force this year, so the fairly brief training is required —no one wants to deal with allegations that the benefits were not completely explained.

Inject AHIP discount and other AEP prep savings into your senior insurance business

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Ever since the Medicare Modernization Act of 2003 created the Annual Enrollment Period (AEP), I have viewed October 15 to December 17 as a season of harvest.  Sure, the savvy agents among us know there are plenty of year-round selling opportunities, but the surge in enrollments in mid fall definitely constitutes a harvest.

What do you need in order to bring it in? The right tools!

You can wait for carriers to release their special AHIP discounts and be obligated to sell their product during AEP. Or you can take advantage of RB Insurance’s impressive series of special offers that support agents in every step they must take in order to get Ready To Sell.

Discounted E&O insurance, a no-strings-attached $50 AHIP discount and the chance to have the rest of your 2016 AHIP certification costs reimbursed for making five sales with any of RBI’s products all represent real savings for agents. And, as always, RB Insurance’s experienced staff is available for free advice over the phone or in a one-on-one setting.

The immediate $50 you save on the 2016 AHIP training is real cash, and it’s yours whether you’re contracted with RB Insurance or not! On top of that, contracted agents who make five sales will receive a full reimbursement of their $125 fee for AHIP. If the carriers you have chosen to represent have a reimbursement program, you’re not excluded from signing up for them! Factor in the commission you’ll earn from those five sales, that’s a few hundred dollars in your pocket, just for taking care to prepare for for AEP.

What can you do with that money?

Sure, you could go out to eat, play a round of golf or go to the spa with the savings, but let me make a few suggestions that would actually help that money make you more money:

  • You could conduct your Annual Review Letter Campaign (Something I’ll go over in a future post)to alert your clients you will be contacting them October 1 about potential changes to their plan.
  • You could do a 1,000-piece mail drop and secure new clients for life insurance or other products you sell. You can go back to these people during AEP to help them with their senior health insurance decisions.
  • You could mail a hospital indemnity brochure to your current client base and conduct an educational review of that product. Remember, hospitalization is more often than not a matter of when, not if, for seniors.
  • You could prepare branding elements for your company such as business cards, brochures and other tools that can help establish you as a go-to resource for your clients.

Money is your best tool. When properly used and directed, it has the uncanny ability to multiply. Consider the offers I’ve mentioned here today and put that money to work for your business!

 

Four simple ways to power through AHIP 2016

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When are you going to start your 2016 AHIP certification?

While the Medicare Annual Enrollment Period, AEP, is still months away, I consider right now to be decision time for the training agents must go through in order to be Ready To Sell. What you do in the next few days and weeks will set the tone for how things will go over the next several months and into 2016 for your senior insurance business.

Want to be ready to preserve your current book of business and write new opportunities?  Then today is the most important date on your calendar.

Start your 2016 AHIP certification now, not later to avoid stress and to concentrate on scoring at least 90 percent. Image courtesy of Wikipedia

AHIP

Here are four simple ways to keep October 1st from becoming crunch time by deciding to act now:

1. Consider paying for your AHIP 2016 training. For me, nothing says commitment like spending my hard-earned money on something.  Yes, I understand some of you will wait for the carriers to launch their own training for a discount, and that is a great idea (In fact, my wife does this). However, don’t let the one or two weeks’ difference turn into one or two months before you actually begin your 2016 AHIP certification.  As I looked at my upcoming schedule, I saw the early start was worth more than the savings I would get if I had waited for a carrier discount. I looked up my login information from last year, filled in my credit card information and just a click later, I got immediate access to AHIP 2016.

While I have not yet finished, I have done something that makes most people feel almost as good — I started. You may want to pay for your AHIP up front to avoid stressing out about it later.

2. Download the slides and start reading. Did you know you can download the AHIP slides as a PDF? If you have a slow Internet connection, downloading AHIP 2016 content can make studying much faster than accessing it online. Personally, I don’t like reading while sitting at my computer, so I downloaded all five modules and put them on my iPad.  Over the next three days, I’m planning on reviewing the downloaded slides while riding the stationary bike at my gym. When I’m listening to ’80s music and wiping sweat off my brow, AHIP doesn’t seem as tedious!

