If you’re a Medicare insurance agent, the Medicare Annual Enrollment Period (AEP) is probably your busiest season selling Medicare Advantage plans. The time after AEP can seem like a bit of a lull, but there is one sure-fire way to boost productivity – selling Medicare Supplement plans! Being able to sell Medicare Supplement plans after AEP can make a massive difference to your clients – and has some benefits for you as well!
Expand Your Client Base
If you haven’t already, get contracted to sell Medicare Supplement plans. Selling Medicare Supplements can widen your client base significantly. Not all clients are the same – and Medicare Advantage plans are not the best choice for everyone. If you’re offering more options, you will have something that will meet a client’s needs. In turn, you’re now more likely to close the sale. The types of people who might find Medicare Supplement plans to be the right fit for them are people who: require more medical attention, like simple plans and prefer little to no copays, often travel, dislike physician and hospital networks, and those who dislike change. Medicare Supplement plans are standardized and do not change often – so these plans are a no-brainer to offer to clients who are not fans of change.
You probably already have clients who qualify and might be interested in Medicare Supplement plans – reach out to them today! And, if you’re able to give your clients a Medicare plan that suits their needs – they will more than likely tell their friends. Eventually, you will have referrals pouring in.
Easy to Start Selling
Medicare Supplement plans do not have an enrollment period like AEP is to Medicare Advantage plans. You can sell Medicare Supplement coverage all year round – and they do not require annual certifications and training. With no red tape or set enrollment period, you could get the ball rolling today and be earning commissions in no time!
As you may already know, Medicare Supplement plans are standardized by letter – but the premiums can vary. Premiums can vary based upon carrier, plan, and location. So, clients can receive the same coverage no matter which plans they choose – make sure you’re always keeping up to date with being contracted with the most competitive plans in your area.
Selling Medicare Supplements after AEP can also help fill your wallet throughout the year. When selling a Medicare Supplement, you earn the same commission level for at least seven years. If you have a steady stream of Medicare Supplement clients – you can create a steady stream of income in commissions alone. If you target new clients every year, your commissions could compound exponentially. Even if you sell $12,000 in commissions each year, that’s still an extra $84,000 by your 7th year. This kind of financial incentive can be a morale booster for any insurance agent.
Not only do Medicare Supplements offer the opportunity for insurance agents to rack up tons of money in commissions – many also offer quarterly bonus programs. This can help you grow your agency if that is something you’re interested in – or provide you, as an independent insurance agent, the opportunity to earn more money – and sometimes vacations!
Many Medicare Supplement carriers incentivize agents and agencies by giving them monetary bonuses for many underwritten applications for a specific time. Click here to read more about our available incentive programs from carriers for the first quarter of 2021.
All in all, it’s clear to see that selling Medicare Supplements after AEP can be a huge productivity boost – and also help you help more clients. So, open your book of business, and start calling today! Are you interested in getting contracted with the latest Medicare Supplements from Agent Pipeline? Click here or call your Regional Market Manager today!