What you need to know about compliance
August 11, 2023
This year, the Centers for Medicare & Medicaid Services (CMS) issued significant regulation updates that affect the experience and bottom line for you, your clients and carriers alike. Compliance keeps you and carriers on the right side of regulations and helps consumers see you as a trusted Medicare resource.
In case you missed them, here are just a few of the major updates:
•Scope of appointments (SOAs) must now be collected at least 48 hours before sales appointments, unless the beneficiary has walked into the agent's office or other in-person location, made an inbound call to the agent, or it is the last 4 days of a beneficiary’s valid enrollment period. SOAs must be completed for all marketing appointments, whether or not the 48 hour waiting period applies.
•SOAs can't be collected at educational events and are valid for 12 months.
•Among other requirements under the pre-enrollment checklist, you are now required to explain the effect of a consumer’s enrollment decision on their current coverage.
•You may no longer hold marketing events within 12 hours of an educational event in the same or adjacent location.
To learn more about these and other important changes and what you can do to stay compliant, check out this compliance slideshow.