Anyone sell Medicare Supplements or MA plans in Minnesota? I write 5 to 10 policies a year with current clients. I was thinking of devoting more time to this area? Anything I should be aware of due to 3 carriers dominating the market? Sales better for T65 or replacement sales? Any advise would be appreciated.
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I write about the same number as you, so I won't be much help. Mostly people coming off group plans I handle. Usually stick the business with either Medica or BC/BS of MN (a few with Health Partners). The pay is so low here, you really have to be doing volume to make it worth the time in my opinion.
Woody, I write a few med supps in Minnesota, but don't spend a lot of time doing it. I generally just work with BCBS and Medica and they are fairly competitive. I generally find sales are better with replacement versus T65. I agree with Full Throttle that the pay is pretty low so I also don't devote a lot of time to it...
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You might have seen this, but the Minnesota DOI updated their Med Supp plan rate data.
I have an agent who works with me who sold about $125,000 in Med Supp in Minnesota YTD (personal production). You might want to consider working through him to get an idea on how he does it.
If interested, PM me with your name and number and I'll call him. He's working above street, so he has room to give you a street contract. Having him as a "coach", plus street would be a good deal IMO!
Med Supp is a good value relative to Cost plans in MN, plus the commission is WAY better, plus you don't have CMS marketing guidelines and future MA reimbursement cuts to worry about.
Craig
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