Your Monday Brief

Introducing a better way to complete a Scope-of-Appointment: Web SOA

Creating, sharing, and completing an SOA in today's virtual selling environment should be easy and quick. Yet, many of the traditional SOA methods are limited and slow.

That's why we're excited about the release of the new Web SOA tool! Web SOA makes it easy to complete an SOA in one simple step.

With Web SOA you get a personalized, branded SOA that can be sent to your client via email, text, or even via your website.

We believe this tool will revolutionize the SOA process for brokers, so through July 3rd brokers can register for the tool for free courtesy of Plan Advisors!

Brokers selling Medicare Advantage are getting a raise in 2021

CMS has released the allowable compensation rates paid to brokers for 2021 Medicare Advantage Plan enrollments.

Carriers are permitted to compensate producers up to $539 for the initial year enrollment, an increase from $510 allowed for 2020. Compensation for renewal years is capped at $270, an increase from $255 allowed for 2020. This is a national limit; however certain parts of the country have variations:

• Connecticut, Pennsylvania, and District of Columbia:
  • Initial Year - $607
  • Renewal Years - $304
• California and New Jersey:
  • Initial Year - $672
  • Renewal Years - $336
• Puerto Rico and U.S. Virgin Islands:
  • Initial Year - $370
  • Renewal Years - $185

The allowable compensation for Part D Plan sales also increased slightly from $78 in 2020 up to $81 in 2021. Renewal years can be compensated for up to $41.

Virtual selling and enrollments are here to stay

Even as we're beginning to see some states reopen, seniors across the nation fall into the at-risk category for COVID and may continue to be hesitant to meet in person.

We expect to see higher virtual enrollment rates continue through the end of the year. Therefore, now is the time to make sure you've solidified your process for selling and enrolling virtually before AEP hits in the fall.

A few weeks remaining in national SEP for individuals affected by COVID-19

Ending June 30

There are still a few weeks left for individuals impacted by COVID-19 to utilize this SEP to make enrollment or disenrollment elections.  

Reminder for brokers: Disaster SEP should never be used as a marketing tool to promote MA or PDP sales, but it enables brokers to help beneficiaries who believe they have missed an election period due to the incident.

Learn more about eligibility by clicking the button below.

Other "don't miss" resources:

• Telephonic & electronic enrollment options by carrier
• Med Supp enrollment options by carrier
• Humana product marketing kit reference guide by state
• Presentation compliance measures
• Telehealth information by carrier