Medicare Advantage 48 Hour Rule

[PinSeeker]

It is my understanding that according to CMS regulation if a presentation for a product that is not a Medicare Advantage (MA) is in process and the prospect asks about MA you must immediately get a Scope of Appointment (SOA) signed but a 48 hour "cooling off period" must be adhered to before they can be enrolled in a MA plan.

My question is, "Immediately after the SOA is signed, can I begin the MA presentation, answer their questions and maybe actually help them complete the application for the plan they want...provided I advise them that I cannot personally accept the application at that time and they must consider their decision for at least 48 hours before the application can be submitted for enrollment?" Or, "Do I literally have end the presentation and schedule a different appointment at least 48 hours in the future?"

 

[Josh]

You have to come back and do the presentation at least 48 hours later. You absolutely *cannot* fill out an application for the plan they want, provide advice, ore answer their questions *until* you come back 48 hours later.

Why do agents find this rule so confusing?

 

[Norwayguy]

You have to come back and do the presentation at least 48 hours later. You absolutely *cannot* fill out an application for the plan they want, provide advice, ore answer their questions *until* you come back 48 hours later.

Why do agents find this rule so confusing?

They are looking for a way to continue the appointment because they don't like wasting the time coming back 48 hours later. The other sad part is if the consumer asks and decides the 48 hour cooling off doesn't work for them they can call the 800 number and enroll with the carrier and have none of that cooky cooling off period.

 

[lucasr]

I agree. The policy itself is not that confusing, but is extremely inconvenient. I understand protecting seniors from the evil insurance agent, but for those of us out there trying to improve their situation its frustrating. Sometimes it seems that Medicare doesn't want them to know about it what options are out there.

 

[Josh]

The root problem here is that too many agents screwed the pooch. There was rampant fraud and abuse and congress had to do something. By using strong measures it made them look "tough on crime".

 

[djs]

Thats okay. You wait the 48 hours, then they decide the want the med supp. Now you have to leave and come back again....

Can't mix the 2...... You can be Clark Kent or you can be Superman, you can't be both at the same time or the same appointment.

Dan

 

[VolAgent]

Thats okay. You wait the 48 hours, then they decide the want the med supp. Now you have to leave and come back again....

Can't mix the 2...... You can be Clark Kent or you can be Superman, you can't be both at the same time or the same appointment.

Dan

Are you serious?? You got the SOA, wait 48 hours and the person says, "Nevermind, I'd rather have that Medicare Supplement." You've got to leave and wait another 48 hours???

 

[AllGold]

Are you serious?? You got the SOA, wait 48 hours and the person says, "Nevermind, I'd rather have that Medicare Supplement." You've got to leave and wait another 48 hours???

Nope. You have completed the requirements for Medicare Advantage SOA. Supplements are private insurance and not subject to the silliness of MA so you can take the application.

Although you are not allowed to cross-sell non-health products during a MA appointment so no life or annuities for example, but other health products like med supps or dental are ok.

 

[Sal15]

CMS has made exceptions to the 48 hour rule.

It surprises me how many agents don't know this.

 

[wehotex]

CMS has made exceptions to the 48 hour rule.

It surprises me how many agents don't know this.

My understanding is that if you are discussing Med supps, but then the prospect asks about something less expensive, that you could pull out the SOA immediately and then talk to them about MA.
But if discussing non-health related products (eg final expense) that the 48 hr rule would have to be observed.