ODI Agent Licensure Renewal Information

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The following information was originally released by the Ohio Department of Insurance.

Beginning January 1, 2021 the Ohio Department of Insurance will begin sending license renewal notifications via email instead of U.S. Mail.  Renewal notification emails will be sent approximately 90 days, 60 days, and 30 days prior to an agent’s license expiration date to email addresses on file with the department.

This is a departure from the previous notification schedule, which included a 90 day licensure renewal notification via U.S. mail and a 30-day electronic licensure renewal notification.

What Does This Mean for Me?

If your license renews in November 2020, December 2020, January 2021, or February 2021 you will still receive the 90 day U.S. mail licensure renewal notification, as well as the 30-day electronic licensure renewal notification.

If your license renews in March 2021 or after you will NOT receive the 90 day U.S. mail licensure renewal notification. Instead, you will receive three electronic renewal notifications—approximately 90 days, 60 days, and 30 days prior to your license expiration date.

Do I Need To Do Anything? 

Yes! Make sure that your contact information is correct, especially your email address.  Please request contact information updates via the National Insurance Producer Registry’s (NIPR) Contact Change tool.

Contact the Cornerstone licensing department with any questions.

SURPRISE! The First Build Your Brand Webinar of 2021!

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Aaaaaaand we’re back! The 2021 Build Your Brand webinar series has lots of brand-new content and guests! Learn more about brand refresh, copywriting, SEO, design, productivity and more. We will also have some old favorites like social media 101, print advertising, and more.

Coming Up Next Week

Is your brand in need of a refresh or a redesign? Updating your brand identity with new messaging and reinvented visuals will help you increase visibility in your market and can set you apart from the competition.

Join Cornerstone’s Jess Larkin as she talks about how to improve your brand and how to use it in your marketing. The presentation will be recorded for your convenience so you can play it at any time.

Click below to have the webinar delivered directly to your inbox at 9:30 on Tuesday morning.

DATE: January 19, 2021

RELEASE TIME: 9:30 am

Click here to request a recording of the webinar.

Update to the Surprise Billing Legislation from Late 2020

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In late 2020, we reported the good news that the State of Ohio has passed legislation to curtail “surprise billing.” This was great news given that many of the major carriers in the state were paying claims out-of-network for peripheral services related to emergencies, anesthesia, radiology, and pathology services, which are not subject to patient choice in most instances.

The appeals process for these non-network claims to be paid at the in-network benefit level also became more stringent causing a lot of member, client, and broker dissatisfaction, expense, and time to resolve. The new state-based legislation opened pathways to require both insurance companies and providers to come to an agreement on reasonable payments to remove this burden on patients going forward.

The state legislation, however, did not impact air ambulances because they are regulated by the Federal Aviation Administration. While playing a critical role in life and death situations, air ambulances have extremely high costs, which in turn have become a huge patient burden since nearly all are run by out-of-network providers. After the insurance companies paid these claims out-of-network and up to the “reasonable and customary” amount, a Health Affairs study published in April 2020 found that patients received balance bills with a median cost of $21,698!

While there is a lot of frustration and debate about the most recent coronavirus relief package signed by Congress, the $900-billion deal included a nugget that will genuinely help patients in this situation, though not until 2022. The provision forbids surprise bills from hospitals, doctors, and air ambulances. Starting in 2022, providers and insurers will have to settle bills through arbitration under Federal law as well.

The next year will still present challenges for patients who need air transportation. In the meantime, our recourse as brokers is to help members in these situations as much as possible. We must place pressure on insurers to negotiate arrangements that don’t penalize members and on elected officials when and if those negotiations fall through.

Check out this article from Kaiser Health News for additional information about updates to cost transparency.

