October 24, 2011
Big news in the Medicare market today…
Cigna and Healthspring announced that Cigna will pay around $3.8 billion to buy HealthSpring in a deal that is expected to close in the first half of 2012. In the agreement approved by both companies’ board of directors, Cigna will pay $55 per share in cash for the Nashville, Tennessee based company. Cigna representatives said that the price represents a 37% premium over Friday’s closing price of $40.16.
“HealthSpring is a great fit with Cigna’s growth plans to expand into the Seniors and Medicare segment through a premier business and trusted brand name,” said David M. Cordani, President and Chief Executive Officer. “Our two companies share a common strategic vision and philosophy that we create customer value by partnering with health care professionals, and use information and incentives to deliver high-quality, differentiated programs.”
I’m sure each company will release more information in the coming days. Typically, everything will stay “business as usual” until the buyout is complete. I assume that will be the case with HealthSpring’s Medicare Advantage Plans and Cigna’s Part D Plans.
Read the full story here.
Leave a Comment » | 
CIGNA, HealthSpring, Industry News | Tagged: HealthSpring, Medicare Advantage, Medicare Part D, Medicare Supplement, UnitedHealthcare Medicare | 
Permalink
Posted by Ryan Kimble
October 12, 2011
We recently sent out several email blasts letting agents know how to pre-order enrollment kits. Below are links to those emails for companies that have provided their order procedure details. Carriers continue to provide us with information. Be sure to check back for updates.
To view these emails you must be subscribed to our mailing list. If you are not currently subscribed, Subscribe Today! We do not share or sell our lists. Once you click subscribe, enter your email address, check your mail and click reply to be activated.
Aetna
Arcadian
Anthem
Coventry
HealthSpring/Bravo
Humana
UnitedHealthcare
WellCare
Windsor/Sterling
Leave a Comment » | Aetna, Agent Updates, Anthem, Arcadian, Bravo Health, Coventry Health Care, HealthSpring, Humana, UnitedHealthcare, WellCare, Windsor Sterling | Tagged: AEP, AEP Enrollment Kits, Annual Enrollment Period, Enrollment Supplies, Medicare Advantage | Permalink
Posted by Ryan Kimble
September 23, 2011
CIGNA emailed appointed agents instructions on how to certifiy to sell CIGNA Medicare products before the 2012 AEP begins on October 15. As usual, agents must successfully certify prior to marketing or selling CIGNA Medicare products; this means completing the required lessons and passing the exams with a score of 85% or better. CIGNA allows agents to take each exam up to three times in order to certify to sell their products for the 2012 selling season. In their announcement, CIGNA reminded agents that completion of certification is required to receive any commission. Below is a quick list of requirements and what to expect when you visit the CIGNA training and certification site:
Certification Requirements:
- All agents must complete Lesson 1 or provide his or her 2012 AHIP Certification
- Agents who wish to sell the National PDP must complete Lesson 2
- Agents who wish to sell the Arizona MAPD must complete Lesson 3
The lessons for 2012 include:
- Lesson 1 2012: Medicare Overview and Compliance
- Lesson 2 2012: National Part D Product Overview
- Lesson 3 AZ 2012: Arizona MAPD Product Overview
The username and password to access the site is the same as CIGNA’s previous training site. If you need help with the site contact the CIGNA University Help Desk at 1-866-228-1920 between 8:00 a.m. – 8:00 p.m. EST, Monday through Friday, or send an email to CIGNAuniversity@gpworldwide.com.
Once you have completed and passed the 2012 AHIP training, there are two ways to transfer this to CIGNA:
- Fax your 2012 certificate with your CIGNA Agent ID written on top of the document to CIGNA at (248) 729-2364. Before faxing the certificate, make sure to download the mandatory fax cover located on the website at https://producertraining.cigna.com.
- Scan and email your certificate to CIGNAuniversity@gpworldwide.com. Again, be sure to write your Agent ID on the certificate before you send it.
