Editorial by LeClair Group CEO Richard Lett
In finishing the MNsure certification program, I found it to be much improved from it’s inception. It is time to take another look.
The number of agents engaging with ACA exchanges across America has increased from 25,748 (2018) to 28,133 for 2020 enrollments. However, among the 139,000 members enrolled via MNsure only 38% have a licensed agent, leaving 80,000 clients and commissions without a home. This also reflects agents’ relevance in the U65 market, which as I will outline later could be the next big thing for your business. And remember your U65 business is feeding your Medicare pipeline.
Did you know?
Once certified, clients can assign you as their broker at any time and you will be paid commissions going forward. Having a local agent to educate and review their needs is an essential community service. MNsure is the only means that your clients will be able to obtain a subsidy. High premiums and the need for these subsidies is not going away any time soon.
Whether your clients enroll in an ACA, Faith-Based or Small Group plan, you must address your clients out-of-pocket costs. All of today’s plans need to be paired with an Accident, Hospitalization or Dental plan.
How can MNsure work for your business?
- Free promotion and leads through MNsure’s referral program and Assister Directory.
- MNsure’s dedicated broker service line.
- A reliable an accurate quoting and enrollment platform.
What are your next steps?
Brokers must complete MNsure certification before assisting consumers, there is no cost to certify and it can be done any time of year. Remember, Open Enrollment begins November 1, 2019, so you still have time to certify.
How to register:
Step 1: Register on MNsure’s Broker Agency Management Program (BAMP):
Step 2: Review instructions for creating a BAMP account (PDF).
Step 3: Create an account and enter staff interested (PDF) in completing the certification process.
Step 4: Complete the certification.
After registration, you’ll receive an email with a link to MNsure’s online training and a unique ID to access your account where you can complete the online certification course.
Consider these additional facts.
- A stabilized ACA market: In 2019 premiums declined between 7 and 27%, with an average decline of 1.0% for 2020 plans.
- Blue Cross and Blue Shield of Minnesota plans are now in all 87 counties. Click here to learn about Blue Cross’ Individual Bonus Program.
- Medica plans are available in all 87 counties
- Ucare is available in 28 counties, including the metro area
- MNsure’s new plan comparison and enrollment tool works.
- Families average over $7,000 in savings and over 90% of enrollees qualify.
Is the U65 market the next big thing?
It has long been thought that the U65 market represents around 5% of the total market, (Medicare equals 20% while Group equals 60%, the balance is State and Federal programs.) Many clients in the small group space are already migrating to the individual markets as small employers seek to move towards ‘defined contribution’ and HRA premium models. You should be rethinking your understanding and capacity to respond to what may be a significant growth in the U65 market. With new risk-based products and options, commissions will reflect the value you bring. And remember, relationships with younger clients will provide many years of returns for your service.
LeClair Group ensures your business gets the backing it needs to deliver fast, high-quality service to your clients. Better together, our expert sales desk team is here to train and support your sales, backed by industry-leading quoting and illustration tools to grow your business.
Good luck during Open Enrollment and beyond.
Chief Executive Officer