Resources

https://www.claimsjournal.com/news/national/2021/01/04/301271.htm

https://www.healthaffairs.org/doi/10.1377/hlthaff.2019.01484

Social Security Spotlight: 2021 Social Security Presentations

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I have been in the Social Security business for more than 40 years and, in my experience, most people are overwhelmed and uninformed about what benefit options are available, when to take them, and the mechanics of how to apply for them. People have contributed hundreds of thousands of dollars to the Social Security trust funds but have little idea of what is available, when it is available, and how it fits into their financial goals for retirement.

I have developed two presentations about the Social Security system, how it works, its nuances, restrictions, and timing. I offer informative Social Security 101 and 201 presentations, which are updated with the 2021 changes. Each session lasts about 50 minutes and is perfect for an employee lunch and learns or any other venue that works for clients or employees. I can present virtually if necessary.

The “Social Security 101” presentation explains the basics of Social Security entitlement like the earnings test, full retirement age, spousal/survivor benefits, Windfall Elimination, and Government Pension Offset. “Social Security 201” covers Medicare, disability, misinformation, “They Said” issues, practical information on how to file, overpayments, and your “My Social Security” online account. My fee is $250 for each presentation.

It’s great to put 2020 behind us and I’m looking forward to working with many of you in 2021. Thank you for your referrals and trust over the past 15 years!

 

About Dennis Heywood

Denny’s career with Social Security provides an in-depth, working knowledge of the Social Security Administration’s internal organization and processes. An expert in all phases of SSA programs: retirement, survivor, disability, and Medicare, Denny has expertise with the complex Social Security regulations based on more than 40 years of experience.

ss-help.com

What are the “Transparency in Coverage Regulations”?

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Initially proposed in 2019, a final rule released on October 29, 2020, by the Department of Health and Human Services (HHS), the Department of Labor (DOL), and the Department of the Treasury delivered on President Trump’s executive order on Improving Price and Quality Transparency in American Healthcare to Put Patients First. These regulations are intended to improve price transparency, as required by the Affordable Care Act (ACA).

Transparency in coverage refers to an ACA provision that requires health plans and insurers to disclose certain cost-sharing information to participants, beneficiaries, enrollees, and, in some cases, the public through an internet-based self-service tool and, upon request, in paper form. These disclosures are required for an initial list of 500 items and services for plan years that begin on or after January 1, 2023, with all items and services to be disclosed for plan years that begin on or after January 1, 2024. The requirements apply to most fully insured and self-insured group health plans, and to insurers, but “Grandfathered” health plans, excepted benefits, and short-term limited duration insurance are exempt. HRAs, health FSAs are generally exempt as well. It is important to note that “Grandmothered” health plans are required to comply.

Here are some highlights:

  • Estimated Cost-Sharing. Plans and insurers must disclose the estimated amount that the individual must pay for a covered item or service under the plan’s terms (including deductibles, coinsurance, and copayments).
  • Accumulated Amounts. The amount of financial responsibility that an individual has already incurred when the request for cost-sharing information is made (i.e., deductible or out-of-pocket limit) must also be disclosed.
  • In-Network Negotiated Rates. Plans and insurers must also disclose the amount they or a third-party administrator have contractually agreed to pay an in-network provider for a covered item or service, such as negotiated rates (including for prescription drugs) and underlying fee schedules that result from using a formula (e.g., 150 percent of the Medicare rate) as a dollar amount.
  • Out-of-Network Allowed Amount. The maximum amount that would be paid for an item or service furnished by an out-of-network provider.
  • Items and Services List. A list of the covered items and services must be disclosed when an item or service is subject to a bundled payment arrangement.
  • Notice of Prerequisites to Coverage. Individuals must receive a notice informing them that a specific item or service may be subject to a “prerequisite,” which is defined as concurrent review, prior authorization, and step-therapy or fail-first protocols.
  • Disclosure Notice. A notice with several specific disclosures, including a statement about balance billing and disclaimers about differences in actual and estimated charges.
  • Public Disclosures. Plans and insurers must make extensive price transparency disclosures to the public in machine-readable files updated monthly. The disclosures must show negotiated rates for covered items and services between the plan or insurer and in-network providers, as well as historical payments to, and billed charges from, out-of-network providers. (In a change from the proposal, a separate machine-readable file must set forth prescription drug information.) These disclosures are required for plan years beginning on or after January 1, 2022.

