Agencies advocate for legislation targeting misleading Medicare advertising practices
In a bid to improve the Medicare beneficiary experience, Sen. Mike Rounds, R-S.D., and Sen. Catherine Cortez Masto, D-Nev, have introduced the Independent BROKERS TIME Act of 2025 (S. 2625). This bill aims to redefine and clarify terms related to Medicare marketing activities, streamline agent and broker registration processes, and strengthen oversight of marketing practices.
The act eliminates the 48-hour waiting period requirement between a Scope of Appointment agreement and an independent agent or broker's meeting with a Medicare beneficiary. This change is expected to streamline the process, increase transparency, and reduce regulatory hurdles.
The bill also seeks to strengthen oversight of marketing practices, particularly focusing on predatory call centers. It aims to curb deceptive tactics and provide seniors with trusted, professional guidance from licensed insurance agents and brokers.
Health Agents for America and the National Association of Benefits and Insurance Professionals (NABIP) have urged Congress to swiftly pass the Independent BROKERS TIME Act of 2025. According to them, the bill protects seniors by cracking down on predatory call centers and misleading marketing.
The bill supports independent agents by recognizing the vital difference between local, licensed agents and large lead-generation or call center operations. It promotes accountability by creating whistleblower rewards to report fraudulent call centers and requiring oversight reports to Congress.
The Independent BROKERS TIME Act also reduces burdens by eliminating the unnecessary 48-hour waiting period and streamlining registration for agents. This, in turn, is expected to increase the availability of professional guidance for Medicare beneficiaries.
Jessica Brooks-Woods, CEO of NABIP, supports the bill, stating it ensures continued access to trusted, professional guidance from licensed agents. The bill aligns with the Healthcare Bill of Rights of NABIP, which asserts that every American deserves access to trusted, professional guidance from licensed insurance agents and brokers.
The bill corrects regulatory overreach and holds deceptive marketing practices accountable, according to NABIP. It promotes accountability by creating whistleblower rewards to report fraudulent call centers and requiring oversight reports to Congress.
The Independent BROKERS TIME Act of 2025 has been referred to the Senate Committee on Finance. As the bill progresses, it is hoped that it will bring about positive changes in the Medicare marketing landscape, benefiting both insurance professionals and Medicare beneficiaries alike.
This article was published by ourwebsite.com Inc. and is copyrighted by them. Susan Rupe, managing editor, oversaw the publication of this article.
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