January 19th, 2021
No matter if you are new to selling insurance or not, you need to take a serious look at the Medicare market and how you can utilize this market to grow your revenues. The need for Medicare Advantage and Medicare Supplement plans is vast. Every day over 10,000 people turn 65 years of age and are in need of guidance in deciding what insurance options are available to them.
When people evaluate their need for Medicare, it can be confusing and overwhelming. Seniors receive a ton of Medicare-related literature; it’s truly information overload. These prospects can become baffled and
Health Marketing Manager
simply frustrated when trying to understand the ins-and-outs of Medicare on their own. In a growing number of instances, prospects have retired from large companies that no longer pay for their post-65 health insurance, but are now offering a reimbursement to retirees investing in personal insurance. It works well but leaves the retiree with more questions than answers. You can provide that sense of relief to a senior through detailed, concise explanations of how Medicare works. You don’t need some slick sales pitch to entice them into a plan purchase. You’re already a tremendous asset, and your help is truly wanted and appreciated.
Did you know Medicare Advantage markets are currently booming? In fact, about 60% of all Medicare products sold across the country today are Medicare Advantage. There are simply better plans with lower premiums and more variety of benefits in plans than ever before. The average number of Medicare Advantage plan choices per county will increase from about 39 plans in 2020 to 47 plans in 2021. That’s a 78.5% increase since 2017 (CMS). Over 24 million people have Medicare Advantage, which is approximately 36% of Medicare beneficiaries.
This year Producers XL will be hosting another round of
“Medicare University” webinars.
This virtual university is helpful to both new and experienced Medicare agents as it provides an educative environment wherein you will learn what it takes to elevate yourself above all other Medicare advisors/agents in your area. My goal in 2021 is to help our agents learn more about not only Medicare but also how to discover other needs your clients may have and what you can do to protect them further.
Agents will dig deep into Medicare and look at the options clients have with Medicare supplements, Medicare Advantage plans, and Part D plans.
Agents will also learn about other ancillary products such as critical illness, hospital indemnity, dental/vision plans, and much, much more. We also have a wonderful segment about marketing your agency and ideas that help you transform your agency into a Medicare powerhouse.
To become a “Complete Medicare Advisor”, it’s necessary to continually develop and grow your knowledge about Medicare, all the options available from Medicare supplements to Medicare Advantage plans, but also other products you can utilize to help cover additional risks your clients may incur. Agents that focus only on a few products and do not evaluate the entire picture are providing a disservice to their clients.
If you are interested and would like to learn more about the Medicare market, please reach out to me today.
Keep an eye open for information on our Virtual Medicare University which will be starting soon!
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