Posts

Video: RBI Carrier Hall of Fame Week 3

Video: RBI Carrier Hall of Fame Week 3 (ICYMI)

Hey, you! We’re back again! As you know, this whole month we’re bringing you the scoop on our RBI Carrier-Partners with “Carrier Spring Training” month! It’s been a great month so far (we’ve definitely learned new things every day!) and we cannot believe that next week is our last week! The time certainly has flown by. If you missed the webinars this week and don’t have time to re-watch them, here’s the RBI sales team to break down the highlights of each carrier, and what they do for your portfolio. Watch the videos below: RBI Carrier Hall of Fame Week 3!

To start things off this week, we heard from Mutual of Omaha, on Monday! Then Tuesday, we had a webinar from GTL or Guarantee Trust Life, followed by RBI’s own Quoting Tool on Wednesday, and wrapped up the week with a presentation on SilverScript on Thursday! Our presenters this week — thanks a million: you guys are the best! — were Ken Colvard (Mutual of Omaha and SilverScript), Greg Esposito (GTL) and Brien Welch (RBI Quoting Tool). We watched these webinars and were so impressed with the knowledge base that they bring to the table, as well as some of the great new plans available to agents and members. There was a lot to go over, so here’s the four highlight videos from this week!

RBI Carrier Training Highlights Team:

  • Mutual of Omaha by Charlie Ferrell
  • Guarantee Trust Life by James Gramp
  • RBI’s Quoting Tool by Justin Bever
  • SilverScript by Rebecca Howard


Monday, April 17, 2017 at 9 AM


Tuesday, April 18, 2017 at 9 AM


Wednesday, April 19, 2017 at 9 AM


Thursday, April 20, 2017 at 9 AM

Video: RBI Carrier Hall of Fame Week 3

Look for this symbol on all our new “Carrier Hall of Fame” videos!

When you think about these three carriers, it’s important to understand how each brings something different into your portfolio. Whether you focus on Medicare Supplements, Hospital Indemnity or PDP plans, it’s important to have products that fit well together. And not just each other, but products that will serve the needs of your clients. In addition, this week you may have noticed a bit of a technology theme developing. Each carrier this week has a focus on making your life as an agent easier with online enrollments. And RBI’s quoting tool fits right into this theme. If you aren’t taking advantage of the technology and tools available to you at RBI, now is the time!

Watch the recording: Mutual of Omaha. Watch the recording: Guarantee Trust Life. Watch the recording: RBI Quote Tool. Watch the recording: SilverScript.

Click here to get contracted. Click here to see all our contracted carriers.

Sign up for the next webinars today! Click here to see the full calendar.

  • Monday, April 24 at 9 AM MST/12 PM EDT – “Hit a Fastball with Molina” Register
  • Tuesday, April 25 at 9 AM MST/12 PM EDT – “Be a Power Hitter with Cigna” Register
  • Wednesday, April 26 at 9 AM MST/12 PM EDT – “Be a Clean-up Hitter with Gateway” Register
  • Wednesday, April 26 at 10:30 AM MST/12:30 PM CDT – “Pitch a Shut-Out with Blue Cross Blue Shield of Texas” Register
  • Thursday, April 27 at 9 AM MST/12 PM MST – “Be a Hometown Slugger with Harbor Health Plan” Register
  • Thursday, April 27 at 10 AM MST/12 PM CDT – “Load the Bases with Allegian” Register

Subscribe to the RBI Agent’s Advantage Blog today!

Did you miss last week’s webinars? Watch the full recording: Aetna. Watch the full recording: United Healthcare. Watch the full recording: Humana.


All videos are for agent use only.



