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Senior Insurance Acronyms for New Medicare Brokers

Senior Insurance Acronyms


RBI’s Senior Sales Coordinator: James Gramp

About the Author: With his signature common sense, quiet good humor, and brilliant customer service, Jim is an integral part of the RBI team — we’d go so far as to say we’d be lost without him! An Arizona native, Jim manages agent relationships for the East Coast and specializes in the RBI agent tools, especially the Agent Market Edge. Jim has been a licensed health insurance agent for 2 years, and has worked at RBI for almost 3 years. An accomplished bassoonist, he is known around the office for his amazing musical skills. In addition to keeping busy around the office, Jim frequently contributes to our blog, bringing a new agent’s perspective to the RBI online presence.

Senior Insurance Acronyms

for New Medicare Brokers

Compiled by RBI’s Senior Sales Coordinator: James Gramp


Are you a newly licensed Health producer?  Can’t wrap your head around the seemingly endless list of Senior Insurance Acronyms? Look no further!  This post is just for you, a new agent who’s looking to get started in the Senior Health Insurance (Medicare) market.

Consider your options: Best Contracting Partners

A few things before we jump in that you should be thinking about when choosing to work with an agency or contract directly with the insurance company:

  1. Do new agents receive training opportunities?
  2. Does marketing support come with the contract?
  3. Are the most competitive products in my area available with this partner?
  4. Does this partnership include CRM systems or other tools to keep track of your clients and potential clients?

The bottom line is, your FMO should work for you.  In the post I just linked to, Justin Bever, our Director of Marketing, highlights exactly how your FMO should work for you and ultimately help you reach and exceed your business goals!

Without further ado, I present you with the ultimate abbreviation cheat sheet!

Senior Insurance Acronyms for New Medicare Brokers:

MA – Medicare Advantage

MAPD – Medicare Advantage Prescription Drug plan

HI – Hospital Indemnity

FE – Final Expense

SOA – Scope of Appointment form: Permission slip to talk to beneficiaries who aren’t already your clients about specific benefits of MA plans.  The SOA should be signed by the beneficiary 48 hours prior to appointment.

HMO – Health Maintenance Organization: Type of Health plan, must use plan doctors for covered services.  Members are assigned a Primary Care Physicians and require referrals to see Specialists (dermatologists, cardiologists, etc.)

PPO – Preferred Provider Organization:  Type of Health plan where members can go out of network for care.  Going to in-network providers offers better co-pays/co-insurance

PFFS – Private Fee For Service: type of MA plan that may or may not cover prescriptions.  Only MA plan that you can buy a stand-alone PDP as long as the PFFS doesn’t already cover prescriptions.

SNP – Special Needs Plan: Medicare Health plans for people with special needs.  There are 3 different kinds of SNP’s; I-SNP, D-SNP, and C-SNP.

I-SNP – Institutional Special Needs Plan: plan for beneficiaries needing treatment from a LTC facility for more than 90 consecutive days.

D-SNP – Dual Special Needs Plan: Designed for people with Medicare and Medicaid

C-SNP – Chronic Special Needs Plan: Designed for people with chronic health conditions

Med-supp/Medigap – Medicare Supplement: offers plans A through N.  These plans are standardized and offer the same benefits regardless of carrier.

PDP – Prescription Drug Plan: Rx coverage, typically sold with Medicare Supplements.

LIS – Low Income Subsidy: Federal program to help with Rx costs.  Need to make under 150% of the Federal Poverty Level to qualify.

MSP – Medicare Savings Program: Federal program designed to help with premiums, co-pays, and co-insurance. Different levels of help are: QMB, SLMB, QI-1. Make under 135% of the FPL to qualify.

AHIP – America’s Health Insurance Plans: company that provides the core medicare certification required to sell Medicare Advantage plans.

AEP – Annual Enrollment Period: 10/7 through 12/7, period when Medicare beneficiaries can enroll in a MA/MAPD or a PDP.

SEP – Special Enrollment Period: period that you can enroll in an MA/PDP plan outside of AEP

IEP – Intial Enrollment Period: 3 months before, the month of, and 3 months after your 65th birthday.  Can enroll in any Medicare Health Plan during this time.

OEP – Open Enrollment Period for Medicare Supplement: 6 months after a Medicare beneficiary is enrolled in Medicare Part B and is 65 or older.


