Posted on Friday, February 21, 2014
In the ever-changing world of health insurance, agents need to continue to innovate and add layers to their business model to stay successful. Selling only health or ancillary plans might not work as well today as it did in the past. As a result, many health insurance agents are turning to the Baby Boomer generation to help them rake in their profits; after all, there are nearly 10,000 of them turning 65 every single day. The potential is there, it’s just a matter of taking the risk and working hard to make sure the rest falls in place.
Selling Medicare insurance is not as simple as selling health insurance…at first. There are more rules to follow, more certifications to earn, and more details the must be just right. Luckily, we've rounded up several of the most critical so you can get started today to be ready to sell Medicare products once the Annual Enrollment Period rolls around in October!
1. Decide where you want to sell
While your home state probably seems like the most obvious answer, it might not be the best one. Some states (Texas, Florida, and California) have much higher volume than others (Alaska and Wyoming). Examine the Medicare market and decide which states make the most sense for you. With today’s technology, you can sell a plan to a woman in California while sitting in your kitchen in Vermont!
2. Decide which Medicare provides you'll represent
As with other lines of insurance, you’ll need to decide which carriers you want to sell and then become appointed with them. Make sure you look at their commission structures and other business practices before making your decision.
3. Become certified to sell Medicare Advantage and Medicare Part D
The Center for Medicare and Medicaid Services creates very strict rules and guidelines that health insurance agents must follow to sell Medicare to seniors. You must get certified and then re-certified each year. You can see the complete set of guidelines here.
4. Purchase Medicare leads
The smartest solution for agents looking to jump in to the Medicare market is to purchase senior leads online. ASAP Quotes provides high quality health leads, actively shopping for insurance and filtered for age, at a fraction of the cost!