Take Advantage of the 2024 Final Rule to increase Your Medicare Advantage Plan and Prescription Drug Plan Sales

The 2024 Final Rule brings more formality and structure to the way agents and brokers must do business. CMS explains these changes as a way to provide better information to beneficiaries and prevent agents from misleading beneficiaries. Overall, the CMS Final Rule for Contract Year 2024 are deemed positive for beneficiaries. These changes challenge us to refine how we position ourselves in the marketplace. We will look at the new rules and discuss how to use them effectively and improve our sales process.

CMS has made the following changes to the TPMO Discloure

Manage How the TPMO Disclosure Influences Your Clients

Use the Scope of Appointment Wait Period As Part of Your Educational Process

Revise Marketing Best Practices For Medicare Advantage Plans and Medicare Part D Plans

Three MoreThings You Should Know About the 2024 Final Rule

The Centers for Medicare & Medicaid Services (CMS) finalized the Final Rule for Contract Year 2024, outlining key changes that will impact sales processes. These changes include modifications to the third-party marketing organization (TPMO) Disclaimer and additional requirements for independent agents. Outside of the Disclaimer statement itself, agents are free to clarify the significance of the Disclaimer language.

CMS has made the following changes to the TPMO disclaimer:

Added a requirement that TPMOs must state, “We do not offer every plan available in your area.” if they only sell for some, not all of the MA organizations or Part D sponsors in a service area.

In addition to these changes to the TPMO disclaimer, CMS has also added the following requirements for independent agents:

The changes to the TPMO disclaimer are particularly significant, as they require TPMOs to be more transparent about their business practices and to provide beneficiaries with more information about the plans they offer. This is presumed to help beneficiaries make more informed decisions about their Medicare coverage and avoid being misled by marketing claims.

Revise Marketing Best Practices for Medicare Advantage Plans and Medicare Part D Plans

The changes to the requirements for independent agents are also significant, as they will require agents to follow “best practices” when marketing Medicare plans. Many of those best practices were included in enrollment materials previously. Some of the “new best practices” are refinements of existing materials and streamline the sales presentation. However, we must be consistent in going through every element of the

Manage How the TPMO Disclosure Influences Your Clients

Use the Scope of Appointment Wait Period as Part of Your Educational Process

Three MoreThings You Should Know About the 2024 Final Rule

Overall, the changes to the CMS Final Rule for Contract Year 2024 requires us to follow a more structured approach to our sales process. One benefit is the disclosure of our contacted organizations. This strengthens our marketing materials nicely. We must be sensitive to the potential for audits of our recorded conversations. We should review what is and is not considered compliant topics.

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