Any Med Supp only agents still out there?

[Cenla Agent]

Is anyone still doing this in a day in which MA market share keeps growing? Do you also write Part D, or do you refer that to someone else because of the service work involved? If you don't sell Part D, do you just factor in the Supp sales you are likely to lose with some clients signing up for a Humana (or other) MAPD instead of just Part D? Some agents will do the Part D just to keep other agents out of the home, literally or virtually.

What I'm particularly interested in is agents who are doing all or almost all of their business on the phone or online. I remember seeing a video (from the Medicare Supplement Conference?) about a man who was writing a ton of Medigap business, all over the phone. I think he was licensed in about 10 states, and perhaps a lot more.

I think part of why I've hesitated to totally go this route in the past is that my state and the surrounding ones are poor and unhealthy. A lot of people can afford the Med Supp when they turn 65, but when they take a couple of rate increases and they need to switch, many cannot do so for health reasons, and some of them eventually can't afford it regardless. Maybe I need to find other states to sell in!

 

[Todd King]

Yes, LA is not good for Supps. Sell in other states.

 

[sman]

Is anyone still doing this in a day in which MA market share keeps growing? Do you also write Part D, or do you refer that to someone else because of the service work involved? If you don't sell Part D, do you just factor in the Supp sales you are likely to lose with some clients signing up for a Humana (or other) MAPD instead of just Part D? Some agents will do the Part D just to keep other agents out of the home, literally or virtually.

What I'm particularly interested in is agents who are doing all or almost all of their business on the phone or online. I remember seeing a video (from the Medicare Supplement Conference?) about a man who was writing a ton of Medigap business, all over the phone. I think he was licensed in about 10 states, and perhaps a lot more.

I think part of why I've hesitated to totally go this route in the past is that my state and the surrounding ones are poor and unhealthy. A lot of people can afford the Med Supp when they turn 65, but when they take a couple of rate increases and they need to switch, many cannot do so for health reasons, and some of them eventually can't afford it regardless. Maybe I need to find other states to sell in!

I'm not a Med Supp only agent (I do Med Supp, MAPD and PDP), but I do most of my business over the phone and electronically. Have been for several years. While I am licensed in several states, the majority of my business is in Georgia. I also don't do any marketing. It's all referral. Of course, it wasn't that way when I first started, but it is now. I could probably write more business if I wasn't so lazy these days.

Somarco does only Med Supp so he can likely answer your questions as it relates to not doing MAPD. I believe he does assist his clients on PDP coverage. Which I believe is wise for two reasons. First, it adds value and the clients appreciate that. Second, it prevents another agent from getting a foot in the door to try and take his Med Supp business.

 

[Cenla Agent]

Yes, LA is not good for Supps. Sell in other states.

North LA is a lot better than South LA, especially the Baton Rouge and New Orleans areas. About the only people who buy Supps in Southeast Louisiana are those with $$ with the attitude of "Dammit, I'm an American and nobody is going to tell me what doctor I can go to." And that ain't a whole lot of folks.

 

[mickeyma]

Susan Hatch = medicaretoday.net She has been proclaimed the #1 Medicare Supp agent in California and only sells Med Supps.

She advises against selling Part D because of the complaints from clients (drugs dropped or changed to higher tiers). I disagree. By pitching BOTH Med Supp & Part D, I am offering a package which solves their needs and saves them from the confusing search for a Part D plan. Especially because in California, Part D plans with low prices have a deductible of $450 but prospects are not knowledgeable enough to compare the plans.

As for selling Med Supp over the phone, see Chris Westfall at medicareagenttraining.com.
He is nationally known and highly regarded on this forum.

Then there is the difficulty of selling based on area. Westfall advises only sell Med Supps in areas with less than 20% of Medicare Advantage plans. In Southern California, CMS says the Med Advantage penetration is 48%. You can find this data from CMS website:
https://www.cms.gov/Research-Statis...=1&DLEntries=10&DLSort=1&DLSortDir=descending

Because of the traffic, I do almost all of my selling over the phone. Not real difficult. The hard part is contacting people. Caller id and answering machines make it near impossible to contact 75% of any leads.

 

[sunny1ib]

I too, write business by phone, fax and via online. It’s the best way for me to work. I am multi-state licensed. My base is Florida and now I am back to my home state of Maine.

I prefer working this way to the old ways of doing business.

 

[somarco]

Medigap only.

Assistance on PDP. Not the writing agent.

I don't lose clients to MAPD. OK, may 2 or 3 per year. Lose more to death than MAPD. Guess you could say my clents would die before they would enroll in an MAPD plan.

Phone only. No screen sharing.

No fax. Email only.

Currently about half my new biz is referral, the rest captured from the web.

Don't believe everything you see on the web about folks making $1 million per year in their underwear. The video you referenced most likely has a story behind the story.

There are a few agents making 7 figures on the phone but few if any fly solo. Most will have sub-agents. Some of those agents are using their upline's WA number. Commissions go upline and big dog gives you a cut.

Poor unhealthy folks can't afford to get sick on an MAPD plan. The excuse that they can't afford a Medigap doesn't resonate with me.

But I don't target low income folks either.

Only licensed in GA. Once I write everyone here I will consider getting licensed elsewhere.

As long as folks keep finding me and they have their checkbook open I don't need to poach other states.

Oh, and I shoot trespassers.

 

[goillini52]

As for selling Med Supp over the phone, see Chris Westfall at medicareagenttraining.com.
He is nationally known and highly regarded on this forum.

Really?

 

[Todd King]

As for selling Med Supp over the phone, see Chris Westfall at medicareagenttraining.com.
He is nationally known and highly regarded on this forum.

He isn't well respected much of anywhere, especially on this forum!

 

[DS4]

Med Supp only
Face to face in my office only.
I'm certified with 23 of the 31 Part D plan here in Calif.