Supplements and Medicare Advantage

[TexasGirlyGirl]

Currently, I am selling Med Supps. I believe that they are better if someone can afford it. However, with this economy, I am loosing alot of business to Med Advantage policies, and to other carriers that sell the same Med Supp plan for less premium each month.

So, I am thinking of selling both Med Supps and Med Advantage. Also, thinking about bringing on more than 1 Med Supp to sell, so I can be competive with price if I get that objection.

Does anyone do this? And if so, how are you marketing yourself? Do you go in with a Med Supp, then if they say no, do you tell them you carry Med Advantage? Then, do you whip out some sort of form to be compliant with CMS? How does all this work for you?

Please advise. Need some help please

 

[Russ]

I am licensed with 4 different companies for med-supps...AARP, MoO, Continental Life and Sterling Investors. Plus, I have starting writing MAPD's with AARP too.

Better off having multiple companies for med-supps and being licensed with companies that have the most competitive rates for med-supps so the competition can't come in and knock you out. This job is hard enough as is without having to worry about competitors undercutting med-supp prices.

I haven't written that many MAPD's yet, but I will if the customer says they can't afford med-supp prices. I work in a rural area where MA's aren't as commonly bought as med-supps.

I love writing med-supps...easy for the client to understand. They know their monthly out-of-pocket expenses and have access to all providers that accept Medicare.

 

[GreenSky]

This is how most of us work. We have several Med Supps and a number of MA plans.

Rick

 

[TexasGirlyGirl]

I think that is what I am figuring out. I am a career agent with this one company. But just now learning that all the other career agents who actually make money at our company, are also selling other med supp policies with other companies. I will probably jump on the bandwagon soon. My pocketbook is empty.

 

[insuranceconceptscindy]

It's smart to be able to offer as many options as you can. I show my clients both "paths" they can choose. Along with the benefits and drawbacks to each direction.

Unless there is a money issue or if they are under 65, the majority of my new clients go with a supplement. It's a no-brainer.

If you offer both, you'll have a much better chance to close that sale.

 

[Frank Stastny]

I only sell Med Supps and stay licensed with what I consider the three most competitive companies in the areas I sell in.

I also generate my own leads.

A captive is at a huge disadvantage today if they want to sell Med Supps. To be successful you are going to have to have the flexibility to move with the market.

 

[rbrewer]

I think that is what I am figuring out. I am a career agent with this one company. But just now learning that all the other career agents who actually make money at our company, are also selling other med supp policies with other companies. I will probably jump on the bandwagon soon. My pocketbook is empty.

You should figure out what you want to do soon as med adv season starts Nov 15th and you have to contract and certify with each company.