This is an explanation of the “cooling off period” with respect to Medicare Advantage and other products. If you intend to present more than one product, you need to advise the client in advance. Once CMS completes the 2009 Medicare Advantage Marketing rules, I’ll give a detailed description of each rule.
Q: In 2008, is it correct that an agent can present as many MA-PD plans as he wants, or is the protocol to do a needs analysis on the first visit and then go back to present the ONE plan that he thinks best meets the clients needs?
A: There is no restriction on a sales agent presenting more than one MA, MA-PD or PDP plan during a sales presentation for 2008 products.
For 2009 products, CMS is requiring that a sales agent disclose prior to the in-home sales presentation all of the products (e.g. MA, MA-PD, Medigap, PDP) that will be discussed at the in-home sales presentation.
If an agent wishes to discuss a product that is not initially identified, the sales agent must reschedule a separate appointment and such appointment cannot occur until 48 hours has past from the initial appointment – cooling period.
how will anyone ever get into a very poor persons home…
not with anything that cost money and they need these plan
more than anyone else
Rick:
I don’t think you have to indicate every Medicare Advantage product you would like to offer. I think I would be relatively broad in terms of which products you may be speaking about. I’d say, Medicare products, like Medicare Supplement and Medicare Advantage to cover all the bases with Medicare plans.
The Continental Edge product is a little trickier. I might say, it may appropriate for you to consider supplemental coverage to help you with out of pocket costs. I’m thinking that would cover the Continental Edge type plans.
I don’t understand what CMS is trying to do. This is just another example of bureaucrats treating Seniors like they are too stupid to decide for themselves. What are they? Children? These are people who have a lifetime of experience. I think they can decide whether they want a Medicare Advantage product or a Medicare Supplement without the agent spending $5 a gallon for gas to come to their home twice.
I for one will list every single product I could ever sell, every company, every policy on the letter I send prior to my appointment … and tell them that the only reason they are getting a three page letter is that the CMS thinks they are too stupid to decide unless the agent tells them before he/she comes what products could, by any remote standard, come up in conversation!
Craig:
Does this mean that if I see a prospect about an Aetna HMO and in the course of our discussion discover that she qualifies for an Evercare Chonic plan with better benefits, I’ll have to come back in 2 days?
Do we “get around” this by listing every possible product a person might want before confirming the appointment?
Another question – Let’s say the prospect enrolls in the Aetna Value PFFS but is concerned about a potential $1,280 for a 7+ day hospital stay. Do I have to make another appointment to discuss CGI Edge?
I understand what CMS is trying to do, but without fact finding usally face to face, how can we comply with our duty to provide the proper product?
Rick