The Difference Between AEP and OEP

Medicare Supplement, Medicare Advantage, Medigap, Open Enrollment, Annual Enrollment.  There are so many buzz words associated with Medicare insurance sales that it is often difficult to differentiate what it all means.  One of the most confusing things to understand as an agent, let alone as a consumer, is what the difference between AEP and OEP is.

We are quickly approaching Annual Enrollment Period (AEP) for Medicare Advantage plans, not to be confused with Open Enrollment Period (OEP) that is correlated with Medicare Supplement plans.  AEP is an 8 week period from October 15th through December 7th where consumers can sign up for Medicare Part D and/or Medicare Advantage plans.  

OEP and Medicare Supplement plans (aka Medigap) is a little more complicated than AEP. OEP is a six month period from the beginning of a consumer’s Part B effective date. This is when a consumer can receive coverage without any health questions being asked.  There are a few circumstances that would begin an OEP including:

  • -Particular circumstances for someone on disability before their 65th birthday
  • -An individual’s 65th birthday
  • -Retirement and therefore loss of current group health plan after the age of 65

Once an individual has timed out of the six month period, they forfeit the opportunity to buy a Medicare Supplement plan without any medical questions being asked.  A consumer can sign up for a Medicare Supplement plan after that six month period, but they will be subject to health questions that could disqualify them for coverage by some insurance companies.

This graphic from boomerbenefits.com easily explains the differences we have explained above.  We recommend using this to help engage and explain the difference with your clients searching for information on their Medicare options.

Medicare insurance is an incredible investment for new agents or agents looking to expand their product portfolio, but it is exactly that; an investment.

Through our research and discoveries with our long term clients, we have found that Medicare consumers are likely to remain on an agent’s books for upwards of 8 years.  Though forming a client book will happen over time, lead services are a great way to guide consumers your way over a local competitor. While the marketing costs may be higher than referrals, the volume of potential clients is immediate, and the return over that consumer lifecycle pays for itself. 

When you are ready to increase your typical Medicare Supplement volume with exclusive leads, give us a call, because together we succeed!

Exclusive Medicare supplement leads

In this uncertain world today, Medicare supplements are a much sought after remedy to an insurance package that does not quite meet the needs of older Americans. Each person and each situation is different, but many of the supplements, in essence, remain the same across the nation.

The Medicare supplement market is one that will continue to grow, without end, as the population ages and discovers it needs more medical care and attention. If you want to be a part of that burgeoning market, consider buying exclusive Medicare supplement leads. They only come directly to you, based on what you have ordered.

Working those leads quickly and efficiently will place you in a prime position on the sales track in your agency. The process when working with these leads is not just to sell as much as you can, but to educate as well. You wouldn’t buy a pig in a poke, so don’t expect someone who needs Medicare supplements to buy one either. Many Americans these days are relatively well educated about Medicare supplements.

Provide the kind of service that seems to have gone by the wayside with the advent of technology. Provide personal service. Make phone calls. Perhaps even set up a meeting. We have lost touch with one another as a human race thanks to impersonal technology. Bring “personal” back and your customer base will grow in response.

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Effective senior marketing involves Medicare supplement leads

Without viable, ready-to-roll Medicare supplement leads, it is difficult to build your agency.

While you may sell many products, as many good insurance agents do, it is wise to also include Medicare, as the existing market and the next wave of seniors needing Medicare hold the key to growing your business. Where will you find hot leads?

You can attempt to find them on your own, but do you have the time to track them down, verify them, qualify them, spend time talking to them to determine what they need and then move to close the sale? You’d be chasing leads just about all day, every day if you did it the old-fashioned way. Why not just opt to get quality, pre-screened Medicare supplement leads and cut your time down by half, allowing you to call double the number of potential clients and sell even more?

You want quality leads, not leads that have been worked over. How do you know where to get good leads that pay off and determine if the company you are going to buy those leads from is reputable and reliable?

Here are several tips that will help you to determine if the lead generation company knows what it is doing: They check the leads they are working with against the national Do Not Call list; they offer excellent leads for a fair price; they have leads that pay off fast; and they allow you to choose the territory you want, qualify the leads and even determine how many you want each day, week or month. In other words, you choose what you want and control the outcome. If you go with a company that only offers what you need, you end up talking to qualified Medicare supplement buyers.

A word about exclusivity: Choose a lead generation company that offers you exclusive leads. Yes, they do cost more than the shared leads. However, they pay off quickly because they are qualified to buy, want the information and in most instances, are ready to buy. And as a bonus, they only come to your inbox, no one else gets them and you don’t have to share them, unless you want to offer another colleague in your office the chance to try them.