3. Pace yourself. If you are a seasoned senior insurance advisor, then the material on the 2016 AHIP is more of a refresher.  If you are new to the business and this is your first AEP, then it will feel more like a university course. Break the five different modules into smaller, more manageable pieces to make it go down easier. You will retain more information this way and score higher on the test!

4. Take the test.  My strategy is simple: I take the test four days after I pay for the course. Because I have already gone through the material at the gym, I allocate two hours for one final review of the modules online. At the end of that session, I take the test (By the way, it’s open book!).  Even if you are a 20-year industry veteran like myself, don’t take the test until you have read all the material! With three attempts to score 90 percent, you have none to waste.

Yes, even for me, hitting the “grade now” button is a little unnerving, but then the passing grade comes.  I will print out my certificate with a sense of satisfaction knowing that one major part of the process is complete.  I can’t celebrate too much as there’s still much work to do when it comes to senior insurance sales.

Agents who subscribe to The Agent’s Advantage can save $50 off their 2016 AHIP certification. Click here to learn more about this offer and how to get your entire AHIP cost reimbursed by RB Insurance when you make five Medicare Advantage sales.

Take the fast-track for senior insurance sales success

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We’re rolling out our fast-track appointment application just in time for the 2016 senior insurance sales season. So what is it?

It’s simple: Our fast-track application is up to 22 different appointment applications in one. We’ve gone through each of our carrier partners’ appointment processes and combined them as much as possible to substantially reduce the amount of time and toil it takes for you to build a compelling portfolio of senior insurance products.

Why complete up to 300 total pages of paperwork by yourself when you can fill out a fraction of that and let us make it happen for you? Offer your clients a choice between multiple carriers for Medicare Advantage, Medicare Supplement, Hospital Indemnity and Final Expense without getting a migraine.

We estimate our fast-track application saves agents up to six hours of time that could be better spent marketing themselves at educational or sales events or at appointments they’ve scheduled through our Medicare Sales Engine if they were looking to appoint with just our top carriers.

You will still need to go through certification for MA plans in order to be Ready To Sell, but we have worked hard to eliminate the hassles of representing new carriers so you can focus on taking care of your clients.

AHIP 2016 is here. Start planning your successful senior insurance sales season now with RB Insurance by calling (800) 997 3107 or emailing me to learn more about our most competitive carrier products available in your target markets.

Seize the Medicare sales season starting now

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America’s Health Insurance Plans (AHIP) will release their annual Medicare training modules June 22nd for the 2016 sales season. I’ve been involved with Medicare since 1996, so I’m proud to say this will be my 20th campaign as a successful senior insurance advisor!

AHIP has gone through many changes in the past two decades, but one thing that has never changed is the great opportunity waiting for agents who will take it.

October 15 will be here before we all know it, and while some agents will be ready to maximize its great opportunity, others will not. That’s why you should seize the Medicare sales season starting now.

If you’re a new agent, AHIP and everything else an agent needs to take care of before AEP can be daunting.  However, I can tell you personally that the career satisfaction and earning possibilities through lifetime renewals far outweigh the effort you will expend.

Whether this is your first AEP or your 20th, your most precious asset is time.

How can you make the most of it? Make a plan and take action.

Planning is vital to sales success during AEP and beyond it if you are looking to sell year-round. Multiple to-do’s will be competing for your time and energy, so having an outlined process is critical.

If you’re a seasoned agent working the Medicare Advantage market, then you already know the drill that is the Annual Enrollment Period, the legally designated sales period for Medicare Advantage. You need to complete AHIP certification, complete various carrier trainings and Continuing Education for licensing; read up on new products to stay current and keep revenue flowing in; do member outreach and education to make sure you don’t lose current clients; engage in CMS-compliant marketing strategies to find new clients and continue to add to your portfolio of products to maximize cross-selling activities.

