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Archive for December, 2010

This past Thursday, HHS issued its proposed Rule on Excessive Rate increases which would mandate states to review any increases on Individual and Small Group Health Insurance which exceed 10%.  This rule specifically excludes the large group market and is not final.  There will be a comment period before HHS promulgates the final rule.

Many states already have systems in place to review proposed rate increases and have authority to deny any increases which are not justified or are deemed excessive.  This rule would mandate review about a specified threshold (10% in 2011) for all states and would involve some Federal scrutiny, in addition.

The story is covered by NAHU here.

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Do you need insurance product training? Ritter Insurance Marketing will let you know what training events are happening in the insurance industry. Here is a list of the upcoming Insurance Trainings. Registration is “one click” away at Ritter Insurance’s “Event’s Calendar”! (You must be logged in to register!)

  • Monday, December 27th;  No scheduled trainings.
  • Tuesday, December 28th;  Molina Medicare 2011 Broker Training seminar is open to agents in the Troy, MI area.
  • Wednesday, December 29th;  Ritter Insurance Marketing is hosting a webinar about ADP. The webinar is open to all agents.
  • Thursday, December 30th;  Ritter Insurance Marketing is hosting a webinar for new agents.
  • Friday, December 31st;  No scheduled trainings.

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Molina January Training

Molina Medicare offers competitive products and benefit plans that you can market year-round with rich value-adds to meet your customers needs.  Now that the AEP is coming to an end, come hear about the plans that Molina Medicare offers that can be marketed year around!
 
Space is limited so please make sure to RSVP to one of the Webinars or Live Trainings!

Click here for a full list of Molina Training events during January.

IT IS HIGHLY RECOMMENDED TO PLEASE TEST YOUR BROWSER BEFORE YOU ATTEND YOUR FIRST WEB CONFERENCE!!!!

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Here is a link to the actual final regulation.

This regulation applies to Insurance Producers in New York State and requires producers to make disclosures to consumers in regards to compensation which may be received as a result of the issuance of an insurance contract.

The regulation was instigated due to former New York Attorney General Eliot Spitzer’s 2004 investigations of Aon, Willis and Marsh.  In these cases, there was compensation paid by both the client and the insurer.  Additionally, these transactions involved primarily very large commerical accounts.

However, the New York Insurance Department wanted the clarification of producer compensation to apply to transactions involving $100 or more in annual compensation.

The disclosure is a two step process.  The first step is required in all cases.  The more detailed disclosure is required when a consumer requests more detailed information.

Additionally, the producer is required to retain the disclosure for a period of 3 years.

Since this regulation is targeted to insurance producers and not to insurance companies themselves, producers should consult their legal advisers or associations for more details on how to ensure compliance with this regulation.

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Outlined below are the dates for Year End Application Submissions as provided by CMS. 

Paper enrollment forms and disenrollment requests received via U.S. Mail delivery on Monday, January 3, 2011, regardless of U.S. Postal Service postmark, may be considered “received” on Friday, December 31, 2010, and thus accepted as AEP elections.

Paper enrollment forms and disenrollment requests received Tuesday, January 4, 2011, through Friday, January 7, 2011, with a U.S. Postal Service postmark on or before December 31, 2010, may be accepted and considered received on the postmarked date.

AEP requests received in the mail after January 7, 2011, regardless of postmark, must be denied.

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Last Thursday, I recorded a training for new agents.  Some of the topics I covered were:

  • Our new feature on running Part D Estimated Drug Costs
  • Using the RitterCRM
  • Medicare Quote Engine
  • Pre-Filling Contracting Paperwork
  • Resources for How to Certify, How to Submit business, etc.

Here is a link to the recording!

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If you still need last minute training, look no further. Here is a list of the upcoming Insurance Trainings.  Registration is “one click” away at Ritter Insurance’s “Event’s Calendar”! (You must be logged in to register!)

  • Monday, December 20th;  No scheduled trainings.
  • Tuesday, December 21st;   Baltimore Life Tele-sales Training for Silver Guard Products Using INSpeed and Baltimore Life Wealth Transfer Program Using the Single Premium Whole Life (SPWL) Product webinar training is open to all Baltimore Life licensed agents. Molina Medicare 2011 Broker Training webinar is open to agents in CA and FL.
  • Wednesday, December 22nd;  Molina Medicare 2011 Broker Training seminar is open to agents in the San Antonio, TX area.
  • Thursday, December 23rd;  No scheduled trainings.
  • Friday, December 24th;  No scheduled trainings.

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