2018 certification prep
Stay Focused on Earning Money

Video: RBI Carrier Hall of Fame Week 3

Video: RBI Carrier Hall of Fame Week 3 (ICYMI)

Hey, you! We’re back again! As you know, this whole month we’re bringing you the scoop on our RBI Carrier-Partners with “Carrier Spring Training” month! It’s been a great month so far (we’ve definitely learned new things every day!) and we cannot believe that next week is our last week! The time certainly has flown by. If you missed the webinars this week and don’t have time to re-watch them, here’s the RBI sales team to break down the highlights of each carrier, and what they do for your portfolio. Watch the videos below: RBI Carrier Hall of Fame Week 3!

To start things off this week, we heard from Mutual of Omaha, on Monday! Then Tuesday, we had a webinar from GTL or Guarantee Trust Life, followed by RBI’s own Quoting Tool on Wednesday, and wrapped up the week with a presentation on SilverScript on Thursday! Our presenters this week — thanks a million: you guys are the best! — were Ken Colvard (Mutual of Omaha and SilverScript), Greg Esposito (GTL) and Brien Welch (RBI Quoting Tool). We watched these webinars and were so impressed with the knowledge base that they bring to the table, as well as some of the great new plans available to agents and members. There was a lot to go over, so here’s the four highlight videos from this week!

RBI Carrier Training Highlights Team:

  • Mutual of Omaha by Charlie Ferrell
  • Guarantee Trust Life by James Gramp
  • RBI’s Quoting Tool by Justin Bever
  • SilverScript by Rebecca Howard


Monday, April 17, 2017 at 9 AM


Tuesday, April 18, 2017 at 9 AM


Wednesday, April 19, 2017 at 9 AM


Thursday, April 20, 2017 at 9 AM

Video: RBI Carrier Hall of Fame Week 3

Look for this symbol on all our new “Carrier Hall of Fame” videos!

When you think about these three carriers, it’s important to understand how each brings something different into your portfolio. Whether you focus on Medicare Supplements, Hospital Indemnity or PDP plans, it’s important to have products that fit well together. And not just each other, but products that will serve the needs of your clients. In addition, this week you may have noticed a bit of a technology theme developing. Each carrier this week has a focus on making your life as an agent easier with online enrollments. And RBI’s quoting tool fits right into this theme. If you aren’t taking advantage of the technology and tools available to you at RBI, now is the time!

Watch the recording: Mutual of Omaha. Watch the recording: Guarantee Trust Life. Watch the recording: RBI Quote Tool. Watch the recording: SilverScript.

Click here to get contracted. Click here to see all our contracted carriers.

Sign up for the next webinars today! Click here to see the full calendar.

  • Monday, April 24 at 9 AM MST/12 PM EDT – “Hit a Fastball with Molina” Register
  • Tuesday, April 25 at 9 AM MST/12 PM EDT – “Be a Power Hitter with Cigna” Register
  • Wednesday, April 26 at 9 AM MST/12 PM EDT – “Be a Clean-up Hitter with Gateway” Register
  • Wednesday, April 26 at 10:30 AM MST/12:30 PM CDT – “Pitch a Shut-Out with Blue Cross Blue Shield of Texas” Register
  • Thursday, April 27 at 9 AM MST/12 PM MST – “Be a Hometown Slugger with Harbor Health Plan” Register
  • Thursday, April 27 at 10 AM MST/12 PM CDT – “Load the Bases with Allegian” Register

Subscribe to the RBI Agent’s Advantage Blog today!

Did you miss last week’s webinars? Watch the full recording: Aetna. Watch the full recording: United Healthcare. Watch the full recording: Humana.


All videos are for agent use only.



2018 certification prep
Stay Focused on Earning Money

Video: RBI Carrier Hall of Fame Week 2

Video: RBI Carrier Hall of Fame Week 2 (ICYMI)

So if you’ve been following along this week on all our emails and event calendar, you know that April is “Carrier Spring Training” month! We are so excited for this new initiative, and just finished up our second week of webinars! But if you missed these webinars and don’t have time to re-watch them, here’s the RBI sales team to break down the highlights of each carrier, and what they do for your portfolio. Watch the video below: RBI Carrier Hall of Fame Week 2!

