Feb 24 2025 Meeting with Updates

We had LOTS of updates, including a presentation on how we've been doing in the office compared to other agencies. Notes are under the video: United Healthcare & DOJ Investigation (0:00 - 1:57) DOJ Investigation into United Healthcare's coding practices, making people appear sicker for higher Medicare Advantage reimbursements. Stock drop affecting the Dow Jones. CEO shooting and possible connection to internal testimony. United Healthcare offering 30,000 employees voluntary exits, indicating expected financial hit. State Prior Authorization Transparency & Medicaid Discussion (1:57 - 4:33) State initiatives to force insurers to disclose denial rates and appeal outcomes. Medicaid Cuts Proposal under Republican House budget. Historical comparison to Clinton-Gingrich era Medicaid reform. Potential impact on 20 million enrollees, but Medicare remains untouched. Medicare Supplement Market Challenges (4:33 - 7:03) Four major trends affecting Medigap: High loss ratios (over 100%) causing financial strain. No new competitive carriers entering states. Large rate increases across plans (e.g., 30% by Mutual of Omaha). 12 states considering guaranteed issue (GI) rules, creating additional financial pressure. Pivot to Medicare Advantage & Cross-Selling (7:03 - 11:17) Medicare Advantage growing due to Medigap affordability challenges. Insurers possibly manipulating the market to push people toward Medicare Advantage. High Deductible Plan G (HDG) as an alternative with ancillary products like cancer and hospital indemnity plans. Importance of cross-selling to maintain agency profitability. D-SNP (Dual Special Needs Plans) Changes & Medicaid Coordination (11:17 - 13:46) April 1st rule changes requiring D-SNP members to match their Medicare and Medicaid providers. Florida & Virginia allow automatic Medicaid switching when enrolling in a D-SNP. Impact of NIH Budget Cuts on Cancer Research Patients (13:46 - 15:08) Cuts to National Institute of Health research grants affecting patients in clinical trials. No Special Enrollment Period (SEP) for losing trial-based medications. Referral options to Social Security’s Extra Help program. VA Layoffs & Medicare Advantage SEP (15:08 - 15:34) VA staff reductions affecting veterans' healthcare access. Veterans losing VA benefits can enroll in Medicare Advantage at any time. Partner Meeting Highlights & Blue Cross Blue Shield Updates (15:34 - 19:20) Mutual of Omaha launching a dental plan in August with prior coverage credit. Blue Cross Blue Shield of Illinois offering year-round GI Medigap enrollment. Massive Aetna rate increases in: Arizona (25%) New Mexico (20%) Nevada (20%) Georgia (15%) Illinois (25%) Lead Distribution & Renewal Outreach Strategy (19:20 - 24:40) Assigning targeted leads for follow-up on rate increases. Ensuring phone calls are made, not just emails. Transparency in lead distribution across agents. Commission Changes & LA Pro System Update (24:40 - 26:12) "No Commission Paid" (NCP) label update in LA Pro starting April. Agents will be able to edit email subject lines in LA Pro. Medicare Supplement Challenges & South Carolina Blue Cross Opportunity (26:12 - 27:58) South Carolina BCBS offering an innovative high deductible G (HDG) plan. GI opportunities in SC & other states. Commission incentives for selling HDG plans. Performance Review & Cross-Selling Success (27:58 - 34:52) Senior Savings Network ranked in the top 10 among Senior Market Sales teams. Cross-selling improvements in 2025: Medigap to Dental: 84% Hospital Indemnity to MA: 123% Training focus on cross-selling strategies to maintain high performance. California Dental Plan Update (34:52 - 35:32) California removed pre-existing condition clauses in dental plans (as of January 1st). No missing tooth clause anymore. Cancer Insurance Advocacy (35:32 - 36:53) A client regretted not purchasing a cancer plan before being diagnosed. Emphasizing the importance of selling ancillary coverage. Closing Remarks (36:53 - End) Encouragement for continued cross-selling success. Transparency in leadership and strategic planning. Recognizing agents' contributions to success.

Recent Posts