Representing multiple lines of business can help brokers increase their revenue. If you are one of the many brokers selling supplemental products in addition to Medicare, make sure you are following this guideline when advertising your services.
Keep Materials Clear and Concise
Advertising a Medicare product alongside supplemental health insurance is a good tactic—both for increasing your sales and for helping seniors get comprehensive coverage. But you must follow this rule outlined in the Medicare Marketing Guidelines (Section 40.8.1):
- If advertising multiple lines of business within the same marketing document, brokers must keep any Medicare lines of businesses clearly and understandably distinct from any other lines of business.
For example: Greg is an experienced broker, who sells Medicare Advantage, stand-alone vision, and final expense plans. Greg likes to advertise these products together on one pamphlet. Greg places each product he sales on a separate page. He also includes text explaining that the stand-alone vision and final expense plans are:
- not bundled with or a part of the Medicare Advantage plan,
- not required coverage,
- and will not affect enrollment in Medicare Advantage.
Learn More With Excelsior
Interested in learning more about compliant cross-selling techniques? We break down CMS’ rules for health-related lines of business and mailings for multiple lines of business on our resource center. Contact the Excelsior team to learn how we can help you double, or triple, your revenue.
Note: For the most current information, see the CMS Medicare Marketing Guidelines.