Major Industry Updates – 4/11/22 Internal Office Meeting

London, Santa Fe, and Albuquerque - Three meetings with top producers in three weeks.. Here are some inside-industry updates and takeaways from these meetings (more to come, too.) NOTES: Hannah Anthem & BS of CA Rate increases: No one-year rate lock Generally, increase everyone’s rates at the same time vs at their policy anniversary. (Usually in the spring) SEP Codes- we’ve had several apps rejected recently because we used the wrong SEP code. It is EXTREMELY important that we are paying attention and getting these right the first time around. If we are unable to catch and fix it in time, it could result in a lack of coverage for someone. That is a huge liability for us as and could lead to huge expenses, a penalty, and undue stress for the client. MA-OEP: if they aren’t covered under another MAPD at the time of the app, this doesn’t apply. We would use a loss of coverage SEP if the plan already ended. Looks like some apps have rearranged the order of their SEP codes- don’t rely on muscle memory The most Common Part D SEP codes and criteria can be found here: Part D Enrollment Cheat Sheet Each Carrier also has their own SEP code guides. UHC has a very detailed one with examples that can be found here: 80142_2019_2020 UHC Election Period Booklet.pdf Reminder: Now that MA-OEP is over. If someone calls in wanting to look at their MA options, we can check 5 Star plan availability for their area. Dual Eligible beneficiaries get a SEP to switch once per Quarter. (Also true for Extra Help) Please make sure you are keeping PureChat open and watching for incoming chats. Sales team - two goals for the week. (Something you should be doing on your own on a regular basis) One related to your sales numbers One related to your lead follow-up activity. April Competitions: Sales (Most Dental) - Melanie is in the lead with 7. Alexis and Kristina are close behind at 5 and 4. Admin (Most Outbound) - Ashley is in lead with 201. Noelle and Madison are close behind with 150 and 140 Chris At SMS President’s Club last week: We were #2 out of 60,000 contracted agents! 2021 Numbers: Med Supps down 3% MAPD: Up 20% MAPD will hit 50% of market in 3 years of all new products sold Local PPO: + 21% HMO sales: + 8% Regional PPO: - 18.5% SNP: + 19.9% MSA + 3.4% (We will have Lasso MSA soon) PDP Aetna (CVS): +6.7% UHC: -12.7% Wellcare: -.2% Cigna: -9.95% Humana: -3.6% Aduhelm Coverage Determination happened late last week. Status quo. Reduction in Part B premium now possible. As inflation grows, it is expected that more seniors will forego and cancel Part D. Our new competition will be RETAIL: Walgreens, Amazon, CVS, Costco, etc. Call centers focusing on MAPD continuing to fail due to churn. Rate Increases expected on Medicare Supplement Aetna will average 8% rate increase (expected) Mutual as high as 12%, also issuing new paper (new brands) UHC: 3 to 5% expected (remember the built-in disappearing discount Cigna: up to 9.2% expected (also launching new paper in states) Spring Venture Group laid off 290 employees 1/3rd of the workforce! SelectQuote investors have class-action lawsuit alleging fraud with published numbers The churn rate in these call centers approaches 50% within 1 year! They were paying up to $260 per lead and claiming a lifetime value of $960 in year 1 Those calling the TV ads (Joe Namath, etc.) were calling ALL of the ads and switching We need to pay attention to 5-star Plans. There were 21 in 2021, now 74 CMS issuing new guidance for third-parties marketing Medicare Advantage: Remove “confusion words” and imagery that causes confusion Avoid using “Unbiased” and “Expert” in ads US Fire taking first rate increase .4% Achieved because 70% of new business is Underwritten - a huge accomplishment Now approved in 32 states. Crum and Forster (parent) in business for 200 years. GPM Life is rolling out new states again - managed by Mutual - great service, stability. Federal Life - losing Blue Button option 2-year conversion option for HDG in AZ, FL, GA, IL, IN, KY, MI, NC, NJ, OH, PA, TN, TX LAPRO - using the Blue Botton link there will auto-sync every year w/ no new permissions .

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