As your general agency partner, we want to provide the most updated and relevant industry information that could affect your business and your clients. As always, please reach out to us with any questions.

Check out this article from Kaiser Health News for additional information about updates to cost transparency.

Check Out Cornerstone’s Round Up of the Top Webinars From 2020

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Cornerstone’s webinar series will be back in January 2021, but first, we want to take a look back at the best webinars from 2020.

1. Anthem Employer Access Review

2. Social Security 101 with Dennis Heywood

3. Special Enrollment Opportunities

4. Marketing to Millennials

5. Design and Branding 101: Tools and Simple Tricks

6. Beginner’s Guide to Branding

7. Fundamentals of Marketing

8. Excel 101

9. Outlook Basics

10. Data Security with Connective Computing

Did you know that all of Cornerstone’s webinars are archived on the Resource Center?

Look out for more information about the 2021 webinar series coming soon!

Open Enrollment is Now Over, But the Selling Season Continues

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There are still opportunities to sell outside of Open Enrollment!

Consider reaching out to clients who may need a new plan due to a qualifying event such as:

  • Marriage
  • Dependent status change
  • Change of residence
  • Loss of coverage

Also, your clients may be interested in short-term health insurance and ancillary coverage solutions such as:

  • Short-term health insurance is available for up to 364 days in Ohio and up to three years in Kentucky and Indiana, with benefits like great networks and broker compensation.
  • Critical illness and hospital indemnity plans are ideal options for bridging coverage “gaps” for clients while providing great compensation for brokers.
  • Dental and vision insurance plans are easy to sell and cost effective at as low as $10 per month.

REMINDER: Have your ACA clients made their binder payments?

For your convenience, here are the carrier phone numbers that clients can use to make their payments and order their new ID cards:

  • Anthem: 888-613-6097
  • Ambetter: 877-687-1189
  • Molina: 888-296-7677, option 2
  • Oscar: 855-672-2755

Contact us today to find out how to maximize your selling potential in 2021!

Geoff Beglen, Lead Account Advisor

Social Security Spotlight: Social Security Offices Closed to the Public

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Social Security offices have been closed to public visits since March 2020 and will probably continue to be closed into the New Year until the rates of infection subside.

Most employees are working from home and a limited number of employees go into offices to process mail and to other internal work. You cannot visit Social Security Administration offices for an in-person interview. However, a lot can be handled online, like change of address, direct deposit, claim status, and filing retirement/disability claims and appeals if you have set up a “My Social Security” account on their website. You can also schedule phone appointments to file claims through the national 800 number (800-772-1213). However, appointments may not be available for weeks or months, if at all.

Filing online is easiest for retirement and disability benefits. I offer this service for retirement and disability clients who want an expert to handle their case. When I assist you, the claim information is sent to one of several intake centers throughout the United States. Social Security will send you a hard copy application to sign and return and your retirement claim is usually processed in 30 days or less.

You can call local offices with other questions on important issues. Local office numbers can be found at www.ssa.gov on the “Contact Us” page (on the home page) and “Locate an Office”. Simply enter your ZIP code and the local office address and phone number will be provided.

Social Security available to handle most situations, albeit some slower than others due to necessary precautions. They have prioritized workloads. Hopefully things will change some time soon in 2021 and we can all get back to the new normal!

Wishing you all a safe and healthy holiday season and looking forward to 2021!

