NEW BUSINESS GUIDELINES:
The changes above apply to applications signed or submitted through Annuity e-Biz on or after May 23.
Helpful Links:
When did you last visit our Instructional Toolkit on the Molina Agent Center? Our invaluable toolkit provides you with educational resources for enrollment, HRAs, member and provider information, CMS programs and policies, and certification links and resources. We save you valuable time by compiling all these in one place on the Molina Agent Center.
Is there an instructional item you’d like to have but don’t see on this list? Let us know by contacting SalesComms@MolinaHealthcare.com!
We made enhancements in January — did you see the upgrades to ForeIncome II’s optional Guaranteed Income Builder Benefit which adds 12% to the Withdrawal Base for up to 10 years and the 12% increase to contract values on Day 1 with ForeAccumulation II with the optional Premium Enhancement Rider?2 Now there’s more on the way.
We’re thrilled to add these new features to our suite of products:
Whether your clients prioritize income or accumulation, comprehensive upgrades to our core products deliver more of what they want.
Due to changing industry dynamics, we’re discontinuing administrative fee payments for completing the health risk assessment (HRA) survey with your clients.
This change applies for all enrollments (MA, MAPD, D-SNP) submitted on and after June 1, 2024, for effective dates of July 1, 2024, and beyond.
We’re here to support you
Aetna is the brand name used for products and services provided by one or more of the Aetna group of subsidiary companies, including Aetna Life Insurance and its affiliates (Aetna).
Prior to engaging in the sale of Aetna Medicare products, producers must be ready to sell, which means certified, contracted, licensed in the applicable states, and appointed by Aetna in accordance with state law. As permitted in certain states, Aetna will order appointments after the first sale. This communication is intended for use by brokers only and is not intended for distribution to Medicare beneficiaries. Any publication or distribution of this communication to unauthorized recipients without Aetna’s approval is prohibited.
We remain committed to providing the best possible care and service to our Medicare members. And we appreciate your ongoing partnership.
Please connect with your local Aetna Medicare Broker Manager to learn more about plans and benefits in your area.
New Rulemaking Package Ignores Industry Concerns, Puts Independent Annuity Professionals and Clients at Risk
Today, the U.S. Department of Labor released the final version of its “Retirement Security Rule.” After an initial review of the fiduciary rulemaking package as detailed in the Fact Sheet, it appears that the Department failed to make any substantive or meaningful improvements to the proposed rule despite significant, specific, and data-supported feedback from industry stakeholders. As a result, financial services professionals face a new regulatory regime that imposes a blanket fiduciary threshold for recommending an annuity in a rollover transaction. Moreover, the DOL has largely left intact a constrained and practically unworkable PTE 84-24, a prohibited transaction exemption that has served both retirement savers and those giving financial advice for decades.
“Though disappointing, the release of this final rule is unsurprising,” said Chuck DiVencenzo, NAFA’s president and CEO. “It has been obvious from the outset that the DOL was intent on continuing its quest to push the regulatory boundary of IRAs past the original Congressional intent of The Employee Retirement Income Security Act of 1974 under false pretenses supported by back-of-the-napkin calculations.
“The process has been marred by a paucity of meaningful engagement between the DOL and industry stakeholders. Instead, the Department has dangerously rushed to put into effect a rule that disregards the value of independent distribution, the desire for Main Street savers to work with the professional service providers of their choosing, and the need for products that can provide predictable lifetime income. Ultimately, we anticipate more confusion, higher costs, and less financial security for low- and middle-income savers who need it most.”
NAFA has issued a press release in response to this reckless endeavor. Additionally, NAFA CEO Chuck DiVencenzo articulated his thoughts in an impact statement released on LinkedIn.
In the days ahead, NAFA will work in close partnership with its membership, industry trade association colleagues, and legal counsel to conduct a comprehensive analysis of the final rule. We will issue additional education and guidance in various formats, including through a summary guide and a deep-dive webinar of important rule provisions impacting independent distribution. Simultaneously, we will now pivot to all necessary and available avenues to fight this regulatory overreach.
Please continue to watch your inbox for updates and join NAFA in support of our ongoing education, advocacy, and integration efforts. The future of our products and our livelihoods depend on it.
NAFA, the National Association for Fixed Annuities, is the premier trade association exclusively dedicated to fixed annuities. Our mission is to promote the awareness and understanding of fixed annuities. We educate annuity salespeople, regulators, legislators, journalists, and industry personnel about the value of fixed annuities and their benefits to consumers. NAFA’s membership represents every aspect of the fixed annuity marketplace covering fixed annuities sold by independent agents, advisors and brokers. NAFA was founded in 1998. For more information, visit www.nafa.com.
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