AEP 2025 - Old Principles in a New Age

Trust.

It’s at the heart of being an insurance agent. You come into someone's home, they share their hopes, dreams and fears, and they’re counting on you to help them make the right decision. For them, their future, and their family.

To me, it’s simple. I’m only as good as my word.

When I sit at the kitchen table with a customer and make a recommendation, I believe in it. I trust my experience. And most importantly, I trust the carrier to do right by my customer. So, when I see some of the things that transpired this AEP, particularly within the MA and PDP marketplace, it makes me sad.

Agents put in countless hours over the summer and early fall preparing for the biggest selling season of the year. This fall, these agents who help make sure their customers have access to the coverage they need learned that some of their efforts from the past, as well as moving forward, wouldn’t be compensated as expected.

I get it … 2024 has provided the health care industry with a lot of drama. We’re facing new challenges and when necessary, adjustments need to be made. ?

However, each one of us has an internal barometer that gives us indications when something doesn’t feel right, or pass the smell test. This is one of those times.

In a year when older Americans across the country are making health care decisions that are drastically different than what they‘d been expecting, they call their agents. Why? Their agents are their lifeline. ?

Agents and the people we serve deserve better.

Keeping More Than the Promise?

When I think about Physicians Mutual and the principles it stands for, I am thankful. Having the opportunity to help customers from all walks of life enjoy the financial security they deserve is a high calling. It’s one Physicians Mutual takes seriously. ?

Recently, Physicians Mutual changed their vesting compensation schedule for agents. They moved from a 5-year to an immediate and lifetime vesting schedule. All policies moving forward are paid accordingly. But they didn’t stop there. Not only was this put in place for new policies moving forward, but Physicians Mutual also honored all policies written under the previous vesting schedule. The new vesting schedule was retroactive. ?

Now, here’s why it matters ... ?

There were Agents under the original contract. Some were first-year Agents. Some were well into year four. Physicians Mutual could have said they’ll honor the contract and pay as agreed. Businesses do it all the time. And frankly, no one would’ve thought twice about it.

Physicians Mutual believes commitment and loyalty matter. So, rather than pay Agents under the old contract, they pay under the new one — a business decision based upon principle.

In light of this year’s AEP, I think about this commitment to loyalty often. ?

A Better Way to Do Business

In today's market, where it's easy for an Agent to feel like the ground is shifting under them, you need a carrier you can trust — now more than ever. Here’s why you can count on Physicians Mutual...

At Physicians Mutual, we exist to pay customer claims. That is our purpose. We’ve been in the Medicare Market since the 1960s and we value strong partnerships with Agents and marketing organizations who provide customers the guidance and support they need. When Agents are with their customers at the kitchen table, over the phone, or virtually in an appointment ... they (and their marketing organizations) know we have their backs.

It’s our promise — and we deliver. ? If Physicians Mutual sounds like the type of insurance carrier that fits the needs of you and your customers, it’s because we are. Learn more at PhysiciansMutual.com