Many of your Medicare clients have questions about Social Security. Likewise, many people navigating Social Security benefits for the first time are curious about their Medicare options. Although Social Security and Medicare are two separate programs, they often go hand in hand for retirees. To better serve their clients and expand their reach, Medicare agents should consider obtaining RSSA certification.
What Is RSSA Certification?
RSSA stands for Registered Social Security Analyst. The RSSA Certification is offered by the National Association of Registered Social Security Analysts (NARSSA).
RSSA Certification is a widely recognized professional designation that demonstrates excellence in Social Security advisory services. Obtaining your RSSA Certification shows potential clients that you have the expertise needed to help them navigate Social Security decisions.
How to Become RSSA Certified
RSSA Certification is not available to everyone. Rather, it is designed for professionals who are already working in related fields and want to add this qualification. Therefore, to qualify for RSSA Certification, you must meet ONE of the following prerequisites. You must be either:
- A CPA, CFP, EA, or lawyer or have another professional license issued by a state agency.
- A FINRA-registered securities professional or advisor.
- Registered with the IRS to prepare tax returns with a valid PTIN.
- Licensed in insurance with the state where you practice.
If you meet one of these prerequisites, you can seek your RSSA Certification by completing the following three steps:
- Sign up for the RSSA program.
- Complete the 5-Module Self-Study Program. The entire program typically takes between 15 and 25 hours to complete. You must answer the practice questions.
- Pass the RSSA Final Exam. This is an online exam you can take on the second or fourth Tuesday of each month. The exam takes four hours and consists of 80 multiple-choice questions and two case studies, which have an additional 20 multiple-choice questions each.
How Much Does RSSA Certification Cost?
To obtain RSSA Certification, you will need to pay a fee to take the training program and to sit the test. There is also an annual membership fee.
Since prices may change, you should check the NARSSA site for current costs. As of October 2024, the training program costs $1,800, the exam costs $350, and the membership with software and client support costs $479 a year. There is also a package that includes the training, the exam, your first year of membership, and an RSSA Roadmap Lead Gen Starter Pack for $3,379.
Is Obtaining RSSA Certification Worthwhile for Medicare Agents?
Obtaining your RSSA Certification is an investment of both time and money. Before you make this investment, check to be sure that it will provide a good return for you. There are a few reasons why RSSA Certification may be worthwhile. For instance, it will:
- Help you stand out. Medicare enrollees are overwhelmed with ads offering Medicare support. Many of them need assistance, but, since they have many options, they may not choose you. Obtaining your RSSA Certification will help you stand out. This gives Medicare enrollees a reason to select you over your many competitors.
- Enable you to cross-sell. Seniors who come to you for guidance with Social Security benefits may then want to use your services to secure Medicare coverage. People first become eligible for Social Security Retirement Benefits at age 62 – just a few years before they age into Medicare.
- Help you deliver a superior service. There’s a good chance you’ve had Medicare clients ask for help with Social Security or express confusion and frustration over the process. By earning your RSSA Certification and gaining expertise in Social Security advisory services, you will be able to answer clients’ questions with confidence. This will result in a better experience for your clients, which will help with retention and referral business.
As a Medicare insurance sales agent, you already meet one of the RSSA prerequisites – i.e., an insurance license issued by the state where you practice. You also have experience with online training modules and tests (thanks to the annual AHIP certification requirements), so you have what it takes to pass the certification requirements. The RSSA Certification could help you provide better customer service and grow your business, so it might be worth considering.
Do you have questions about the RSSA Certification or would you like other ideas to help grow your business? WAP is here to help. Contact us.