Full Answer
How to get started in Medicare sales?
- Visit the Social Security website.
- Call Social Security at 1-800-772-1213 (TTY users should call 1-800-325-0778), Monday through Friday, 7AM to 7PM.
- If you worked for a railroad, call the Railroad Retirement Board at 1-877-772-5772 (TTY users call 312-751-4701), Monday through Friday, 9AM to 3:30PM.
How do I get licensed to sell Medicare?
- Becoming a Six-Figure Senior Market Advisor
- Agent writes 5-7 Medicare plans weekly
- Get certified to sell Humana Medicare plans
How to start selling Medicare insurance?
How to start selling Medicare Insurance 3rd Step-. Take the AHIP (America’s Health Insurance Plans) Medicare certification. Nearly all carriers now require that an agent take the AHIP certification every year prior to being able to sell Medicare plans. AHIP cost $175 but you can get it for a lower rate if you take it through an insurance company.
How to successfully sell Medicare plans?
alleviate the administrative workload. pay 50% of your marketing costs. ensure commissions are paid on time AND get you paid multiple times a month. grow business much faster. Here’s some data on how new agents just like you have leveraged AGA’s FMO to grow their Medicare Sales in just a few short years.
Is there money in selling Medicare?
Is Selling Medicare Lucrative? In short, yes. The average Medicare Advantage policy pays around $287 a year in commission if the purchase replaces an existing plan. 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.
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.
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...
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.
Can you sell Medicare door to door?
Medicare does not send "representatives" to solicit your business. Unsolicited sales calls are prohibited: Federal regulations prohibit unsolicited telephone calls, door-to-door visits, emails and other forms of sales without your permission.
How much do Medicare leads cost?
As mentioned previously, new Medicare Advantage pay $25 for each direct mail lead.
How do you market Medicare products?
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 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 do I get more Medicare referrals?
How to Build a Referral NetworkIllustrate consistent short-term value. Start with what you have. ... Run maintenance with quality customer service. A good insurance agent helps beneficiaries find good plans. ... Deliver on promises in the long-run. Empty promises are what can tarnish your personal brand.
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.
Are Medicare brokers unbiased?
Working with an independent Medicare insurance agent means you get to choose policy options from different companies. Independent agents and brokers are more likely to give unbiased plan recommendations and advice. But they may not have in-depth knowledge of these plans.
Can you sell life insurance and Medicare at the same time?
Under CMS guidelines, brokers are not permitted to cross-sell nonhealth-related products during a Medicare Advantage or Part D sale. So, anything that is not a health-related product, such as life insurance policies or annuities, cannot be cross-sold during a Medicare sale.
Why are Medicare sales so high?
Most companies pay the same commission for seven years and some even pay for life. Plus, Medicare sales are at an all-time high because of the aging population.
How long does it take to get a six figure income from selling Medicare?
Selling Medicare can steadily help you build a six-figure residual income in as little as 3-4 years. At that point, you’ll have a great six-figure salary.
How long does Medicare Supplement pay commission?
Here are the two most important things you need to know about Medicare Supplement commissions. Medicare Supplements pay the same commission for seven years.
What is Medicare Supplement insurance?
Original Medicare Part A & B + Medicare Supplement + Part D. Medicare Supplement insurance is also referred to as a Medigap policy by CMS. These names are interchangeable. Your client should expect to pay monthly premiums for Original Medicare Part B, their Supplement and their Part D drug plan.
How long does Medicare Part B last?
Your clients IEP begins 3 months before the month they turn 65, their birth month and ends 3 months after. Below are some common examples of Medicare Part B covered services: Doctor’s visits. Ambulance services.
How much is Part B insurance?
Part B premiums can be as low as $134 or as high as $428.60. The range in price is directly correlated to your client’s income. If for some reason your client doesn’t elect Part B on time, they will be subject to a late enrollment penalty of 10% for every full 12 months they delay enrollment.
Does Medicare Part B have a deductible?
