GET CONTRACTED
[email protected]
Call us: 1.203.796.5403
Crowe & AssociatesCrowe & Associates
  • Home
  • ABOUT
  • Sales blog
  • Sales Tools
    • Online enrollment
    • Quote and comparison site
    • Application Processing
    • Free Medicare lead program
    • Agent website
    • Predictive dialer
  • Free Leads
  • Products
    • Medicare Plans
    • Life Insurance Plans
    • Final Expense Insurance
    • Long Term Care Insurance
    • Fixed and Indexed Annuities
    • Healthshares
    • Dental and Vision Plans
    • Other Products
  • Training Webinars

Selling Medicare Supplements

    Home agentblog Selling Medicare Supplements
    NextPrevious
    Selling Medicare Supplements

    Selling Medicare Supplements

    By Ed Crowe | Agent blogMedicare Sales for Agents | 0 comment | 14 September, 2017 | 0

    Selling Medicare Supplements

    All prospective and current Medicare sales people have heard there is a huge opportunity selling Medicare supplements.  Most people say this is due to all the Baby Boomers turning 65 every day.  In theory, this is correct.  Although there are so many people turning 65, it does not mean the business is easy. There are a number of steps to take in order to make it in the Medicare sales field.  I am not going to repeat all the same old numbers. Instead I will explain how you can take advantage of the opportunity.

    Why Selling Medicare Supplements works

    There are positives as well as negatives with Medicare Supplement sales.  The first,  if you are selling supplements and are not selling Medicare Advantage and/or Medicare stand along PDP plans, you will be missing out on revenue.  In fact, most people who buy a Medicare supplement will also buy a stand alone RX plan.  Some clients will not want a supplement and will only want an Advantage plan.  On the positive side, supplements are easy to market and do not require annual certifications.   Some of the benefits are….

    • Most don’t require annual certifications to sell them
    • You can use them to connect with people in Original Medicare and make sales throughout the year.
    • There are a number of guaranteed issue states.  This makes it very easy to sell supplements to clients over age 65.
    • Our agency (Crowe and Associates) has an electronic enrollment system that allows you to enroll clients in any Medicare supplement company over the phone.

    If you want to learn about Medicare advantage and Part D sales Click this link to learn more. Also read review our Medicare sales agent guide for more basics on Medicare sales and how to get started.  Keep in mind, there are a number of rules when selling MAPD or PDP plans.  CMS marketing rules

    START SELLING MEDICARE SUPPLEMENTS CLICK HERE FOR A CONTRACT

    To get started, simply fill out our contracting kit CLICK THIS LINK FOR CROWE AND ASSOCIATES CONTRACTING 2019 and fax it back to us at 203-567-6235 or email to [email protected]

    Click the link below if you want to watch our webinar on how to have a face to face Medicare sales appointment.

    Medicare sales appointment training

    More about Selling Medicare Supplements

    Standard Benefits

    All Med Supp plans (A through N) are standardized. This means any company that offers a plan F supplement, must offer the same benefits.  The only difference is in the pricing. An exception to this rule is in the states of MA, MN and WI which are non-standardized states.  They do not have standardized plans and  (In Massachusetts, Minnesota, and Wisconsin, standardized plans can be changed without approval from governing bodies)

    Standard Medicare Supplement Plans & Benefits as of 2019

    Click here to view a chart of the different supplement plans and their benefits

    1Enrollees in high-deductible Plan F must pay for their Medicare-covered costs up to the deductible amount before the Med Supp begins to pay.
    2Med Supp pays 100% of the Part B coinsurance. This excludes co-payments of up to $20 for some office visits and up to $50 for ER visits that don’t lead to inpatient admission.
    3Upon meeting your annual out-of-pocket limit and annual Part B deductible, the Med Supp pays 100% of all covered services for the remainder of the calendar year.

    Selling Medicare Supplements plan costs

    Usually, the better the benefits (the more things covered) the higher the premium of the plan. This is not always the case but usually is.  For example a Plan G should cost more than a plan N or a Plan N should cost more than a plan K.  Companies pick and choose which plans they want to be competitive with price point vs. benefits.  Usually, it is good to be able to sell the lowest cost plan G, N,L and high F in your area.  There are exceptions of course but those 4 plans will cover just about all of your bases.

    Selling Medicare Supplements that are guaranteed to renewable

    All Med Supp plans are guaranteed renew.  This means that clients can stay in the plan as long as they pay the monthly premium. This even applies to plans that have been discontinued by the carrier.

    Guaranteed Issue

    Some states such as NY, CT and MA are always guaranteed issue for any age regardless of health status.  Most states only have guaranteed issue during certain times.  An example is when someone is turning 65 or first becoming eligible for Medicare.  It is also true for someone that is 65 or older,  losing group coverage and signing up for part B of Medicare.  However, if they are outside any of the mentioned periods, they will be subject to medical underwriting.

    Selling Medicare Supplements: Comparing rates

    Since Medicare supplements have the same benefits, it is really just a matter of finding the right supplement (usually G,N, K, L or high F) and the company with that plan at the lowest price.  This is easy to do using our online quote system which quotes Medicare Advantage, Supplement and part D plans.   Click for site (call for a password to give it a try)

    Working with prospects:

    Its important to understand your clients situation in order to recommend the right supplement.  In other words, get an idea how often they utilize care and what they can handle in their budget.

