MEDICARE
Sponsored by AGA
Broker’s Guide on Digital Advertising to Seniors
86% of today’s seniors are active online (source), giving healthcare insurance agents a unique opportunity for lead generation through digital advertising to seniors.
To do this successfully, one needs to know their target audience – how long they spend online? What websites do they frequent? How do they speak? What do they want to learn? Understanding the nuances of effective headlines, visuals, and messaging is essential. It’s not just outreach; it’s resonance. Keep reading to get some effective digital marketing tips for your healthcare lead strategy.
Trust, numerous options drive Medicare Advantage plan growth, study finds
Trust and the large number of plan options have helped make Medicare Advantage plans the fastest growing segment of the health insurance market, according to the J.D. Power 2023 U.S. Medicare Advantage Study. There are many reasons Medicare Advantage plans are growing so quickly. First, JD Power’s research demonstrates that, overall, there are high levels of member trust with Medicare Advantage plans, in general, explained JD Power’s managing director, global healthcare intelligence, Christopher Lis. Trust is a key driver of overall satisfaction for health plans, with the top performing plans scoring higher in member trust, he said, adding that the ability to resolve problems or complaints is also a leading factor in retention.
GROUP BENEFITS
Sponsored by Word&Brown
ACA’S 2024 Affordability Percentage Drops to 8.39%
The Internal Revenue Service (IRS) recently announced the Affordable Care Act (ACA)’s affordability percentage for the 2024 calendar year; it will be 8.39%.
This is a relatively significant drop from the 2023 affordability percentage, which is 9.12%. The ACA affordability ratio applies to Applicable Large Employers (ALEs), which are subject to the ACA’s employer mandate. ALEs must use the ratio to determine affordability of the health plans offered to eligible full-time employees, in accordance with ACA law. Note that ACA affordability and most mandates do not apply to non-ALE businesses.
Low-quality health care is costing employers big
U.S. companies are spending big on employees’ health, often with little insight into whether they’re paying for quality care.
Why it matters: Whether patients are given and stick with the best documented course of care — such as statins for heart disease — can have everything to do with what doctor they go to. But the wide variation in care patients receive isn’t just leading to poorer outcomes. It’s also pricey to employers, who have seen health costs soar without necessarily getting a good return on that investment, according to a new report from JPMorgan Chase’s health care arm Morgan Health.
IRS Announces 2024 Health Plan Affordability Threshold
The 2024 health plan affordability threshold is dropping next year.
The IRS announced that the 2024 health plan affordability threshold—which is used to determine if an employer’s lowest-premium health plan meets the Affordable Care Act’s (ACA’s) affordability requirement—will be 8.39 percent of an employee’s household income. That’s down from this year’s 9.12 percent figure. The information was detailed in IRS Rev. Proc. 2023-29, which was released last week.
Here are 22 health systems billing patients for certain EHR and text messages
Online messages have become a linchpin of many patients’ relationships with their doctors.
The digital access points—often baked into patient portals and electronic health record systems like Epic’s MyChart—offer patients the opportunity for quick clarifications about their medication regimen or test results. In more pressing cases, a back-and-forth with their clinician can help patients understand whether their symptoms require an in-person visit or can be managed at home, potentially lightening the load on busy providers.
INDUSTRY NEWS
California pharmacies are making millions of mistakes. They’re fighting to keep that secret
Every year, millions of Californians leave the pharmacy with the wrong prescriptions. Sometimes they’re given dosages that are far too high; other times, they receive the wrong drug altogether. The consequences can be deadly: As many as 9,000 Americans die annually from medication errors.
Rarely does the public learn of the mistakes. The state does not require pharmacies to report errors. Legislators are pushing to change that and make the data more transparent, but the pharmacies are fighting back.
I Set Out to Create a Simple Map for How to Appeal Your Insurance Denial. Instead, I Found a Mind-Boggling Labyrinth.
I spoke with more than 50 insurance experts, patients, lawyers, physicians and consumer advocates about building a tool anyone could use to navigate insurance appeals. Nearly everyone said the same thing: Great idea. But almost impossible to do.
Have you ever had a health care claim denied by your insurer? Ever tried to appeal it? Did you wind up confused, frustrated, exhausted, defeated?
I’ve been a health care reporter for more than 40 years. And when I tried to figure out how to appeal insurance denials, I wound up the same way. And I didn’t even try to file an actual appeal.
Cigna removes pre-authorization requirement for 25% of medical services
Health insurer Cigna Group (CI.N) said on Thursday it would remove the use of prior authorization or paperwork required to get approval for insurance coverage for 25% of medical services. Health insurers have come under pressure as physicians claim that the pre-authorization requirements for some procedures are restrictive and increases their paperwork.
