2022 Medicare Premiums and Deductibles

2022 Medicare Premiums and Deductibles

2022 Medicare Premiums and Deductibles
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CMS has announced the Medicare 2022 Parts A & B premiums and deductible changes. Medicare Part B premiums for 2022 are increasing from $148.50 to $170.10 a month. For those higher-income earners, the amounts are also going up across the board. 

See the announcement by visiting CMS.gov. Some other changes include the Part B deductible increasing from $203 in 2021 to the new $233 for 2022. 

For all your Medicare questions reach out to the Pinnacle Financial team today at 800-772-6881 x-7731 or email Healthsales@pfsinsurance.com

For more information, contact a Pinnacle Financial Services representative today

1 (800) 772-6881 x7731 | sales@pfsinsurance.com

Vice President | Marketing & Business Development

Contact a Pinnacle Representative if you have any questions.

1 (800) 772-6881
support@pfsinsurance.com

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What is Humana Pharmacy?

What is Humana Pharmacy?

What is Humana Pharmacy?
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What is Humana Pharmacy?

What is Humana Pharmacy? This has been a common question that is coming up more and more, especially over the past year. Since the start of the COVID-19 pandemic, there has been a growing number of people that are now utilizing mail-order pharmacies. Humana is one of the top Medicare Advantage carriers in the country and has implemented excellent programs like the member care assessment (MCA) and Humana Pharmacy to ensure member retainment.

Mail-Order Pharmacy

Before we discuss Human’s mail-order pharmacy, it’s important to know what a mail-order pharmacy is. Most major carriers have a mail-order option available. This allows the client to get a 90-day prescription delivered directly to their door typically receiving an even better discount doing so.

What are Humana Pharmacy Benefits?

Some of the Humana Pharmacy benefits include:

  • Safe and time-efficient- No need for your client to go to the pharmacy and wait in line. Minimum exposure while getting reminders when it’s time to reorder medications.
  • Cost Savings- Many Humana plans offer this as a preferred cost-share pharmacy. This means $0 copays of tier 1 and 2 generics with a 90-day supply for most drugs. The pharmacy team is also always working with the client and doctor to find more cost-efficient drug options.
  • Quality- The client’s prescriptions are double-checked for accuracy and ensured they are shipped in tamper-resistant bottles (refrigerated with icepacks where necessary). Prescriptions are also delivered in plain packaging so there’s no need for the client to worry about privacy issues.

What Can a Client Get Using Humana Pharmacy?

Client’s can get a variety of things through the Humana Pharmacy such as:

  • Maintenance Medications-Examples include prescriptions used for high blood pressure and cholesterol.
  • Specialty Medications- These are typically condition-specific for complex illnesses like psoriasis or cancer.
  • Diabetic Testing and Injection- Supplies like glucose meters, lancets, and test strips.
  • OTC (Over-The-Counter) Supplies- Items include vitamins, cold and flu medications, and even first-aid materials. Members on certain Medicare Advantage plans can even get a monthly or quarterly allowance included in their plan benefits. (2021 OTC Catalog Here)

Where does Pinnacle Financial Services come in?

Pinnacle Financial Services is a full-service “FMO” that offers you the best technology in the business while giving you options as well. We are the only FMO in the country that offers BOTH Connecture and Sunfire platforms simultaneously to choose from for online enrollments. We also offer the best back-office support in the business, guaranteed lead programs, and give you access to over 150 different carriers in every area of the senior market to choose from. I am the national agent trainer here and I am dedicated to helping agents learn anything that will help take their business to the next level. Before you know it, AEP (Annual Election Period) will be here, and you need a partner that is committed to growing your business. Don’t hesitate and call us today!

Need Medicare leads? Learn about our Per-Piece Lead Program

For more information, contact a Pinnacle representative today at 1 (800)-772-6881 x7731 or email sales@pfsinsurance.com.

For more information, contact a Pinnacle Financial Services representative today

1 (800) 772-6881 x7731 | sales@pfsinsurance.com

National Director of Agent Training

Contact a Pinnacle Representative if you have any questions.

1 (800) 772-6881
support@pfsinsurance.com

Contact Us

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LTC Awareness Month – Hybrid Life & Annuity Options

LTC Awareness Month – Hybrid Life & Annuity Options

LTC Awareness Month – Hybrid Life & Annuity Options
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November is LTC Awareness Month! What is Long-Term Care Insurance?

LTC insurance helps pay for the costs associated with long-term care. Long-term care insurance covers care generally not covered by health insurance, Medicare, or Medicaid. LTC Claims are paid based on Activity of Daily Living or ADL Impairment. Once an insured is deemed unable to perform 2 out of 6 ADLs by a certified physician, claims will be paid.

