- Thread starter
- #11
Need some help with Medicare coverage
- Thread starter nfl72
- Start date
That's easy enough...
- 7,131
Buried in the backyard in Mason jars is a good option.
Champions Gary
Expert
- 28
It's easy to sell supplements if it fits the clients budget and you show the client how Medicare works. The industry does not encourage the agent to sell the supp unless they think they'll lose the sale. Found out this week at Un. Health in Houston with about 6 sales people that is has no one, even in Texas whose job is to help agents understand or sell Medicare. They have one lady often on the road for the whole Midwest.And that is from the company that has just under 40% of the supp market with AARP added to the product name.
Sell a fair no. of Adv. Plans and you'll probably get free leads. Sell three times as many supplements with the same company and no one will even congratulate you
Like it or not Medicare Advantage works best for healthy clients and clients with no money.
people with money are often mislead to buy Adv. Plans due to being directed that way, lack of knowledge and the belief that they may be short of money later in life.
Explain what happens to them if they need chemo therapy. $3400, $6700 or next year over $11,000 for out of network treatment even if their PPO is accepted. And that may be pay in advance. Tell them what guaranteed issue is and how they will lose it on an Advantage plan.
Then give them three choices: Advantage Plan now, Supplement now and Supplement now with a guaranteed move any year in the future if their financial situation or preference changes.
I'm so tired of seniors telling me that they know Supplements are better and they'll get one later if they get really sick! I tell them to be sure and apply for $100,000 of life ins. at the same time! But that they won't qualify for either!
Come on sales people. Be professionals. Learn your craft and put the clients needs ahead of yours. If you do it right you'll have good persistency and a high rate of referrals.
Sell a fair no. of Adv. Plans and you'll probably get free leads. Sell three times as many supplements with the same company and no one will even congratulate you
Like it or not Medicare Advantage works best for healthy clients and clients with no money.
people with money are often mislead to buy Adv. Plans due to being directed that way, lack of knowledge and the belief that they may be short of money later in life.
Explain what happens to them if they need chemo therapy. $3400, $6700 or next year over $11,000 for out of network treatment even if their PPO is accepted. And that may be pay in advance. Tell them what guaranteed issue is and how they will lose it on an Advantage plan.
Then give them three choices: Advantage Plan now, Supplement now and Supplement now with a guaranteed move any year in the future if their financial situation or preference changes.
I'm so tired of seniors telling me that they know Supplements are better and they'll get one later if they get really sick! I tell them to be sure and apply for $100,000 of life ins. at the same time! But that they won't qualify for either!
Come on sales people. Be professionals. Learn your craft and put the clients needs ahead of yours. If you do it right you'll have good persistency and a high rate of referrals.
Wow....you should take this opportunity to jump into the Medicare market....even specialize in it. I did exactly this about 6-years ago....best decision I ever made. The first year comp isn't great but the renewal streams are excellent. Most carriers pay 6-10 years on a case. UnitedHealthcare began lifetime renewals on new Medigap business written starting last year. You should also get AHIP certified to sell MAPD, PDP and MA plans to offer clients "complete" service. Trust me...it's worth your time and effort. Focus on the Medicare side of things first....for these are all the same people you can later cross-sell for life, annuities, dental, LTC or critical illness. Your existing book of business would be a great place to start for easy Medicare sales.
Like many before have said, for an agent the path to success is Medigap. However, depending on plans available in your area, you can find a lot of happy customers with MAPD. Most of my MAPD clients are either well-off financially and can handle all the co-pays and up to $6,700 in OOP each year OR...they are on the other end of the financial spectrum....very low income and perhaps even qualify for Medicaid. Otherwise, for middle class/middle income folks most prefer Original Medicare + Medigap + Stand-alone PDP. Just sayin'.....good luck!
Like many before have said, for an agent the path to success is Medigap. However, depending on plans available in your area, you can find a lot of happy customers with MAPD. Most of my MAPD clients are either well-off financially and can handle all the co-pays and up to $6,700 in OOP each year OR...they are on the other end of the financial spectrum....very low income and perhaps even qualify for Medicaid. Otherwise, for middle class/middle income folks most prefer Original Medicare + Medigap + Stand-alone PDP. Just sayin'.....good luck!
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