Dave's Corner: What to Expect During AEP

David Russell with Empower Brokerage was asked, “What can you expect during AEP this year?” For David, it all boils down to preparation. Being prepared ultimately determines your experience – whether positive or negative.

The first step in being prepared is knowing which carriers are entering the market. One of the resources Empower Brokerage offers is insight into current market changes; we keep you informed on the changes existing carriers are undergoing, as well as what new carriers you should add to your portfolio. Staying apprised of what carriers offer and what markets carriers are expanding into is key to success, and we’re here to help you.

So right now, you should be learning the new developments in the market, taking note of the new first looks, making sure you’re certified and ready to go. You want to make sure you’ve got the knowledge. Know the market, know the plans you offer, and know how to work with your existing book of business. You should be scheduling time to do a market Medicare review to make sure their current plan fits their needs. When you conduct a review, you want to see how it compares to the new plans that are coming into the market. All of this will lead to a happy, positive experience with the upcoming AEP.

On the other hand, if you’re not prepared, then you’re going to find yourself frustrated, disjointed, and discomfited. In other words, if you’re spending your entire summer on vacation thinking, “I’ll look at it when AEP gets closer,” you’re going to be scrambling when October rolls around. If you’re unaware of all the new carriers and developments coming into your area, by the time AEP sneaks up, you’ll be rushing to get contracted and certified. You won’t be in the know, you’ll be stressed, and worst of all, some carriers will close their contracting so you won’t be able to offer a competitive product that could benefit a lot of folks (and you).

So, that’s Dave’s quick take on what to expect during the AEP. Now is the time to be communicating with Empower Brokerage and your carriers, not when the flood of AEP is upon us!