10+ Best Ways To Market Yourself As A Medicare Agent Effectively
- 1 Use Social Media. How many times a day do you scroll through Facebook, Instagram, Twitter, etc? Put yourself in your...
- 2 Give Away A FREE Lead Magnet. What’s a Lead Magnet? It’s something free of high value you giveaway to your dream...
- 3 Leverage Your Existing Clients For Referrals. This is a very...
Full Answer
How do you reach out to Medicare prospects?
That being said, you shouldn't ignore the ways you can reach these prospects through modern-day digital channels. Website, email, and social media are all important ways to connect with eligible Medicare prospects.
What does a Medicare insurance agent need to do?
A Medicare insurance agent needs to be familiar with the ins-and-outs of every Medicare plan. They have to know what plan works best for a person and their needs. They need to describe plans in great detail, tailoring their words to what a person wants. A Medicare insurance agent also needs to be a good salesman and marketer.
How much do insurance agents make selling Medicare Advantage plans?
However, you can get approximately double that — $573— if you write up a new Medicare Advantage plan for someone who hasn't had one before. Assume for now that you primarily sell replacement policies and average $300 commission per policy.
Can a Medicare Advantage Marketing Plan work for You?
A Medicare Advantage marketing plan allows you to reach patients at all stages of the process, but it can be tricky to do effectively and ethically. Why you want more Medicare Advantage patients When patients turn 65, they have a 7-month period—three months before, during and after their birth month—to select a Medicare plan.
How do I get Medicare clients?
⍟ 14 Ways to Generate Medicare Supplement LeadsBuild & Maintain a Website. ... Social Media Presence. ... Video Marketing. ... Blogging, Writing Articles. ... Email. ... Online Events: Live webinars, podcasts. ... Direct Requests / Client Referrals. ... Lead Swapping Partnerships (Asking other professionals for referrals)More items...
How do you attract Medicare patients?
Here are five ways on how to attract Medicare patients to your clinic to grow your market share in the Medicare space.Home Health Care. If your clinic offers home health services, promote them. ... Health Screenings. ... Mental Health Services. ... Telehealth. ... Patient-Provider Matching.
How do I find Medicare prospects?
There are many options for generating leads that will give you an edge over the competition:Determine your product. ... Identify your segment or target audience. ... Create an educational website. ... Hire telemarketing personnel. ... Set appointments. ... Completing Medicare Advantage Telesales Enrollments.More items...•
Can you get rich selling Medicare?
Originally published April 15, 2014. Updated December 21, 2020 with expanded information about how lucrative Medicare sales can be. I know some producers who are barely making their rent payments, and others who are making several million dollars per year. So yes, selling Medicare products can be very lucrative.
How can I get free Medicare leads?
5 Ways to generate Free Medicare LeadsAsk for Referrals. Referrals or word of mouth may be the oldest, best, and least expensive ways for insurance agents to generate Medicare leads and grow your business. ... Form Community Partnerships. ... Create a Digital Presence. ... Host and Network with Seniors at Events. ... Personal Contact.
How much do Medicare leads cost?
As mentioned previously, new Medicare Advantage pay $25 for each direct mail lead.
Can you advertise for Medicare?
Medicare private plans are allowed to conduct certain activities. For instance, companies can market their plan through direct mail, radio, television, and/or print advertisements. Agents can also visit your home if you invite them for a marketing appointment. Never feel pressured to join any plan.
How do I get insurance leads?
15 Effective Ways to Generate Insurance Leads OnlineCustomer Referrals. Your current customers are a gold mine! ... Use Social Media. ... Google Search Ads PPC. ... Purchase Lead Lists/Purchase Ready Leads. ... Community Building. ... Create a Good Website. ... Get Listed on Reputable Review Sites. ... Host Webinars.More items...•
Can you solicit Medicare Advantage prospects through email?
The only caveat: If you are initiating contact via email, you're required to include an opt-out opportunity. Direct unsolicited contact, such as text and direct messaging over social media, falls into the same category as unsolicited phone calls and door-to-door solicitation. This means it is not permitted.
How hard is it to sell Medicare?
No, it's not hard to sell Medicare Supplements. When you're first starting, it should be easy, because everyone on Medicare needs one. It's just an insurance product. You're not a member – you're a policyholder, and that means a lot to people.
Do Medicare agents get residuals?
As an insurance agent, you need a residual income base to create a career with long-term sustainability. Medicare can be that residual income. You can build a 6 figure income by steadily selling Medicare for as little as 3-4 years.
