Insurance Licensing
Getting Licensed to Sell Medicare
To become a Medicare insurance agent, you must first get a health insurance license in the state you currently live in (this is called your resident state health insurance producer license). You can use the link below for WebCE to obtain your study material needed before you scheduled your insurance exam.
Aside from being a requirement, you will receive the fundamental training essential for you to understand how health insurance plans work, including original Medicare, Part C, Medicare supplement plans (also called medigap plans), and part d plans.
Here are some of the important areas of study a prospective sales agent will find in the health insurance license process:
- Deductibles
- Co-insurance
- Claims adjudication and how it affects health plan members’ access to care
- Networks such as PPO, HMO, and Fee-for-Service
- Healthcare laws
- Professional ethics and compliance
There are several vendors who offer health insurance license training, and many states may require specific hours of study prior to taking the health insurance exam. There are two potential requirements you’ll need to meet to get your health insurance license to sell Medicare.
Study Courses for Health Insurance License
Some states require and offer classroom training with a seasoned licensed health insurance agent who prepares you for the exam. This is a nice option by giving you access to someone who can answer questions as you progress through the course. This classroom training takes roughly a week to complete with the goal of passing the exam at the end of the class.
Self-Study Health Insurance License Preparation
Some states offer self study instead of courses. If you would rather study on your own time, there are course options in book and electronic formats. This allows you to learn at your own pace. Many of these types of courses give you access to a licensed individual via an 800# or web chat.
Once you pass your state health insurance exam, you are officially certified to sell health insurance products in your resident state once the testing center transmits your successful test score to the state. That process typically takes a few days
It is worth noting that many health Insurance exam vendors offer a life insurance certification at the same time you are preparing for your health certification. While having a life license is not required to sell Medicare products, it is a good idea to have this license under your belt to provide your client with other insurance product needs down the road.
All you need to do is use a health insurance license vendor and follow the specific details for your resident state.