Insurance Agent Mistakes - AEP 2023

Insurance Agent Mistakes To Avoid During AEP

Aug 22, 2022

August through December is a hectic time for insurance agents who sell Medicare. Prepping for AEP, then selling the heck out of Medicare plans within 54 days takes a lot of focus, energy and motivation. The last thing you need to worry about is making a mistake during AEP.

We’ve compiled the most common insurance agent mistakes that you should avoid during AEP, so you can focus on making this year’s AEP your best year yet.

Mistake 1: You’re Not Ready To Sell 

If AEP comes around and you’re not ready to sell, you’re out of the game. “Ready to sell” means you have completed all of the requirements needed to sell Medicare products. 

Before AEP, make sure you have: 

  • Obtained an insurance license in your resident state
  • Passed the AHIP certification (you must recertify each year)
  • Completed all individual carrier certifications
  • Purchased or renewed your E&O insurance (recommended)

AGA Tips: 

  • You need to pass AHIP before you can complete most carrier certifications. 
  • You have 3 tries to pass your AHIP exam. 
  • Each carrier has different certification processes. Double check that you are up to date with all the carriers you want to work with. 
  • If you’re unsure, AGA agents can reach out to broker relations for support. If not, you can reach out directly to the carrier, let them know what you’ve completed and ask if there’s anything else you’re missing. 

Mistake 2: Waiting Until The Last Minute to Prepare

AEP requires preparation. It’s up to you to set yourself up for success, and you’ll need a few months to make sure you’re ready to serve current and new clients. 

Here’s what to complete in the months before AEP starts in October: 

  • Contact current clients about plan changes once compliant.
  • Review your portfolio offering, and diversify if possible. 
  • Be prepared to discuss plan and carrier eligibility information and plan comparisons.  
  • Have a sales and marketing plan ready.

AGA Tips: 

  • Know the plans your current clients have, and prioritize reaching out to any who might see changes which affect them next year. 
  • Come ready to AEP with plan alternatives for those who might experience plan changes or whose needs may have changed. 
  • Get some more tips on crafting your marketing strategy in our recent post: AEP 2023 Broker’s Checklist

Mistake 3: Incorrect, Missing or Late Information 

Whether new or old, all clients deserve the best service. That includes – at the bare minimum –  providing correct information, complete applications with all necessary supporting documentation, and timely application submissions. 

During AEP, make sure: 

  • You’re providing the CORRECT information, including:
    • Provider Participation 

    • Monthly Plan Costs Submission 
    • Medication Costs
    • Benefit Explanations
  • Following up and submitting applications with any necessary supporting documentation,  on time. 

AGA Tips: 

  • Always double check and verify! This includes plan eligibility, the right plan, and the correct election period. 
  • Review all paperwork or the digital enrollment with the beneficiary before submitting. 
  • Timely application submissions (within 48 hours) are a must. This is the benefit of electronic applications – they are sent immediately. 
  • If you have an appointment where you plan to discuss Medicare Advantage or Prescription Drug Plans, make sure to always get a signed Scope of Appointment (SOA) form first. 

Although insurance agents have their work cut out for them every AEP season, the good news is that by avoiding these three common mistakes, you can focus on having your best year yet. Are you prepared for AEP 2023? If not, don’t worry – our team is here to help. Get in touch today and let us know how we can assist you in preparing for the upcoming open enrollment period.

AGA Helps Agents Thrive Through AEP

Get assistance for AEP 2023.


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