This week, we collaborated with Aetna, Humana, and United Healthcare. A huge shout-out to our presenters, Daniel Santos (Aetna), Kirk Sanich (Humana), and our own Charlie Ferrell stepping in for Ken Colvard (United Healthcare), who did a fantastic job showcasing their products and what makes them compelling for members.

RBI Carrier Training Highlights:

  • Aetna by Rebecca Howard
  • Humana by James Gramp
  • United Healthcare by Charlie Ferrell
Video: RBI Carrier Hall of Fame Week 2

Look for this symbol on all our new “Carrier Hall of Fame” videos!

The RBI bottom line is that all three of these carriers offer something different and that they work together nicely to fill out your portfolio as a senior insurance advisor. We recommend that you contract with all three today because everyone is different and it’s important to have the products that fit the needs of your clients.

Watch the recording: Aetna Webinar. Watch the recording: Humana Webinar. Watch the recording: United Healthcare Webinar.

Click here to get contracted. Click here to see all our contracted carriers.

Sign up for next week’s webinars today!

  • Monday, April 17 at 9 AM MST/12 PM EDT“Hit a Homer with Mutual of Omaha” Register.
  • Tuesday, April 18 at 9 AM MST/12 PM EDT“Steal Second with GTL” Register.
  • Wednesday, April 19 at 9 AM MST/12 PM EDT“Bat 1.000 with RBI’s Quoting Tool” Register.
  • Thursday, April 20 at 9 AM MST/12 PM EDT“Out of the Ballpark with SilverScript” Register.

Subscribe to the the RBI Agent’s Advantage Blog today

Did you miss last week’s webinars? Watch the full recording: American Continental Webinar. Watch the full recording: Equitable webinar. Watch the full recording: Medico webinar.


All videos are for agent use only.




Aetna certification
2019 Humana certification
Short Term Home Health Care

Video: Mastering Hospital Indemnity Roll-Up

Did you miss a Webinar Wednesday? Check out our Mastering Hospital Indemnity Roll-up below!



This week, we focused on Hospital Indemnity: so here is Charlie Ferrell, in our Mastering Hospital Indemnity Roll-up! But first, here’s a quick summary:

Are your clients struggling to pay for a hospitalization, chemotherapy or skilled nursing? Hospital Indemnity is the answer, especially relevant for those struggling to cover the financial gaps in traditional Medicare Advantage. A hospital stay comes with ancillary costs that are a burden to many Medicare Advantage clients. Hospital Indemnity works as cash-in-hand for these clients, and provides the peace of mind they need! Watch below for a 60 Second Roll-up of the details!

Hospital Indemnity Roll-up

Look for this symbol on all our new “60 Second Roll-Up” videos!

Register here to watch the full recording of the “Mastering Hospital Indemnity” webinar. For other great tips on why you should pick up a Hospital Indemnity product, or how to sell Hospital Indemnity, subscribe to our blog!

RBI has a number of great Hospital Indemnity carriers that we work with, including Equitable, Medico, as well as GTL.  If you would like to pick up a carrier, please click here for contracting information, or call our office at 1-800-997-3107.

Sales Champion Summit
Senior Insurance Acronyms
2018 Anthem Certification
2018 Amerigroup Certification
Cigna-Healthspring Sanctions Lifted

Think Outside the Box: Hospital Indemnity for ACA Clients

Here at RBI, we are using the month of January to focus our thinking outside the standard AEP-box, with lots of training and materials to increase your sales. Earlier this week we heard from Tom O’Neil with a closer look at Hospital Indemnity products, with a highlight on Guarantee Trust Life (GTL). But there’s more to Hospital Indemnity.  Let’s go deeper.

Why Hospital Indemnity for ACA clients?

Young Indemnity Couple

Some carriers have very affordable options for people under age 65.

As senior insurance agents, we often don’t think about folks in the age group under age 65. These folks are “young people,” and therefore usually outside our focus.  But many are struggling with health plans under the Affordable Care Act that feature high deductibles and out of pocket expenses. These folks are looking for alternatives.  And if you have a Hospital Indemnity product, like GTL, Medico, or Equitable, these clients could actually be a gold mine.

