Ok - first off, I haven’t been using my blog for direct business topics, but rest assured this will be informative and personal!!
The Annual Enrollment Period (AEP) is the busiest time of year for an insurance agent assisting Medicare clients; that’s me if you didn’t get that clue! This is a chance for every Medicare beneficiary to potentially make a change to their Prescription drug plan (Part D aka PDP) or Medicare Advantage plan (Part C). You can also shop around for Medicare Supplement (Medigap) plans, but this specific change can happen year-round. Current Medicare beneficiaries should contact their insurance agent starting October 1 for this IMPORTANT election time! If you do not have a local Medicare specialist insurance agent, contact me today for more details. I currently serve all Indiana and Ohio counties. No cost to call me direct and most Medicare services are provided as a value-added service. Reach out to me if you have questions!!
As I already mentioned, AEP is the busiest time of year for agents helping Medicare clients. WC insurance Solutions specializes in Medicare. We are looking to expand our services as needed for clients including life insurance, long-term care, and vision/dental policies, but currently we only offer plans and policies to current Medicare beneficiaries.
Each year a Medicare plan producer (me again, just different adjective) must complete certification requirements. AHIP is a 6-hour course, and I must pass the 50-question multiple choice exam (which is monitored) with a 90%. Also, each contracted insurance company I represent requires product-specific training! I am currently contracted with 5 PDP and MAPD carriers. The carrier assessments are shorter but still require a 90% and some 100% passing scores.
As of today, I have completed all my annual certifications!!
Additionally, this year, I am celebrating 2 years in business!! This means I must obtain 24 hours of continuing education credits (CE) to renew my state issued license. I’ve been working on a long-term care (LTC) education class required prior to offering these policies to clients AND satisfies 8 hours of CE! An exam is required but I’m unsure of the specific passing requirements at this time. But believe me, I’m taking notes like crazy all the while knowing education for these plans will continue with each unique client!!
After I complete this LTC course, I will only have 10 hours left to complete. I have set my own deadline for completion prior to the end of September. By then, I must be ready for AEP and to assist clients starting October 1!
Just because we are friends 😉 I want to try and add perspective how busy insurance agent’s assisting with Medicare actually are during AEP.
In 2021: 36% of my income was produced during 2020 AEP (which is paid January 2021). The year 2021 was my first full year of business; self-employed and definitely still learning!
Projected 2022: 25% of my potential gross income may have been collected January 2022. This is because of how busy and efficiently I worked during AEP in fall 2021!! The reduction in percentage from year-to-year isn’t a concern, as I continue to advertise, reach out to market specific demographics, build a client database that provides referrals, and more!!
So, when I say we are busy, I’m not joking! But please know you still deserve personalized, professional, and excellent client care each and every AEP.
For WC insurance Solutions, please call preferably in early October to discuss AEP and how it can affect YOU!! 765-546-1516
Annual Enrollment Period (AEP) begins October 15 and has a strict deadline of December 7, every year!!
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