United Health Care Medicare Supplement Sales
Many agents selling Medicare supplement plans (Also called Medigap plans) rely heavily on United Health Care Medicare Supplement sales in a number of states. There are multiple reasons these branded products dominate the Medicare supplement landscape. Two of the bigger ones are branding and rates. United Health Care branded products carry a lot of weight with the public. As a result, many people simply buy a particular supplement because they know the name. The other reason is rates. In many states, branded products have established themselves as the lowest cost Medicare supplement with a number of options such as F,N, K and L.
Should agents be contracted to sell United Health Care Medicare branded supplements?
The short answer to this question is “yes”. Many clients will simply want an branded supplement regardless of what else is available in their state. You may show them a standardized supplement with a lower rate but they will want the brand name. If you can not offer it to them, you will be walking away from a sale. Since plans are standardized in most states and there is no issue with network (supplements do not use networks) any company with the same plan at a lower rate is a better deal but they may not want to hear it. It is recommended to have branded supplements as an offering for other reasons as well. First of all, they tend to pay commission very accurately. While they are not one of the higher payouts, you know the commission will be paid correctly.
Most people would chime in here and say “well, they only pay for 6 years”. This is true, they do only pay comp for 6 years on a case and that is certainly an issue. They will never pay renewals beyond 6 years contrary to what many might hope. Still, the are a big name to have and in the states where they do have the best rates, there may be no alternative.
How do you get contracted to sell United Health Care Branded Medicare supplements?
United Health Care Branded Medicare Supplement sales contracting is easy. Simply fill out a contracting kit CLICK HERE FOR MORE INFO ON MEDICARE SUPPLEMENT SALES AND CONTRACTING The only negative about the contracting process is the certs. Most if not all other Medicare supplement plans do not require any type of annual certification. Some branded supplement companies require an annual certification in order to sell their product. Also, be aware that some Medicare supplement companies will require you sell at least 5 plans from January through March in order to maintain the contract.
What are the best Branded Supplement plans to sell?
The state you are selling in can have change this answer but in general it will be plans F, N, L and K. Not all companies offer a plan G currently or a High deductible F plan but they do have very strong rates with F, N, L and K. They are releasing a well priced plan G in most states as of 7-1-2017 however. Make note the plan L and K are very easy to sell and well priced but there is a commission reduction for selling those plans.
How is the underwriting for United Health Care branded Medicare supplement plans?
In general, UHC branded supplements have the most forgiving medical underwriting. Underwriting is not allowed at any time in some states. Examples of guaranteed issue states are CT and NY. In the state that do allow it outside of guaranteed issue periods, they are one of the easiest to place.
Will UHC eventually offer a High Deductible F Medicare Supplement?
I really do not think UHCwill offer the high F plan. This is too bad because the high F can lead to substantial savings for clients. If a high F plan is priced appropriately, it can be the best option for a client. CLICK HERE TO LEARN MORE ABOUT HIGH DEDUCTIBLE F MEDICARE PLANS