Ritter Insurance Marketing, Craig Ritter

SilverScript Fights Rising Drug Costs with 2017 Formulary

CVS Health, which maintains the SilverScript Part D prescription drug plan, stood its ground against skyrocketing drug costs with the release of its 2017 drug formulary. The drug plan will add 35 products to its list of excluded drugs next year. Treatments for cancer and diabetes were replaced with lower-priced medications that have similar makeups,…

8 Aug 16
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CMS Reimbursements for MA Plans Less than Expected

The recent announcement of a .85 percent increase in reimbursements to Medicare Advantage plans is a surprising twist on the trend we’ve come to expect. After an initial proposal of 1.35 percent increase in February, the Centers for Medicare and Medicaid Services revised their figure based on estimates of how much medical services…

20 Apr 16
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State of the Senior Market: In Review

On Friday, I gave my annual State of the Senior Market address to 500 agents from across the country. You can watch a recording here, but if you’d like a quick summary, here are some of the highlights: Ritter Year in Review

  • We went from 102 employees to 140 employees, which means more people working…

    12 Feb 16
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Cigna Hit with CMS Sanctions

CMS has imposed sanctions on Cigna suspending the enrollment of new customers in their Medicare Advantage and stand-alone Prescription Drug Plans. For the time being, agents must cease marketing to and contracting potential enrollees on behalf of Cigna-HealthSpring. Current enrollees in Cigna MA or PDP plans will not be affected. Based on prior cases, CMS…

22 Jan 16
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Refresh Yourself on Scope of Appointments for 2016

Scope of Appointment documentation is required for ALL face-to-face marketing appointments with individual beneficiaries, regardless where the appointment takes place. Group sales presentations (formal and informal CMS filed sales events) do not require the documentation because the scope of products that will be discussed should be indicated on all event advertising materials. The documentation must…

5 Oct 15
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Overview of Medicare Marketing Guidelines 2016 Changes

I’ve completed my first read through of the 2016 MMG. This blog post will act as a “living” document as I continue to get feedback from insurance companies on how they interpret these changes. I’m certainly going to lay things out as best I can, but sometimes when reading these changes, CMS provides a little…

5 Jul 15
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Justice Department Charges 243 with Medicare Fraud

On June 18, the U.S. Justice Department charged 243 people with $712 million in false billings to Medicare. It was the single-biggest crackdown in an 8-year campaign against health-care fraud.

22 Jun 15
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CVS Health to Acquire & Rebrand Target Pharmacies

On June 15th, it was announced that CVS Health Corporation has agreed to buy Target Corporation’s pharmacy business for $1.9 billion.  After taxes and fees, the deal is worth $1.2 billion to Target. CVS Health will be acquiring, rebranding, and operating over 1,660 Target pharmacies across 47 states, and a CVS/pharmacy will be…

16 Jun 15
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CMS Issues August 14, 2014 Memo on MMG and Agent/Broker Compensation

Here is a link to the memo:  MMG Corrected 8 14 14. Here is a summary of some of the important clarifications:

  • Section 70.6 Telephonic contact – I will probably need more clarification on this clarification.  MMG currently reads, “Agents may contact their own clients and Plans/Part D Sponsors may contact current enrollees at…

    18 Aug 14
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  • Get Familiar with Your State Pharmaceutical Assistance Program (SPAP)

    Getting familiar with your State Pharmaceutical Assistance Program is a great way, not only to help your Medicare beneficiary clients, but also to unlock special elections to enroll in Medicare PDP or Medicare advantage plans with Part D.  Medicare beneficiaries who are enrolled in an SPAP get one Special Election Period per year to change…

    6 Jan 14
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