Can I Specialize In Senior Market Year Round?

[Zoaty]

Hello,

For some reason I can't seem to shake my interest in medicare advantage and sup plans for seniors.

Beyond the aep, is there still enough work in the senior market to be a full time specialized niche?

If so, what types of products are typically focused on through out the non aep portion of the year? Are there enough new enrollments reaching 65 to do MA & or sup full time?

Thanks!

 

[thomasm]

This is all I do! Over 3000 people are turning 65 within the next 6 months just in the county I live in. Of course there are probably just as many agents out there chasing them! The key is to approach them farther out from their birthday and build a relationship/pipeline. The fly by nighters out there don't have the patience for that so you can still win in a crowded marketplace!

As for the 65+ demographic you do know you can sell med supps year round, don't you? No AEP needed. Just get a list and go see the people.

 

[axeman462]

Hello,

For some reason I can't seem to shake my interest in medicare advantage and sup plans for seniors.

Beyond the aep, is there still enough work in the senior market to be a full time specialized niche?

If so, what types of products are typically focused on through out the non aep portion of the year? Are there enough new enrollments reaching 65 to do MA & or sup full time?

Thanks!

It depends on the area you live in.
When you go out to eat, do you see more old people or young people out? Your answer will tell you whether or not the market is good in your county

 

[Zoaty]

This is all I do! Over 3000 people are turning 65 within the next 6 months just in the county I live in. Of course there are probably just as many agents out there chasing them! The key is to approach them farther out from their birthday and build a relationship/pipeline. The fly by nighters out there don't have the patience for that so you can still win in a crowded marketplace!

As for the 65+ demographic you do know you can sell med supps year round, don't you? No AEP needed. Just get a list and go see the people.

Thanks so much for the info - when you say farther out from their birthday, do you mean after they turn 65 near the end of the 7 month period, or do you mean for the following year?

That's very encouraging news to hear you can work with this crowd year round. Yes - I'm pretty sure the 300,000 city should have more than enough folks in this age demograpic, and it seems the whole population is getting older here.

Thanks!

 

[thomasm]

It depends on the area you live in.
When you go out to eat, do you see more old people or young people out? Your answer will tell you whether or not the market is good in your county

Another way to get a feel for your local market is to study the county MA penetration rates in your state. Look for the number of eligibles in each county. Counties with low MA penetrations rates are good places to prospect for Med Supp.

MA State/County Penetration - Centers for Medicare & Medicaid Services

 

[Zoaty]

Awesome! Thanks - I will take a look at it right now!

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That report ROCKS!

Thanks Thomasm!

Looks like 40%+ penetration, but over 50k Eligible.

It would be awesome to become a MA / Sup Rockstar for my area!

 

[thomasm]

Thanks so much for the info - when you say farther out from their birthday, do you mean after they turn 65 near the end of the 7 month period, or do you mean for the following year?
!

The farther out from the month they turn 65 the better. Most people work the 90 day window to their 65th birth month. I start about 7-12 months out and then follow up, follow up, follow up...

 

[Zoaty]

Excellent strategy! Thanks for sharing - I am excited to hear it is a year round option. I'm excited to master this niche :-)

 

[thomasm]

Love the enthusiasm! That's fades pretty quickly once you get to the part in the MA certification process about "unsolicited contacts." I remember thinking, "Great, my career is over before it's even started!"

Keep in mind though, even with a 40% MA penetration rate, that means the majority still have Med Supps! And if you go get top contracts with the most competitive plan F, G, & N's in your area, you can still clean up! Just don't pick up United Healthcare. They are the only one I know that makes you sign off that you won't solicit medicare beneficiaries.

 

[senior-advisor-indiana]

Love the enthusiasm! That's fades pretty quickly once you get to the part in the MA certification process about "unsolicited contacts." I remember thinking, "Great, my career is over before it's even started!"

Keep in mind though, even with a 40% MA penetration rate, that means the majority still have Med Supps! And if you go get top contracts with the most competitive plan F, G, & N's in your area, you can still clean up! Just don't pick up United Healthcare. They are the only one I know that makes you sign off that you won't solicit medicare beneficiaries.

From what I understand those numbers also include people that have retirement benefits so it could be possible that the majority won't have med supps.