Give your clients the facts and put them at ease
This year’s Medicare Advantage Annual Election Period (AEP) and the Medicare Advantage Disenrollment Period (MADP) are upon us. Annual enrollment runs from October 15 to December 7.
We know you’re busy, so here is a quick reference list to get you through some of the situations you may face when selling Medicare Supplement insurance. The following five scenarios will require additional information at the time of application to avoid processing delays.
- Coming off a Medicare Advantage Plan because the plan is no longer offered
The applicant will need to send a copy of the letter from Medicare or the Medicare Advantage carrier stating that the plan is no longer being offered. - Coming off a Medicare Advantage Plan due to moving out of the service area
The applicant will need to send a copy of the letter stating that he or she has moved out of the service area. If the applicant cannot get a letter, we will accept proof of the applicant’s prior address (such as a copy of a driver’s license or bill), proof of the coverage the applicant had, and proof that the plan is not being offered where the applicant currently resides. - Coming off a Medicare Advantage Plan during the one-year trial period
the applicant wants to go back to Original Medicare within the first year of joining Medicare Advantage or the former Medicare Supplement insurance plan is no longer available)We will need an applicant-signed statement or copy of the disenrollment statement/letter to the Medicare Advantage carrier that states the applicant has requested to be removed from their plan.
For your convenience, there is a fillable Medicare Advantage disenrollment statement/letter that can be used for this documentation.
If the Medicare Supplement insurance plan is no longer available, we will also need a copy of the plan discontinuation letter or proof that the plan is no longer available to the applicant.
- Coming off a Medicare Advantage Plan for being misled
The applicant will need to send a copy of the letter from Medicare giving the applicant permission to leave the Medicare Advantage Plan for being misled. - Coming off group coverage
The applicant will need to send a copy of the termination letter of coverage from the employer or group carrier.
As your Medicare Supplement carrier, we want to provide you with the tools to have a successful AEP season. If you have questions, please contact Transamerica’s Sales Desk at 888-668-0335.
Five Tips to Avoid Medicare Supplement Application Delays
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