Bishop Marketing Agency Blog

Calculating the Medicare Part D Late Enrollment Penalty

Posted by Lance Hoeltke on Sat, Nov 22, 2014 @ 02:00 PM

One of the more common questions agents get asked from their Medicare clients is "what is the Medicare Part D late enrollment penalty?"  It is fairly easy to explain that if a Medicare member spends more than 63 consecutive days without having Part D or creditable drug coverage, they will be required to pay a late enrollment penalty should they choose to enroll in a Part D plan in the future.  The typical follow-up question is "will I have a late enrollment penalty?"  This is also usually pretty easy to answer, assuming the agent asks the proper questions of the client and the client responds with accurate answers about prior coverage.

Read More

Tags: ICEP, MAPD enrollment, MAPD and PDP membership, MAPD, IEP election period, PDP enrollments, Prescription Drug Plans, Medicare Annual Enrollment Period, Humana MAPD plan, Medicare Beneficiaries, CMS, AEP, Medicare election periods, Medicare AEP, IEP, ICEP election period, CMS guidelines, Medicare Part D late enrollment penalty

Special Election for Medicare Advantage Clients on the Move

Posted by Lance Hoeltke on Mon, Nov 17, 2014 @ 11:24 PM
Read More

Tags: Humana Medicare Agents, Bishop Marketing Agency, selling Medicare Advantage Plans, Medicare choices, MAPD enrollment, MAPD and PDP membership, CMS marketing guidelines, PDP enrollment, Medicare Annual Enrollment Period, Medicare options, Humana MAPD plan, Medicare Beneficiaries, Medicare election periods, Change of Residence

Non-renewing Medicare Advantage Plans: What to do

Posted by Lance Hoeltke on Tue, Jan 08, 2013 @ 08:28 AM

Do you have clients whose Medicare Advantage Plans did not renew for 2013 and have yet to elect a new plan?  They can still pick a new plan, and you can help them do it.  Here are a few things to know in order to make sure your client has a smooth transition to their new Medicare Advantage Plan:

Read More

Tags: Humana Medicare Plans, Bishop Marketing Agency, Humana, MAPD enrollment, MAPD and PDP membership, Prescription Drug Plans, Marketing Humana Medicare Plans, Humana’s Medicare health plans, PDP enrollment, Medicare options, Humana MAPD plan, Medicare election periods, Special Election Periods for MAPD, CMS guidelines

New rules regarding when to use the IEP vs ICEP election code

Posted by Lance Hoeltke on Thu, Oct 04, 2012 @ 12:32 PM

As you know, selecting the correct election period for your client when facilitating an MAPD enrollment is an important step toward ensuring the beneficiary's enrollment form is processed for their proposed effective date. For 2013, there is a change in guidance of when to use IEP vs. ICEP. Let's take a closer look...

Read More

Tags: ICEP, MAPD and PDP membership, MAPD, IEP2, CMS marketing guidelines, IEP election period, Medicare election periods, IEP vs ICEP, IEP, ICEP election period

Ready for a huge AEP? Don't wait until October 15th!

Posted by Lance Hoeltke on Sun, Sep 30, 2012 @ 08:35 PM

 

Read More

Tags: Humana Medicare Agents, Bishop Marketing Agency, selling Medicare Advantage Plans, MAPD enrollment, Marketing Humana Medicare Plans, Medicare Annual Enrollment Period, Humana MAPD plan, selling Medicare products, AEP, Medicare election periods, Medicare AEP

How well do you know your election periods? LIS (Low Income Subsidy)

Posted by Lance Hoeltke on Thu, Jul 12, 2012 @ 10:09 AM
There are about 1.5 million Medicare Beneficiaries taking advantage of the Low  Income Subsidy benefit for MAPD and PDP products (not including Duals), with an  estimated two million additional qualifiers who have yet to apply. 

A LIS qualification also triggers a SEP, and can be validated by member attestation, redetermination letter, or SSA award letter. The SEP is continuous, as long as the beneficiary is eligible for the Part D subsidy. 

For those recently losing their status, the SEPs are as follows:
  • Loss of subsidy at the end of a calendar year yields an election period of January 1 through March 31. 
  • January 1 may be used as a proposed effective date in this case if the enrollment is done prior to the end of the year. 
  • Loss of subsidy occurring at any other time runs similarly to the loss of dual status, beginning in the month in which the beneficiary is notified of the loss, and ending two months following the month of notification.
Read More

Tags: Humana Medicare Plans, Medicare supplement plans, MAPD, PDP, Low Income Subsidy, Humana’s Medicare health plans, Medicare Beneficiaries, Medicare election periods

How well do you know your election periods? Change of Residence

Posted by Lance Hoeltke on Tue, Jul 10, 2012 @ 09:14 AM
I read recently where Dallas, TX is growing so fast it adds one new resident every four minutes! I’m sure a good percentage of those are Medicare eligible, or soon to be. The California’s, Arizona’s, and Florida’s have been aware of this phenomena for many years now, but the relocation and growth of retirement-age citizens is not limited to these markets. Vegas, Boise, Provo, and Colorado Springs are experiencing rapidly growing retiree populations. Albuquerque, NM and Madison, WI also make the top 20.

Many older Americans are heading to markets where their families are located, to be closer to grandchildren, and residing more in suburban communities than ever before. Any permanent move to a new service area generates an SEP for the Medicare beneficiary. If the client is wanting to enroll in a new plan prior to the move, they can complete their enrollment up to one month prior to moving, and designate an effective date up to three months from enrollment. However, the effective date cannot occur until after they have officially relocated to the new service area. If notification occurs before the move, then the SEP runs the month before, plus two months after the move. If notification is made after the move, the member then has two months from notification to make an election. If the member waits until their plan terms them, they then have two months from the plan term to make an election.
Read More

Tags: Humana Medicare Plans, Humana Insurance, Medicare Health Plans, Medicare Advantage, Humana’s Medicare health plans, Medicare election periods, Change of Residence