Hospital Indemnity is a great gap product for people in this age group. Most of the time, Hospital Indemnity carriers have very affordable options for people under age 65, often as low as $30-40.  Furthermore, most clients would be willing to pay this monthly premium, just so that they are protected from getting hit by a high deductible payment if they needed to visit the hospital.  In my opinion, overlooking this demographic is the same as leaving money on the table.

Where to find these clients

The best way of reaching this type of client is to talk about what you do.  For example, I actually got a client during AEP simply from wearing my button down shirt with my business logo on it.  A gentleman at the next gas pump asked me about it, and before you knew it, he asked for a business card. When the time was right, he called me up and I was able to get him enrolled in a plan that fit his needs.  Agents tend to minimize their experience and ignore the people around them every day. People who know you, people who you meet in your daily life, have no idea what you do. Spend 3 minutes with these people, tell them exactly what it is that you do, hand them a business card.  It will be the least expensive lead you ever have.

Brand Package Image

RBI can help you update your business cards and more!

 RBI can help you get started with Hospital Indemnity for ACA clients

We can help you plan out your approach to getting into Hospital Indemnity products. If you are thinking, “well, I don’t have a Hospital Indemnity plan,” contact RBI at 1-800-997-3107 for information about contracting with carriers in your area. RBI works with a great design team who can help you updateyour business cards, letterhead and so on, at discounted prices.  Above all, get comfortable talking about your own expertise, and practice your elevator speech.  I know you’ll see results.

Keep an eye on our event calendar for great webinars and in-person events to up the ante with your business this year! Click here to see full details.

Hospital Indemnity Earn $2k on Take Action Tuesdays

hospital indemnity

Hospital Indemnity – Take Action Tuesday: weekly action items to build a stronger business



POST AEP BLUES? — HERE IS A QUICK $2K IDEA FOR FEBRUARY!

Senior Agent Contributor: Tom O’Neil

Note from the Author: While most of this blog post is a product of my gray matter, I will borrow shamelessly some content from RBI’s Charlie Ferrell, our National Sales Manager.  He has some great insights into our business, surely developed when I was training him as a young pup new agent many years ago!


Now that AEP is over, we enter into the MAPD world of reduced commission advances for the next 11 months.  What is a good way to keep up the cash flow?  What about the business you left on the table with your turning-65 new-to-Medicare clients? Hospital Indemnity plans offer good commissions for agents year-around, and a unique opportunity for all those T-65’s you enrolled going back for the last 5 or so months.

Drop the excuses and sell Hospital Indemnity

Hospital Indemnity Image

Agents often tell me that Hospital Indemnity plans are too hard to sell, their clients are broke, underwriting is difficult, the clients enrolled in a supplement and so have no need for Hospital Indemnity, yada, yada.  GTL (Guarantee Trust Life) has the cure.  They offer guaranteed issue status to all applicants ages 64 ½ to 65 ½.  How do you beat that?  GTL may be a perfect fit for your MAPD clients who can afford a $40 or $50 premium.  If you sold a supplement to a client who is still working, GTL can provide some loss of income protection for days spent in the hospital as well.

Have a new client in the age range 64 ½ to 65 ½ who anticipates a hospital stay later in the year?  This plan is a slam dunk.  Yes, there is a 6-month pre-existing condition clause.  Accidents covered at issue, of course.

In my state, Arizona, GTL’s Hospital Indemnity plan pays around 50% commission for the first year, with a 9-month advance.  Let’s do the math.  My last guaranteed issue GTL application with a $39 monthly premium was submitted online on a Monday, and the approximately $200 advance was in my bank account on Thursday.

