Welcome to another edition of Agility – Word on the Street, our weekly newsletter designed specifically for you, our Key Partners. As we move through the selling season, we’ll continue to share important insights and trends each week. Today we are going to look at 5 OE/AEP things to look out for, Intel and news and then a plan for how to structure your renewals in the riches are in the niches.
1. Short Term health plan changes to take advantage of
Any short term health plan effective September 1, 2024 or later is now limited to a 4 month window, including renewals. Look out for folks and if you are online marketing, use keywords such as short term plan replacements and short term plan alternatives. This is an opportunity for ACA brokers to monopolize on.
2. More states will offer their own subsidies this year
Nine states offer state-funded subsidies that are in addition to the federal subsidies also available. CA and New Mexico are increasing their subsidies this year and CO is cutting back. These states are California, Colorado, Connecticut, Maryland, Massachusetts, New Jersey, New Mexico, Vermont, and Washington. This could also be a riches in the niches for those of you looking to expand!
3. C-SNP month to month SEP is standing strong
SEP limitations will be implemented in 2025 for LIS SEP’s and D-SNP. However, C-SNP will still have a monthly SEP available. KFF says that C-SNP enrollment was up 45% for 2024. Make sure you are appointed to all of your TAM’s C-SNP plans.
4. Advertising during an election year
It’s more important than ever to think about a solid ground game. Ad spend and driving calls is going to be at an all time premium this year. With a ground game, you have the opportunity to get attention by other, less expensive means. If you’re buying ads for ACA and MA, remember, this consumer is also a key voting demographic, driving up even more spend. Niches will have to be your key here.
5. Word on the Street about Medicare Premium
It’s being reported that the expected Part B premium this year is going to be $185, a 5% increase from last year. They’re also expecting a 2.5% COLA increase this year. The cost of other things increase more than COLA.
The ACA compass is starting to point:
Prices haven’t dropped yet, but we’re starting to hear a lot about
Oscar and Ambetter. Also, Anthem, UHC, Wellpoint, Molina and
AmeriHealth Caritas shouldn’t be slept on. Make sure your appointments
are up to date as Agility may have a few carrier specific bonuses up
their sleeves!Oscar enrollment: Quote and enroll EDE won’t be set up on Sherpa. Make sure you are up to date on the enrollment avenues at Oscar. Here’s a good primer. You can also join our upcoming Oscar training.
5 Stars is hard: For our friends who sell MA in Houston, we’re hearing that KelseyCare Advantage has lost its 5 star rating going into 2025.
The more you know: Agility has training set up for our top ACA partners over the next couple of weeks. Make sure you’re tracking them here.
ICHRA Updates:
There’s a lot of investor interest currently boiling up in ICHRA. Take
Command took $25 million last year and Thatch raised $38 million this
year. There’s going to be a lot of incentives to see this succeed.
Make sure you’re getting your plan together.
This week’s riches aren’t found in a niche market, but in a niche strategy to help you get ahead with your ACA renewals. Don’t be reactive. Be proactive and win!
This year is bringing a lot of price volatility, and if your target market typically falls within the $0 to $10 monthly premium range, you know that premium sensitivity is a key pain point for your members. The best way to get ahead of the curve? A pre-game mapping strategy that sets you up for success before the renewal window even opens.
Step 1: Leverage Agility’s $0 Silver Plan Resource
Once rates are live, Agility will release a document exclusively available to our key partners and agents, giving you line of sight into the $0 Silver plans by county and market. If your membership is very price sensitive, this will help you know exactly where to go and who to pitch.
Step 2: Map Your Client Base by Geography
Take advantage of the geographic data you likely already have at your fingertips—whether that’s in your CRM or even in a simple spreadsheet. Break down your client base by county or region and cross-reference it with the $0 Silver plans available in each area. This step will allow you to quickly identify the best low-cost options for your clients without scrambling for answers at the last minute.
Step 3: Prepare for Efficient Client Conversations
With this strategy in place, you’ll walk into client renewal meetings with a clear direction, allowing you to establish the best plan option from the get-go. This not only builds trust with your members but also helps you complete renewals faster and more efficiently.
Step 4: Go write new business!!!!
By implementing this or any other focused strategy, you’ll position yourself to handle the bulk of renewals with speed and confidence. That leaves you more time to focus on new opportunities and expanding your book of business.
The preparation to put this data together is minimal, but the payoff is huge. For those who execute well, this renewal season can be a breeze.
That’s it for this week! This information helps grow your business and provides value to your partnerships. We’ll see you next week with even more updates.
