Medicare Supplement Leads

[pcbinsurance]

Going about it like you did was professional and since you've been around for years, I doubt anyone has any qualms with your posts.

Good luck on your BETA program and future business.

 

[Glen Shelton]

These are folks actively expressing interest (by completing a form) in getting information about Medicare supplement plans and rates.

They are not qualified by income

I know Internet leads work a little differently than TM leads but I thought I would contribute to this thread anyways since I spend a lot of time strategizing on marketing for Medicare Supplements.

I have found that the low income prospects even in low MA% saturated areas to still be bad prospects for Med Supp sales.

Income filters aren't terribly accurate however it is a noticeable difference when I filter out the bottom income levels (0 - 20K).

Yes, these prospects who have Internet access to complete the lead form will probably trend higher income anyways, but I have read here with other internet lead companies that "Obama Phones" are starting to change the landscape for low income Internet usage.

Overall, it sounds like an interesting program!

 

[Professor Leads]

I have found that the low income prospects even in low MA% saturated areas to still be bad prospects for Med Supp sales.

Income filters aren't terribly accurate however it is a noticeable difference when I filter out the bottom income levels (0 - 20K).

Yes, these prospects who have Internet access to complete the lead form will probably trend higher income anyways, but I have read here with other internet lead companies that "Obama Phones" are starting to change the landscape for low income Internet usage.

Overall, it sounds like an interesting program!

When I sold Med Supps I generally did well with all income levels unless they were on Medicaid (Which I CAN filter out).

Frankly I found the higher income folks more difficult to convert.

By the way the ObamaPhones don't have internet access on them...calling and texting only. So if they are responding online it's either via computer or smartphone...usually the latter.

 

[Glen Shelton]

When I sold Med Supps I generally did well with all income levels unless they were on Medicaid (Which I CAN filter out). Frankly I found the higher income folks more difficult to convert. By the way the ObamaPhones don't have internet access on them...calling and texting only. So if they are responding online it's either via computer or smartphone...usually the latter.

There must be other "discounted" or free internet options for lower income folks that I have seen referenced.

Everyone loves to just stick 'Obama' in front of everything for lower income or welfare recipients.

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There must be other "discounted" or free internet options for lower income folks that I have seen referenced. Everyone loves to just stick 'Obama' in front of everything for lower income or welfare recipients.

http://money.cnn.com/2016/04/22/technology/access-from-att-digital-divide/

 

[kgmom219]

OK, I'm lead naive. (Or stupid. Whichever you prefer)

Are the leads going to be people currently on Part B and Supp and who want to be contacted? Or Part B Virgins? Or a combo?

And how the heck is a $20K MAGI the number? I would assume $50K. Where does the number come from? The form they complete? The IRS?

Thanks...I get that these are basic questions for you, but the last time I bought leads was in 2002...and they were mortgage leads for term life.

 

[Professor Leads]

kgmom, the leads I am generating are a combo of people turning 65 and those 65+ already on Medicare.

Traditionally, Med Supp campaigns (DM and Telemarketers) have targeted the $20k+ income households to avoid the Medicaid folks. How do know for certain that the income filters are accurate? We don't. I don't know how the list sellers (which is what DM and Telemarketers use) get their income info, really.

With online marketing I can target behaviors and interests which can be an indicator of income.

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I have some leads from my Beta test in Delaware...who wants 'em? PM me ASAP.

 

[kgmom219]

kgmom, the leads I am generating are a combo of people turning 65 and those 65+ already on Medicare.

Traditionally, Med Supp campaigns (DM and Telemarketers) have targeted the $20k+ income households to avoid the Medicaid folks. How do know for certain that the income filters are accurate? We don't. I don't know how the list sellers (which is what DM and Telemarketers use) get their income info, really.

With online marketing I can target behaviors and interests which can be an indicator of income.

I get the Medicaid avoidance, but the $20K number always seems to be discussed, so I wondered why that was the target. Thanks!

 

[John Galt]

kgmom, the leads I am generating are a combo of people turning 65 and those 65+ already on Medicare.

Traditionally, Med Supp campaigns (DM and Telemarketers) have targeted the $20k+ income households to avoid the Medicaid folks. How do know for certain that the income filters are accurate? We don't. I don't know how the list sellers (which is what DM and Telemarketers use) get their income info, really.

With online marketing I can target behaviors and interests which can be an indicator of income.

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I have some leads from my Beta test in Delaware...who wants 'em? PM me ASAP.

For a lead vendor you are A-OK in my book. Best of luck, you seem to know your stuff with internet leads, I hope its super successful.

 

[Glen Shelton]

I get the Medicaid avoidance, but the $20K number always seems to be discussed, so I wondered why that was the target. Thanks!

Estimated Income associated with cold data is a "Best Guess".

I don't know exactly how it's "estimated".

The biggest difference I noticed when I was in the field was unreported income.

I would ask something along the lines of:

"I see here that it says your approx. annual income is between 20K - 30K?"

I would get answers like

"Yeah that sounds about right. I have another house that's paid off that I collect rent in cash on"

For the country folk that house was usually located on their current property

 

[jbage007]

Can't really disagree with anything already posted in this thread but just wanted to reiterate my concerns re: lower income folks buying Med Supps.

In reality, if a single person actually makes $20k (and most on fixed SS-only incomes will make less), they are going to need to spend at least 10% of their income just on premium dollars - minimum. That includes a basic Med Supp plus Part D plan. And that's at age 65. As they age, their income will be rather stagnant but their premiums will get higher and higher becoming an ever larger share of their total available income.

It's just a matter of economics. Folks at $20k or less simply are not the best prospects for Med Supps. Not in 2016 and beyond.

Realistically, I'd suggest something closer to $30k minimum for one person, or $45k for a 2-person family, while noting that geographical diversity may warrant modification somewhat of that formula.