2023 Social Security Increase
2023 Social Security is set to increase for approximately 70 million Americans. The cost-of-living adjustment, also known as COLA, will increase 8.7% beginning in January 2023.
2023 Social Security Increase
According to the acting commissioner of the Social Security Administration, Kilolo Kijakzi, 2023’s COLA adjustment is the first time in over a decade that Medicare premiums are not rising and shows that there is more support for older Americans. On average, this increase will equate to more than $140 per month.
Impact on Medicare Agents
Starting in January, along with the decrease in Part B premiums, Medicare beneficiaries are going to have more money in their pockets for the first time in years. This is going to allow agents to be able to offer and cross-sell products that can help cover gaps in their client’s coverage. Life insurance, hospital indemnity, and dental/vision plans are great starting points when discussing gap coverage options. If you utilize a generic scope of appointment (SOA), hospital indemnity and dental, vision, and hearing products can be discussed during your Medicare appointment!
Where does Pinnacle Financial Services come in?
Pinnacle Financial Services is a full-service “FMO” that is dedicated to helping agents across the country grow their book of business. We have a dedicated sales support team, the best training in the industry, and technology to make your sales a breeze. Don’t hesitate, to call our team today to get your AEP jump-started.
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1 (800) 772-6881 x7731 | sales@pfsinsurance.com
Director of Agent Training
Contact a Pinnacle Representative if you have any questions.
1 (800) 772-6881
support@pfsinsurance.com
