Medicare Advantage Plans

Medicare doesn’t cover everything. Medicare Advantage picks up the difference, covering needs like vision, prescription as well as reducing costs for other items covered by Medicare.

Why Sell Medicare Advantage?

  • 10,000 people turn 65 every day in the US according to AARP. That is 10,000 people every day looking for an agent to navigate them in the right direction to enroll in a Medicare plan.
  • With many different plan options to enroll in, Medicare-eligibles won’t know the best plan needed for their health care needs. Original Medicare (Medicare Part A and Medicare Part B) isn’t enough coverage for some, and need guidance on the benefits they could receive from choosing a Medicare Advantage plan.
  • You’ll have the most sales success if you have all three Medicare products in your portfolio, because each type of plan serves different needs. Typically, insurance carriers offer higher commissions for Medicare Advantage plans than Medicare Supplements or Part D plans. An Advantage plan may offer your client the lowest cost for the benefits they want, but a Medicare Supplement (Medigap) plan might work better for those who want coinsurance or copays covered.

Yes, we’re an FMO!

A field marketing organization (FMO) is a company that supports independent insurance agents in their sales endeavors and client retention. We provide an extra level of support to agents through excellent customer service and state-of-the-art resources and tools.
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Sales Tips:

Get the Right Insurance License

Purchase Errors & Omissions insurance

Complete the AHIP Medicare Certification

Know Your Enrollment Periods

Know Your Medicare Products

Becoming a licensed insurance agent is more than just deciding what kind of insurance you want to sell. There are some steps you need to take in order to be an official Medicare Advantage insurance agent.

1/Prelicensing Course
You must take your state’s required prelicensing course and complete the certification exam. Each state is unique in the procedure and hours it requires for the course.

2/Licensing Exam
After you pass your prelicensing course, now it’s time to take your state’s licensing exam.

3/Background Check
Once you have passed the licensing exam, you need to pass a background check. Depending on the state you are licensed in, the background check will look different and may include fingerprinting.

4/Apply for License
After you have passed all the exams for your state, you can apply for your license through the National Insurance Producer Registry (NIPR).

Get the Right Insurance License

Purchase Errors & Omissions insurance

Complete the AHIP Medicare Certification

Know Your Enrollment Periods

Know Your Medicare Products

  • Errors and Omissions Insurance is a needed form of liability for many insurance agents. This kind of insurance can protect you and your agency from claims that without the insurance, could cost you hefty legal fees.

Get the Right Insurance License

Purchase Errors & Omissions insurance

Complete the AHIP Medicare Certification

Know Your Enrollment Periods

Know Your Medicare Products

  • AHIP is a required certification for any insurance agent who wants to sell Medicare Advantage plans. The test costs $175.
  • It’s really a small price to pay for the amount of money you can bring in from selling Medicare Advantage, especially during AEP. Ready to get started?
  • The AHIP website is simple to follow. You’ll start by either creating a new account or logging into your existing account.
  • Select the plan year that you are certifying for, and then choose whether or not you want your AHIP training to give you continuing education credits (you should). Complete the modules and test quizzes to prepare, and pass the AHIP exam with a 90% or better.
  • Print, save, or transmit your certificate. We recommend doing all three so you don’t lose track of it!
  • If you contract with Senior Market Advisors, you can receive weekly newsletters and regular emails that include information like notices about other AHIP certification discounts (no cost to you).

Get the Right Insurance License

Purchase Errors & Omissions insurance

Complete the AHIP Medicare Certification

Know Your Enrollment Periods

Know Your Medicare Products

Type Enrollment Period
Medicare Advantage Initial Enrollment Period (IEP) This is three months before someone turns 65 to the three months after, which is a total of seven months to enroll in Medicare for the first time.
Medicare Advantage Open Enrollment Period (OEP) The Open Enrollment Period (OEP) also lasts from January 1 to March 31, your client may only switch from one MA plan to another. Your clients can also drop MA coverage and enroll in Part D.
Medicare Advantage Annual Enrollment Period (AEP) The majority of your clients will have to wait until the AEP, from Oct 15 – Dec 7, to switch from Original Medicare to a Medicare Advantage plan.
Medicare Advantage Special Enrollment Period (SEP) Certain life changes like moving, losing coverage, financial eligibility, or chronic illnesses, either temporary or life-long. Life-long SEPs may qualify for Special Needs Plans (SNPs), which are Medicare Advantage plans that are specific to certain health conditions and/or financial needs. They can make one change to coverage per quarter from Jan – Sep.
Medicare Advantage General Enrollment Period (GEP) Clients who miss their IEP can enroll during the GEP, which is from Jan – Mar. They may have to pay a penalty, and coverage won’t start until July 1, so it’s important that they enroll at the first opportunity.
This IEP is only for first time enrollment.

Get the Right Insurance License

Purchase Errors & Omissions insurance

Complete the AHIP Medicare Certification

Know Your Enrollment Periods

Know Your Medicare Products

Coverage Eligibility
Medicare Advantage (FMO) Expenses for items not covered by Medicare. Policies vary but could include vision, dental, hearing, gym fees
Have Original Medicare, Part A and Part B.
Live in the plan’s service area.
Not in end-stage renal failure
Medicare Supplemental (FMO) Out-of-pocket costs
not covered by Medicare, such as copayments, coinsurance, and deductibles
Have Original Medicare, Part A and Part B.
65+
Medicare Part D Offsets and covers prescriptions not covered by Medicare
65+ and Medicare-eligible, or
Social Security disability for at least 2 years, or end-stage renal failure
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