About Dennis Heywood

Denny’s career with Social Security provides an in-depth, working knowledge of the Social Security Administration’s internal organization and processes. An expert in all phases of SSA programs: retirement, survivor, disability, and Medicare, Denny has expertise with the complex Social Security regulations based on more than 40 years of experience.

ss-help.com

VIDEO: On the Spot with Jennifer Agnello, President

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Get to know Cornerstone’s President Jennifer Agnello with our new “On the Spot” series! Learn about Jennifer’s favorite hobbies, her most memorable moment in the industry, and what drives her every day to do the work that she does.

Who should be “On the Spot” next?

Client Retention Strategies that Actually Work: Advice from Your Friendly Neighborhood Marketing Specialist

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How you continue to communicate after the sale is vitally important for maintaining lasting client relationships. Many businesses spend most of their marketing dollars on lead generation and finding new clients, but did you know that acquiring a new customer can cost five times more than retaining an existing customer? Part of a successful marketing strategy is maintaining your long-term client relationships and ensuring that you continue to deliver on the promises you made when you recruited them.

Retention is important and the proof is in the data. According to Yotpo, 60 percent of customers will tell family and friends about a brand they are loyal to. Good customer service and fostering successful relationships with existing clients will, no-doubt, set you apart from the competition. Your clients’ interest and their loyalty depends on how you communicate and what value you offer after the sale.

Here are our top five tips for creating and maintaining long-term client relationships with retention marketing strategies.

At the Root of Connection is Communication

Consider your own experiences with the businesses you are loyal to. What sets them apart from their competitors? Sure, the product they are selling plays a big role, but what about their customer service? Were the representatives attentive? Did they personalize your experience?

As with most relationships, the key is communication. Check in on your clients: How are they doing? What are their current pain points? How can you make their life easier? Do you have anything in mind that could improve their health insurance experience?

It is especially important to determine your client’s pain points. Just as you would ask them questions before you jump into your sales pitch, you want to employ similar tactics when checking in. What are they struggling with? What kind of experience are they looking for? For an individual client, for example, they may struggle with understanding health insurance terminology and how the system works, or maybe they have budget concerns that make it difficult for them to find a plan on their own. Recognize these pain points and tailor your messaging, both at the point of sale and beyond, to match those needs. If a client was concerned about budget at the point of sale, perhaps your mid-year communication should be a check in for how well the plan they chose has worked for their financial concerns. Get to know your clients and understand what they need from you so that you can continue providing high-quality service.

It is important to personalize your communication. Instead of sending a generic email to all your current clients at once, take some time to contact them individually and give them the time and attention they deserve for being your client.  But the key with this communication is brevity. No one wants to wait a long time to have their issues resolved.

Mind your Ps and Qs

While there are plenty of elegant digital communication opportunities available to you, a simple, hand-written note can go a long way. Keep a box of stationary handy so that you can write “thank you” notes to your clients after a positive interaction. Keep the message simple and show your gratitude for their business.

Personalized notes show enthusiasm for your partnership and tend to stand out more than an email. For example, if you meet with a client for an annual review of their plan, it’s important to follow up with a “thank you” note about how grateful you are for their business. After all, without your clients, your boat doesn’t float.

(Hint: A “thank you” note may also be a great way to request a referral from existing clients.)

Stand Out in a World Where Content is King

It is estimated that the average person is exposed to up to 10,000 ads every day, a large increase from up to 5,000 ads per day in 2007  (Yankelovich). That’s a lot of exposure, which means many messages are lost in the shuffle. You need your name to stand out among the noise, even after you have made the sale.

Though your current clients have already committed to your services, it is still important to make sure your message stands out against the competition. Keep your clients in the know about your business, how you are staying on top of trends in the market, how you interact with your community as a whole, and how you continue to adapt.

In the digital world, there are countless marketing tools you can use to maintain positive retention results. Can you guess what we’re going to suggest first?

