Prepare for AEP
Prepare for AEP early. As an independent insurance agent, Fall can be one of the most stressful times of the year due to the Annual Enrollment Period. But it doesn’t have to be! Although it will still be busy, there are four easy steps you can take now to ensure you’ll feel more prepared by October 15th. With these steps, you’ll be ready to capitalize on the biggest Medicare Advantage sales period of the year.
Prepare for AEP – Take time to review and choose carrier plans
This is the moment to take stock of your portfolio. Which carriers are you representing? Which of their plans have sold the best for you in the past? What do you have to offer new and returning clients? An agent should be familiar with the ins and outs of the plans they offer, including the benefits, costs, and applications so that you can meet the needs of your clients.
Prepare for AEP -Get ready to sell
Make sure that the basic requirements that you need to have met in order to legally and ethically sell Medicare Advantage have all been met. AEP is no time for surprises! Are your carrier certifications all completed? Is your AHIP exam completed and passed? Have you familiarized yourself with the new regulations from the Center for Medicare and Medicaid Services (CMS)? It is vital that you be in compliance with all certifications, exams, and regulations in order to sell Medicare products.
Prepare for AEP -Gather resources and marketing tools
AEP can go much more smoothly if you partner with an FMO, or a Field Marketing Organization. They often offer their agents and partners access to many free marketing tools and resources, like event planning, reimbursement for certain purchases that go towards marketing, compliance support, online portals for data analysis and platforms for call recording, and even teams of people whose job it is to support your sales.
Look at the data
This is a good time to look at the numbers from previous AEPs. Are there certain demographics you do particularly well with? Do you have some plans in your portfolio that haven’t sold well in a few years? Look for trends and patterns and use them to identify strengths and areas of improvement to focus your energy on during this AEP.
With these steps, AEP may seem much less stressful than previous years, and maybe even much more exciting.
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