If you’re looking for a partner to grow your new business, look no further! We love helping agents get started — whether you’re a brand new agent, or you’re getting back into the market after being away: welcome! Call us today to learn about opportunities to work together: 1-800-997-3107



2020 ahip discount certification
Medicare cost-sharing
Aetna certification

Power of the Portfolio

Join us for this Webinar Wednesday’s topic: Power of the Portfolio

If you don’t have a plan driving your carrier contracts, now’s the best time to make one!

 

Being intentional with your portfolio is a great way to cut back on stress during product certification season, as well as provide the best customer service to your clients!

 

Here’s what we’ll discuss:

  • Planning your sales cycle around product types
  • Using Final Expense and Hospital Indemnity to find leads
  • Getting the most out of your carrier relationships

 

E-Apps Refresher Course

Join Charlie Ferrell, RBI’s National Sales Manager, for this great training on October 4 at 9 AM MST/12 PM EDT “E-Apps Refresher Course!”

Here’s what we’ll cover:

  • Humana MAPA/iMAPA
  • United Healthcare LEAN 
  • Aetna Ascend
  • Cigna Express App
  • Medico MyEnroller
  • Equitable Online Express App
  • Guarantee Trust Life Medicare Supplement and Hospital Indemnity E-Apps
  • Mutual of Omaha Medicare Supplement E-App

 

To register, click the button below!

 

2018 Sales Champion Summit

Join us for the 2nd Annual Sales Champion Summit!

SAVE THE DATE!

This is a free all-day event designed to turn you into a Sales Champion! Doors open at 8:30 AM, Lunch is included.

 

Do you want to increase your production during AEP? Come join us for a great day of presentations and workshops! Meet our AEP support team, learn best practices to build your lead pipeline, and create a MAPS marketing plan to set your AEP goals!

 

Here’s what you can expect:

  • Sales Workshops – Plan your AEP using our sales techniques!
  • Technology Seminars – Learn how to leverage our industry leading technology to increase your sales
  • Want to see the full presentation line-up? Click the button below.

Exceed your expectations!  Make every sales worth more!

   

The Value of TRUST: Introduction to TRUST Training

Join Charles Ferrell, RBI’s National Sales Manager for “The Value of TRUST” — a fantastic introduction to our brand new agent training!

If you’ve been looking for a little something extra by way of sales coaching for your Medicare business, we heard your cries for help! We are very excited to be offering this new one-on-one coaching for our contracted agents!  Join us for this overview and introduction!

 

Here’s what we’ll cover:

  • What is TRUST Training?
  •  How TRUST works for you  
  •  How to get started

 

Can’t wait to begin? Click the button below to get started!

 

 

Want to give our training a try? Attend our FREE upcoming 2nd Annual Sales Champion Summit on Tuesday, August 29 from 9 AM to 4 PM! Click here for details!

 

Senior Insurance Acronyms for New Medicare Brokers

Senior Insurance Acronyms


RBI’s Senior Sales Coordinator: James Gramp

About the Author: With his signature common sense, quiet good humor, and brilliant customer service, Jim is an integral part of the RBI team — we’d go so far as to say we’d be lost without him! An Arizona native, Jim manages agent relationships for the East Coast and specializes in the RBI agent tools, especially the Agent Market Edge. Jim has been a licensed health insurance agent for 2 years, and has worked at RBI for almost 3 years. An accomplished bassoonist, he is known around the office for his amazing musical skills. In addition to keeping busy around the office, Jim frequently contributes to our blog, bringing a new agent’s perspective to the RBI online presence.

Senior Insurance Acronyms

for New Medicare Brokers

Compiled by RBI’s Senior Sales Coordinator: James Gramp


Are you a newly licensed Health producer?  Can’t wrap your head around the seemingly endless list of Senior Insurance Acronyms? Look no further!  This post is just for you, a new agent who’s looking to get started in the Senior Health Insurance (Medicare) market.

Consider your options: Best Contracting Partners

A few things before we jump in that you should be thinking about when choosing to work with an agency or contract directly with the insurance company:

  1. Do new agents receive training opportunities?
  2. Does marketing support come with the contract?
  3. Are the most competitive products in my area available with this partner?
  4. Does this partnership include CRM systems or other tools to keep track of your clients and potential clients?

The bottom line is, your FMO should work for you.  In the post I just linked to, Justin Bever, our Director of Marketing, highlights exactly how your FMO should work for you and ultimately help you reach and exceed your business goals!

