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 Informational blogs and social media posts Posters in your office Referring patients to an informational page on your website with a lead capture
Full Answer
Do you need a field marketing organization to market Medicare Advantage?
While you can market Medicare Advantage (MA) plans yourself via direct mail, digital marketing, or traditional marketing (media buying), that can be costly and time-consuming. Another option is contracting with a Field Marketing Organization (FMO).
What do the new guidelines mean for Medicare Advantage Marketing materials?
The guidelines allow organizations offering both Medicare Advantage and Prescription Drug Plans the ability to reference one document when developing marketing materials.
What is the Medicare Advantage market?
That’s an enormous potential market that you should focus on. Medicare Advantage (MA) plans offer supplemental benefits that Original Medicare does not cover. Those benefits can include dental, vision, hearing, and fitness classes. Why Sell Medicare Advantage Plans?
How do I reach out to patients who are considering Medicare Advantage?
There are plenty of ways to reach out to patients who may be considering a Medicare Advantage plan: Reaching out to prospective patients can be a little tricky, as they receive so many informational brochures, mailers, and emails during open enrollment and when they turn 65.
How do I advertise my Medicare Advantage plan?
Medicare Advantage Marketing to current patientsTargeted mail and emails for patients 65+Reminders for current patients during open enrollment.Informational blogs and social media posts.Posters in your office.Referring patients to an informational page on your website with a lead capture.More items...
How can I attract more people to my Medicare?
If you want to target Medicare patients on social media, it's especially important to have Facebook and YouTube since the audience skews older. Content on these platforms should include health insights, industry news and behind-the-scenes content of events and staff achievements.
Who sells the most Medicare Advantage plans?
UnitedHealthcareStandout feature: UnitedHealthcare offers the largest Medicare Advantage network of all companies, with more than 1 million network care providers. UnitedHealthcare is the largest provider of Medicare Advantage plans and offers plans in nearly three-quarters of U.S. counties.
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 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...
What is the biggest disadvantage of Medicare Advantage?
Medicare Advantage can become expensive if you're sick, due to uncovered copays. Additionally, a plan may offer only a limited network of doctors, which can interfere with a patient's choice. It's not easy to change to another plan. If you decide to switch to a Medigap policy, there often are lifetime penalties.
Are there disadvantages to a Medicare Advantage plan?
Medicare Advantage offers many benefits to original Medicare, including convenient coverage, multiple plan options, and long-term savings. There are some disadvantages as well, including provider limitations, additional costs, and lack of coverage while traveling.
How popular are Medicare Advantage plans?
All that marketing seems to be working. Recently, 42 percent of Medicare beneficiaries were enrolled in Advantage plans, up from 31 percent in 2016, according to data from the Kaiser Family Foundation. Those numbers include 50 percent of Black and 54 percent of Hispanic enrollees vs. 36 percent of whites in 2018.
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 is the largest source of payment for health care services?
The Centers for Medicare and Medicaid Services is the largest governmental source of health coverage funding. Medicare is financed through a combination of general federal taxes, a mandatory payroll tax that pays for Part A (hospital insurance), and individual premiums.
Why do Medicare Advantage plans exist?
Medicare Advantage plans try to prevent the misuse or overuse of health care through various means. This might include prior authorization for hospital stays, home health care, medical equipment, and certain complicated procedures.
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 are the Medicare marketing guidelines?
The Marketing guidelines reflect CMS' interpretation of the marketing requirements and related provisions of the Medicare Advantage and Medicare Prescription Drug Benefit rules (Chapter 42 of the Code of Federal Regulations, Parts 422 and 423).
Can Medicare Advantage and Prescription Drug Plans use one document?
The guidelines allow organizations offering both Medicare Advantage and Prescription Drug Plans the ability to reference one document when developing marketing materials.
What is the difference between Medicare Supplement and Advantage?
As long as you’ve done that you’ve done your CYA. The other difference between a Supplement and an Advantage plan is you have a prescription portion. So you’ve got to sell a prescription drug plan with a Medicare Supplement.
What is the certification test for Medicare Advantage?
Selling Medicare Advantage plans, you get a contract with a carrier, but once you’re contracted with that carrier every year that you are in Medicare Advantage sales, you’re going to have to take a certification test called AHIP. A lot of people freak out, “Oh, it’s so hard.”. Well, it’s Medicare 101. You need to know the product that you’re ...
How often do you need to take AHIP certification?
Now, certifications in AHIP have to be done every year. It’s a yearly requirement for all Medicare Advantage agents. DD: When you take these certifications, you’re learning all the intricacies of the product, which helps you sell more Medicare Advantage plans. So, these tests are important.
What is the age limit for Medicare?
LM: When somebody has Medicare they’re normally 65 and over. You do have a segment of the population under 65 that get Medicare who are usually disabled. Once someone is on Medicare they have two options – Medicare Advantage or Medicare Supplement. There’s not a good or a bad option, there is simply two options.
Can you door knock Medicare Advantage?
Now in the Medicare Advantage world if you don’t have permission to contact you’re not supposed to contact. You can’t door knock for Medicare Advantage, so you’ve got to wait for it to come to you, but you can put a lot of honey out there to attract the bees.
Does Medicare Advantage include prescriptions?
For Medicare Advantage a prescription plan is included. The copays per carrier are probably different, but they function the same way. All you’ve got to do is pull up the formulary, which is usually in a PDF and just do the search for the medications and make sure they’re in there.
Can you make a ton upfront selling Medicare Advantage?
Selling Medicare Advantage insurance, you don’t make a ton upfront.
How to become a Medicare guru?
Here are your basic steps: Establish yourself as a Medicare guru in your community. Develop a marketing plan to ensure prospects are calling you (since you can't call them). Offer Medicare Advantage to your existing client base. Send a scope of appointment (SOA) using MedicareCENTER.
How long does Medicare store scope of appointment?
Also, MedicareCENTER will store the scope of appointment indefinitely, so you can be sure you have it on file for the required 10 years. If you're selling Medicare Advantage over the phone, you cannot skip the scope of appointment. Utilize the handy or email or text feature and you'll be done in less than 3 minutes!
How to start marketing specific plans?
The easiest way to start marketing specific plans or carriers is to go to the carrier's agent portal and select a piece they've created.
Can you make outbound calls to sell Medicare Advantage?
How to Get Prospects to Call You. In general, you can't make outbound calls to sell Medicare Advantage plans. There are a couple of exceptions, like calling existing clients or returning phone calls, but it's mostly off-limits. In order to sell Medicare Advantage over the phone, the obvious hurdle is finding a way to get on the phone with prospects!
Can you call a non-Medicare enrollee?
You can call current enrollees, including those in non-Medicare products, to discuss plan business. You can return phone calls or messages. You can call when you get permission, such as from a business reply card or an email requesting a return call. You can't make unsolicited phone calls to prospective enrollees.
Can you make unsolicited calls to Medicare?
You can't make unsolicited phone calls to prospective enrollees. You can't call about other business as a way to generate Medicare leads (bait and switch). You can't call referrals – the referred person needs to call you.
Is a marketing piece not a carrier?
Any marketing pieces not mentioning a specific plan or carrier are typically categorized as communications – not marketing. These must adhere to the CMS language guidelines, but they don't need approval from CMS. We have developed a library of pieces you can utilize that adhere to the CMS guidelines.