“Clinicians and health plans alike agree that more can be done to reduce the administrative burden on clinicians,” said Scott Josephs, chief medical officer of Cigna Healthcare.
PROFESSIONAL DEVELOPMENT
Special thanks to Russ Williams for his new Professional Development for California Brokers readers.
Through The Clarity Conversation Russ offers readers the chance to work directly with him.
To inquire/set up your 6-month Clarity Conversation Consult
Contact Russ Williams
949-254-5205
centerjcce@aol.com
EXIT PLANNING FOR BUSINESS OWNERS
Sponsored by Strazzeri/Mancini
FEATURED PRESENTATION
The Anatomy, Math and Process of Business Succession Planning
Transitioning a business includes a myriad of decisions and potential transition strategies, which can be overwhelming for business owners. Jeff and Melisa will provide an overview of the business succession process, discuss the pros and cons of each of the 10+ transition options (internal and external), walk through the math from a shareholder perspective, and share a collaborative process to help you and your business owner clients navigate the murky waters.
Presented by: Jeffrey Kates, MBA, CEPA and Melisa Silverman, JD, CEPA, CVA, SBA, CMEA
Gain access to the presentation, supporting video, audio and documents through the
California Broker is pleased to provide this content from the Southern California Institute.
The SCI Academy offers more titles and topics available with the “Basic Free Membership” with free access for California Broker Magazine readers. The SCI Academy is the digital extension of SCI’s Thought Leader Community providing resources, education, and advice via collaborative think tanks, events, programs, online content, and introductions.
“Special Offer for California Broker Magazine Readers”
As a “Basic Member” you will have special alerts and access to live events such as
Thursday Insights, Community Insights, and select recordings.
You will also enjoy discounts for select conferences, programs and products. Additionally, you will have access to Thought Leader Connections and Monday Practice Builders.
To sign up for the “Free Basic Membership” (normally $49/month) Click here:
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We look forward to helping you grow your practice. Thank you for being a member!
COMMISSION COACH
Sponsored by Commission Solutions
Protecting Your Commissions Fact Sheet
Commission protection planning begins with a complete understanding of the facts and the resulting risks when no plan is in place.
No one planning solution fits for all insurance carriers. A succession plan that is health insurance carrier specific is the only way to protect 100% of your health insurance commissions.
While ALL commissions you earn from carriers are at risk, MAPD commission present the greatest risk of total loss.
Many carriers offer the option to transfer your commissions, but you must follow specific rules each carrier has put in writing. Carriers can update their requirements for commission transfers, so you need to monitor these changes and respond with an update to your plan.
Knowing each carrier’s transfer requirements is required to successfully transfer your commissions.
A Carrier’s transfer requirements may change so tracking changes is critical.
INDUSTRY CALENDAR
- Sept. 7, 2023 @ 11:30 am – 1:30 pm PST, What’s New With Life Insurance? Honoring September As Life Insurance Awareness Month,La Cabanita Restaurant in Glendale, 3445 N. Verdugo Road, Glendale, CA 92108, Register
- Sept. 20, 2023 @ 9:30 AM – 2:30 PM, NAIFA Silicon Valley SALES CONGRESS, Sophie’s Banquet Hall, 4035 Evergreen Village Square, Unit 20, San Jose, Register
- CONFERENCES
- Sept. 12 @ 9:00 am PST. CAHIP-OC, Annual CE Day, Lake Forest Community Center, Lake Forest, CA Register
- Oct. 5-6, NAIFA-California’s 2023 Career Advancement Conference, e3, to EMPOWER, ENGAGE, and EXPLORE, Humphreys Half Moon Inn, 2300 Shelter Island Drive, San Diego, CA Register
- Oct. 8-10, 2023 SIIA National Conference, JW Marriott Desert Ridge, Phoenix, AZ Register
- Oct. 22–24, LIMRA Annual Conference, Gaylord National Resort & Convention Center, National Harbor, MD Register
- Oct. 31- Nov. 2 ITC InsurTech Connect, Las Vegas, NV Register
WEBINARS
- Sept. 13 @ 9:00 am PST Warner U | Group Benefits vs Medicare Benefits, Register
- Sept. 21 @ 11 am PST NAIFA Live: Practice Growth and Success, Register through the NAIFA Member Portal
- Sept. 21 @ 1 – 1:30 p.m. ET, LIMRA The Workplace Benefits Report – Second Quarter Review, LIMRA and LOMA Members Only. Register
2024
- March 25-27, 2024, Ellevate Women’s Leadership Summit 2024, JW Marriott Las Vegas, 221 N Rampart Blvd, Las Vegas, NV Register
- May 6-8, 2024, CAHIP, Capital Summit, Kimpton Sawyer Hotel, 500 J Street, Sacramento, CA Register