Without further ado, I present you with the ultimate abbreviation cheat sheet!

Senior Insurance Acronyms for New Medicare Brokers:

MA – Medicare Advantage

MAPD – Medicare Advantage Prescription Drug plan

HI – Hospital Indemnity

FE – Final Expense

SOA – Scope of Appointment form: Permission slip to talk to beneficiaries who aren’t already your clients about specific benefits of MA plans.  The SOA should be signed by the beneficiary 48 hours prior to appointment.

HMO – Health Maintenance Organization: Type of Health plan, must use plan doctors for covered services.  Members are assigned a Primary Care Physicians and require referrals to see Specialists (dermatologists, cardiologists, etc.)

PPO – Preferred Provider Organization:  Type of Health plan where members can go out of network for care.  Going to in-network providers offers better co-pays/co-insurance

PFFS – Private Fee For Service: type of MA plan that may or may not cover prescriptions.  Only MA plan that you can buy a stand-alone PDP as long as the PFFS doesn’t already cover prescriptions.

SNP – Special Needs Plan: Medicare Health plans for people with special needs.  There are 3 different kinds of SNP’s; I-SNP, D-SNP, and C-SNP.

I-SNP – Institutional Special Needs Plan: plan for beneficiaries needing treatment from a LTC facility for more than 90 consecutive days.

D-SNP – Dual Special Needs Plan: Designed for people with Medicare and Medicaid

C-SNP – Chronic Special Needs Plan: Designed for people with chronic health conditions

Med-supp/Medigap – Medicare Supplement: offers plans A through N.  These plans are standardized and offer the same benefits regardless of carrier.

PDP – Prescription Drug Plan: Rx coverage, typically sold with Medicare Supplements.

LIS – Low Income Subsidy: Federal program to help with Rx costs.  Need to make under 150% of the Federal Poverty Level to qualify.

MSP – Medicare Savings Program: Federal program designed to help with premiums, co-pays, and co-insurance. Different levels of help are: QMB, SLMB, QI-1. Make under 135% of the FPL to qualify.

AHIP – America’s Health Insurance Plans: company that provides the core medicare certification required to sell Medicare Advantage plans.

AEP – Annual Enrollment Period: 10/7 through 12/7, period when Medicare beneficiaries can enroll in a MA/MAPD or a PDP.

SEP – Special Enrollment Period: period that you can enroll in an MA/PDP plan outside of AEP

IEP – Intial Enrollment Period: 3 months before, the month of, and 3 months after your 65th birthday.  Can enroll in any Medicare Health Plan during this time.

OEP – Open Enrollment Period for Medicare Supplement: 6 months after a Medicare beneficiary is enrolled in Medicare Part B and is 65 or older.


If you’re looking for a partner to grow your new business, look no further! We love helping agents get started — whether you’re a brand new agent, or you’re getting back into the market after being away: welcome! Call us today to learn about opportunities to work together: 1-800-997-3107



2020 ahip discount certification
Medicare cost-sharing
Aetna certification

Welcome to RBI: Your AEP Refresher on Your FMO!

Join Rebecca Howard, RBI’s Onboarding Manager, in this webinar “Welcome to RBI,” and get the update on all the fantastic benefits you can get with an RBI partnership!

Already an agent with RBI? This is a great way to learn the latest on what RBI is providing to our agents!

 

Here’s what we’ll go over:

  • Training Opportunities for RBI Agents
  • The Latest in Marketing Support 
  • Compliance Support for your Medicare Business
  • Free Tools to Streamline your Business
  • Brand-New AEP Carrier Incentives

 

Have you heard about our AHIP discount and Every 5 Sales Drive? Click here to read more.

 

Reboot: Finding Dual Eligibles

Join us for this great training — Webinar Wednesday “Reboot: Finding Dual Eligibles!”

Back by popular demand! Here’s what you’ll learn:

  • What is a Dual Eligible?
  • What are the different levels of extra help?
  • What are Medicare Sales Programs and what do they cover?
  • How to compliantly find and reach potential clients
  • How to market yourself to these potential members

After registering, you will receive a confirmation email containing information about joining the webinar.

We have other great opportunities to increase your sales!  Learn more by clicking here for the full calendar of events.

