Why A Lead Generation Company Using Dedicated Medicare Supplemental Insurance Forms Is Best

The main reason to buy leads culled from Medicare supplemental insurance forms is that those forms actually ask consumers if they are looking for Medicare supplements, if they are looking for Medicare Advantage or Medigap coverage and if they are covered under Medicare Part A & B.

The answers to those questions tell an agent right away that the individual who filled out the form is actually searching for Medicare information and he or she is in the market to buy a policy. Additionally, with all the extra information on the forms it makes calling such a lead a lot easier.

Selling insurance can be a tough gig, that’s for sure. However, if you buy pre-qualified, pre-screened leads that come in real-time when you want them, that’s a win-win situation.

Marketing Needs and Customer Needs Do Not Always Align

It is inevitable that you and your customers will not have the same point of view on insurance. In fact, a large number of marketers do not understand the consumers’ point of view. The marketer’s point of view is selling insurance to grow a company and earn a good reputation. Consumers look at it from the point of view of their wants, interests and needs. Customers also look at the marketer and if they come across as being a product driven sales person. Most consumers switch off listening and ignore the pitch. They ignore it because it does not serve them and under those circumstances, a sale is not likely.

To avoid losing sales, you will need to put yourself in your customers’ shoes. Be your customer. If you were looking for insurance what would you want, need, prefer and would be interested in? Is it Medicare Advantage? The new plans coming for 2019? The new insurers coming online? The extra options that will be offered to Medicare Advantage (MA) beneficiaries?

If you gain a better understanding of your customer needs, then you will be more successful in obtaining new customers.

AEP is Here for Medicare – Work it to Your Advantage

This is the perfect time to focus on your Medicare customers. The Medicare Annual Election Period is at hand.

It can be confusing for your regular and potential clients to keep the various annual election periods (AEP) straight. For Medicare Advantage/Part C and Medicare prescription drug plans there is an annual period to sign up, disenroll or change coverage for a plan. That period is October 15 to December 7.

However, if leads you are working with during this period did not sign up for one of those plans when they were first eligible for Medicare, referred to as their initial enrollment period, the AEP is their chance to make changes. Having said that, there is an exception to that general rule of thumb if the lead qualifies for a Special Election Period. (SEP)

What changes can your new and existing Medicare customers make during the AEP?

Even though your agency has sold and serviced Medicare plans for years, and frequently works with new leads, it never hurts to have good information on hand when speaking to customers. Education is a crucial part of your job.

In general, here is what existing and new Medicare customers may do during the AEP:

  • Opt out of prescription drug coverage
  • Enroll in a Part D prescription drug plan
  • Switch from one drug plan to another
  • Switch from Original Medicare, parts A and B, to Medicare Advantage
  • Switch to Original Medicare from Medicare Advantage
  • Switch from one Medicare Advantage plan to another

It’s important to note that any changes made during the open enrolment period do not go into effect until January 1 of the following year and your customers need to know that information.

The disenrollment period is January 1 to February 14 every year and new customers and converted leads can make changes during that period such as, switching to Original Medicare, Part A and B from Medicare Advantage.

The rules and regulations and dates and timing of when to start and stop or switch plans is considered to be one of the most frustrating things older Americans have to deal with every year. With the right approach to customer service, a thorough understanding of your products and the necessary educational component for your customers as part of your smart marketing plan, you are bound to garner numerous conversions from leads and keep existing clients happy.

Master Medicare Policy Details Before Starting to Sell

In order to sell Medicare plans, you need an intimate understanding of their details. Make sure you set yourself up for success.

You must know how Medicare Parts A and B work — and what they offer and do not offer — before you can sell supplement plans (Medigap plans) with confidence. It is not enough to just read about Medicare, but it is a start. You can also ask other agents who sell this type of insurance to get their real-life, real-time understanding of the original Medicare and what it offers today.

To be successful in sales, you must carry a valid insurance license in the state(s) in which you plan to do business. The vast majority of carriers want you to have Errors and Omissions insurance. You can shop around for carriers, as prices vary.

Early in your work with Medicare, you will need at least two appointments to sell products for two different insurers who offer Medicare supplement plans and Medicare Advantage. Over time, you may expand the number of carriers for which you sell, but two is a good starting point that will allow you to get used to the market and carriers. Shop around for competitive carriers that appeal to your sense of business ethics.

Commit the co-pays and benefits for each company you represent to memory. Read all of the material supplied to you and get to know how each company deals with customers. You might also want to consider a marketing organization, which will have contracts with multiple insurance carriers. These companies consolidate the various Medicare contracts in one place.

Once you have your system in place, source a lead generation company with a good reputation, good pricing and an excellent customer care department. Set your goals, ask for what you want (preferably exclusive online leads) and get to work on converting the potential customers that land in your inbox.

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