What are the three main ways in which Medicare sales occur?
There are three different types of Medicare products sold by agents and brokers: Medicare Supplement plans (Also called Medigap plans), Medicare Advantage plans and Medicare Part D Rx plans.
1. Get Medicare Leads Through Facebook
According to one study, as many as 84% of baby boomers have Facebook accounts. That is a huge market of Medicare leads waiting to be reached. But before we get any further, you must understand that just because you have a social page doesn’t mean you will suddenly get a rush of followers, leads, or customers.
2. Get Medicare Leads Through YouTube
Here’s a statistic that will surprise you: more than 60 million Baby Boomers over the age of 55 view content on YouTube every month, according to YouTube’s Trends Dashboard. With this information, we’re not sure why brokers aren’t using YouTube as a means to get Medicare leads.
3. Get Medicare Leads Through Your Website
Speaking of websites, that is another excellent way to get Medicare leads. Did you know 87% of consumers will check out your website before they’re willing to meet with you? Think of your website as your behind-the-scenes marketing team. It’s always there to talk you up and make you look good.
4. Get Medicare Leads Through Blogging
If you like writing, blogging might be your most effective way to get Medicare leads. You will have to spend a little time becoming familiar with SEO optimization tactics but it might be well worth your time since those who blog create 67% more leads than those who don’t.
5. Get Medicare Leads Through Email Marketing
Whether connecting with your current book of business or reaching out to leads you’ve received, email marketing can be very effective. However, Baby Boomers have been inundated with marketing messages all their lives and have zero tolerance for the hard sell. Instead, you should use a conversational, yet informative tone in your communication.
6. Get Medicare Leads Through Webinars
Webinars are an excellent way to demonstrate your expertise in the field and position yourself as an industry leader. It’s also the perfect opportunity to let some of your personality come through. But here’s what it’s not an opportunity for: a hard sell.
7. Get Medicare Leads Through Print Advertising
Believe it or not, print advertisements are still very relevant in today’s digital world. Nearly 80% of consumers act on direct printed mail advertisements compared to only 45% for electronic advertisements. Because online ads have a reputation for being misleading, print advertisements remain the most trusted source of marketing information.
Social Media
Organic social media may not be as effective as it was in the beginning, but writing it off entirely isn’t a good idea. Healthcare consumers want to see providers have an active presence on these platforms.
Digital Ads
It's imperative that you put some spending behind your marketing efforts in the digital age. It also makes business sense because you can specifically target certain audiences and spend your money more effectively than print advertising.
Community Partnerships
Regardless of whether the world opens back up or not, community partnerships are a great way to connect with Medicare consumers.
What are some examples of Medicare marketing guidelines?
For example: Events promoting a particular plan must be properly labeled as sales/marketing events rather than educational events.
Why do people choose Medicare Advantage?
That’s why millions of people choose a private Medicare Advantage plan as their 65th birthday approaches or during the Annual Election Period (also known as AEP or open enrollment)—to fill in those gaps and prevent a major procedure from leading to bankruptcy. A Medicare Advantage marketing plan allows you to reach patients at all stages ...
What is Medicare Advantage Marketing Plan?
A Medicare Advantage marketing plan allows you to reach patients at all stages of the process, but it can be tricky to do effectively and ethically.
How to avoid losing Medicare patients?
You can avoid losing your patients when they turn 65 by participating in the best Medicare Advantage plans, and making sure that your patients are aware they have options. Point patients to better plans.
Do providers need to remain neutral about Medicare?
Providers do need to remain neutral about most aspects of choosing a Medicare plan. Still, you can and should keep patients informed of all their options and ensure they are able to make the right decisions for their health. There are plenty of ways to reach out to patients who may be considering a Medicare Advantage plan:
Can Medicare Advantage be private?
Typically, patients consider a private Medicare Advantage plan after realizing the out-of-pocket expense involved with original Medicare, which can leave patients responsible for 20% of the cost of some services with no limit on out-of-pocket expenses. So why would hospitals, medical groups, IPAs, and practices need a Medicare Advantage marketing ...
Can seniors use social media?
However, with the right plan in place, you can reach future patients through…. Remember, many seniors have family members making their healthcare decisions, so don’t rule out digital and social media advertising as a way to reach those decision-makers.
What to look for when selecting a Medicare broker?
