Lasso Medicare Advantage Plan is a Medical Savings Account which is a different type of advantage plan that agents are using to serve their clients.
Lasso Healthcare: General Agent Contracting Kit Instructions
Step 1: Complete a Lasso agent contract
Step 2: Complete the current AHIP Medicare training (Here is a link to get an AHIP discount)
Step 3: Review the current training guide and pass the Lasso Medicare certification with an 85% or better score.
Once you have completed the Lasso contract and become ready to sell, Lasso will order an initial supply of 5 MSA applications for you.
Lasso Medicare Commission Levels
Street level commissions for Lasso are as follows:
- 1st year commission: $510
- Renewal commissions: $255
Why agents get appointed with Lasso
Agents contract with Lasso MSA because it provides them more options to serve their clients.
As independent agents, we all know the importance of the customer experience and providing a transparent look into the plans they may be eligible for.
Below are some of the main reason?s agents get appointed with Lasso:
- Lasso Medicare MSA is a great plan for agents selling Medicare Advantage because it provides an alternative zero premium option for clients who need network flexibility.
- Lasso is relatively new company to the Medicare Advantage market, and it provides a fresh reason to further communicate with your existing clients about new options available in their area.
- Lasso?s open network directly competes with Medicare supplement network flexibility.
Interested in Getting Contracted with Lasso?
Lasso Medicare FMO
From what we have found, there are four organizations in the country that have the Lasso FMO contract, which makes getting a direct contract with Lasso impossible to obtain for a street level agent.
There are nine total commission levels and street level starts at level 4. This means there are 3-4 levels of override for agencies looking for GA, MGA, or IMO contracts with Lasso.
Ritter insurance Marketing has the top-level contract and administers the product, so don?t be surprised when you see Ritter on any of your communications, commissions, etc. This doesn?t mean you are having to contract with Ritter for anything else; Ritter just happens to be a partner with Lasso and is helping drive the company?s growth.
Ritter is one of the biggest Medicare marketing organizations in the country and well respected in the industry.
Lasso Medicare leads
Lasso is an MSA, which is a type of Medicare Advantage plan which requires agents to follow all Medicare marketing guidelines, including for lead generation.
In order to get a Lasso branded Medicare lead, contracted agents would need to contact Lasso directly about building a CMS-filed landing page that adheres to the Medicare marketing guidelines.
Getting a CMS-filed landing page takes time, so unless you have at least six months before the upcoming AEP, you?re better off using other types of Medicare leads.
Direct Mail Options
- Target Leads
- ARM
- Need a Lead
- Lead Heroes
- Jen Marco
- Lead Concepts
- RGI
- Internet leads from third parties
Who is Lasso Healthcare?
Lasso Healthcare offers 3 Medicare MSA plans in 17 states as of September 1, 2019.
Lasso Medicare MSA states (2020):
- Arizona
- Arkansas
- Delaware
- Hawaii
- Illinois
- Indiana
- Kansas
- Maryland
- Mississippi
- Montana
- North Carolina
- North Dakota
- Pennsylvania
- South Dakota
- Texas
- Utah
- Wyoming
Who owns Lasso Healthcare?
Lasso is a stand-alone insurance company that has partial ownership by Ritter Insurance Marketing.
Getting contracted with Lasso doesn?t mean you have to place all your contracts with Ritter, it just means they are part owner which is not uncommon.
You can still hold your other contracts with other uplines without any issue.
Does Lasso offer an AHIP discount?
No, Lasso does not offer an AHIP discount or reimbursement. However, you should ask your Lasso FMO if they will reimburse you for your AHIP costs and how to get that benefit.
If you are looking for an AHIP discount, you can use the Redbird AHIP discount here to save $50 off your exam fee. We do not require any contracting for you to access the discount and it?s available to everyone.
How to submit Lasso Medicare applications.
Paper apps should be faxed to Lasso new business at 888?638?6943 within 48 hours of completion per Medicare guidelines. As with other Medicare Advantage plans you sell, you?ll need to ensure you?re sending all the required forms including the Lasso application cover page and check list.
Can I use my tablet for electronic enrollments?
Yes, but you still need to collect a paper Scope of Appointment in order to compliantly utilize the Lasso Medicare e-app.
As with any electronic enrollments for Medicare Advantage, you need to make sure you?re following all the protocol as outlined by CMS.
If you?re new to using a tablet for your enrollments, you should always check with the carrier to make sure they work with the specific type of tablet you have. Sometimes companies don?t always work well with both apple and non-apple products.
How Lasso MSA works
Lasso will offer three plan options with varying deductibles in 2020. These benefits change every year, you should always check the current summary of benefits for the current year to verify benefits.
- $7,400
- $8,400
- $9,400
Annual MSA Deposit
Policy holders will receive a deposit on January 2nd for $3,240 to their medical savings account at a dedicated bank. These funds are used to cover out of pocket expenses until the deductible has been met.
MSA deposits are also rolled over each year if unused and withdrawals are not taxed when used for QME.
What is a Medicare MSA?
MSA is a medical savings account and is one type of Medicare Advantage plan that CMS partners with. The biggest difference between a Medicare MSA and a traditional Medicare Advantage plan is that MSAs do not have networks.
Lasso Healthcare only offers MSA plans currently in 17 states throughout the U.S.
Conclusion
The Lasso MSA plan is a great addition to your Medicare Advantage product offerings. Below are some things to remember:
- It?s a zero-premium plan.
- There are no physician network restrictions.
- Three high deductible options.
- $3,240 MSA deposit for care costs and unused MSA balances roll over each calendar year.
- Best when paired with an indemnity product.
- Getting contracted is quick and easy