Medicare Advantage Sales Connecticut
As the title implies, Medicare Advantage Sales Connecticut will detail specific strategies in CT. If you are looking for more general Medicare Advantage info or producer sales contracting, you may use this link to see our national Medicare sales post. Click for Medicare Advantage Sales Connecticut is one of the easier states to sell MAPD plans in because of the uniformity in most counties. MAPD plans can vary greatly by county in some states. Some companies have plans in one county and not another or they may have a different set of benefits in each county. Connecticut has a modest number of plans that stay the same county by county.
CT has these MAPD plans available:
United Healthcare, Aetna, Connecticare, Wellcare and also Anthem BCBS. Plans with all companies are fairly consistent from county to county. We provide agents with an online quote engine. This will allow agents to get quotes for all the plans from one site and compare them. The Plans include, Medicare Advantage, Medicare Supplement and Part D plans. In Connecticut, the plans offered by the companies keep their benefits consistent in Fairfield, litchfield, Hartford and New Haven counties. There are a few minor exceptions but not many. Part D rx plans are the same throughout the state. Some of the more popular plans are the UHC Medicare supplement plans, Express Scripts, Silver Scripts and Humana.
Medicare supplements are standardized in CT.
Not all companies offer all plans but the United Healthcare/UHC Medicare Supplement combined have the best plan F rates. Anthem and United have the best plan N rates and United American has the best high F supplement rate. Connecticut does not allow underwriting on Medicare supplements at any time. CT is one of the few states the does not allow underwriting. Due to the absence of underwriting, members may change Medicare Supplements any time during the year. Internal changes from company to company or to a different company.
In CT, Medicare Advantage Sales compensation is standardized.
New MAPD plans are a $483 payment and renewals are $242. Medicare supplements range depending on the company and plan. Combined life pays a 16% street commission (Adds up to about $350 and $350 renewal on plan F) while the UHC Medicare Supplement pays set comps for each plan $210 for plans F and N with a $210 renewal.
CMS regulates both MAPD and Stand Along PDP plans. There are a number of rules that you must be follow in order to stay compliant. We provide full training on compliant selling. A link to the CMS rules has been provided here. CLICK FOR CMS SALES RULES LINK
Here is a checklist of what you need to do prior to selling:
- Determine carriers you want and if you plan to sell both MAPD and Supplements or only one type
- Submit contracting- We use one contract and then submit to all carriers using the one master form
- Complete your Medicare certifications-AHIP is required to sell most carriers. (Not required for UHC sales)
- Once you receive a ready to sell status, order materials.
- Purchase a quote engine or use our free engine.
- Learn all the small details that will help you sell more
How much will a good agent make?
A good agent that is organized, has good product knowledge, works leads hard and follows up with people should write 125 to 150 plans a year. At 150 plans a year they will generate about $48,000 in commission. This will also create a renewal income of about $35,000. keeping that pace for 4 years would yield a income of about $156,000. $48,000 of that being new business payments and $108,000 of it being renewal income.