Medicare Cold Call Scenarios

[Russ]

Its all insane. I cold call as my main source of marketing (on the phone not at the door) I sell 95% Med-supps. but even on the med-supp appointment they ask me about Part D and Part C. I have them sign the SOA and continue. Im not looking to sell the MA, Far from it just trying to answer the questions that are asked and give them the best advice for there situation. Am I in violation of the MA rules? I look at it that if im ALWAYS doing the right thing for the client I should be fine. but I dont want CMS breathing down my neck ready to fine me for trying to due the right thing and help a T65 understand their options..

From what I've read, it's okay to hammer them to death with med-supps, but you can't breath a word to them about PDP's and MA's unless they bring it up. Stupid isn't it?

We're to use our vehicles, pay for the gasoline to put in it, pay both halves of the social security tax, deal with these people(who are mostly good folks), but we are not allowed to even mention PDP's and MA's to them. They have to initiate the interest in those products.

The Government is telling us what we are allowed to talk about to people unless they start talking about it. And no these new rules were not signed into law under the Obama administration. You can blame the previous administration for these insane new rules.

And no, I'm not recording any conversation I have with anyone and keeping it for 10 years. Nope...not doing it.

And I didn't even mention the idiotic SOA form and the 48 hour cooling off period. Like I'm going to drive back home...turn around 48 hours later and drive back to the prospects home to write a PDP plan, even if they live 30 miles from my office. LOL...you would spend more in gasoline then you would make on the sale! Ah...just mail them the app! Is there a rule against that?

In my defense, I don't cold-door knock. I work off of T65 leads and referrals and that's it. No advertising...no website. Not yet anyway.
- - - - - - - - - - - - - - - - - -

"turning 65s" will always know more about medicare supplements and medicare advantage than even the most seasoned agent. I suggest that instead of pitching these people you go in looking for their advice. Kindly thank them for sharing their opinions and expertise then move onto the 67+ market to share what you've learned from these folks.

In my years of experience, 99% of 67 year-olds already have coverage and even if you can save them $20 a month or $50 a month on a med-supp, they'll hang on to what they've got. Or maybe I'm just a lousy 25 year salesman.

And not all T65's know more. Some are waiting for an agent to call that they trust. I can definitely vouch for that.

 

[bourbonlegend]

Russ, I guess my sarcasm didn't translate in my post. The turning 65 market is fine.

 

[Bob_The_Insurance_Guy]

Here's the bottom line:

CMS is responding to many different types of contact that have worked in the insurance agent's benefit, and not the Medicare Beneficiary. No matter how "ethical" and "honest" it may appear to you and me, it has been done before, to the Medicare Beneficiary, and been twisted around to put them in a worse situation than they were in before.

By unethical, sometimes non-licensed, agents. As recently as 2007.

Remember when Camel cigarettes had all those advertisements - in print and billboard - with their mascot, a Camel (the actual animal). I believe it was the FDA who made them cease and desist, because, it was, in the FDA's eyes, promoting cigarettes to children.

Remember, and keep this in mind at all times: On our DUMBEST day, we are smarter than CMS on their SMARTEST day.

It is my belief that, if we go through a period of time when Medicare Beneficiaries are NOT abused by agents, en masse, then the regulations will loosen. Camel cigarettes is using the Camel again.

Ours is not the only industry over regulated. My brother in law is in the Consumer Packaged Goods industry, and you should see what they have to go through just to change a candy wrapper on a Baby Ruth bar, or a cereal box.

Perhaps if we had tougher regulations and requirements to get into this profession (and what I consider an honorable one), just as is done with the Medical professions, Accounting Professions, and others, maybe we will see a change.

All you need now is the ability to take the Life and A&S test and pass it. THAT'S IT.

I am one of the few that are disgusted when I hear that someone came from the Mortgage, Banking, Retail industry, and thought the would "try" insurance sales, because they heard it was a quick way to make a buck.

That's not why people become doctors, policeman, firefighters, Social Workers (I'm married to one), or Engineers. And it shouldn't be why they want to become Insurance Representatives!

I don't see any of the above mentioned industries, except ours, making door to door cold calls.

"Hi, my name is Dr. Whitaker. Anyone here need a boob job, tummy tuck, or crows feet eliminated?"

 

[captain94]

I also find alot of T65 ready for me to come talk to them because they are confused about what to do. I also find a lot that think they know more than me. Its a mix, if they dont want my service I simply thank them for there time on the phone and move on most are very respectful some are not, (like anything else) I follow the rules as best I can but, If they ask about part C I dont want to dodge there questions I want them to know all there options. If CMS feels thats dishonest maybe they should walk a day in our shoes instead of sitting behind a desk and deciding what is right and wrong for a senior to hear. I also will not record my phone calls and keep them for 10 years, I do keep the SOA, any notes and a copy of all applications on file.

 

[Russ]

Russ, I guess my sarcasm didn't translate in my post. The turning 65 market is fine.

I couldn't really read the sarcasm. Sorry...maybe it's just me...lol.
- - - - - - - - - - - - - - - - - -

I also find alot of T65 ready for me to come talk to them because they are confused about what to do. I also find a lot that think they know more than me. Its a mix, if they dont want my service I simply thank them for there time on the phone and move on most are very respectful some are not, (like anything else) I follow the rules as best I can but, If they ask about part C I dont want to dodge there questions I want them to know all there options. If CMS feels thats dishonest maybe they should walk a day in our shoes instead of sitting behind a desk and deciding what is right and wrong for a senior to hear. I also will not record my phone calls and keep them for 10 years, I do keep the SOA, any notes and a copy of all applications on file.