Website

That’s right. A well-constructed and easy-to-navigate website is also a must to encourage your clients to come back for your services. According to Accenture, 48 percent of all consumers have left a business’s website and purchased elsewhere because the website wasn’t easy to navigate. We have sung the praises of websites for years, but that’s because a well-designed and responsive website is a must-have for all businesses. Even if your business is small or runs entirely on referrals, you need a website. You need a clear way for potential and current clients to get in contact with you, whether that is through a “Contact” page, an online chat option, or a “Get a Quote” form.

Getting a website up and running is simpler than you may think.  Plenty of web developers are available to help you get started with a site or update your existing site to be more user friendly. There are also a number of point and click tools online like Squarespace, Weebly, and Wix, which are specifically designed to help those with no web design experience to put together a simple, functional website.

Social Media

Do not overlook the reach of social media as well. According to a 2019 survey conducted by Pew Research Center, around 7-in-10, or 69 percent, of total U.S. adults use Facebook to connect with friends, family, and, now, businesses. Having a social media profile makes you even more accessible to not only potential clients, but current clients as well. Through social media, clients can reach you through chat, keep up with company updates on your profile, and make a personal connection with you throughout the year. Facebook, LinkedIn, and YouTube are excellent places to start. For more information about social media for your business, check out the Build Your Brand webinar we presented with 2060 Digital earlier this year.

Newsletter

You can also consider offering your expertise is through a weekly or monthly newsletter. Include blog posts from your website, links to reputable sources, an update from your business, behind-the-scenes shots of your company at work, and so on. You also want to think outside of the box. What health and wellness topics can you highlight? Maybe you can try to run a Caption Contest in your newsletter and offer a $5 gift card to the winner. If you are an employee benefits broker, consider spotlighting your clients’ businesses in your newsletter.

What is working and what isn’t

Creating content that draws the attention of your clients will require trial and error. Keep an eye on your open rates and your clicks to get a better understanding of the kind of content your clients are interested in seeing. High open rates and high click rates mean the content you are providing is of interest to your clients.

There are plenty of resources out there to get you started, but in a digital world, good content is king. Don’t overlook it.

Invest in Your Clients’ Health Insurance Education

As their health insurance agent, you can give your clients the tools they need to make informed decisions about their health insurance. When you educate your clients, you give them the power to advocate for themselves and become better shoppers.

In a 2015 survey by PolicyGenius entitled “Seeing Health Insurance and Healthcare.gov Through the Eyes of Young Adults,” it was reported that only four percent of Americans are able to correctly define all four terms that determine how much they would personally pay for medical services and drugs they receive under their health insurance plan (co-insurance, deductible, out-of-pocket maximum, and co-pay).

Through webinars, ebooks, worksheets, etc., you can provide your clients with guidance on the finer points of health insurance. Consider a vendor like GoToWebinar or Zoom to conduct a monthly webinar series about the basics of health insurance or use the “Live” tool on Facebook to hold live Q&A sessions with your followers. Websites like Canva can be a great tool for putting together marketing materials like flyers, ebooks, and worksheets when you don’t have much experience with design.

You can also take the guesswork out of the education process and send out a survey to your clients to determine what information would be most helpful for them when they’re choosing a new health insurance plan.

*Cough Cough* Check Out the Build Your Brand Webinar Series *Cough Cough*

It’s important to continually educate yourself on fundamental marketing strategies that can help you not only attract clients, but keep them. Cornerstone’s Build Your Brand webinars are focused on helping you level up your marketing. We have archived all of the 2020 webinars on the Cornerstone Resource Center for your convenience. Look out for more information regarding the 2021 series, coming soon!

 

Client retention is a metric of your business’s health and your long-term success. You have the clients—now what are you doing to keep them interested? If you are focusing only on lead generation rather than fostering the relationships you have already built, then you are missing out on a very important piece of your business.

Cornerstone is available to help you come up with a client recruitment and retention strategy that build long-lasting relationships and improves your bottom line. Contact us today to find out what we can do to help.

Additional Resources

Customer Retention Statistics and Predictions (Review 42)

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