Stay focused on earning money

RB Insurance Group Managing Member: Bob Bever

Bob is the managing member of RB Insurance Group, LLC, an FMO based in Arizona, specializing in providing senior insurance agents with family-style customer service, without sacrificing the tools and resources of a much larger corporation. Bob is an expert in direct sales and leadership, and a proud 4th generation Arizona Native! Bob has over 35+ years of experience in the health insurance industry, and his past experience includes working as a field agent for Intergroup, Health Net, Cigna and Farmers. Since 1978 when Bob first got licensed as an insurance agent, to now, his focus has been on bringing excellence to the senior health insurance industry. Bob has a heart for seniors, and his no-nonsense approach and dry humor have endeared him to the clients and the agents he works with. Bob is semi-retired now, but his values of hard work, a positive attitude, and being an advocate for the needs of his clients continue to be the guiding principles of RBI.

Stay Focused on Earning Money

RBI’s Managing Member, Bob Bever


At the beginning of the year, we talked about how to set realistic goals for the year, and how to make sure your opportunities from AEP didn’t slip away.  If you’ve been dedicated about working hard on your plan this whole time, chances are you’re getting a little worn-out. Not to mention, this time of year brings its own set of challenges. There’s so much sunshine and good weather all around, and fun events like graduations, vacations, baseball games, etc. Human nature being what it is, it’s easy to get busy on the things that don’t actually make you money. Everyone needs a break to get your motivation back, but be careful not to get caught up in the day-to-day of summer fun and forget to check in on your goals. Pull out the list from the first of the year every week and evaluate how you’re doing. Do you need to get back on track?

Stay focused on earning money

stay focused on earning money

This time of year is full of great activities, but stay focused on earning money!

My advice for this time of year is simple: return to the basics.  For those agents that work in the senior insurance market and are not “hobbyists,” you should be spending half to two-thirds of your time in your business. That’s between 30 to 40 hours of your week on work time. And there’s plenty to do this time of year.

Stay in touch with your clients

Don’t forget to be making an effort to stay in contact with your existing clients, whether through a friendly phone call, or a postcard. Your clients are your primary source for new business so be sure to take very good care of them, and ask them to refer others to you as well.  9 times out of 10 the hottest leads you get are referrals from someone the beneficiary trusts.  Over time, this will secure your future for years to come, I can assure you.

Look over your portfolio

Evaluate your contracts, make sure you’ve got all the plans that are competitive in your market. Do you have all the product training that you need to serve your members?

Look for new opportunities

Stay focused on earning money

Grow your business with new opportunities.

If you’re looking for other opportunities, it’s a great time of year to start to make additional contacts with providers, nursing homes, and other community resources for seniors. Many agents will be going on vacation or slacking off this time of year, and if you are able to build a relationship now, or sponsor community events, you’ll be able to reach more potential clients later. Something to keep in mind is that with the changes in government and the rumblings about a new under-65 healthcare roll-out, many beneficiaries are concerned about their coverage. Now is a good time to meet with members to provide some reassurance, and hold educational events to explain how Medicare works with Medicare 101 classes.

Want some ideas of new and different ways to market in your community?

Check out our “Community Marketing” webinar where we talk about the different events and ideas you can do to generate new business! RBI can teach you how to “own your own backyard” and become known as the Medicare expert in your community. Have you completed a contract yet? Call our team at 1-800-997-3107 or click here to complete the Fast-Track and get appointed even quicker!



AEP
New Agent
Senior Insurance Acronyms

Be a Power Hitter with Cigna

Join Charlie Ferrell and Jim Codney from Cigna for this great training: “Be a Power Hitter with Cigna”

Join us at 9 AM MST/12 PM EDT to learn how to be a power hitter with Cigna!

Here’s what we’ll go over:

 

               Who is Cigna and what do they have to offer?

               Cigna’s product offerings for Medicare Supplements, including new CHLIC product in select markets!

               How this carrier fits YOUR portfolio

               How to get contracted today! 

 

April is Carrier Spring Training month at RBI, and we are excited to be partnering with great carriers! Click here to register for all webinars!

Want to get ahead of the curveball? Click here to see our carrier partners and get started contracting today! Call our office at 1-800-997-3107 for info!