There are a few things you should look out for when selecting a Medicare agent or broker to assist you. Experience: You should go with an agent or broker with substantial experience selling Medicare plans in your state. Plan availability, benefits rules, and exceptions differ from state to state. So you should go with an agent or broker ...
What is Medicare insurance agent?
A Medicare insurance agent is a licensed expert that helps you review and evaluate Medicare plans and their benefits, and guides you in choosing a suitable one. There are two kinds of Medicare insurance agents. The first is the independent Medicare agent. This type of Medicare agent works with many different insurance companies ...
What is Medicare broker?
A Medicare agent or broker can help you streamline your options and eventually settle on one. They'll speak with you and gain a solid understanding of your finances and health needs and then offer you plans that fit within those established parameters. Once you make a decision, the agent will enroll you in the plan.
What is a captive Medicare agent?
Unlike independent agents, captive agents partner with only one insurance company and are limited to plans from that particular insurer when assisting Medicare beneficiaries. A Medicare insurance broker is quite similar to an independent Medicare agent. They're not bound to just one insurer.
How often do Medicare agents have to pass a test?
Every year they have to complete training and pass a test on their grasp of Medicare and its health and prescription drug plans. 1 Here are the main ways Medicare agents and brokers can help you:
How is commission determined for enrolling in a plan?
The commission they receive for enrolling someone in a plan is not fixed. It's determined by the contracts they have with the insurance company.
How do insurance agents get paid?
In contrast, others have merely have contracts based on enrolments they make. Most agents get paid by commission. When they enroll someone in a plan, they receive a payment for the first year of the policy.
Is Selling Medicare Lucrative?
In short, yes. The average Medicare Advantage policy pays around $262 a year in commission if the purchase replaces an existing plan. However, you can get approximately double that — $525 — if you write up a new Medicare Advantage plan for someone who hasn't had one before.
Medicare Licenses and Training
Medicare Advantage is a great line to sell, whether you're a newcomer to selling insurance or an experienced insurance professional looking to diversify your portfolio. But no matter how much experience you have, you need proper Medicare insurance sales agent training to complete the certification process.
How to Choose Medicare Carriers and Plans to Sell
Most new agents want to rush in and offer every Medicare Advantage plan from day one. It's an understandable ambition, but it can quickly become overwhelming.
Ordering Medicare Enrollment Kits from Carriers
Each carrier has its own Medicare enrollment kit, which includes handouts that policyholders need when they're considering signing up. Different carriers include various materials in their kits, but most contain:
Help Protect Yourself with E&O Insurance
As a Medicare insurance sales agent, your role is to help your clients prepare for the unexpected and help protect themselves from financial risks. You might have the best intentions, but sometimes things don't work out as planned.
Start Working Toward a Rewarding Career Selling Medicare
All of these certifications, training requirements, and legal protections can make selling Medicare insurance feel overwhelming at first. But don't let them deter you from reaching your end goal — a rewarding and lucrative career.
What does a Medicare agent do?
They need to respect the brands of insurance companies, building off of them to sell products to clients. As an insurance agent, you can be independent. You can work with different insurance companies, enrolling people in plans with any of them.
What is Medicare insurance agent?
You have a few options. A Medicare insurance agent helps people consider and evaluate different Medicare plans. They guide people toward choosing the one that is best for them. A Medicare insurance agent needs to be familiar with the ins-and-outs of every Medicare plan.
What is captive agent?
A captive agent can sign up with one insurance company in particular or an FMO. When you sign a contract with an FMO, you can sell Medicare Advantage, prescription drug plans, and supplements as long as they are appointed with those lines of authority. An FMO helps you get appointed with insurance carriers.
How does Medicare work?
The Medicare insurance agent works with people on the services they need in Medicare. You can become an insurance agent and promote the health of thousands of people. You just need to know how to get started. Here is a quick guide on how to become a Medicare insurance agent.
How many hours does a Medicare agent work?
You can hold presentations, offering your services and experience. A Medicare insurance agent works a forty-hour workweek. You will spend many of your days with clients. You will keep them updated on their current policies and sell them new ones.
Why is Medicare the most popular government program?
Medicare is one of the most popular government programs in the country because it provides for basic medical needs. More than 60 million Americans receive health insurance through Medicare. But not all Medicare programs are alike. Some offer different services than others. The Medicare insurance agent works with people on ...
Can independent insurance agents work with different insurance companies?
Independent agents have terrific flexibility, but they have to train themselves on their own with some guidance. Independent Agents reach out to potential clients on their own, without support from insurance companies.
