- Explain the Plan That Fits Your Medicare Client. Pitch the plan. ...
- Close Strongly Selling Medicare Supplements Over The Phone. Write a closing line that effectively asks for the business. ...
- Use a Phone Dialer and Automate Your Processes. Offering Medicare Supplement Insurance plans over the phone helps you save time and effort. ...
- Get Consumer Data For A Solid Plan. You now have a script and a phone dialer. You're ready to wow the first person to pick up their phone.
- Offer E-Enrollment For Your Clients. Since seniors today are comfortable with navigating the internet, electronic enrollment is an ideal way for them to speed up the process of getting the ...
Full Answer
Can you sell Medicare supplements over the phone?
Nov 20, 2019 · Knowing how to sell Medicare Advantage plans over the phone can be a giant leap for your business. First, you must be AHIP-certified, and then you must contract with all the carriers whose plans you want to sell. It’s smart to contract with as many possible so you can offer clients a variety of options.
What is it like to sell Medicare Advantage plans?
Jan 08, 2021 · How to sell Medicare plans over the phone- The set up. There are a number of ways to sell Medicare plans over the phone. The most obvious option is to get set up as a call center/telesales agency. While this set up can ultimately work very well, there are some obstacles to doing it which are time and cost.
Is it better to sell Medicare insurance by phone or email?
Oct 16, 2019 · 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. The first step is completing AHIP and obtaining the proper license in your state of residence.
Is now a good time to get involved selling Medicare insurance?
When selling to a prospect over the phone remember these 8 things: 1 Craft a Good Script 2 Know Your Plans Before You Pick Up the Phone 3 Take Time to Rehearse Calls 4 Let Your Personality Shine Through 5 Find a Way to Differentiate Yourself 6 Strike While the Lead is Hot 7 Have a Clear Concise Closing Strategy 8 Offer Online Enrollment
Is selling Medicare Advantage hard?
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.May 26, 2020
What is the commission on a Medicare supplement policy?
A recent report indicates that first-year commissions for enrollments in Medigap are approximately 20 percent of annual premiums, but they can vary based on the state or plan type. The commission for subsequent years (i.e., the renewal commission) is set at 10 percent of the premium.Oct 12, 2021
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. While some agents sell all three, others prefer to specialize in only one – either Medicare Advantage or Medicare Supplement.Mar 10, 2017
Who is the largest provider of Medicare Advantage plans?
UnitedHealthcareUnitedHealthcare is the largest provider of Medicare Advantage plans and offers plans in nearly three-quarters of U.S. counties.Dec 21, 2021
What is an FMO?
FMO — Field Marketing Organizations A field marketing organization (FMO) is basically the same as an independent marketing organization (IMO). FMOs are typically top-level organizations that are licensed to sell health insurance products in most, if not all, states.Oct 17, 2019
Can you solicit Medicare Advantage prospects through email?
Due to a change reflected in the 2019 MCMG and now in the Medicare Advantage & Part D Communication Requirements, agents are permitted to make unsolicited direct contact with potential enrollees via email.Sep 9, 2021
What is a Medicare Advantage sponsor?
CMS uses the term “plan sponsor” to describe an organization that has an approved, active contract with the federal government to offer Medicare Advantage plans, prescription drug plans, and 1876 cost plans. A plan sponsor can be an employer, a union, or a health insurance carrier.Oct 19, 2017
Can plan sponsors market to current Medicare Advantage plan members?
While insurance agents, plan sponsors and third party entities are generally prohibited from making unsolicited calls, there a few exceptions. One exception is agents and plan sponsors are allowed to call their current clients and members, respectively.Nov 17, 2014
What are the negatives of a Medicare Advantage plan?
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 Medigap, there often are lifetime penalties.
What is the biggest disadvantage of Medicare Advantage?
The primary advantage is the monthly premium, which is generally lower than Medigap plans. The top disadvantages are that you must use provider networks and the copays can nickel and dime you to death.Dec 12, 2021
Why is Medicare Advantage being pushed so hard?
Advantage plans are heavily advertised because of how they are funded. These plans' premiums are low or nonexistent because Medicare pays the carrier whenever someone enrolls. It benefits insurance companies to encourage enrollment in Advantage plans because of the money they receive from Medicare.Feb 24, 2021
What is Medicare Part A?
Medicare Part A covers hospital expenses, including hospital stays and skilled nursing care (as long it's not a long-term or custodial care).
What is a phone dialer?
A phone dialer is an automated online system that dials the numbers of prospects for you. It can pause and resume dialing, and play on-hold recordings to help you provide superior customer service. More importantly, it helps you save plenty of time from punching phone numbers manually.
How to write a sales pitch?
Otherwise, here are a few reminders when developing a script for your sales pitch: 1 Create a Quick, Concise Opening Line - Introduce yourself and what you do in one or two sentences. Don't take too long as the prospect may hang up. Also, state how long you anticipate the call to be and make sure to stick to that time schedule. 2 Qualify the Prospect Right Away - While building rapport with the prospect, qualify them so you don't spend too much time on the phone when there's nothing you can do for them. Ask their age, current insurance coverage, monthly premium, and other necessary health information to see if they can benefit from what you're about to offer.
What is a Part B?
Part B, on the other hand, is the health insurance coverage. It covers expenses that come with a doctor's office visits, lab work, outpatient surgeries, and other preventive services. Part A and Part B doesn’t cover 100% of certain health services.
How many baby boomers are turning 65?
As mentioned, 10,000 Baby Boomers are turning 65 today, and around 10,000 more will cross the retirement line every day for the next several years. Remember, these seniors won't be waiting for your sales email on a Sunday, so you better get moving, run your dialer, and start reaching out to them.
Who is Matthew King?
Matthew King is a co-owner of TR King Insurance Marketing. When he's not creating processes, content, developing training, and implementing digital marketing strategies, he likes to immerse in gaming with his wife and friends.
What is Medicare Advantage?
We’re going to focus today on selling Medicare Advantage plans. Medicare Advantage is a plan that helps fill the gaps that naturally occur with a Medicare plan. For example, common carriers include: United Healthcare. Blue Cross Blue Shield. Aetna. Humana.
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 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.
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 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.
Can you sell Medicare Advantage plans?
The unique thing about selling Medicare Advantage plans is that you don’t get to sell a product unless you’ve passed tests and meet knowledge requirements. LM: Correct. Further, you may have face-to-face training requirements before selling. You’ll be in a room of other new agents.
Do seniors need Medicare?
Most of these seniors need coverage outside of Original Medicare. You’ll have military folks with TRICARE, you’ll have some seniors that work for a company or government position offering health benefits in retirement. But outside of that, you’ll have seniors enrolling in Medicare, needing to find a plan.