Start with Existing Clients

Okay, so where do I get the $2K teaser in the blog title?  I am guessing that any busy agent that goes over the last 5 months of enrollments will be able to find at least 10 clients that fall into the guaranteed issue age range.  Reach out to these clients about the benefits of having Hospital Indemnity coverage. Don’t stop there.  The fully underwritten GTL can also be a gold mine.  They have an easy “yes” or “no” online app, as well as a paper app.  One of our top agents estimated that about 70% of his clients pass underwriting easily.

One of the best Hospital Indemnity training videos I have seen was produced by Bill Ellsworth, VP of Equitable. It is available on Equitable’s broker page as well as on YouTube. Check it out to get started on training.

For those agents working in areas where GTL is not available, of course, we also offer contracts for Equitable, Medico and other Hospital Indemnity plans with more traditional underwriting.  If you do not have a Hospital Indemnity contract in your portfolio, or to request a specific market analysis for your area, give RBI a call at 800-997-3107 and talk to Charlie about these great products and how to present them.

Join Charlie Ferrell for a introduction to Hospital Indemnity with RBI’s Webinar Wednesday topic for January 18: “Mastering Hospital Indemnity!” Register now!

Upcoming Events:

Introducing Equitable’s Bill Ellsworth

Bill Ellsworth is the VP of Heartland National Life Insurance Company and has been in the insurance industry for more than 32 years. Bill will be with us on April 21st showing us how to use the Equitable portfolio of products.Equitable pt 2

For 80 years Equitable Life & Casualty has provided top-notch Life and Health insurance plans to senior Americans, backed by the unmatched fast, friendly personalized service that is the hallmark of our company. Our product portfolio primarily includes Whole Life insurance plans, Medicare Supplements, Specified Disease, Hospital Indemnity coverages. We provide innovative products and services, along with rapid and hassle-free ways for customers to do business with us, which in turn promotes greater financial security and peace of mind for our policyowners and their loved ones.

In December 2008, Heartland National Life entered a strategic agreement with Equitable to provide administrative services and re-insurance for Heartland National Life. Equitable currently has a great portfolio of products and Bill will be sharing all of the secrets to selling their great line up.

For more information on how to get contracted with Equitable and other indemnity products contact us at contracting@rbi-group.com or give us a call at 1-(800) 997-3107

An Equitable Webinar Invitation

Join us on Thursday, April 21st at 10:00 am (MST) for a webinar about how to sell Equitable’s portfolio of products presented by Bill Ellsworth.

Increase Your Cash Flow with Hospital Indemnity plans

As the National Sales Manager, I have spent countless hours on the road, teaching agents, conducting training sessions, and hosting recruiting events. I have realized that, no matter how diverse my audiences may be, certain things are universal- such as the unmistakable way my audience’s eyes glaze over as soon as I mention Hospital Indemnity plans. Most agents understand Indemnity plans in theory. They also agree that it is important to include a variety of ancillary products in their portfolio. But when it comes down to it, the majority of agents do notHospital Building bother to pitch Indemnity plans to their clients. Whether they don’t fully recognize the value, or the flat out don’t know how to sell it- RBI is here to help!

“Never leave money sitting on the table.” The old sales adage rings true. If you are not selling your clients an indemnity policy to complement their low-premium Medicare Advantage plan, that is EXACTLY what you are doing! Indemnity plans are extremely affordable, and you will quickly become your client’s hero once he or she experiences the benefits after that first hospital visit.

The primary concern of my Medicare Advantage clients is often, “How on earth will I pay for a hospital stay?!” I have also had several clients who grew frustrated with the high cost of Medicare Supplements, yet were afraid to switch to Medicare Advantage with their higher Hospital co-pays.. In either case, my solution was to enroll them into a low-premium (or no-premium) Medicare Advantage plan, along with a hospital indemnity plan for added coverage.

