Can't Beat Free

[jdeasy]

The carriers are up to their necks trying to process the apps from AEP and are not worried about updating policy that is liberalized. They only move to issue changes that constrict agent activities.... they may or may not change company policy in this regard.

My point is: there is a distinction between CMS regs and company policy. Companies can never make policies less restrictive than federal regulations, but are at liberty to make them more restrictive. So if the regs are relaxed, they are free to keep the restrictions on the books for their internal policy, and may or may not bring them down to the new level. It depends largely on how much they think it will impact sales, or perhaps please some heavy handed manager.
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I meant to bring this up before... the word "free" is a no-no in MA plan discussions. It would be interesting to find out where this client picked up on the word "free". CMS specifically forbids using this term. If this agent blatently used this term in his presentation, he should be reported.

This thread illustrates why the use of the term "free" is inappropriate. The beneficiary is still subject to co-pays. Using "free" to describe the plan is a misrepresentation.

I understand what you're saying, but, I have seen nothing from CMS that says the 48 hour rule has been waived when you first meet with a client for life insurance.

As far as companies being more restrictive, indeed that's true. Pyramid still has their sales prevention procedures in place. They still say you must have the SOA in hand before the meeting.

I'm not saying you are wrong, in fact, I hope you are right. I just haven't seen it anywhere else.

 

[retread]

I understand what you're saying, but, I have seen nothing from CMS that says the 48 hour rule has been waived when you first meet with a client for life insurance.

As far as companies being more restrictive, indeed that's true. Pyramid still has their sales prevention procedures in place. They still say you must have the SOA in hand before the meeting.

I'm not saying you are wrong, in fact, I hope you are right. I just haven't seen it anywhere else.

Keep in mind that CMS wrote these regulations for MA agents. If you are selling a Life insurance product and the subject comes up about MA plans, initially CMS had us insist on another appointment 48 hrs later. After being upbraided about the stupidity of this requirement, they backpeddaled, but did not issue a clarification... just silently changed the SOA form to not be so heavy handed. You MUST read the new SOA without reading the old comments into it. Secondly, there have been MIPPA clarifications, not all of which has been distributed to agents. Carriers have been apprised of the changes, and some have promulgated that info in new company bulletins. Others haven't. What you then pick up is the discussion I made in my former post. You have to read between the lines.