Activities of Daily Living (ADLs) –

Individuals who require long-term care are generally not sick in the traditional sense but are unable to perform two of the six activities of daily living (ADLs) such as dressing, bathing, eating, toileting, continence, transferring (getting in and out of a bed or chair), and walking.

LTC Risk Today – 2021

Long-term care is an issue today more than ever because people are living longer. As people age, many times they need help with everyday activities of daily living or require supervision due to severe cognitive impairment. This impacts women even more since they tend to live longer than men, and often become caregivers to others.

Traditional Long-Term Care

We have several traditional LTC options with A-rated carriers. Clients can buy LTC as a single person, or as a joint policy with their spouse. Married couples will receive marital discounts whether both apply or just one. Clients generally pay premiums over a lifetime although we do have limited payment options.

Hybrid Life & Annuity LTC Options

Most of the LTC planning today is done using hybrid Life & Annuity products. Click here for more info on the costs of LTC and how Hybrid plans are footing the bill.

Life LTC Hybrid

Life insurance with Accelerated Death Benefit for Chronic/Critical/Terminal illness. Some will accelerate the full Death Benefit while others are limited. More involved LTC Riders can be added with some carriers. Premiums can be paid systematically or in a lump sum. Click Here for a recent webinar we did with Lincoln Financial on their MoneyGuard Life LTC Hybrid.

Annuity LTC Hybrid

Generally require a lump-sum premium. Many of the guaranteed lifetime income annuities offer income enhancements for LTC. Some are for the nursing homes only while others cover home care as well. Some annuities have more robust enhancements than others so picking the right product for the client is important. Click here for info on NEW exclusive Nationwide PEAK 10 Annuity.

LTC Quoting Tool

Every agent can quote LTC on our website for free. Visit – https://pfsinsurance.com/services/quoting

LTC Whitepaper & Fact-Finder

Contact us for complementary LTC Whitepaper and Fact-Finding Tools.

Life, Annuity, & LTC Pre-Set Appointment Program

We provide agents with pre-set appointments with State and Federal employees at a very low cost. This program sets exclusive appointments with pension-eligible employees. No commitment or up-front cost. Can be on appointment and selling very quickly. Pre-Set Appointment Best Practices

Are you new to Life, Annuity, and/or LTC Sales?

If you are just getting started with Life, Annuity, and/or LTC products or are just learning about them, click here for more info. Training is provided on products, fact-finding, selling concepts, etc.

For more information, contact a Pinnacle Financial Services representative today

1 (800) 772-6881 x7731 | sales@pfsinsurance.com

Assistant Vice President | Life & Annuity

Contact a Pinnacle Representative if you have any questions.

1 (800) 772-6881
support@pfsinsurance.com

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What is the SECURE Act?

What is the SECURE Act?

What is the SECURE Act?
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 The SECURE Act, which was officially enacted on Jan. 1, 2020, is now the largest retirement reform to impact the economy since the Pension Protection Act of 2006.

The SECURE Act has brought significant change to the beneficiary payout options of IRAs and other qualified accounts. Secure Act did not change the payout rules for beneficiaries of nonqualified annuities (both deferred and immediate).

For the beneficiaries of nonqualified annuities, the potential wealth transfer effectiveness of life expectancy-based payments is still a tool that we can use to meet inheritance planning goals.

In regard to Non-Spousal Inherited IRAs (Qualified Money), Nationwide Peak 10 could be a solution for these cases. Please note, for most individual non-spouse beneficiaries the payout requirement is 10 years when the owner dies in 2020 or thereafter. There are several exceptions that still allow a life expectancy-based payout:

  • Spouses
  • Minors
  • Individual with disabilities
  • Chronic Illness
  • Individuals that are less than 10 years younger

A great solution for retirement planning to fit these needs is the Nationwide Peak 10 fixed index annuity. Several things to keep in mind when positioning Nationwide as a solution:

  • With Peak 10 being a 10-year contract, the purchase of the new annuity needs to happen in the same year of death. From a Suitability perspective, Nationwide would be unable to accept this business if the death occurs in the prior year (10-year rule and Peak 10 being a 10-year contract).
  • Account must be liquidated by 12/31 of the 10th year after the owner’s death.
  • Life expectancy payouts may continue where the owner died prior to 2020
  • The 10 Year Rule does not require annual or periodic distributions
  • Spousal Protection Feature is available on these contracts
  • Living Benefits are not available

The annuity team at Pinnacle Financial Services is here to assist with all your case design solutions.