 

Looking for an Insurance CRM? 5 Reasons to love the Medicare Sales Engine

Charlie Ferrell

RBI National Sales Manager: Charlie Ferrell

Charlie started his senior insurance career after a brief 30-year stint in the restaurant industry. In the 12 years since then, he has been blazing trails and setting standards for excellence all over! A native son of Utah, he has been a state manager for RBI as well as a managing general agent for UHC, Coventry, Molina and other carriers! Charlie came to RBI as the National Sales Manager in 2015, and is an invaluable resource for our agents and staff for marketing, compliance, and sales topics! Charlie’s field experience with senior insurance sales has made him an expert in our insurance CRM: Medicare Sales Engine. If all of that wasn’t enough, Charlie specializes in the Dual-Eligible market and is leading the charge behind RBI’s new “Dual Eligibles for Newbies” seminars!

Insurance CRM

Looking for an Insurance CRM?

5 Reasons to love the Medicare Sales Engine

National Sales Manager: Charlie Ferrell


If you have been looking for a reliable, convenient and easy-to-use insurance CRM, look no further! Today I want to tell you more about RB Insurance’s flagship sales and lead management system: the Medicare Sales Engine (MSE). You may have already read about our Massive Response Mailers and partnership with Touchstone Marketing to bring you the best prices and deals on print and fulfillment.  Why are mailers and marketing connected to the MSE? Because we have seamlessly integrated your leads from mailers to the MSE! 

“So, RBI, what exactly is the Medicare Sales Engine?”

Simply put, the MSE is RBI’s proprietary CRM system to help our agents manage their leads, clients, commissions, appointments and much more! You can get a lot out of the MSE, especially if you really take the time to learn how to use all of the features.  Let’s take a closer look!

#1 – Built to serve senior insurance agents:

First off, when we began to develop the Medicare Sales Engine over 10 years ago, we started with our own group of senior insurance agents and asked “what would make your life easier?” As a result, the MSE is built around the needs of an agent who is out in the field selling, with features to make you more efficient and to cut back on your busy-work. You can view the Medicare Sales Engine on your tablet, phone, laptop, desktop – any device with an internet connection. With our on-going commitment to excellence, if you have a feature you’d like to see implemented in the MSE, you can call us and we’ll see about adding it to the MSE!

#2 – At-a-glance updates on your business

We recognize that your time is valuable, so we have made sure that the Medicare Sales Engine is very simple and easy to use. When you login, the first thing you see is your dashboard, a snapshot of your business. The dashboard breaks your business into clients and leads sorted by temperature, and displays information so you know exactly where you left off.  This helps you identify your next tasks, trends in your business, or areas of opportunity!

#3 – Seamlessly integrates with lead mailers

Remember when we said that the MSE seamlessly integrates with lead mailers?  Well, we have developed a partnership with Touchstone Marketing and one of the benefits of this relationship is behind-the-scenes system integration. What does this mean for you? Any leads from mailers you purchased from Touchstone Marketing will show up inside your Medicare Sales Engine account. All the lead response information from the mailer, and a copy of the mailer itself will be uploaded to your account. An added bonus? You’ll get an SMS text notification that you have new leads so you can start working on your hottest leads right away!

#4 – An Insurance CRM with the right price tag

Most insurance CRM systems have a drawback — whether it’s a must-have feature like tracking commissions, or the ability to upload your existing book of business, or a bit of sticker-shock when you see the price tag. With RBI’s insurance CRM, the Medicare Sales Engine is free to contracted agents. It’s that easy: when you’ve completed the contracting process, and are ready-to-sell, your MSE portal is generated. You can log in right away, and get started!

# 5 – HIPAA Compliant record keeping, free Quoting Tool, and more!

We only have time for 1 more awesome thing that the Medicare Sales Engine can do, so this one’s a combo. The Medicare Sales Engine is HIPAA Compliant so your records are protected. It’s easy to upload notes, applications, and other records to have an online back-up for your office. We recommend that you take a few minutes each day to update actions you have taken with each lead, such as calling to schedule an appointment. An additional feature that agents love is the built-in quoting tool.  The RBI quoting tool gets real-time CMS updates, so you know you’re getting the most recent information about product availability and pricing. You can use the quote tool to research best plans for your leads and clients, and add notes inside their record about special medical or financial considerations.

We love to talk about the MSE, so if you have any questions call us at 1-800-997-3107! You can also catch up on some of the basics by watching this recorded webinar. To learn more about the quoting tool, watch this recorded webinar.

The Medicare Sales Engine is just one more way that RBI commits to make it happen for you! Get contracted today to get your own free access to this fantastic insurance CRM!




2019 AHIP
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