2 Comments | Certification, CIGNA, Medicare Advantage, Medicare Part D | Tagged: AEP, Annual Enrollment Period, CIGNA, CIGNA Medicare, CIGNA Medicare Certification, Medicare Certification | Permalink
Posted by Ryan Kimble
September 22, 2011
Aetna Medicare has announced that it will reimburse the $100 certification registration fee for those who complete the following requirements by October 1, 2011:
1. Pass all 4 requirements of Aetna’s 2012 Individual Medicare Producer Certification Program, including AHIP certification and an Aetna Individual Medicare product tutorial. Visit Aetna’s Producer World site to learn more.
2. Complete all Aetna license and appointment requirements.
3. Attend a local or in person training session. Go to Aetna’s certification website to find a training session near you or download the Training Schedule PDF from our website. You must be logged into AgentPipeline.com to view the document.
AHIP certification is one component of Aetna’s Individual Medicare Producer Certification Program. When completed as part of your Aetna Medicare Individual Producer Certification, the cost is $100. That’s $50 savings off the regular price, and there is an opportunity to earn reimbursement for the $100 registration fee.
If you choose to transfer your AHIP certification to Aetna, you will just need to complete the remaining 3 requirements to finish the certification. The $100 registration fee does not apply to those who transfer their AHIP certification to Aetna and reimbursement is only available to producers who complete their AHIP certification with Aetna.
3 Comments | Aetna, Certification | Tagged: Aetna, Aetna Certification, Aetna Medicare, Medicare Certification | Permalink
Posted by Ryan Kimble
August 30, 2011
Arcadian Health Plans announced on Thursday, August 25th, they signed a purchase agreement with Humana, Inc. for an undisclosed amount. With approximately 64,000 members, Arcadian offers Medicare Advantage plans in 15 states throughout the country. This deal will take several months, but should be completed before the end of 2011. Arcadian will operate business as usual and will continue to work with independent brokers to offer competitive Medicare Advantage plans during the upcoming AEP.
Humana is one of the largest companies in both the senior and underage markets and currently has a footprint in all 50 states and Puerto Rico and had nearly $33.9 billion in revenue in 2010.
I am including a few links below to news articles posted by the Wall Street Journal and Forbes related to the upcoming acquisition. I’ve also included a link to Humana’s Press release:
Leave a Comment » | Arcadian, Humana | Tagged: Arcadian Health Plans, Humana, Medicare Advantage | Permalink
Posted by Ryan Kimble
June 14, 2011
Great News!
Aetna announced yesterday that CMS has lifted their marketing and enrollment sanctions for Medicare Part D and Medicare Advantage plans. Below are links and a quote from Aetna on the announcement.
Here is a link to Aetna’s press release.
Here is a link to an Associated Press article.
“We are pleased by this news,” said Aetna Chairman, CEO and President Mark T. Bertolini. “We have worked very hard to implement improvements to a number of areas that will further support beneficiary access to care, patient safety and compliance with CMS guidelines. Most important, our actions will enhance our ability to support the nearly 1 million Medicare beneficiaries we are privileged to serve today.”
Interested in learning more about Aetna’s 2011 Medicare Advantage and Medicare Part D plans? Please contact us or reply to this post and we will send you information on your market.
If you are currently appointed with Aetna through our office, you will receive updates and instructions from us this morning via email.
2 Comments | Aetna, Medicare Advantage, Medicare Part D | Permalink
Posted by Ryan Kimble
June 13, 2011
BIG NEWS in the Medicare Supplement Market.
In an important move in the Medicare Supplement market, Aetna has announced today that they have entered into an agreement with Genworth Financial to acquire Genworth’s Medicare Supplement block of business. According Aetna’s CEO and President, Mark T. Bertolini, “By acquiring this business, Aetna will significantly expand its footprint in the Medicare Supplement business”.
I’m sure Genworth will send out an “agent update” to answer questions regarding purchase.
Here is a link Aetna’s press release.
I’ll keep this post updated with new information as it is released.
UPDATE:
It looks like its all good news. Basically, Aetna is buying Continental Life of Brentwood Tennessee and American Continental Insurance Company from Genworth. Aetna will become the new “parent” company and operations in Brentwood, TN will stay business as usual.
5 Comments | Aetna, Medicare Supplement | Tagged: Aetna, Genworth, Medicare Supplement | Permalink
Posted by Ryan Kimble
April 28, 2011
As expected, WellPoint reported strong results for the first quarter 2011.