Most are respectful and I'm surprised too at how many are waiting for an honest agent to come by and explain things to them.

 

[FinalExpenseRookie]

Hello, I have a question about selling med supps. I saw today on the news, that only 24% of the total people on Medicare have a Medicare Advantage plan in the United States. That means that the other 76% have a med supp or nothing at all.

I assume that most of the folks that are on a MA plan are low income. Does this mean that most of the folks that get a med supp are middle or upper income? If you wanted to sell just med supps, would it not be better to target folks that are middle income and above? Say $45,000? Med supps in my neck of the woods cost $170+. I dont see many low income folks affording that. I don't want to sell MA plans, I would like to sell medd supps, but I need to figure out the right demographic to go after in my state. Does anybody know if Florida is a good state to sell med supps?

Russ, you sell medicare supps in Florida. I was wondering if I could speak to you. I can't send you a pm. Could you please contact me at [email protected].

 

[Josh]

MedicarePlanSolutions, I apologize in advance if I have misinterpreted what you said. I hope you didn't assume that I was having a long drawn out discussion about Medicare at their door. The scenario that I referred to occurred at the end of a future appointment. I simply set the appointment at the door.

My intention is to sell Medigaps, but the list that I obtained from several carriers did not contain telephone numbers, nor was it qualified by income. This is Southern California. The majority of the seniors here are enrolled in MAPD plans. They are sensitized to price. It's also likely that my list doesen't contain the right demographics for potential MedSupp clients.

Assuming that I've done everything in my power to sell a MedSupp and price becomes the ultimate sticking point, would you recommend anything beyond simply walking out the door?

A gentleman earlier pointed out that 95% of his business is Med supp and the rest is MA. In that case, he's totally fine. If you're knocking the door on Med supp and writing MA even more than a third of the time you're putting yourself in a bad situation. Whether that's an effective marketing method or not, what your suggesting to do is going to get you in a pile of trouble you wont be prepared to deal with. Walking out the door would be the safest route at that point, but you're really better off finding another way in the door. Again, if you go in on Med supp and sell MA more than a third of the time it'll be easy for them to give you a fine or revoke your license.

Frankly I'd suggest you find another line of business. I've converted most of my agency to final expense and we're only writing MA on referrals or when people ask about it. If you're going into a house talking about final expense and then they ask about MA or Med supp, you're going to be fine, but trying to market Med supps knowing you're going to sell MA is exactly what CMS has a problem with.

Odds are you're better off getting on a dialer and cold calling anyway. Data is cheap, if you call Rob at 714-843-5430, you can get names and numbers already scrubbed against the DNC list. You can take that and stick in the mojo dialer and you'll be able to make a lot of targeted calls without leaving your house. That's just one idea, if you want a little more help getting pointed in the right direction go to my website and fill out an info request and I can try to call you sometime this week. There is also a lot of information on this forum about other marketing ideas, some good and some not so good.

 

[Frank Stastny]

Hello, I have a question about selling med supps. I saw today on the news, that only 24% of the total people on Medicare have a Medicare Advantage plan in the United States. That means that the other 76% have a med supp or nothing at all.

I assume that most of the folks that are on a MA plan are low income. Does this mean that most of the folks that get a med supp are middle or upper income? If you wanted to sell just med supps, would it not be better to target folks that are middle income and above? Say $45,000? Med supps in my neck of the woods cost $170+. I dont see many low income folks affording that. I don't want to sell MA plans, I would like to sell medd supps, but I need to figure out the right demographic to go after in my state. Does anybody know if Florida is a good state to sell med supps?

Russ, you sell medicare supps in Florida. I was wondering if I could speak to you. I can't send you a pm. Could you please contact me at [email protected].

I have been selling Med Supps for sixteen years. It is the perfect product to "get you in the door" and after you make the Med Supp sale it is much easier to talk to them about FE. I don't sell any of the MA plans either.

When I purchase a list it is for incomes starting at $15,000 per year. My only interest is staying above Medicaid. Just because their income is reported at $15,000 for the purpose of the list does not necessarily mean that is their total income.

As an example, I sold a Med Supp to a husband and wife last winter. Her SS was under $400 per month and his was just under $900 per month. They asked me to write the check for them. When I opened their check register they had over $75,000 just in their checking account. (I almost fell out of the chair.) They could easily afford anything they wanted.

The area you target is more important than the income level.. Right now the best area to target is rural, however, I believe that is going to change dramatically once the New Standard Plans are available. When that happens I am planning on marketing Med Supps in the St. Louis and KC areas again.

Give me a call if you would like to discuss it further.

 

[captain94]

I cant see anyware where they will take your license. Teminate your contract, hold your commissions but not take your license. and someone said they will put you in jail? Is anyone clear on any penelties CMS can do?

 

[MrMack]

I cant see anyware where they will take your license. Teminate your contract, hold your commissions but not take your license. and someone said they will put you in jail? Is anyone clear on any penelties CMS can do?

They can fine the company you work and suspend you from selling Medicare Advantage and refer this information to the State Insurance Dept. They can take your license if they want to.