Big Changes For This Year's AEP!
CMS has finalized new Medicare marketing rules for MA, MAPD and PDP marketing for the 2023 AEP. These new rules will have a significant impact on your sales and marketing activities. In conjunction with our partners at Integrity, we are sorting through these new rules and developing tools and technology that will help you meet these new challenges.
The most significant rule change is the new requirement to record all calls with your clients and prospective clients. Absent further clarification from CMS, this requirement appears to include inbound and outbound calls with consumers associated with the chain of enrollment including lead generation, marketing, and the enrollment process.
We are still reviewing the new rules and working through compliance and legal specialists at Integrity to address questions and concerns about the new rules and how best to implement them. In the meantime, Integrity has created a FAQ document which addresses many of the questions that you may have. As we receive updated information, we will communicate it to you.
Compliance is Key
While you’re working with current clients and developing new sales possibilities, it’s critical to keep in mind that staying compliant is essential for working in the insurance industry. Savers Marketing is always willing to help agents excel in the field—and an important part of your success is ensuring you are compliant.
Important Details to Remember About Sales Events
- Sales events must be reported to the carrier you represent.
- A “Nominal Gift” is defined as any promotional product that costs no more than $15.
- Attendees are not required to supply their contact information.
- You CANNOT offer meals.
- Agents CAN conduct marketing activities such as discussing plan information, distributing marketing materials, and collecting/distributing enrollment paperwork.
- You must be present for the event. No-shows are a CMS violation, so you’ll need to attend your scheduled event or follow the cancellation procedure within the prescribed time period.
An Educational Event is an event that informs beneficiaries about insurance programs. It does not include marketing activities (i.e., the event sponsor does not steer, or attempt to steer, potential enrollees toward a specific plan or a limited number of plans). They must be held in a public place and advertised as educational.
What Should Clients Expect from Educational Events?
- Receive information about Medicare, Medicare Advantage, Prescription Drug, or other insurance Programs.
- Promotional Items that are of nominal value and free of benefits information. These items may display the Plan Name, Logo, Toll-free Number, and Website.
- Contact information and business cards for beneficiaries to reach out.
- Opportunity to schedule future appointments.
- Opportunity to submit Scope of Appointment Forms.
- Receive answers to their insurance-related questions
Agents should AVOID the following at educational events:
- Providing or discussing specific plan materials.
- Distributing sign-up sheets or enrollment forms.
- Collecting or distributing specific plan applications.
The ultimate goal of Savers Marketing is to help insurance agents reach their full potential. Are you interested in furthering your education as an insurance agent to stay compliant? Check out our training opportunities for webinars on the latest compliance issues and standards. You can also refer to the resources below for more detailed information on compliance.