Best Way to Market Medicare Supplements? I need help!

[senior-advisor-indiana]

I won't sell it because I don't like their model. If a client wants KP I tell them to get it on their own direct with KP or I give them the name of another agent who will write it (no split... what goes around comes around.)

Al,
What is the difference in selling the plan or sending it to an agent that you know will write the plan? This agent must not have very good standards if they are selling "crap" plans. That seems just as "unprofessional".

So now this person instead of paying over a $1,000 in unneeded premium per year, they spend $180 per year, rates never go up

Ramiz,
The indemnity plans' premiums are gauranteed but the MA's are not.

 

[Guest]

Al,
What is the difference in selling the plan or sending it to an agent that you know will write the plan? This agent must not have very good standards if they are selling "crap" plans. That seems just as "unprofessional".

Your point is well taken and I've given it a lot of thought in the past. It comes down to what allows me to sleep best at night.

Basically I don't attempt to enforce my standards on other agents. What they do is their business. If the client wants what I think is a "crap plan" and if another agent will sell it to them because he or she does not share my view of the plan(s), that is fine with me. It is only unprofessional if I sell it... because it is contrary to what I think is best. However, if their neighbor has a Mega or UA or some Blue PPO Plan X and the client wants same, I'll be happy to refer them to someone who will provide it. They are entitled to a second opinion and entitled to get what they want... just not from me!

My analogy is the doctor who will not perform an abortion but will belong to the same club as the doctor who does... and refer cases to him or her. Another example is a rabbi who will not perform a mixed marriage but will refer the prospective bride and groom to one who will.

"To thine own self be true." Other agents are not my business, my concern, nor my responsibility.

"Mr. Client, I won't sell you this plan because it only has generic drug coverage and I only sell plans with at least generic and name-brand coverage. However, if this is the plan you really want, you might want to speak to Susan Smith who is a good agent but has a different opinion on this than I do. Good luck to you."

One thing to note is that this does not happen more than once or twice a year. I can be pretty persuasive and most often when I'm willing to walk away from selling the plan the client is usually convinced that it is not in his or her best interest to get it. (But just last month I lost one to UA. No matter what I said or how I said it the client wanted a limited benefit UA plan. I guess the UA gal was just a better salesperson than I was. I'm sure she is not the only one!)

I do the best I can to keep my client from being "stupid." If they want Mega, UA, or Tonik, or some "saver" plan that I don't like, I let them get it on their own... and try to move on to their life and or LTC needs.

This works for me but I fully understand that others have a different opinion on this and it is not my place to enforce my beliefs on them.

My position is not to sell a product that is not in the best interest of the client, even if they want it. For me that is a violation of my principles of integrity and professionalism as I define them.

And while I might not agree with what other agents do, I don't take it to the mat and try to enforce my philosophy on their practice any more than I would want them to try to enforce theirs on mine.

Live and let live. As Fleetwood Mac sang "You can go your own way."



(The beginning is no big deal, but 3:45 into this is one of the best examples of "my generation's" rock and roll you will ever hear. Of course YMMV.)


Al

 

[Newby]

Al, it took me a minute to figure out that was Fleetwood Mac. I thought it was the "puffy shirt" episode of Seinfield.

 

[Mr. Bill]

Nicely done, but I'll take GNR any day of the week, they weren't really that long after the Mac.

 

[jmrsjmrs]

Re: Best Way to Market Medicare Supplements??I need help!

The key is $40 a visit. How long will someone stay and work at your house for $40 per day? Maybe all day in rural MO. It's more like 3 hours where I live. I don't see this as a huge benefit that you get with D... as opposed to the shortcomings of the plan... the stuff it does not cover.


Great point...al3. In Michigan, and I am certain East Cost and West Coast state rates are higher, a home health aide through a Medicare certified agency bills for about $22 an hour give or take a buck. I don't talk up the home care benefit much because it's barely worth mentioning for $40.


Oh, and thanks for the concert. How nostalgic!

 

[fostever]

Would Fleetwood Mac get denied coverage due to cocaine usage? Oh wait, they have Medicare now. (or free your-o-pee'in health care) European on my boot as "Larry the Cable Guy" would say.

 

[csyjnapapa]

Frank, I guess your right. I might just have to work at it. Where would you suggest is the best place to purchase a list of people 67 to 80 and income over $12,000.00? I am new to the business of Medicare and do not have many exsisiting clients.

 

[Frank Stastny]

Frank, I guess your right. I might just have to work at it. Where would you suggest is the best place to purchase a list of people 67 to 80 and income over $12,000.00? I am new to the business of Medicare and do not have many exsisiting clients.

For the last several years I have been getting my lists from Lead Concepts. I have been pleased with the quality of the information and haven't been tempted to try others. If you call them as opposed to try to order from their website you can get a little better break on the price.

I believe I paid around $95 for the last list. There are other companies that charge substantially less but I have not tried them. They may be just as good, or not.

 

[oicu812nbama]

Using that same logic, a plan A would suffice for a senior. The main problem (the 20% coinsurance) is taken care of. Unless they go to the hospital every year.

 

[billyg]

Using that same logic, a plan A would suffice for a senior. The main problem (the 20% coinsurance) is taken care of. Unless they go to the hospital every year.

There are 3 potential large liabilities that you want to make sure your customers are covered for:

1. Part A Deductible
2. Part B Coinsurance
3. Nursing Home Rehab

With a slip and fall, broken hip, 5-day visit to a hospital, 1 surgery, and a 60-day rehab in a nursing home, each of these 3 items would generate substantial cost for the customer if they aren't covered by their Med Supp. That's why A and B really aren't good options.