Buying Medicare Advantage Leads

[DUBEWIN]

What works for me and is inexpensive?
1 - buy a t65 list
2 - Send my CMS Approved letter explaining who I am and what I do
3 - personally sign every letter with ink
4 - Pay Person with nice handwriting to hand address each envelope -

Why?
After spending too many dollars to have a lead gen company send Reply postcards and receiving an ear full from prospects telling me that it is deceptive, I responded to what I was hearing. Now I get feed back such as - I opened your letter because it was from a local address. I read your letter because it was straight forward and honest. I called you because you took the time to sign it.

This process takes time but I earn clients for life and they are referral promoters like crazy -

T65's get hit hard with marketing mailers - how is yours going to stand out

I really like your strategy of the handwritten letter... reminds me a lot of what real estate investors due with yellow letters (handwritten font on yellow legal pad paper).

I am a FE agent and recently got certified to sell Medicare Advantage. I've added some MAPD clients recently from what was originally FE prospects. Although I currently don't have any additional lead cost, which is nice, the process is very slow.

I want to ramp up my marketing efforts on the Medicare side. Do you have an example of a CMS approved handwritten letter that you use that you would be willing to share? And do you have to get it approved from CMS first, or is it possible to just used approved verbiage from another source, i.e. carrier BRC and add in a personal touch?

 

[InfinityLeads]

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?

Digital Advertising with Adwords/BingAds/FacebookAds/LinkedinAds:
-calls
-web traffic/quote forms
-foot traffic

Advantages:
Pay for relevant engagement with your agency only
Free Impressions

Disadvantages:
Costly
Requires technical expertise 9/10

 

[jdlash]

You will definitely get a better rate of return with a generic mailer piece. The main DM piece I use for Medicare Adv averages about 2% return. Sometimes it is around 3%. It just depends. The key is not getting too specific on the mailer but at the same time you have to make sure that the mailer includes/excludes all of the information required to make it compliant with CMS and the carrier you are going to write business for. For example, UHC requirements go above and beyond what CMS requires to make a compliant generic mailer.

Do you mail this out yourself? Does it have a return postcard, or do they just have to call you?

 

[policywunk]

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.

True that .I have found that the SNP clientele to be a very loyal especially if you service them properly - they are not the ones out shopping for lower copay plans in AEP. Also can be a good source of referrals.

 

[wallstwizard]

Have a great source for dual eligibles leads, message me if you want details

 

[MrSockMonkey]

how did you get a CMS approved letter?

This is my question, also, please, to anyone kind enough to answer.

I tried to message PeninsulaHL, but says conversations not allowed for this member. Thank you.

 

[timeflies]

I've never heard of anyone specific individual get CMS approval for a marketing piece. The Plans/Carriers can submit and get approved for marketing pieces and larger FMO's as well may be able to get approval, but not an individual agent. Someone else can correct me if I am mistaken. I you have an upline, see what pieces they can offer, or there are tons of direct mail houses that may have something worth while. CMS only approves of pieces that mention specific plans or plan benefits, co pays etc. A generic piece would not need approval.

 

[Todd King]

This is my question, also, please, to anyone kind enough to answer.

I tried to message PeninsulaHL, but says conversations not allowed for this member. Thank you.

You can always send it through the carrier and they can get it approved for you.

 

[GreenSky]

This is my question, also, please, to anyone kind enough to answer.

I tried to message PeninsulaHL, but says conversations not allowed for this member. Thank you.

YOU won't get a letter even looked at by CMS. If you ask your carrier for approval they will immediately tell you it's non-compliant. When a carrier sends a letter there are about 3 pages of disclaimers.

Better to keep it generic and not worry about CMS and/or carriers. It's really not rocket surgery.

Rick

 

[MrSockMonkey]

Thanks timeflies and Todd. And now GreenSky.

I have a copy of a letter that an agent sent recently to someone I know, T65.

Just a simple typewritten letter, hand addressed envelope and signature. Talking about turning 65 and looking for information.

Had a small graph kind of box with examples of three plan names and three different carriers, by name, with premium amounts.

Included local phone number to call or text, and email address.

They called him and he wrote a Plan F and D. He visited their home. I don't know whether this would have been effective if he tried to sell it over the phone only. I'll ask. All I know is, his letter worked.

I know a little about this agent, and I have my doubts as to whether this would be an officially approved letter. Please do not ask me the agent's name or for a copy of this letter.

I was wondering if you are able to send a letter like this for supplements? Thank you.