Reach out to a team member at 800-772-6881 x-6003 or email annuity@pfsinsurance.com

For more information, contact a Pinnacle Financial Services representative today

1 (800) 772-6881 x7731 | sales@pfsinsurance.com

Vice President | Marketing & Business Development

Contact a Pinnacle Representative if you have any questions.

1 (800) 772-6881
support@pfsinsurance.com

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Medicare Compliance

Medicare Compliance

Medicare Compliance
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When it comes to selling Medicare products especially Medicare Advantage CMS regulates it heavily. Pinnacle Financial Services has a great Medicare Compliance Department and trainers to make sure you know the Do’s and Don’ts. 

Medicare Scope of Appointment

Scope of appointments is formed outlining the exact products you will be presenting to a client. These are required for all Medicare Advantage and Prescription Drug plan sales. They need to be signed before an agent can even talk about carriers or plan details. 

Medicare Certifications

Medicare Certifications are required to be able to offer Medicare advantage products. AHIP is the first step. This is a general Medicare Advantage test that goes over compliance and CMS rules. Once AHIP is complete then you need to complete carrier-specific certifications. These go over the carrier rules and products. These need to be completed every year before AEP. 

Medicare contracting

Give pinnacle a call today to make sure you are set up with all the carriers you need. You have all the supplies orders in and your leads have been placed. 

Medicare Advantage Leads

On October 8, 2021, the Centers for Medicare & Medicaid Services (CMS) issued updated guidance pertaining to the compliance and regulations of third-party marketing of Medicare Advantage plans. 

Pinnacle Financial Services has clarified this new guidance and ensures our collective activities continue to uphold the highest standards. For details on the announcement please click here: 

The team at Pinnacle Financial is here to help. Contact us with any questions on your Medicare compliance questions or concerns. 

We can be reached at 800-772-6881 or compliance@pfsinsurance.com 

For more information, contact a Pinnacle Financial Services representative today

1 (800) 772-6881 x7731 | sales@pfsinsurance.com

Director of Sales | Health

Contact a Pinnacle Representative if you have any questions.

1 (800) 772-6881
support@pfsinsurance.com

Contact Us

Contact a Pinnacle Financial Service representative today for assistance.

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Social Media Marketing

Social Media Marketing

Social Media Marketing
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With the Covid-19 pandemic, social media marketing has become a staple way for sales professionals to generate leads via the internet. Social media can include but is not limited to, websites such as Facebook, Instagram, Twitter, Google Business, and even TikTok. Although they can totally vary on implementation, their end goals are all the same: LEADS.

What Platforms Should You Use

It is important to choose the right platforms that make sense for your client base. As a Medicare marketer, for instance, Facebook has been the go-to platform. From a demographic perspective, Baby boomers have been growing on utilization of the Facebook platform. In fact, according to a study published by Statista as of 2019, 68% of Baby boomers are on Facebook. This number will only continue to grow, making that a perfect sales opportunity in the senior market. This is just an example of ensuring you are using the correct platform for your market.

Social Media Marketing: Tips and Tricks

Below are a few tips and tricks to help with your social media marketing efforts:

  1. Stay consistent. Ensure you are posting on a regular basis. Make sure you are posting content whether it be images, company updates, or even regulation changes.
  2. Stay relevant. Content should be relevant to your brand and impartial. Stay away from topics like religion or politics where it can create divisiveness.
  3. As you develop more likes and followers from interested parties, you will need to answer questions and bond with your connections.
  4. Promote your page. Whether you are promoting to your friends, family, or complete strangers, you will need to promote your social media to get engagement. This can be done both organically and by paying for promotions (which can get costly).

Where does Pinnacle Financial Services come in?

Pinnacle Financial Services is a full-service “FMO” that offers you the best technology in the business while giving you options as well. We offer different variations of social media leads from telemarketing to even Facebook! We also offer the best back-office support in the business and give you access to over 150 different carriers in every area of the senior market to choose from. I am the national agent trainer here and I am dedicated to helping agents learn anything that will help take their business to the next level. AEP (Annual Election Period) is here and don’t be last to have an online presence for this year. It is not too late so call us today!

Need Medicare leads? Learn more about our Social Media Selling System

For more information, contact a Pinnacle representative today at 1 (800)-772-6881 x7731 or email sales@pfsinsurance.com. 

Robert Valincius

National Director of Agent Training

For more information, contact a Pinnacle Financial Services representative today

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

Contact Us

Contact a Pinnacle Financial Service representative today for assistance.

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