Buying Medicare Advantage Leads

Aug 17, 2017

  1. oceansHealth
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    oceansHealth New Member

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    Hello, I mailed 2000 flyers, with a 0.5% return. I am wondering what I did bad? I sent a SNP flyer from United Healthcare to a low income community, to people 65+. Do anyone have any better idea than sending a flyer from a company?
     
  2. GreenSky
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    GreenSky Guru

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    Congratulations on promoting an insurance company.

    I make up my own generic card/flyer. You'll still get a crappy result but it should be more than 0.5%.

    What are you offering duals that they don't already have?

    Rick
     
    GreenSky, Aug 17, 2017
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  3. oceansHealth
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    oceansHealth New Member

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    Sometime people that are dual the dont have a MAPD plan but a pdp. So As soon as they see the extra benefits with a MAPD they become interested and they leave their pdp. So I though it would be good idea to promote those additional benefits.
     
  4. somarco
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    somarco GA Medicare Expert

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    Do you want to work with low income people?
     
    somarco, Aug 17, 2017
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  5. oceansHealth
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    oceansHealth New Member

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    Yes I do. I work with SNP, MA.
     
  6. Alston
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    Alston Guru

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    Do you have your demographics dialed in?

    The most important thing is the list. Figure out who to mail to first, then what and when.

    Exception: You may want to mail to existing clients who don't fit the demographics or who can't take advantage of a given offer. You should get some referrals this way.
     
    Alston, Aug 17, 2017
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  7. oceansHealth
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    oceansHealth New Member

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    Thanks for the help. I defined my target. Maybe is the Flyer/ Do we have any flyers sample?
     
  8. yankee466
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    yankee466 Guru

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    You do realize there are more low income folk out there than high income? Hence the world of DSNP and FE.

    Thankfully I do neither....but lots of agents getting rich with it if they have the stomach for it.
     
  9. somarco
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    somarco GA Medicare Expert

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    Yes I do realize there are more folks on the low end of the income scale than high end. I also hear agents that complain of writing up the app then it lapses a few months later because of a perceived better value from another agent.

    There are also people making $$$ in the FE market, but that is another niche with traditionally high lapse rates.

    Lapses and chargebacks sometimes kill the spirit of the agent working those markets. The recruiting pitch talked about making piles of money but never mention the downside.
     
    somarco, Aug 18, 2017
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  10. Alston
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    Alston Guru

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    DSNP shouldn't be lumped in with FE.

    So far my dSNP book has as good or better persistency as my other MAPD book.

    Only QMBs qualify for dSNPs in Connecticut. Our dSNPs have $0 monthly premiums with no copays for medical and low copays for Rx.

    The only reason someone would change plans is due to the formulary or the network.

    It is rare for a dSNP policy holder's income to rise enough that they no longer qualify for Medicaid. DSNP policy holders are either under 65 and disabled or over 65 and possibly disabled. Unfortunately, these are not upwardly mobile populations.

    They can't lapse a $0 premium policy for non payment, but some forget to renew their Medicaid coverage. Even that isn't a biggie.

    I fill out the paperwork with my client on the phone (three easy pages). I mail it to them with a stamped pre-addressed envelope addressed to the state. My client calls me when she or he gets it and I tell her where to sign. Easy peasy.

    The policy itself takes six months to lapse after they lose Medicaid. I only have 80 or so dSNPs, but I haven't had to rewrite one yet.

    The business can be written year round and I get a few more referrals per client from this market segment.

    I don't do much FE, but I can't imagine that the persistency could be nearly as good, plus the renewals on dSNP business is much better than on FE business.
     
    Alston, Aug 18, 2017
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