Balancing Regulation Changes and Client Needs in Medicare Business Practices
November 13, 2023
Today's episode was supposed to be episode 10 but we are releasing it early due to the impact on independent agents business. Listen now to find out how the new proposed CMS regulations can hurt independent agents and what to do about it.
We discuss the following key items:
1. Government regulation impact on agents
2. CRM system challenges and postcard strategy
3. Client medication costs and plan recommendations
4. Voice signatures and episode relevance
5. Legal protections for powers of attorney
6. Compensation concerns and marketing money
7. Using carrier logos and agent independence
Listen to the episode now and protect your business.
02:13 CMS wants to cut funding, impact on us.
05:56 Writing not incentivized by marketing dollars.
07:00 New carrier offered marketing money, but declined.
09:55 Call centers push carriers over others for profit.
13:31 Adapt, own your book, diversify, stop promoting.
18:19 Reliance on uplines for business support.
22:37 Moving out of Medicare Advantage Plan for supplement.
25:20 Encourage agents to voice concerns to authorities.
27:54 Grandmother in hospital, needs change in healthcare.
32:29 Technology boom due to COVID, CMS challenges.
34:58 Client informed about inexpensive drug plan issue.
38:09 Confusion about donut hole and new policy.
41:08 Struggling with deadlines, feeling frustrated and overwhelmed.
44:24 Client letter and prospect postcard discontinued. Assistant objected.
48:41 Life insurance and MedSup offer guaranteed issue.
50:20 Arranging health insurance application for client.
55:31 Unauthorized plan changes discovered through client's attorney.
Joanna Wyckoff from Topflightagent.com and Kathe Kline from CertifiedMedicareAgents.com talk about building a Medicare Insurance Agent business. (Use the code Babes2024 to get a free Bronze membership in the CertifiedMedicareAgent.com directory).