    Med Supp plans can have different rates based on an individual’s zip code, age, gender, use of tobacco, as well as marital status.  Keep in mind; not all plans include foreign travel emergency coverage either. Some states do not allow pricing differences. Everyone gets the same rate regardless of age, tobacco use or gender.  The three common states that do this are NY & CT as well as MA.

    Selling Medicare Supplements: Plan C and F discontinued for 1-1-20

    Plans C and F will not be available to those aging into Medicare as of 1-1-20. Anyone that turns 65 or enrolls in Medicare A and B prior to that date can stay in or buy plan C and F even after 1-1-20. This is not a big issue as plan G will still be available and covers just about the same benefits with the exception of the part B deductible.

    Selling Medicare Supplements: Marketing

    In fact, one of the hardest parts of starting in the Medicare sales business is getting in front of enough people.  Because we work with new agents every day, we can provide suggestions that can help you get started.  In addition, we provide lead support to help with your marketing efforts.

    Click to learn about our Medicare lead program Please feel free to contact us.  You can either call our office at (203)796-5403 or email us at [email protected]  We can schedule a training meeting  as well as help you plan your marketing strategy.

     

    Med supp contracting ,medicare supplement sales ,Medicare Supplements ,Medigap sales ,selling medicare supplements
    Avatar

    Ed Crowe

    More posts by Ed Crowe

    Related Post

    Leave a Comment

    Cancel reply

    Your email address will not be published. Required fields are marked *

    NextPrevious

    Categories

    • Agent blog
    • Annuities
    • Broker Contracting
    • dental insurance
    • Employer health insurance plans
    • Errors and Omissions coverage
    • final expense
    • General Article
    • How to start selling insurance
    • Investments
    • Lead Programs
    • Medicare compliance
    • Medicare election periods
    • Medicare information
    • medicare online enrollment
    • Medicare Sales for Agents
    • social security

    Recent Comments

    • Janine Gross on Becoming A Licensed Medicare Agent
    • Yvonne Parr on Starting an independent insurance agency
    • William Robertson on Becoming an Independent Insurance Agent
    • Jennifer Oyarzabal on Free Medicare Lead Program (Turning 65/Med Supplement Leads)
    • annfalos on Cold calling scripts for insurance

    Social Icons

    .

    Archives

    • February 2021
    • January 2021
    • August 2020
    • July 2020
    • June 2020
    • May 2020
    • April 2020
    • March 2020
    • February 2020
    • January 2020
    • December 2019
    • November 2019
    • September 2019
    • August 2019
    • July 2019
    • June 2019
    • May 2019
    • April 2019
    • March 2019
    • February 2019
    • January 2019
    • October 2018
    • September 2018
    • August 2018
    • July 2018
    • June 2018
    • March 2018
    • February 2018
    • January 2018
    • December 2017
    • November 2017
    • October 2017
    • September 2017
    • August 2017
    • July 2017
    • June 2017
    • May 2017
    • April 2017
    • March 2017
    • February 2017
    • January 2017
    • December 2016
    • November 2016
    • October 2016
    • August 2016
    • July 2016
    • June 2016
    • May 2016
    • April 2016
    • March 2016
    • February 2016
    • January 2016
    • September 2015
    • August 2015
    • July 2015
    • June 2015
    • May 2015

    Recent Posts

    • Nationwide Peak 10 Indexed Annuity
      24 February 2021
      0

      Nationwide Peak 10 Indexed Annuity

    • Connecticut Medicare FMO
      23 February 2021
      0

      Connecticut Medicare FMO

    • Anthem OTC catalog 2021
      27 January 2021
      0

      Anthem OTC catalog 2021

    • Sunfire Matrix Medicare
      26 January 2021
      0

      Sunfire Matrix Medicare

    With licensed sales professionals in both the investment and insurance fields, the experienced and knowledgeable team at Crowe & Associates can tend to your various needs.

    Latest News

    • Humana OTC catalog 2021

      Humana OTC catalog 2021

      Humana OTC catalog 2021 The Humana OTC catalog 2021 is a great

      10 February, 2021

    Follow Us

    • Follow Us on LinkedIn
    • Find Us on Facebook
    • Watch Us on YouTube

    Subscribe to our newsletter

    Edward K. Crowe & Associates LLC BBB Business Review
    • Home
    • About
    • Agents
    • Quote
    • Retirement
    • Services
    • Blog
    • Contact
    Copyright Crowe & Associates | All Rights Reserved | Designed By SMS
    • Home
    • ABOUT
    • Sales blog
    • Sales Tools
      • Online enrollment
      • Quote and comparison site
      • Application Processing
      • Free Medicare lead program
      • Agent website
      • Predictive dialer
    • Free Leads
    • Products
      • Medicare Plans
      • Life Insurance Plans
      • Final Expense Insurance
      • Long Term Care Insurance
      • Fixed and Indexed Annuities
      • Healthshares
      • Dental and Vision Plans
      • Other Products
    • Training Webinars
    Crowe & AssociatesCrowe & Associates

    Online Enrollment- Enroll prospects online without the need for a face to face appointment. Access to all major carriers with the ability to compare plan benefits and prescription drug costs. Link to recorded webinar https://attendee.gotowebinar.com/recording/2899290519088332033

    All agents receive a personalized enrollment website. Prospects can use the site to compare plans, check doctors, run drug comparisons and enroll in plans. Agents are credited for all enrollments. Click Here