I never sign up a client for the “bare minimum.” It is better to have more coverage and not need it – than to not have it when you need it! Hospital costs continue to rise, and insurance plans evolve, but the health of my clients is generally not improving. I make sure to cover them for a hospital stay a little above and beyond the current hospital copay amounts. I do this because if a higher amount of coverage is needed at a later time, chances are they probably will not be healthy enough to pass the underwriting necessary to increase coverage. So far, not one of my clients has turned down the extra money they received from filing a claim.
RBI offers agents a variety of ancillary product carriers- GTL, Equitable, American Continental and Medico. GTL’s Advantage Plus plan is the only plan with a guaranteed issue period for ages 64 ½ to 65 ½. Bill Ellsworth, Vice President of Equitable, recorded an excellent presentation last year on how to sell hospital indemnity during a Medicare Advantage appointment. Frankly, it is probably the best training example I have ever seen, and I strongly recommend all Equitable agents seek it out on the Equiline broker site. Following Bill’s outline, I am confident you will be able to increase your commissions throughout the year.

Health products are the only products you can discuss during a Medicare appointment. You must make sure your client understands the need as you make your presentation. Show them the holes in their current plan, then fill it with an indemnity policy. All of the indemnity products can be cross-sold during an MA appointment. There is even a “Hospital Indemnity Plan” checkbox on the generic CMS-approved Scope of Appointment form most of us already use.

An Indemnity Webinar Invitation

Join us on Thursday, April 7th at 10:00 am (MST) for a webinar about how to cross sell indemnity products year round to protect your clients and increase your commissions. This is particularly important since carriers are now prorating all MA commissions other than a person that is new to Medicare.

 

 

 

Don’t leave money on the table this AEP: Sell Hospital Indemnity with Medicare Advantage

My first insurance sales trainer loved to tell me, “Don’t leave money on the table.” When it comes to coupling hospital indemnity plans with Medicare Advantage, his advice resonates a little louder. Hospital indemnity plans are very affordable for your clients and pay excellent first-year commissions, often in the 50 percent range (Of course, commission varies by states).

Most hospital indemnity plans offer inpatient confinement benefits ranging from $100 to $600 as well as an ER benefit. Depending on the carrier, optional features include benefits for skilled nursing facility days, follow-up appointments, outpatient surgery and even payment for the dreaded observation status. A cancer rider is an important option you can review with clients when discussing hospital indemnity.

Guarantee Trust Life, Equitable and Medico are carriers we are proud to affiliate with and offer to our agents. Just click on our Carriers page for more information or contact us at the number below. For those of you who concentrate on the T-65 market, note that GTL’s Advantage Plus plan is guaranteed issue for ages 64 ½ to 65 ½.

Bill Ellsworth, VP of Equitable, recorded an excellent presentation last year on how to give a good explanation of hospital indemnity during a Medicare Advantage appointment. Frankly, it’s the best training example I’ve seen, and I refer all of our Equitable agents to Bill’s training located on the password-protected Equiline.com broker site. My contact information is below if you’re an Equitable agent and are interested in learning more about Bill’s winning presentation.

In fact, Bill came out to our Arizona office last year to give us additional pointers on presenting Equitable’s EquiCash product. He definitely made me a believer. If you follow Bill’s outline, you should be able to double your MA commission for a surprisingly large number of your AEP and Lock-In appointments.

Cross selling you say! Presenting a hospital indemnity plan with a Medicare Advantage plan is totally compliant with the Medicare Marketing Guidelines.
Hospital indemnity plans are right there on the Scope of Appointment form. If the CMS-approved Scope form you are using does not list hospital indemnity, Medicare Supplements and DVH products, I’ll be glad to email you a copy.

Finally, don’t forget the younger members of the household. Many of these hospital plans are offered from 40-80 years of age. They’re particularly reasonable for the younger folks and can really help fill in those hefty ACA deductibles. Just remember that hospital indemnity coverage is not minimum essential coverage.

For contracting opportunities with GTL, Medico and Equitable, and to receive more useful training content, call RB Insurance at (800) 997 3107 or email me.

Advise your client on hospital observation stays

Say your Medicare Advantage client goes to the local emergency room with a rapid heart beat and shortness of breath. After triage, the attending ER physician advises her to remain in the hospital for a while so he can make sure she’s stable. For two and a half days, your client is attended to by nurses, administered meds and served meals in her hospital bed. After this period of care the physician determines she is fine and ready for discharge.

