Per the Centers for Medicare & Medicaid Services’ final regulation for the year 2023, a pair of mandates fundamentally affect independent representatives and brokers vending Medicare Advantage and/or Part D schemes.
Here’s the Updated Disclaimer Mandate for representatives vending Medicare Advantage and Medicare Part D schemes:
“We do not represent all plans available in your locale. The data we impart is confined to those schemes we do represent in your region. Please consult Medicare.gov or dial 1-800-MEDICARE to obtain information on all your choices.”
Commencement Date:
Modifications to the promotional regulations become operational on October 1, 2022, directly preceding the 2023 Annual Enrollment Period for Medicare Advantage and Medicare Part D schemes.
The Justification for These Modifications:
In response to deceptive television adverts from Third-Party Marketing Organizations (TPMOs) that have escalated consumer grievances to the Centers for Medicare and Medicaid Services (CMS), the definition of TPMOs has been expanded to encompass agents and brokers.
