Best Advice for Just Getting Started in Senior Products

[aliceintexas]

I passed my Texas health/life test last month and just passed ahip a couple of days ago. I've started working with one of the NMOs that folks on this forum seem to recommend frequently (Precision Senior Marketing) and they've been helpful to get me applied and now in most cases set up with a handful of insurance companies for MA/PDP/Med sup.

I've not bought leads yet, (but I am budgeted for that, and I'm ready to pull the trigger...just not sure where to start), and I'm not 100% finished with all the carrier's training/testing, but I think I'm close.

I have 25 years of high end B2C phone based sales experience - that piece doesn't worry me at all. But I am absolutely terrified of all the rules and regulations, the figuring out of best practices, what tools do you use - how do you keep everything straight with so many carriers and so many requirements? The mountains of required training...how do I really translate all of that into daily practice.

If any experienced rep is open to letting me pick your brain for a few minutes, I'd be so greatful. I feel a little overwhelmed.

 

[somarco]

The really dumb rules that defy logic apply to MA and PDP plans.

They also apply to agents but not carriers, 800 MEDICARE agents, SHIP volunteers, etc.

Medicare supplement plans don't have the same constraints. Just use common sense when dealing with Medigap and you will be fine.

 

[Newby]

I passed my Texas health/life test last month and just passed ahip a couple of days ago. I've started working with one of the NMOs that folks on this forum seem to recommend frequently (Precision Senior Marketing) and they've been helpful to get me applied and now in most cases set up with a handful of insurance companies for MA/PDP/Med sup.

I've not bought leads yet, (but I am budgeted for that, and I'm ready to pull the trigger...just not sure where to start), and I'm not 100% finished with all the carrier's training/testing, but I think I'm close.

I have 25 years of high end B2C phone based sales experience - that piece doesn't worry me at all. But I am absolutely terrified of all the rules and regulations, the figuring out of best practices, what tools do you use - how do you keep everything straight with so many carriers and so many requirements? The mountains of required training...how do I really translate all of that into daily practice.

If any experienced rep is open to letting me pick your brain for a few minutes, I'd be so greatful. I feel a little overwhelmed.

The people you are contracted through should be the only ones you are listening to about how to legally and effectively market your products you have contracted through them. Have them teach you exactly what their top producers do and just do exactly the same thing. Don’t re-invent the wheel.

The strict marketing regulations are mainly on the Med Advantage products and RX plans. Supplements are much easier to market because they just add to Medicare A&B and are not replacing a Medicare and are not funded by the government.

 

[Josh]

It's been years since I did anything with Medicare, but I always found looking through the "Medicare and You" books helplful, largely because it gave me a common reference point with my prospects/customers. "Hey, did you read that book Medicare sent you? It's a great way to put yourself to sleep at night " or something along those lines. But it had verbiage and explanations in certain ways and I found being able to use that as a common reference point helped increase my understanding, but also gave me a common reference point with the prospect/customer.

 

[Chazm]

Worry about getting in front of clients (phone or f2f2) first.
Main rules for mapd: don’t cold call. Set an appt and get a scope. Then show a plan and write it. Not much else to it.

Don’t use absolutes (best plan etc). don’t over promise the plan, just read the summary of benefits.

The biggest thing is document everything during an appt.
I use my CRM on an appt and write any notes that can cover my ass later on.
ie. Client wanted to be billed directly. I told the client there is a penalty if not taking part B, D. I mentioned to client the coverage gap that they may hit. Etc.

 

[vic120]

The people you are contracted through should be the only ones you are listening to about how to legally and effectively market your products you have contracted through them.

Are you sure about that

I have heard some really bad advice coming from some FMO's and marketers

Do you think CMS will accept MY Upline said its ok And more than like a bad upline will know how to deny anyway

 

[sshafran]

Market *yourself* more than anything... "I am independent / local / blah blah."


(Dont't copy that ad ^ copy... its trademarked).

Regulations - mapd and PDP are no big deal at all. No matter what anyone says - it's no big deal. What chaz said + when you market, do not put things in writing about specific plans.

Have a plan with $0 premium and $0 doc copay? Great. Just don't write about it (seniors won't care anyway).

I once ran an ad saying that we had 198 options in X county. My point in the ad was simply to highlight how there were too many options and they needed help choosing.... and if they didn't use my free help, they could waste time and/or lose money.

The ad was 100% generic, 100% truthful, and it generated inbound phone calls.

Market you specifically. Market products generically. Talk to a ton of people then wake up one day on January 1 with renewals planned at pretty good 6 figures.

 

[Newby]

Are you sure about that

I have heard some really bad advice coming from some FMO's and marketers

Do you think CMS will accept MY Upline said its ok And more than like a bad upline will know how to deny anyway

My point is that if she is brand new to selling Medicare her #1 reason to be under the Upline she chose to be under is because they are who she chose to learn from. She needs to buy in 100% with what they are teaching.

 

[sshafran]

My point is that if she is brand new to selling Medicare her #1 reason to be under the Upline she chose to be under is because they are who she chose to learn from. She needs to buy in 100% with what they are teaching.

Haha.

No Medicare upline is teaching much these days. An upline is a useful place to get a contract and hopefully some marketing money.

You learn 10X more from other agents, which is what the OP is doing.

Let's not try to inflate the importance of the hired help, lol, the FMO is the useful *** needed for the contract. That's about it...

 

[Newby]

Haha.

No Medicare upline is teaching much these days. An upline is a useful place to get a contract and hopefully some marketing money.

You learn 10X more from other agents, which is what the OP is doing.

Let's not try to inflate the importance of the hired help, lol, the FMO is the useful *** needed for the contract. That's about it...

Have you ever been under an FMO that trains? Or just the cattle call FMOs?

I know that off the top of my head Todd King, EFES, Chris Westfall and 360 all promote that they train agents to sell Medicare. I’m sure there are many more but these are FMOs that the forum regulars are familiar with. Do they not actually do this?