Phone Sales and MAPD/PDP

[MDonovan]

I have recently decided to go out on my own after having worked withMedicare supplement sales for the last 4 years. The company I used to work for only did Medsupps, no MAPD or PDP, and all business was done by phone.

I focus mainly in Medsupps but have certified to sell MAPD and PDP. My goal is always to do what is in the best interest of my client and while I prefer Medsupps, I know there are people who need MAPD due to cost limitations.

My question is for seasoned agents who sell over the phone and offer MAPD/PDP. How do you approach the SOA with your clients? I am a stickler for rules and the last thing I would want to do is risk my license by messing up some little detail. When I have clients who are applying for Meddsupps and they ask for PDP help as well, am I obligated to send them the SOA and wait 48 hours to enroll them? When I spoke to AARP about this they said yes I have to wait but it seems to me that if they broach the subject, why does it differ if they do so on the phone rather than by walking into my office(when you don't have to wait 48 hours)? I would love to know how others who have been offering these products handle this particular situation.

Thanks in advance for any advice you can offer.

 

[benefits365]

Telephonic SOA rule says you don't need a 48 hour cool off, but make sure all your calls are recorded and store for ten years per CMS guidelines. Additionally, AARP is a little more sticky than others. They won't allow cold calls for their supps, for instance, when others do (in most states). I'd tread carefully here. Technically, if the prospect asks, with no coaxing, and you can offer the product, it's safe. That said, my agency doesn't do it.

 

[MDonovan]

I do not have a phone system for recording calls at this time. Do you possibly have any recommendations on that?

Thank you for your reply!

 

[WCMason]

I do not have a phone system for recording calls at this time. Do you possibly have any recommendations on that? Thank you for your reply!

1) Carriers voice SOA if they have it. 2) Paper. I use paper. Works just fine.

 

[BobbyMcGee]

If you're selling UHC, you'll have to print your own.

 

[Iwillpay]

1) Carriers voice SOA if they have it. 2) Paper. I use paper. Works just fine.

Yes some carriers have Telescope which is the best way fo SOA. However if you do a paper scope there is a section to record why presentation was done at the same time.
As long as the reason is compliant then you shouldnt have a problem. Again accurate records are important.

 

[moonlightandmargaritas]

I know there are people who need MAPD due to cost limitations.

By "cost limitations", I assume you mean people who go with a low/no premium MAPD product?

What happens to the "cost limitations" when they have to satisfy a $3,400 - $6,700 out of pocket max?

 

[MDonovan]

Moonlight, trust me I go over this with clients and that is why I am a believer in Medigap over the MAPD. However, if someone really does not want a supplement and is stuck on MAPD, I don't want to lose that potential client simply because I don't offer that service.

Thank you all for your advice. I appreciate your time.

 

[moonlightandmargaritas]

Moonlight, trust me I go over this with clients and that is why I am a believer in Medigap over the MAPD. However, if someone really does not want a supplement and is stuck on MAPD, I don't want to lose that potential client simply because I don't offer that service.

I agree with you 100%. As long as they know, it's their choice. A majority of MAPD folks are lower income...so they may not be that good with money in the first place.

 

[biohammer]

For phone sales i was under the impression that an SOA is not required at all. I could be wrong so check on this. For phone recording I use a program called Call Graph its free and works well but check to make sure you can legally record with only one party consent In my State that is legal so I am not required to notify the other party the call is being recorded. here is the site to check recording laws
rcfp.(org)/reporters-recording-guide/state-state-guide - Remove the parentheses