Had my meeting - think I'm gonna have to pass

[senior-advisor-indiana]

I have already stated that I didn't want to work with dual eligibles because I do not like the fact that you have very little chance to cross sell. But I am going to get a contract or Elder Care for the medicaid members that I bump into. If it is good for them, good for me, and good for the docs, then why not?

I am not used to making $2,000 per sale on major med so I do not mind spending an hour to make $250-$500. Hell who knows, maybe the whole family is on meidcaid.
I also looked into TAG a couple years ago. They told me the commiss up front and said I would have to pay for leads....... SCREW THEM!

 

[Crabcake Johnny]

I'm always leery when I hear things touted that are "80% closing" and it all seems to be a slam dunk - then they want to charge what I consider to be a high amount for leads - in this case $25. They are absolutely stroking off the leads.

They simply have telemarketers and there's no way they're paying 'em more than $10/hr. I can guaranteed you they can set 2 to 3 appointments per hour which is around $3 to $4 a lead their cost. You can double and triple it and it's still not $25. 4 appointments a day is $100 a day which is hefty.

I don't like when agencies put themselves in "no lose" positions. Everyone has to take some risk. Even if a lead costs them $15 they're stroking $10 per lead and that ain't chump change:

10 agents getting 3 leads a day is 30 leads or $300 a day/$1,500 a week just by stroking off the leads - and they make overrides. Give me the leads at cost or figure in the lead cost to the commission structure. Don't make agents whip out their credit card and charge it for $500 up front when they haven't run a single appointment yet.

I tried to discuss chargebacks and they couldn't get off that topic fast enough. Wonder why. I talked with one of the managers and wanted to get some names of agents who have been writing for at least six months to get their opinion. He told me they just started marketing and don't have any agents who have been around for six months yet.

One word:

 

[policy doctor]

and that is why this forum is so helpful in warning us and educating each other on what is out there.

Since so many of us are picking up contracts from FMO's strewn across the country and know nothing about them, the posts here are in a sense, guideposts. I already heard negative things about TAG and the Assurant group, also Kingdom, Parker, Gentry Group, and there are many others.

Most of them because they overcharge the agent on leads, and still chop off their full commission.

yes, I have noticed these marketers hate to talk about chargebacks, and paying claims if client is out of network, area, non-cooperative provider, etc. After all, it's your headache.

 

[senior-advisor-indiana]

TAG= The Assurant Group

 

[policy doctor]

Thanks....I didn't connect the acronym with the name....lol

 

[senior-advisor-indiana]

Your Welcome

 

[Frank Stastny]

The senior market is so full of "here today, gone tomorrow" agents that the "good guys" hardly stand a chance. The damage has been done and I'm not sure it can be un-done.

I still think med sup's can be offered/sold with integrity and allow you to remain independent. Seems like a great addition to the portfolio.

The most difficult part of working the senior market is that I have to follow the agent who preceded me.

Selling Medicare Supplement policies is a neat, clean, uncomplicated business that requires very little service work. Most often sold on the first appointment. Commissions aren't high but renewals are good.

However, the agent must stay in contact with the senior or they will switch to the next agent who knocks on their door. Well, almost. If you stay in contact with them they will be your clients until they need to use their final expense insurance.

It seems natural progression for any agent selling major medical to also have Medicare Supplement policies available for their clients when they turn 65. The MM agent already has the client's trust, why wouldn't the client want to keep their insurance with the same agent they know and trust?

With Medicare Supplement policies there is no certification or special times of the year that they can be sold. The benefits are very clear and easy for the senior and agent to understand. The list of doctors and hospitals for them to choose from is the Yellow Pages in any city or town in the US.

 

[Frank Stastny]

John,

I think you made a good choice. That is not a part of the Senior Market that I would have any interest in getting into for the same reasons you stated.

I know a few agents who do that and they all carry pistols.

From what I have been told and personally experienced, health care insurance is not high on their list of priorities. There also doesn't appear to be any stigma associated to being on Medicaid, again in my very limited experience.

Final expense insurance appears to be a much higher priority for them.

Add Medicare Supplement policies, not Medicare Advantage Plans at least not at this time, to your portfolio and continue to take care of your clients when they turn 65. Believe me when I say they will need a professional agent who they can trust when they go on Medicare.

You can tell your clients that they will never need to look for another insurance agent. From what I have seen very few agents in the MM market also have Medicare Supplement policies available. That would have to be a selling point in your favor, especially for your clients in their late 50's and early 60's.

 

[midwestbroker]

If a person was looking to get into the senior market, here is what I would rec they have in their bag:

Supplements
MA plans - for people who cannot afford or qualify for supps
Final Expense - lots of seniors are under insured - simplified underwriting - good cross sell
Dental - I get a lot of requests for dental - does not pay well at all, but creates retention

I would also carry a Medicaid plan since you will run across them from time to time

All of the above are simple plans that can be explained in a matter of minutes.

 

[Crabcake Johnny]

The Bravo MA plan that would replace Medicaid in Balt. city and certain counties in MD is far richer in benefits then Medicaid and I think Medicaid patients should switch. It's a huge network in this area so the HMO isn't an issue.

The issue is honesty during the presentation and complete honesty would result in 90% of your clients saying "we need to think about it."

It's not about getting more for these people on Medicaid. It's the fear of losing what they already have.