To be a compliant Medicare agent, you need to follow the regulations of the states and your carriers, in addition to the Centers for Medicare and Medicaid Services (CMS). You need to take a few steps in preparation before you even meet your first client.
What It Takes to Be Ready to Sell
To be ready to sell as a Medicare agent, you need to be licensed through all states in which you wish to sell health care products. You also need to be appointed to sell the products through the insurance carriers and certified to sell the specific products. Once you meet those prerequisites, you can start to advertise yourself as a licensed agent of Medicare Advantage and Medicare Part D Prescription Drug Plan products.
Get Licensed Through Your State(s)
To sell insurance, you need to become a licensed insurance agent. In Illinois, for example, you need to complete an insurance pre-licensing course, which includes classroom education. The prelicensing education certificates are valid for one year from the date of completion, so you should head straight to the exam once you finish. Once you pass the state licensing exam, you can apply for your state insurance license. Agents are issued a National Producer Number (NPN).
If you want to sell insurance to people who live in multiple states, you will need to become a licensed agent for each of your clients’ states of residence.
Keep your licenses up to date in each state. Many states will require agents to complete Continuing Education credits each year, and renewal varies from annually to every four years.
Contract with Carriers
Once you are a licensed insurance agent, you can contract with insurance carriers. The carriers appoint you to sell their products, which is what allows you to offer them to Medicare beneficiaries. Before you can actually sell the products, your carriers will have you complete specific prerequisite modules or America’s Health Insurance Plans (AHIP) equivalents. For each individual product you want to sell, the carrier will give you additional modules to complete.
To offer a full portfolio for your clients, you should take the time to become appointed and certified for all products of your carriers. This allows you to offer any of these health care plans, which can be especially helpful with Prescription Drug Plans. The more choices you can offer, the greater the chance that one of the plans covers the Medicare beneficiary’s prescription needs.
Are You Ready to Sell?
Before your sales appointments, do a check. Are your state licenses up to date? Are you appointed and certified in each state with your carriers?
Verifying your readiness gives you a chance to review products and go over your portfolio to market and sell with confidence. If you have questions or concerns about specific product modules or certifications, contact your local carrier representative.
