The federal Centers for Medicare and Medicaid Services today released final regulations that will tighten the rules for agents selling Medicare Advantage plans.
The final regulations include strong prohibitions against use of unsolicited sales contacts, such as unsolicited telemarketing calls.
The final regulations also bar insurers from offering financial incentives that could encourage agents and brokers to maximize commissions by inappropriately moving, or churning, beneficiaries from one plan to another.
Another section of the regulations requires Medicare Advantage plan agents and brokers to be licensed and appointed in accordance with state laws.
Insurers and producers that market Medicare Advantage plans must comply with the new rules by Oct. 1.
In related news, CMS: