how to get clients for medicare advantage plans

There are plenty of ways to reach out to patients who may be considering a Medicare Advantage plan: Targeted mail and emails for patients 65+ Reminders for current patients during open enrollment

Full Answer

Where can I take my client to get Medicare Advantage?

You go to any doctor, specialist, or hospital accepting Medicare and they’re fine accepting your client’s Medicare Supplement. How complex is selling Medicare Advantage insurance?

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.

When can my client enroll in a Medicare Advantage prescription drug plan?

If your clients want to enroll in a Medicare Advantage Prescription Drug (MAPD) plan or a Medicare Part D (prescription drug) plan, they can enroll from April 1 to June 30. Your client must have both Medicare Part A and Part B to enroll in a MAPD, but they only need Part A or Part B to enroll in a Part D plan.

How can I Help my Patient choose a Medicare plan?

Give patients who ask about Medicare a safe place to go. During open enrollment and leading up to a 65th birthday, people are bombarded with offers from competing plans and providers. Help give them the information they need to make an informed decision. Providers do need to remain neutral about most aspects of choosing a Medicare plan.

How do I sell to a Medicare Advantage Plan?

To sell Medicare Advantage plans, you'll have to complete the America's Health Insurance Plans (AHIP) certification in addition to each carrier's compliance and product certifications. These certifications exist to help protect seniors and reward agents who do things the right way.

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.

Is selling Medicare Advantage lucrative?

Selling Medicare can be very lucrative, but just like any other self-starter type of job, the more effort you put in, the bigger the payoff. When it comes to making money selling Medicare, there are two main ways you can earn income which include commissions and residual income.

What are the three sources of revenue for Medicare Advantage plans?

Three sources of revenue for Advantage plans include general revenues, Medicare premiums, and payroll taxes. The government sets a pre-determined amount every year to private insurers for each Advantage member. These funds come from both the HI and the SMI trust funds.

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 can I get free Medicare leads?

Essential Care Insurance Agency provides a free Medicare Lead program to agents who have a contract with us. There is no minimum production requirement for this reimbursement package to begin. You purchase leads from any vendor and are reimbursed 100% of the cost of the leads.

How much do Medicare leads cost?

As mentioned previously, new Medicare Advantage pay $25 for each direct mail lead.

Is selling Medicare insurance a good career?

Medicare agents have significant earning potential and a promising future of stable career growth – but it's not just about the money. Medicare agents also get to help others while taking control of their own careers. For the right person, Medicare sales can be a very rewarding and lucrative career.

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.

Are Medicare Advantage plans profitable for insurance companies?

Medicare Advantage is the common thread. Big-name health insurers raked in $8.2 billion in profit for the fourth quarter of 2019 and $35.7 billion over the course of the year.

What are the 4 types of Medicare?

There are four parts of Medicare: Part A, Part B, Part C, and Part D.Part A provides inpatient/hospital coverage.Part B provides outpatient/medical coverage.Part C offers an alternate way to receive your Medicare benefits (see below for more information).Part D provides prescription drug coverage.

What is the largest source of payment for health care services?

Medicaid is the largest source of funding (from patient revenues and supplemental payments) for community health centers and public hospitals, the nation's safety-net providers that serve the poor and uninsured.

What Is Medicare Advantage?

DD: I’d like to start with the basics, Luis. I’m sure there are a lot of people who have heard about Medicare, maybe they’re brand new agents or so...

Is Medicare Advantage A Tough Sell?

DD: When I started in final expense sales, I saw many Medicare Advantage prospects, but I never sold any Medicare Advantage plans.Why? Because agen...

How To Get Certified To Sell Medicare Advantage Plans?

DD: What’s the process for somebody who wants to learn how to become a Medicare Advantage insurance agent?You have to do more than getting your ins...

What Happens After AHIP?

Once you get that AHIP done then you’ve done about 70% of your required certifications.Each carrier that you’re appointed with wants to make sure t...

What Are The Long-Term Benefits Of Selling Medicare Insurance?

DD: What would you describe as the long-term advantages selling Medicare Advantage plans as your primary line of business?LM: When you’re doing cro...

Commission For Selling Medicare Advantage Plans?

DD: A lot of agents are looking at this like we’ve talked about it from a final expense standpoint.They’re used to getting pretty high first year c...

How Long Would It Take To Write 500 Sales?

DD: How long do you think it would take to write 500 pieces of business? Somebody who’s serious about this business, they’re full-time, they really...

Can You Cross Sell?

DD: When we look at new Medicare Advantage clients, ones that we found or wrote from maybe one of these referral partners, what’s the guidelines on...

When Can You Sell Medicare Advantage?

DD: A lot of agents look at the Medicare Advantage business and think they can only sell these products when the person turns 65 and then if not, o...

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.

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 ...

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.

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.

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.

Why Sell Medicare Advantage Plans?

Typically, insurance carriers offer higher commissions for MA plans than Medicare Supplements or Part D plans.

How to Sell Medicare Advantage Plans

Before you can start selling Medicare Advantage plans, you must receive the proper training, licensing, and certifications. Check with your state’s department of insurance to learn about state-specific requirements. After you’re licensed, the next step is marketing your services.

When Can I Sell Medicare Advantage?

Many Medicare-eligibles have restrictions on when they can enroll in new plans. You need to know the specifics of each enrollment period and how they apply to your clients.

Selling Medicare Advantage Over the Phone

You may have heard that you can sell Medicare Supplements over the phone, but you want to know how to sell Medicare Advantage plans over the phone.

How Much Can I Make Selling Medicare Advantage Plans?

The Centers for Medicare and Medicaid (CMS) sets maximum compensation amounts that carriers can pay agents for sales. Click here to read more about agent compensation.

Important Terms to Know When Selling Medicare Advantage Plans

You want to answer clients’ questions with confidence, so it’s important to know the terms they’ll ask about. Here are some common terms beneficiaries will ask about:

Start Selling Medicare Advantage Insurance Today

Selling Medicare Advantage plans can be a lucrative career. At Senior Market Advisors, we give our agents tools for success such as extensive training so you can answer questions with confidence.

What to do if you are on good terms with Medicare?

If you are on good terms, consider an agreement to exchange leads. Network with an Annuity or LTC specialist, or maybe a Retirement Planner or Investment Specialist that works with seniors but doesn’t want to deal with Medicare products. You have the same potential clients, so it should be beneficial to both parties.

What is the most effective way to stay in touch with your customers?

Social Media is one of the most effective methods of staying in touch with your prospective customers, and seniors are the fastest growing demographic using social media . Provide entertaining and educational content relevant to your relationship on an ongoing basis will give you credibility and keep you top of mind.

Is referral marketing gold?

Referrals are marketing gold. You may be tempted to offer an incentive to your clients for referrals . This may or may not be acceptable, depending on regulations from your states insurance department. Make sure you check with carriers and your state insurance department for direction before offering any incentives.

Is telemarketing still viable?

With the advent of the internet, smartphones and the various e-communication trends that continue, it’s no doubt that telemarketing response rates have dropped. However when done properly it can still be a viable and inexpensive method to generate leads and close sales.

What is Medicare Advantage Plan Network of Agents?

The Medicare Advantage Plan Network of Agents is a Medicare Insurance Agency representing most major national plans and carriers in America. Our successful business model is to work with local Independent Medicare Insurance agents and provide them with the infrastructure and training they need to help people like you with Medicare insurance.

What are the benefits of Medicare Advantage?

Medicare Advantage plans provide financial protection with maximum out of pocket limits , not offered by Original Medicare. Most Advantage plans offer extra benefits not offered in Original Medicare, including dental, vision, hearing and more. More freedom to customize your health care to your unique needs.

What is a copayment in Medicare?

Copayment – A dollar amount you may be required to pay as your share of the cost for a medical service or supply. This may include a visit to the doctor, a prescription drug, or a hospital visit. Important note: Pre-existing conditions do not apply to Medicare Advantage plans. Contact us today to find out more.

Does Medicare Advantage include Part A?

Consider the following: Medicare Advantage Plans are bundled plans that must include all Part A, Part B, benefits offered by original Medicare and most will include Part D drug coverage.

Is there a fee for a Medicare agent?

There is NEVER a fee charged to the consumer for agent services. All of our network agents earn commissions from the carriers. The commissions are regulated by the Center of Medicare and Medicaid services, a federal agency. This regulation creates a level playing field for all plans to compete for your business.