Is trying to sell mainly Med. Supp. & a few regional MA carriers a good/bad/neutral idea?

[multipledigits]

I'm definitely going to be leaving Assurance, but I have to wait a few months to be released from them so I can reappoint w/ Humana/UHC/Wellcare, etc. So in the meantime, my plan was to make some sales with Assurance while I can still get the daily pay and then use that money for buying leads. I already have the CRM, phone recording setup, quote/enroll platforms, etc.

Right now I am working w/ Ritter and I'm contracted w/ Care Source, Devoted, Medical Mutual of Ohio, MediGold, SummaCare, and Zing Health. (I know, probably not a lot of people selling these MA plans but it's what I have to work with). And then for Med. Supp. I have Aflac, Allstate, American Benefit Life, Bankers Fidelity, GTL, Manhattan Life, Mutual of Omaha, Heartland, and Medico.

I'm licensed in IL (resident state), IA, WI, MI, OH, VA, SC, TX, NM, WA, MN. I am only licensed in those states because I didn't know what I was doing at the time I got them and they were cheap. When I'm working with Assurance, I make nearly all of my sales in OH, TX, SC.

I have never sold Medicare Supplement policies since Assurance always discouraged it. But from what I've seen and heard from other coworkers it sounds like something I'm really interested in. It also sounds like what I would personally want to have when I'm at that age (if medicare still exists by then, who knows) rather than a Medicare Advantage plan which I know may work for a lot of people but to me it just seems like a bad deal.

I'm going to start reaching out to some more experienced agents to get some mentoring/training for selling Medicare Supplement since this is obviously all new to me. I just wanted some opinions on this so I have some kind of idea of what actual medicare insurance agents think/do, etc. since I'm basically coming from a call center. And I also want to manage my expectations. I have *some* experience, but I know not nearly as much as the rest of you.

 

[Newby]

People with more money want original Medicare and supplements. Nothing new there. Uplines that discourage supplement sales either don’t know what they’re doing or they just are going after the easiest product to sell.

 

[rmhaire]

People with more money want original Medicare and supplements. Nothing new there. Uplines that discourage supplement sales either don’t know what they’re doing or they just are going after the easiest product to sell.

Ditto

 

[Todd King]

People with more money want original Medicare and supplements. Nothing new there. Uplines that discourage supplement sales either don’t know what they’re doing or they just are going after the easiest product to sell.

To go further, MA plans usually pay more to the upline...so that's one of the main reasons you'll find them pushing MA plans or not dealing with Med Supps as well. Of course, many wouldn't admit it...but it's true.

 

[somarco]

There are two ways to sell Medigap coverage.

Contract with carriers that have the lowest premium and only sell those plans. Shop every year and move them to the new lower premium plan. Eventually that game plan fails.

Understand how Medicare works, and help folks find the best VALUE which may not be the plan with the lowest initial premium.

 

[DonP]

To go further, MA plans usually pay more to the upline...so that's one of the main reasons you'll find them pushing MA plans or not dealing with Med Supps as well. Of course, many wouldn't admit it...but it's true.

This is correct . The overide for a fmo sup sold is 5-7% . So a fmo can avg about $120 or so a plan . Mapd in the $250-$275 area . But renewals similar in the $150 area for mapd . But the fmo gets big marketing $’s to generate many more sales in mapd .

 

[Patty Cake]

I don't want to leave business on the table and I want to be their agent. I am contracted with all MAPD and major Medicare Supplements in my state. I educate my clients on the two ways to go. I let them make the decision even though I make more on the MAPD's.

 

[somarco]

I am contracted with all MAPD and major Medicare Supplements in my state. I educate my clients on the two ways to go. I let them make the decision even though I make more on the MAPD's.

That is the way I do it . . . with a few exceptions.

I don't write MAPD. If that is what they want I refer them to another agent and I let them know up front that is what I will do so there are no surprises.

Many times no one has explained how each one works, so I lay it out for them in easy to understand terms.

There are around 40 Medigap carriers in my state. I don't need all of them so I pick half a dozen for contracting. I refuse to contract with a carrier that has been here less than 3 years, preferably 5+. If someone wants the cheap rates from the NKOB I suggest they go direct or look for another broker.

I tell them I don't get paid until they decide they want me to be their agent. We move forward at their pace, not mine. I never "close" but I allow them to buy when they are ready.

Almost every time they allow me to be their agent . . . for life

 

[Midlevel]

That is the way I do it . . . with a few exceptions.

I don't write MAPD. If that is what they want I refer them to another agent and I let them know up front that is what I will do so there are no surprises.

Many times no one has explained how each one works, so I lay it out for them in easy to understand terms.

There are around 40 Medigap carriers in my state. I don't need all of them so I pick half a dozen for contracting. I refuse to contract with a carrier that has been here less than 3 years, preferably 5+. If someone wants the cheap rates from the NKOB I suggest they go direct or look for another broker.

I tell them I don't get paid until they decide they want me to be their agent. We move forward at their pace, not mine. I never "close" but I allow them to buy when they are ready.

Almost every time they allow me to be their agent . . . for life

Would love to hear your “education” on MA plans. Just giving you a hard time.

 

[rmhaire]

Would love to hear your “education” on MA plans. Just giving you a hard time.

I'll take him over all the MAO's I know and he doesn't even sell the stuff.