Interestingly though, there are only a couple mentions of WellPoint’s Medicare (Senior) business on their most recent earnings call. First, WellPoint saw higher than expected growth in their Medicare Advantage enrollments. For those of you who sold their plans, WellPoint’s enrollment growth was probably a no brainer. Their Medicare Advantage plans were extremely competitive in states like California, Ohio, Virginia, and New York. Below is a quote from the call:
Enrollment in our Senior business was also better than we expected in the first quarter, increasing by 73,000 members, predominantly in our Medicare Advantage plans.
Secondly, WellPoint discussed enrollment results from its website and electronic sources. I found this number very interesting. At first it may be a surprise, but it goes to show that more and more seniors are going online to compare, shop and buy their Medicare Coverage.
Our recently launched online stores for the senior market proved very popular during this year’s annual enrollment period. Over 20% of Medicare applications came into our plans through electronic sources, and we delivered more than 225,000 quotes online for our Medicare Advantage, Medicare Supplement and Medicare Part D product offerings.
Below is a link to the transcripts from the earnings call.
Earnings Call Transcript
Leave a Comment » | Medicare Advantage, Medicare Part D, WellPoint | Tagged: Anthem, Medicare Advantage, Medicare Part D, WellPoint | Permalink
Posted by Ryan Kimble
April 26, 2011
CSG Actuarial recently published a research paper entitled “Medicare Supplement: 2010-2020 Market Projection”. In this research paper, CGS analyzes Medicare Supplement policy numbers from the past five years and gives projections on the growth of policies through 2020.
First off, if you sell Medicare Supplements, you should read this report. CGS does a great job of explaining the market. It’s packed with easy to understand information, graphs and data tables. It only takes about 15 minutes to read and it gives you a better understanding of who is buying Medicare Supplements and why.
If you don’t have 15 minutes, below are my “CliffsNotes”:
The total number of Medicare Supplement polices has declined over the last five years. CGS suggests three reasons for the decline:
- Medicare Advantage enrollment increased from 4.8 million (2004) to 11.9 million (2010).
- The cost of Medicare Supplement plans has increased since 2004.
- The number of Medicare Part B beneficiaries has decreased.
Despite the declines of Medicare Supplement polices of the last five years, CGS concludes there will be a year over year increase in policies through 2020. They list four primary opportunities for growth:
- Baby Boomers
- Medicare Advantage Reductions
- Decrease in Retiree Health Benefits
- New Medicare Supplement Plans
I’ve only posted a high level summary. CGS’s research paper goes into more detail and provides data for each of the reasons and opportunities listed above. Trust me; it’s worth the time to read it.
Leave a Comment » | Agent Updates, Industry News, Medicare Supplement | Tagged: CGS Actuarial, Medicare Supplements | Permalink
Posted by Ryan Kimble
April 20, 2011
Here is some good news to brighten our day.
The AP published an article last night (4/19/11) outlining the Obama administration’s plan to “ease the pain of Medicare cuts”. The Health and Human Services (HHS) department is going to award quality bonuses to hundreds of plans that only have “average” star ratings. The author compares HHS’s new methodology to grading on a curve.
What does this mean for you and your customers?
For 2012, your customers will likely see benefits stay the same or improve. The Medicare Advantage market is so competitive that companies will have to squeeze in more benefits to make sure they are hitting their enrollment goals. It may also lead to less turmoil in the market place. Sure, some plans are going to exit no matter what HHS does, but there are other plans that need just a little bit more margin to stay in a given market place. It would be a welcome change of pace to not have to move your customers to a new Medicare Advantage plan during the 2012 SEP/AEP.
Below are a couple quotes from the article:
- “The insurance industry says the bonuses will turn what would have averaged out as a net loss for the plans in 2012 into a slight increase.”
- “The net result is that the boat didn’t get rocked.”
Here is a link to the AP article:
Obama administration eases pain of Medicare cuts
1 Comment | Agent Updates, CMS Updates, Industry News, Medicare Advantage | Tagged: CMS, Medicare Advantage | Permalink
Posted by Ryan Kimble
