New Agent

Jan 30, 2016

  1. tyguy999

    tyguy999 New Member

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    Hey I'm a new agent and I'm learning the ropes and rules of the game. A few months ago I didn't even know how to get health insurance. Can you guys tell me any tips to #1 learn the lingo, #2 learn the plans, and #3 better explain the plans to customers?
    tyguy999, Jan 30, 2016
  2. Alston

    Alston Guru

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    #1 Keep reading this forum. However, what is really important is being able to convert insurance jargon into terms that your clients can intuitively understand.
    #2 Read the outline of coverage for one plan and learn it well. Make sure that you know what a deductible, copay and coinsurance are. Know what services they apply to. Pay special attention to what medical services the deductible applies to. Know what "Out of Pocket" maximum means.

    After you have mastered the ins and outs of one policy move to another, then another.

    This process may take days. However, eventually you will be able to scan and understand an outline of coverage of policy you haven't seen before quickly enough to do it in front of a client.

    1. Write out your description of the first plan.
    2. Then practice with a tape recorder (or whatever 21st century voice recording device that will do the trick).
    3. Pay attention to how your clients react. Keep refining your description.
    4. Write your revised script down. Go back through the steps if you think you should.

    Last edited: Jan 31, 2016
    Alston, Jan 30, 2016
  3. MW Agent

    MW Agent Super Genius

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    Alston, had very good suggestions. I would also add, don't be afraid to call the carriers with questions. The carrier reps will have a lot of time on their hands shortly after all the billing issues are resolved.

    I tell all my clients that when we evaluate a plan, there are four things that vary by each plan that you need to understand:

    1. The most important is the out of pocket maximum. This is your worst case scenerio that you will pay out out of pocket (in addition to your premiums) if something major were to happen. Obviously, this only applies to in-network services and covered prescriptions.

    2. The second is your deductible.

    3. The third is your co-insurance. Once you hit the deductible, this the percentage you still pay until you hit the out of pocket maximum.

    4. Any co-pays for unfront benefits on the plans like office visits and prescriptions. I make sure to explain how on most plans, the co-pay only covers the consultation with the doctor, not any additional testing or lab work (there are some exceptions out there).

    I usually then proceed to show them the best priced comprehensive plan on the market. I'll then show them one of the better priced highest deductible options. Then I'll tell them there are plenty of plans in-between. Do you have an idea on where you would like to focus? What does a typical year look like for you in regards to doctor visits/prescriptions?

    I then walk them through a spreadsheet of the different plan options in my marketplace. Before I run a quote and we get back together, I ask them for the key data so I can walk them through their options: doctors they visit and any prescriptions they use.

    Just putting together the Excel template of plans is a tremendous education on the in's and out's of the plans. I go through the SPD's each year right after they are released, then create a new spreadsheet of Marketplace and non-Marketplace plans.

    In my area, there are a number of options. In other markets, it's very limited. I pay someone off of Odesk (or whatever the new name is) $6 per spreadsheet they complete using my quoting software subscription. It has the four key plan elements listed above for each plan on the spreadsheet.
    MW Agent, Jan 31, 2016
  4. faizy

    faizy New Member

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    You can google it about insurance tips and policies
    faizy, Feb 1, 2016