Phew!

You can adapt my personal outline below to your specific business approach:

  • Begin your AHIP certification the moment it becomes available.  It will help you get through most other carrier certifications faster. with less time involved.
  • Complete carrier’s certifications and live trainings as soon they are made available, too.
  • Prepare your Annual Review Letter for an October mailing to your clients (I’ll be posting more about this soon!)
  • Conduct plan reviews to identify the strongest in your market.
  • Identify your mentor. Who will turn to when questions pop up while you’re in the field?

After you have created your plan you must take action.  Make each step simple so you still have time for all your other daily activities.  For example, you can do one AHIP training module a day and finish the test by the end of the week. Getting an early start leaves enough time for effort without rushing.  It will help you feel organized, which just might keep you from getting frustrated or overwhelmend.

Whatever you decide to do — and how — do not procrastinate.

That simple advice is also the hardest to do, but understand the sales season means nothing if you are not Ready To Sell!

Will you be ready?

Medicare enrollment is mostly a matter of time

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I’m not about to tell you the senior market is set to explode as 10,000 Baby Boomers turn 65 every day in this country because I’m sure you’ve already gotten word by now. Instead, I want to remind experienced agents or those just getting started in this market that it’s mostly a matter of timing for seniors when it comes to getting the most out of Medicare.

You can strengthen your business as an agent by helping your prospective clients navigate the complex Medicare enrollment schedule. If seniors enroll without knowing about possible penalties, their decision could literally cost them for the rest of their lives.

Let your turning-65 clients know there may be penalties for not enrolling in Medicare Parts B and D.

Medicare Enrollment is a matter of time

Most seniors and agents aren’t aware Medicare enrollment is sensitive to time. In fact, the program will only let you know you are eligible to enroll if you are already on Social Security. If a senior waits until full retirement age to enroll in Medicare, he or she will probably owe a late enrollment penalty for the rest of his or her life. And as the full retirement age for Social Security inches past 65, the penalty increases, too.

If a senior does not sign up for Medicare during his or her predetermined seven-month open enrollment period, he or she has to pay a 10 percent annual penalty on the Medicare Part B premium along with a one-percent monthly penalty for Medicare Part D for every month without coverage. The good news is the penalty does not apply as long as you have some sort of credible coverage to give you a  special enrollment period to enroll into Medicare Part B with no penalty.

Not everything counts as credible coverage, either. Group coverage based on current employment does count, for example, but a group retiree plan does not. COBRA coverage doesn’t count either. Perhaps to add insult to injury, seniors have to wait until the general enrollment period (January 1 to March 31) to sign up for Medicare, then wait until July 1 to actually use the coverage.

I’ll give you an example of how these penalties might sneak up on seniors and agents:

I have an 83-year-old-client whose husband passed away on April 19. Her group retiree coverage ended on May 20. She told me that because her group retirement plan had great coverage, she never signed up for Part B. I was sure I heard wrong when she informed me she wasn’t eligible for a special enrollment period, but she was right.

When I called Social Security myself to find out why, I was told that a SEP is based on current employment — retiree coverage doesn’t count. My client has Medicare Part A, but won’t be able to enroll in Part B for over a year. I enrolled her into a Part D plan, and Medicare didn’t charge her a late enrollment penalty since she had credible coverage. But Medicare won’t budge on her Part B coverage. One worker even told her that she would have to pay the penalty for not signing up back in 1999, when she first turned 65!

Here is the real kicker though, the retiree group coverage was through the Federal Employees Blue Cross Blue Shield plan and they have provided no assistance whatsoever.

The best advice you can pass along to your clients is: Enroll in Medicare Parts A and B when you first turn 65. If you aren’t drawing Social Security, you can pay your part B premium on a quarterly basis. You will have to sign up within your seven-month open enrollment window. Part D has a stiffer penalty, but at least you have the same enrollment window.

As well all know, the good news with Part D is its Medicare enrollment period is October 15  to Dec 7 with coverage starting January 1.

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