Marketing Plan to Sell 40 Med Supps a Month?

[Roy2015]

How many MA plans were you able to write this year?

Are you worried you might have to spend too much time servicing them every year?

I haven't sold MA yet but I always hear horror stories...

I was able to write 180 apps this past year. Started in April. When I started I had heard horror stories about the service work also. To be honest it hasn't been too bad although I'm starting to get more calls now that my book is growing some. This is def another reason to move more focus to Med Supps tho. I can see this getting out of hand down the road a bit. But we have a really good $0 prem Med Adv here so getting them to enroll is not to hard.

One thing to note is that with Med Supps you will make more on average up front b/c unless they are new to Medicare you will only get paid the renewal amount x remaining months in the year. Med Supps will pay the entire first year comm on every sale. So if you do market for Med Adv try and hit the t65 crowd some if you can

 

[GreenSky]

I'm finding Las Vegas to be a different world than California. Over 40% are on MA and I'm guessing 90% of them have one of two UHC companies.

Most people I've spoken with are paying a fortune for their supplement. While there are fewer people (as a percentage) on supplements than other areas the potential to move them to a lower priced carrier is there.

The trick of course is to get in front of them. My telemarketer generated leads but since many think their zero premium HMO is actually a supplement most of the leads are not legit. I find it hard to save someone money when they pay zero already.

There are other ways to reach people here and I'm exploring the options.

Rick

 

[Roy2015]

I'm finding Las Vegas to be a different world than California. Over 40% are on MA and I'm guessing 90% of them have one of two UHC companies.

Most people I've spoken with are paying a fortune for their supplement. While there are fewer people (as a percentage) on supplements than other areas the potential to move them to a lower priced carrier is there.

The trick of course is to get in front of them. My telemarketer generated leads but since many think their zero premium HMO is actually a supplement most of the leads are not legit. I find it hard to save someone money when they pay zero already.

There are other ways to reach people here and I'm exploring the options.

Rick

Yea I'm independent but I write 95% of my business with Uhc b/c the plans are so good here in Las Vegas. $0 prem, $0 unlimited hospital, $0 specialist, outpatient surgury, rehab, diabetes monitoring etc. I tried ordering telemarketing leads here also and you are right in that most were no good b/c everyone is already on a $0 prem Med Adv but they don't know the difference.

I'm going to start calling into some southern states with penetration around 15-20% and see how that goes.

 

[Midlevel]

For me the service work on MAPD's is less than people with a Med Sup and PDP because the Medicare Advantage prescription part is built in so they aren't constantly wanting to shop and compare PDP's every AEP. I have around 400 people on MA plans and they tend to just stay put year after year and have lifetime renewals. Not a bad gig.

 

[Todd King]

I'm finding Las Vegas to be a different world than California. Over 40% are on MA and I'm guessing 90% of them have one of two UHC companies.

Most people I've spoken with are paying a fortune for their supplement. While there are fewer people (as a percentage) on supplements than other areas the potential to move them to a lower priced carrier is there.

The trick of course is to get in front of them. My telemarketer generated leads but since many think their zero premium HMO is actually a supplement most of the leads are not legit. I find it hard to save someone money when they pay zero already.

There are other ways to reach people here and I'm exploring the options.

Rick

Do you think it would do any good to raise the income demographic?

 

[somarco]

start calling into some southern states

People in southern states are mostly on Medicaid. No market here. Try Texas. Technically a southern state but a solid market if you are bi-lingual.

 

[NSRH]

Its tough as heck to ONLY market Med supps in the Medicare Market, you gotta have Medicare Advantages in your bag as an option, or it simply wont be worth your time.

Unless, that is, you're cross selling other products like annuities, FE, or LTC.

 

[Glen Shelton]

Its tough as heck to ONLY market Med supps in the Medicare Market, you gotta have Medicare Advantages in your bag as an option, or it simply wont be worth your time.

Unless, that is, you're cross selling other products like annuities, FE, or LTC.

I know quite a few agents who exclusively market Medicare Supplements in the Medicare market and do quite well.

I think it has more to do with the area you are marketing to. If the MA % penetration is above 40% and you are trying to exclusively market Med Supp it will be more challenging than if you stick to areas with a lower MA %.

 

[vic120]

Just don't market in the states I market. its terrible no buis here, don't look at the man behind the Curtin.

All Joking aside I have done well in many states including FL, NY, CA, although my Medsupp to MA is more 80/20 in those states, I no longer work those states because I prefer the 90/10

I get usually 4 or so clients every AEP that gobble up a lot of time going over there plan change and the other options over and over. But apart from AEP the service is not terrible something every here or there, Just spend an hour earlier today on 3 way with client and AARP because she was billed for out of state service because they did not activate her passport program, they fixed and back dated but it took an hour

I don't mind. However most of my buis is med sup, I would not want the service workload if all my buis was MA

I find when outside NY,CA, & fl. I write 90% med sup and 80% of the MA I write is AEP buis, I don't think there are too many states that you can't write buis if you have good leads

 

[goillini52]

Its tough as heck to ONLY market Med supps in the Medicare Market, you gotta have Medicare Advantages in your bag as an option, or it simply wont be worth your time.

Unless, that is, you're cross selling other products like annuities, FE, or LTC.

Damn...now you tell me!