The Medicare Part B enrollment penalty can be waived in instances where the proposed insured has credible coverage, for example, they have existing coverage through an employer. Lastly, Medicare Part B has an annual deductible of $183 (2017 data). This deductible must be met before Medicare will begin paying.
How much can you make Selling Medicare?
Selling Medicare is part of the financial services industry, which has a track record of generating more millionaires than any other industry.
Get Licensed to Sell Medicare
In order to sell Medicare, you must become a licensed life and health insurance agent in your state (or any state that you plan on selling in).
Partner with a Medicare FMO
A Field Marketing Organization (FMO) is the link between Medicare insurance carriers and independent Medicare sales agents.
Complete AHIP & Carrier Certifications
AHIP (America’s Health Insurance Plans) is an industry-recognized certification test. If you want to sell Medicare Advantage products, then you must become AHIP certified for most carriers.
Prepare for Success
Now that you are licensed, contracted, and certified, it’s time to create your Medicare Business Plan. This includes setting your production goals, developing a lead generation and client retention strategy, and leveraging the support available through your Medicare FMO.
Where do insurance agents meet?
Insurance agents traditionally sell Medicare plans on a face to face basis. They usually hold meetings in either clients homes, a public venue or their own office. If they have one. This is how a majority of our agents write Medicare plans.
Can Medicare Supplements be sold online?
While Medicare supplements are often the most popular plans to sell online, some agents do also offer Advantage and part D plans.
Open Doors
Talking about Medicare opens the door for the cross-sale. Lower your client acquisition cost while solidifying your households and renewals. Whether you are brand new to the industry or looking to just add Medicare plans to your portfolio offerings to be a more well-rounded agent, learntosellmedicare.com can help you be successful!
It's Easy!
With us on your side, the odds are in YOUR favor! There is NO reason for you to refer your clients out to someone else because you don’t understand Medicare. Let us show you how easy it is. Look at how much money you have given away by referring business out or how much money you will make once you understand how to sell Medicare plans.
How Much Money Can I Earn Selling Medicare?
There are NO caps on your earning potential. As with starting any new business, you will get out of it what you put into it.
Making your new career easier than ever to begin!
Do you want to offer multiple carriers but are slightly intimidated by having to learn ALL of the carriers and VARIOUS policies available to your clients? Let us help make it easy for you!
Property and Casualty Agents
Improve Client Retention – As clients turn 65, many will consolidate their P&C insurance under a single provider that also offers Medicare. By selling Medicare, you will be better established to preserve your book of business for the life of the customer.
Seasoned Medicare Agents
No-Cost Leads – When you become a Preferred Agent in our partner program, you gain access to a stream of leads. Some leads are at no cost to you, and other leads can be purchased.
Persons Seeking Residual Income
New Career Opportunity – We have the tools, training and support to help individuals who are interested in starting a new career. Providing education, field support and smart business management solutions we will help you succeed.
What is Medicare quoting engine?
2. Medicare Quoting Tool / Online Quoting Engine - A Quoting Engine makes it easier for agents. to have access to accurate, up-to-date pricing and plan details for the nations top senior.
Do you need certification for Medicare Supplement?
Medicare supplement products however, do not require any additional certifications beyond your state’s licensing requirements.
How to become a Medicare agent?
The first step to becoming a licensed Medicare agent is to complete a pre-licensing course. You can usually choose to take this course in a traditional classroom setting or online in a self-study format if you prefer. Choose your state of residence , select the “Life and Health” option , and then choose the exam prep package that best suits your needs. Once you’ve completed the course, you’ll receive a Certificate of Completion that is valid for one year from the date it was issued. You will need to pass your state licensing exam within this time.
Is selling Medicare a good job?
Selling Medicare is a great line of work for individuals who are professional, outgoing, and self-motivated. It can also be a very lucrative line of work if you’re willing to work as hard as you can and set ambitious goals for yourself.
How to sell Medicare plans over the phone?
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. Call scripts will need approval by the carriers.
What to do if you don't have experience in Medicare?
After you have an insurance license, there are steps to take for contracting and certifications. Use the link for step by step instructions. Medicare contracting and certifications guide.
