Producers Are You Certified? Medicare Open Enrollment Period is Almost Here!
Medicare Sales season is almost here. As of October 1st, 2018, Producers can start their marketing for Open Enrollment Period (OEP). Carriers will start taking OEP applications October 15th. Carriers will not send supplies such as applications, enrollment packages, and promotional items to producers until certification is complete.
Insurance producers—regardless of their lines of business or products—often have feeling of dread when it is time to renew their licenses and continuing education certifications as it can be tedious, time consuming, and easy to forget when it’s due. This is even more so in the Medicare space where regulations are numerous and very stringent. As a licensed agent or producer, the requirements include bi-annual continuing education for licensure, annual carrier certification, product trainings, and AHIP/FFM. Additionally, producers must go through a re-certification process for each carrier with which they are contracted. Each carrier has individualized onboarding methods, contracts, and re-certification processes and trainings. The re-certification period can be very stressful for producers and carriers if the onboarding and training processes are not electronic. Carriers can be overwhelmed by the number of new producers trying to certify and re-certify, and producers can get frustrated if they have no clarity and insight into their training progress status. Some carriers sometimes send training information with little time to meet the training deadline which causes additional stress for producers working with multiple carrier.
This year, be strategic with your efforts and tackle the carriers where your biggest book of business exists first as this ensures your biggest return. If you’re new to the game and don’t have existing business, look for carriers that have the best tools and technology to make you successful. Electronic onboarding, commission dashboards, producer portals-where producers can get reminders to update their license and CE exams, update documents etc.—and integrations with training platforms are great tools and often bolster success.
Snr Business Analyst
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