Can someone clarify the regulations on generic advertising that mentions Medicare Advantage and PDP's but not a specific company. Does it need to be approved by CMS and have all the disclosures, etc. or is OK as long as you do not mention a specific company. I've been searching online but have had little success finding an answer.
goldthroat
Expert
I would contact the marketing dept of the carrier you represent & get specific instructions rather than take the advise of anyone who posts that may or may not be accurate.
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Here's the headline: Free Medical Care for Seniors!
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- #5
The problem with contacting the Company or FMO is nobody is willing to give an answer because they truely don't know. I just thought maybe someone had sent a generic ad to CMS in the last year for approval. I could read the regulations all day long and not get a straight answer on Advertising in a newspaper.
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Part of the problem with this is that CMS can't make up their mind. What's legal from one month can be illegal the next and then "safe" again a few months later.
If you're doing to do anything in print, you're better off running it through the compliance department of a carrier you're appointed with or at least talking to their compliance department.
In case it's helpful, most folks don't do particularly well with newspaper ads. A lot of the big carriers will do it for branding and such, but their cost of acquisition in print is astronomical.
If you're doing to do anything in print, you're better off running it through the compliance department of a carrier you're appointed with or at least talking to their compliance department.
In case it's helpful, most folks don't do particularly well with newspaper ads. A lot of the big carriers will do it for branding and such, but their cost of acquisition in print is astronomical.
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I agree about not doing well with newspaper ads, I have ran many the last 9 years. I did have some success with fixed annuity ads and then was able to pivot to Medicare, FE, etc. You never know though when just getting your name out in the community will help you down the road. Most of my ads cost $40-$50 to run each time. Run them twice a month generally.
WhyCare
New Member
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I read that as "Free Monkey for Seniors". I wonder how that would work?
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I completely agree. During AEP, the carriers, themselves, spend the BIG bucks to be in every form of media, including full size newspaper ads. This is not a good form of media to compete in, even if the compliance departments gave approval (which they won't without a policy number, disclaimer, and CMS approval that they will tell you is required). They don't like generic ads and would not sign off on them at all.
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