If you want to increase your productivity and your bottom line, choose to buy exclusive Medicare supplement leads. And while you are at it, given careful consideration to what other specialized products you could offer to the senior market. There are a number of other leads you could capitalize on by catering to the “gray wave” of tomorrow.

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Now is the time to invest in exclusive Medicare supplement leads

Let’s face it, Medicare is a hot-button topic for a variety of reasons. However, people still need it and will apply for it when the time comes. Sure, you could choose to just sell Medicare, because nearly everyone 65 and over will have it, sooner or later. However, if you want to value add to products your agency offers, then you will want to also sell Medicare supplements. Sell both together and your profit margin will be much higher.

Before you get all excited about this, though, make sure you buy the right kind of leads that actually pay off when you call – exclusive Medicare supplement leads. Don’t waste time and money on leads that have already been run by other agents and are essentially dead.

Buy the fresh, screened, pre-qualified and vetted, exclusive Medicare supplement leads and make some decent money. No one else but you will have access to the leads that you get in your inbox. No one else will have called a single potential customer on your list. It’s all up to you to make the sale and with hot-off-the-presses, real-time leads, this is easy. You’ve likely used the rest. Now use the best lead generation company on the Internet – Benepath.net.

Effective senior marketing involves Medicare supplement leads

Without viable, ready-to-roll Medicare supplement leads, it is difficult to build your agency.

While you may sell many products, as many good insurance agents do, it is wise to also include Medicare, as the existing market and the next wave of seniors needing Medicare hold the key to growing your business. Where will you find hot leads?

You can attempt to find them on your own, but do you have the time to track them down, verify them, qualify them, spend time talking to them to determine what they need and then move to close the sale? You’d be chasing leads just about all day, every day if you did it the old-fashioned way. Why not just opt to get quality, pre-screened Medicare supplement leads and cut your time down by half, allowing you to call double the number of potential clients and sell even more?

You want quality leads, not leads that have been worked over. How do you know where to get good leads that pay off and determine if the company you are going to buy those leads from is reputable and reliable?

Here are several tips that will help you to determine if the lead generation company knows what it is doing: They check the leads they are working with against the national Do Not Call list; they offer excellent leads for a fair price; they have leads that pay off fast; and they allow you to choose the territory you want, qualify the leads and even determine how many you want each day, week or month. In other words, you choose what you want and control the outcome. If you go with a company that only offers what you need, you end up talking to qualified Medicare supplement buyers.

A word about exclusivity: Choose a lead generation company that offers you exclusive leads. Yes, they do cost more than the shared leads. However, they pay off quickly because they are qualified to buy, want the information and in most instances, are ready to buy. And as a bonus, they only come to your inbox, no one else gets them and you don’t have to share them, unless you want to offer another colleague in your office the chance to try them.

If you want to increase your productivity and your bottom line, choose to buy exclusive Medicare supplement leads. And while you are at it, given careful consideration to what other specialized products you could offer to the senior market. There are a number of other leads you could capitalize on by catering to the “gray wave” of tomorrow.

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Work Your Exclusive Medicare Supplement Leads With The Right Tools

So, what are the right tools to work exclusive Medicare supplement leads? Let’s get back to basics here for a moment. All forms of marketing, even if you think they may be dead, are worth looking at. Why? This is due to the fact that there is a shift in the marketing world these days —- a shift back to the more personal approach. People want to know who they are dealing with. It’s just that simple.

Based on that premise, that the personal touch is appreciated, consider using instant messengers. It makes no difference what messenger service you use. Make sure you also use email and phone marketing and invest in buying exclusive Medicare supplement leads from a reputable lead generation company. Yes, calling is still a vital part of any marketing strategy, despite the proliferation of iPhones that allow people to text about everything.

Use relationship marketing when dealing with exclusive Medicare supplement leads. Call your leads right away, introduce yourself, ask how else you may be of service, offer to send them articles you have written about the type of insurance they are interested in, help them focus on ways to get the kind of coverage they need and want. Be the expert. Be friendly and approachable, knowledgeable, make complex language easy to understand and just be you, because you are your most powerful marketing tool.

Don’t forget blogging and making sure your website is properly optimized for the right kinds of keywords. While this may all sound overwhelming, if you do everything you can to market your skills, knowledge, services and product, those Medicare supplement leads will pay off by converting.

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