Then comes the surprise: When the bill comes, she sees her status is “Under Observation.” The outpatient (Medicare Part B) hospital services benefit of her MA plan averages about a 20 percent patient responsibility versus an inpatient (Medicare Part A) status, which would only incur two days of the plan’s set daily copay. She may have not been expecting to pay the amount she has to because of her observation status.

Do your Medicare Advantage clients understand the “Under Observation” hospital status? Did you discuss the term during your appointment? If your client calls Medicare or the carrier’s customer service department stating she was “never advised of such a thing,” you may be risking a complaint being registered against you in the CMS Complaint Tracking Module (CTM).

Letting your client know about observation status in the event of hospitalization can help him or her avoid surprise and disappointment. Visit RBI’s Carriers page to discover Hospital Indemnity products, which can cover the cost of observation stays. Image courtesy of iStock

Another challenge can arise for your MA client regarding any medications she was administered during her observation stay. Under a full admission status, her drugs would usually be covered under her Part A hospital benefit; that’s not so if she is Under Observation. Medicare Part D may cover some of the costs, but it’s likely she will be responsible a majority of these outpatient medication charges.

Even your clients on a Medicare Supplement Plan F can run into problems with the observation status.

While Plan F will likely cover 100 percent of the Part B charges for observation status, other complications can arise if the patient is transferred to a skilled nursing facility. If the patient is under observation status, he or she will not meet the Medicare Fee-For-Service required three-day inpatient scenario that triggers a covered stay in a skilled nursing facility, potentially resulting in thousands of dollars in uncovered services.

Take care of your clients and avoid risking your reputation by advising your clients on hospital observation status. RB Insurance’s Hospital Indemnity carriers now cover observation stays in the same manner as fully admitted days — click on the Indemnity Products tab on our Carriers page to learn more about immediate contracting opportunities. And for a more detailed presentation regarding observation status, see this AARP article on the subject

RB Insurance-affiliated Agents can call (800) 997 3107 or email me to schedule a special training session that will help you avoid the pitfalls of observation status. Like my post? Simply subscribe to receive a few more, once a week in your Inbox.

Hospital indemnity coverage is not minimum essential coverage

Hospital indemnity plans, often referred to as HI, have become a valuable add-on for many Medicare beneficiaries. With Medicare Advantage plans’ increasing copays and coshares, these HI options can be a relatively inexpensive solution for your senior clients. Yet seniors are not the only ones who can benefit from HI — you have the opportunity to sell these plans to younger prospects who are not eligible for Medicare.

Your non-Medicare clients may also benefit from a hospital indemnity plan. Just make sure clients have a health plan that fits minimum essential coverage requirements before you write. (Image courtesy of iStock)

Make sure your non-Medicare client is enrolled in a health plan that meets the minimum essential coverage guidelines as defined in the Affordable Care Act (ACA) before you write. All Medicare clients enrolled in Medicare Part A or who have a Medicare Advantage (Part C) plan are deemed to have minimum essential coverage. The on-exchange and off-exchange ACA plans also meet the guidelines, as do most of today’s employee group plans and a limited number of other health plan types.

If your non-Medicare client does not have a plan that complies with the minimum essential coverage guidelines, you should not write him or her a hospital indemnity plan. The carrier will most likely not issue the policy, which would result in a declined application and a disappointed client. An explanation of CMS’ regulation and guidance on the matter is available — start at page 54 after clicking on the link.

RB Insurance works with numerous carriers offering Hospital Indemnity coverage, including GTL, Equitable, Medico and others. Visit our Carriers page to find immediate contracting opportunities.

RB Insurance-affiliated agents can explore the excellent commissions HI can generate with our available online training and one-on-one training. Call (800) 997 3107 or email me for more information.

Click here to get our agent’s original content once a week by email.