A blog about Medicare. What you and your employees need to know
Priceless Support at No Cost to You!
Author: Lora Drummond
Medicare Transition Specialist
If you have been following our blog Medicare@Work, you will notice we have been highlighting the advantages of working with a Medicare transition team to help simplify everything Medicare. Whatever level of support you need, a team can provide you with confident guidance from ‘soup to nuts’.
The resounding advantage that comes with working with Certified Medicare Planners™ is the services provided are free of charge. The question that usually follows is,“ Wait! How are you paid then?” Well before I respond to that, let me explain the services you get at no cost to you:
While we can help anywhere in the nation, let’s take the Phoenix-area market as an example of what a transition team can help simplify. There are currently 60 Medigap plans, 31 drug plans, and 56 Advantage plans that Medicare eligibles can select from. Providing tools to simplify comparing all those plans to an individual’s needs would be a true time-saver. So the time we save allows HR teams to focus on other things.
When an employee compares their cost for group benefits, identifies their personal health needs, and compares to Medicare offerings, if it makes sense for them to transition, 9 times out of 10 they see significant savings in making the transition from a group plan to Medicare. Why, because Medicare plans are selected based on individual needs, not based on a group plan offering. Employees and retirees can choose what makes sense to their lifestyle to find a Medicare plan that effectively replaces their group coverage.
The opportunity for savings continues the following year. The same way employees experienced open enrollment on a commercial plan, Medicare offers options to change too. Because of a relationship built with a Certified Medicare Planner™ they can look forward to an annual review providing them the opportunity to change plans as their health and financial needs change. So the benefits relationship they enjoyed for years with their Human Resource partner can continue after transitioning to Medicare.
We recommend managing discussions around exit planning and Medicare education early. Starting before employees are Medicare-eligible helps avoid making decisions which can result in lifelong financial penalties later.
Lastly, employers appreciate unrealized savings on their bottom line when employees move off a group plan. The employer and the employee realize savings together. It’s a win-win when a transition makes sense.
Education = Confidence
There are a lot of choices, opinions, and commercials trying to tell Medicare-eligibles what they should have. Marketing by TV and mail compounds the stress and confusion for making confident decisions. So even if moving off a group plan makes more sense, staying put where it’s familiar and easy will win. This is where educating employees on Medicare arms them with confidence to own their transition decisions.
A Certified Medicare Planner™ will use a Stay or Go Analysis™ to show any savings math for going to Medicare. A Medicare Blueprint Builder™ shows an employee their clear Medicare options.
We have found consistently, that when providing education on Medicare and providing tools that simplify choices, individuals are more empowered with confidence to make decisions. We show them the math, and the Medicare plans pick them.
When you have a single-resource for guidance and education, and the information is coming from a trusted HR source (since you have the benefit tenure with their employees) the partnership leads to confidence.
Certified Medicare Planners™ are the single-source experts you can reach out to for simple or complex questions. Whether it’s an employee planning to retire and past 65 or more complicated scenarios involving disability combined with Cobra! Having a team to banter solutions provides only advantages with no fees for the support!
So, Who Pays Us?
How are Certified Medicare Planners™ paid for the access, tools, and guidance we provide? The insurance companies pay us. If it makes sense for an employee to transition to Medicare, and we have earned the right to enroll them in a plan, that insurance company will pay us when they enroll.
Two important reminders:
- Commissions for Medicare are regulated. So it doesn’t matter who enrolls your employees, they are paid the same. So make sure you get the guidance you need from a trusted source.
- What matters in the decision an employee will make is the confidence and transparency provided. Work with a team that shows all the plans available with no company bias (not just a select few companies), and shows the math to support the decision, AND matches the employee needs to a plan so the most appropriate plan picks them.
Want to avoid all the Medicare hassles? Consider partnering with a Medicare Transition Team. Maybe one with Certified Medicare Planners to help your employees. Certified Medicare Planners are trained to provide the tools and technology your employees need to confidently transition to Medicare with no penalties or reduction in options.
Having a Medicare transition team creates confidence in your ability to compliantly educate and transition eligible employees to Medicare while reducing costs for your employees and boosting your bottom line.
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