Our recent 2025 Compliance Training Webinar provided valuable insights into the upcoming changes and challenges in the compliance landscape.
Here are 8 key takeaways from the session that you need to be aware of to stay ahead of the curve.
1. Anticipated Changes in Medicare Advantage Plans
Medicare Advantage (MA) plans are set to undergo significant transformations in 2025.
DEFT Research forecasts that between 40-70% of beneficiaries will need to switch plans (compared to the typical 10-15%). This shift is driven by many factors, including updates to CMS payment policies, which are expected to affect the cost structure of these plans.
Additionally, rising medical costs are playing a crucial role in these changes.
Brace yourself for an influx of clients requiring assistance.
Take advantage of the resources we've made for you to help you with that, including client letters and a pre-AEP checklist:
2. Increased Medicare Supplement Plan Rates
Medicare Supplement (Med Supp) plans are experiencing unprecedented rate increases, often reaching double digits.
These rising costs might push Med Supp plans into a luxury category, primarily appealing to higher-net-worth individuals.
For those who cannot afford these hikes, alternative options like Plan N offer a more cost-effective solution without sacrificing coverage quality. We made a fact sheet for you to easily present Plan N to your clients in a way they can understand quickly:
Related: How to Present Plan N to Your Medicare Clients
3. Impact of Election Year on Lead Generation
2024, being a major election year, will present unique challenges for lead generation.
The heightened political activity will lead to increased competition for media space, driving up costs and reducing availability.
If you plan to do any paid advertising, lock in your marketing budgets and strategies early to mitigate these challenges.
You may also look into leveraging non-traditional media channels or focusing on grassroots community engagement.
Related: 10 Easy Ways To Generate Free Medicare Leads
4. Final Rule and One-to-One Consent Requirements
New regulations have introduced stricter consent requirements for lead generation.
In the webinar, Chalen detailed that clear and specific consent must be obtained from consumers, ensuring they are fully aware of what they are signing up for and who will be contacting them.
This shift towards greater transparency and accountability in marketing practices aims to protect consumers and build trust.
Take some time to review your consent forms and scripts to ensure compliance with these new rules, as failure to do so could result in significant penalties.
5. Inflation Reduction Act and Medicare Part D Redesign
The Inflation Reduction Act brings significant changes to Medicare Part D, notably introducing a $2,000 out-of-pocket maximum and eliminating the donut hole.
These changes will shift more costs to insurance carriers and require agents to stay informed about the new coverage phases and their implications.
Chalen gave a comprehensive overview of these changes, emphasizing just how important it is to understand the new cost structures and coverage limits so you can help your clients as best as you can.
6. Medicare Prescription Payment Program (M3P)
The M3P program, allowing beneficiaries with high-cost drugs to spread their payments over the year, was another critical topic covered.
This program aims to ease the financial burden on those requiring expensive medications.
The webinar discussed the intricacies of M3P, including eligibility requirements and potential impacts on overall healthcare costs. Familiarize yourself with the program details to effectively guide clients who might benefit from this payment flexibility.
7. Short-Term Limited Duration Insurance Regulations
The rollback of regulations extending short-term health plans from three years to just three months marks a significant shift.
This change will profoundly impact the market, particularly for those who relied on these plans as a stopgap measure before transitioning to more permanent solutions like Medicare or ACA plans.
The webinar discussed how this change could influence retirement decisions, as many might find the three-month limitation insufficient. Agents may see an increase in ACA business as individuals seek more stable and long-term coverage options.
8. Preparing for Future Regulatory Changes
The compliance landscape is continually evolving, with new GI rules and price negotiations for prescription drugs on the horizon.
We will do everything we can to keep you informed ahead the curve. Keep an eye out for future webinars and training sessions to keep up-to-date with the latest developments and best practices.
Conclusion
By understanding these key takeaways and preparing accordingly, you can better serve your clients and navigate the complexities of the upcoming year.
If you have any questions, drop them in the comments below! Here is a copy of the full webinar recording:
