Entering Med Supps

[arnguy]

I meant me, I'm an MGA, was that really tough to figure out? Frank got it, obviously, LOL

Conceited!

 

[Guest]

There is a difference between conceited and confident sir, LOL

Conceited!

 

[captain94]

I would say 80-90% of the time they want to wait.

I tell them that all they have to do is pay one month and with MoO they don't have to pay it until it's issued. That usually takes care of about one month(by the time you mail them the application and get it back and forward it to the company and get it issued).

Most of the time if you're the first person to call them, they'll go with you first(either now or later...before Medicare part B effective date), if you're presentation is good over the phone.

And I agree with Frank...if you can get into a conversation with them, it helps, tremendously.

It also helps that MoO is unbeatable for med-supp rates for a 65 year-old female in this area.

I wish they had the same rates for male and female in Florida.

One more thing...if they live within 60 minutes....maybe even 90, from me....I'll jump in my car and go write them.

Russ,
I also do alot of T-65. I work in a 4 county area around my house just setting the appt then go write the medsupp. How difficult is it for you to get a Prospect to start giving you info like there S.S. Number over the phone?
Or do you mail out a blank app and let them fill it out?
Thanks in advance for the info.

 

[Frank Stastny]

Russ,
I also do alot of T-65. I work in a 4 county area around my house just setting the appt then go write the medsupp. How difficult is it for you to get a Prospect to start giving you info like there S.S. Number over the phone?
Or do you mail out a blank app and let them fill it out?
Thanks in advance for the info.

I never have had any problem getting the SSN or any other info over the phone. I have never and would not mail them a blank app. I can almost guarantee they will not know what to put in each blank. I'm sure most of them would screw it up.

If they want to fill it out themselves I would bet that you will not get most of them back. By me doing it I don't remember the last time was that I didn't get one back almost immediately.

 

[Tom Highway]

When y'all are saying that the best markets for Med Supps are in rural areas, what exactly do you mean? I live in Birmingham, Alabama, which isn't exactly a huge metropolitan city, but it's big enough, and certainly has a good number of MAPD plans.

The issue is that in the central part of Alabama, all the way over through Tuscaloosa, is pretty much covered withe MAPD plans in a good circle around Birmingham.

 

[Frank Stastny]

When y'all are saying that the best markets for Med Supps are in rural areas, what exactly do you mean? I live in Birmingham, Alabama, which isn't exactly a huge metropolitan city, but it's big enough, and certainly has a good number of MAPD plans.

The issue is that in the central part of Alabama, all the way over through Tuscaloosa, is pretty much covered withe MAPD plans in a good circle around Birmingham.

What I mean is that I am not currently marketing Med Supps in areas with a heavy concentration of Part C plans. Out in the "boon docks". However, I expect that to change dramatically in about ten months.

At that time I plan to begin heavily marketing Med Supps in the greater St. Louis and KC metro areas. I believe prospecting in those areas at that time will be very productive. Right now it is kind of hit and miss.

 

[captain94]

Frank,
thanks for the info. So you fill out the app. Mail it to them for signatures and a voided check and have no problems with them mailing it right back? Wow..maybe because i have not tryed it but that surprises me...Im always setting the appt. and going to see them.

 

[DS4]

Frank,
thanks for the info. So you fill out the app. Mail it to them for signatures and a voided check and have no problems with them mailing it right back? Wow..maybe because i have not tryed it but that surprises me...Im always setting the appt. and going to see them.

I have been doing Med supps for many years, I sell (close) them over the telephone. They then either come to my office, or, I mail them them pre completed app with flags where to sign. I can't remember the last home appointment I did. W/ postage pd return envelope of course. I have hundreds of insureds I have never seen.

 

[Frank Stastny]

Frank,
thanks for the info. So you fill out the app. Mail it to them for signatures and a voided check and have no problems with them mailing it right back? Wow..maybe because i have not tryed it but that surprises me...Im always setting the appt. and going to see them.

I still enjoy going to see them and do whenever I have the time, especially if they are close by. However, time has become my enemy lately.

A couple of years ago I started using Priority envelopes to send it in and self-addressed, stamped envelopes for them to return it to me. I always got them back but sometimes not as quickly as I would like.

I include a nice cover letter on stationary summing up all the details and ask them to look it over when they receive it and if possible put it in return mail the same day. Seniors are super about following directions.

I think the Priority envelope adds somewhat of a "personal touch" and conveys a degree of importance and urgency that a plain envelope doesn't. It make me feel like I'm giving more personal service to them. I strive to keep my clients for a very long time.

 

[sman]

Tom,

The Birmingham area has some pretty good MA plans if my memory serves me correctly. Viva comes to mind. I actually had an AARP Med Supp client that lives in Birmingham call me this AEP about the Viva Health plan. All of hers and her husbands doctors were in the plan and so were the hospitals they would use. I looked it over and told her I thought it was a decent plan. Of course, I can't sell that plan to her. After giving it some thought, she decided she wanted to continue with a Med Supp and so I wrote her and the hubby a new Family Life Med Supp since the AARP plan was going up in premium.

I would recommend you get armed with the two or three most competitive Med Supp carriers in the area and also get contracted with many of the MA carriers as well. That way you can offer both and walk away with the sale either way.

When y'all are saying that the best markets for Med Supps are in rural areas, what exactly do you mean? I live in Birmingham, Alabama, which isn't exactly a huge metropolitan city, but it's big enough, and certainly has a good number of MAPD plans.

The issue is that in the central part of Alabama, all the way over through Tuscaloosa, is pretty much covered withe MAPD plans in a good circle around Birmingham.