Full Answer
Can you make good money selling Medicare?
Earning income potential is dependent on sales commissions, talent and location. On average, medicare sales agent jobs pay around $65,000 annually, but top agents can earn six-figure incomes in just three years, suggests Redbird Network.
What are 3 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.
Can you sell Medicare supplements year-round?
As you may know, Medicare Supplements can be sold year-round and do not require new certifications annually, unlike Medicare Advantage plans.
Is selling Medicare easy?
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.
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.
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...
Can you sell Medicare door to door?
MA/PD PLANS May not market to beneficiaries door to door, including leaving materials at a beneficiary's doorstep. May call a beneficiary they enrolled in a plan to discuss plan business, as well as discuss the availability of other plan options/types within the same parent organization.
How much do Medicare leads cost?
As mentioned previously, new Medicare Advantage pay $25 for each direct mail lead.
Is Medicare easier to sell than life insurance?
But those without such coverage usually delivers lower benefits. Because the product is simple, your selling process becomes quicker, unlike traditional life insurance policies that may need more than an hour's worth of explanation.
What license do I need to sell Medicare insurance in Florida?
The 2-15 agents license allows an agent to sell all forms of Life Insurance, Health Insurance, Medicare Supplement, HMO, Home Health Care, Managed Care and Long Term Care policies in Florida.
What is one CMS marketing rule that impacts how Medicare insurance plans market to consumers?
Marketing Rules CMS also regulates marketing and plan presentations, including when you're allowed to market, and how you market. Agents must wait until October 1 to begin marketing next year's plans to potential beneficiaries and cannot enroll members until October 15.
What is MedicareCENTER?
MedicareCENTER is an all-in-one CRM, quoting, and enrollment tool for Medicare agents.
How much does MedicareCENTER access cost?
MedicareCENTER is extremely expensive, but here's the good news: agents don't have to pay a penny to use it! As long as you're contracted with us or any other Integrity Marketing Group partner, you can unlock access to MedicareCENTER.
How do I get into MedicareCENTER?
If you've never used MedicareCENTER before, you'll first need to register for an account. Keep in mind that if you're not contracted with us or any other Integrity Marketing Group (IMG) partner, you will not be approved for access.
What's new in MedicareCENTER for the 2021 AEP?
MedicareCENTER 2.1 is here! During the 2021 AEP season, you can take advantage of several new helpful features as you complete 2022 plan enrollments.
What features will be coming next to MedicareCENTER?
Medicare 2.1 is a very exciting rollout as we lead into AEP. However, the exciting new features don't stop there.
Conclusion
If you want to get into more specific MedicareCENTER tutorials, check out the MedicareCENTER Product Training page on Vimeo, which has 41 training videos.
Initial Enrollment Period for Medicare
The IEP is specific for each person as it depends on their birthday. For people who are eligible for Medicare, the Initial Enrollment Period begins three months before their 65th birthday, includes their birthday month, and ends three months after their birthday, making their IEP a 7-month time period.
Annual Enrollment Period for Medicare
AEP officially lasts from Oct. 15-Dec.7. However, seasoned Medicare agents and brokers know that the preparation for AEP can begin as early as June. AEP is the busiest time of year for Medicare agents, so it is important to have a proper marketing plan in place.
Open Enrollment Period for Medicare
OEP, which lasts from Jan. 1 to March 31, is more restrictive than AEP due to the fact that it is considered a secondary option for beneficiaries who are unhappy with the plan they chose during AEP.
Special Enrollment Period for Medicare
SEP is reserved for special circumstances. Whether there is a global pandemic or a client moves into a new zip code, there are many instances in which a client may be eligible for a special enrollment period.
When and How Should I Advertise Medicare to My Clients?
It is possible for agents to indirectly let their clients know AEP is coming up while still following MCMG guidelines. This tactic of “warming up the market” is widely used, but it is important to reference what is defined as “marketing” versus “communications.”
What is MedicareCENTER?
MedicareCENTER is an all-in-one CRM, quoting, and enrollment tool for Medicare agents.
How much does MedicareCENTER access cost?
MedicareCENTER is extremely expensive, but here's the good news: agents don't have to pay a penny to use it! As long as you're contracted with us or any other Integrity Marketing Group partner, you can unlock access to MedicareCENTER.
How do I get into MedicareCENTER?
If you've never used MedicareCENTER before, you'll first need to register for an account. Keep in mind that if you're not contracted with us or any other Integrity Marketing Group (IMG) partner, you will not be approved for access.
What's new in MedicareCENTER for the 2021 AEP?
MedicareCENTER 2.1 is here! During the 2021 AEP season, you can take advantage of several new helpful features as you complete 2022 plan enrollments.
What features will be coming next to MedicareCENTER?
Medicare 2.1 is a very exciting rollout as we lead into AEP. However, the exciting new features don't stop there.
Conclusion
If you want to get into more specific MedicareCENTER tutorials, check out the MedicareCENTER Product Training page on Vimeo, which has 41 training videos.
Is it legal to hold a Medicare event?
Holding Medicare educational events or Medicare sales events during the COVID pandemic is a legal and ethical grey area. A decision like this depends on a lot of factors, including your health, whether or not your state or county has any active lockdown or gathering restrictions, what any restrictions are (if they exist) and if you and potential attendees could follow them, what the health of your state and county looks like, as well as if your carrier is even allowing in-person member events to continue at this time.
Does Medicare offer telehealth?
Some Medicare carriers previously offered telehealth services (i.e., ones with rural service areas), but now, many more have them in their benefit packages after President Trump made an emergency declaration allowing CMS to expand Medicare telehealth! In fact, most carriers have waived cost-sharing for phone or video telehealth visits with medical professionals for their members (if not indefinitely, at least for a limited amount of time). If you’ve never really prepared to discuss telehealth coverage during AEP, there’s seriously no time like the present! Many carriers have telehealth resources and offer agent trainings on these benefits. It’s a great idea to familiarize yourself with these before the AEP starts, since they’re in demand right now.
When is the best time to sell Medicare Advantage plans?
While it’s true the Annual Enrollment Period is the prime time to sell Medicare Advantage plans, selling Medicare Supplements provides you and your clients a very important alternative during the fall.
Is Medicare Advantage the best fit for all Medicare-eligibles?
Medicare Advantage plans aren’t the best fit for all Medicare-eligibles. They have set service areas and may not be offered where your client lives. Additionally, the private health insurers who offer Medicare Advantage products often contract with certain providers to be in their network. Your client may have a doctor he’s been going to for years who isn’t in the network of the most competitive Medicare Advantage plans available in his county.
Selling Medicare Supplements
Did you know 30% of Medicare beneficiaries are enrolled in a Medicare Advantage plan? That leaves 69% of beneficiaries enrolled in Original Medicare who could benefit from a Medicare Supplement plan. You can sell Medicare Supplements year around, and they don’t require annual certifications.
Utilize Special Enrollment Periods
Special Enrollment Periods are a great opportunity to make more sales year-around. Under certain circumstances, SEP-eligible beneficiaries can enroll (or disenroll) in Medicare Advantage and Part D plans. This means you could be making money right now.
Benefits of Senior Market Advisors
At Senior Market Advisors, we make sure our agents are equipped with the necessary tools to succeed. We offer a custom-built CRM system and Medicare Supplement quote engine. These tools provide you with accurate and up-to-date plan information.
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