How Much Can One Make Per Year Selling Med Supps?

[Frank Stastny]

This is going to be good... Sit back, relax, and watch the fireworks.

Nah, no "fireworks".

He obviously knows a whole lot more about this than I do. He convinced me how knowledgeable he is when he said, "You all always get mad at Yoda and all he is trying to do is give a realistic view of the expectations." Who can argue with a protege of Yoda's?

One never learns anything while talking so I'm just going to sit back and take copious notes on everything he has to teach us.

On a side note: I guess it must have just been a fig newton of my imagination when in 1996-97 almost every senior in the St. Louis area dropped their Med Supps and took an HMO.

Let the learning begin!

 

[GreenSky]

Yoda is the man! He knows Medicare and how to sell better than anyone here.

In fact, since Jan 1, 2010, he's sold 7 plans! Gotta keep up the rent on the Coleman tent trailer.

Rick

 

[G.Gordon]

Gordon,

thats some awesome numbers. Did you start indy? Cold calling?

When reading a post like this 3 words come to mind: An Iron Will

I've allways been indy in any line of business I've focused on. I don't want someone over me telling me what to do when I already know.

Yes... cold calling.

 

[Longtimeagent]

There aren't too many people dumb enough to put out $2200 (PDP +Supp) a year when they could have a zero to $20/month plan with 5K out of pocket.

There are several reasons why you would want to put out "2200" a year for a supp+pdp, although that magic AP a lot lower now. You can get an F here in GA for 1400 and a pdp for 300...thats about 500 less than your overpriced msupp pdp combination. First off, the client has the ability to go anywhere and everywhere for care and doesn't have to worry about if their doc is going to accept the plan this time or not. Second, who wants to not know how much it will cost when they go to get some tests or surgery done? 20% of the unknown on most MA's is scary, and those per day hospital co-pays - even worse. And what happens when PFFS is a thing of the past soon? Those clients who want to see their own docs may not be able to if their doc won't accept PPO/HMO/HMO-POS plans?
Med Adv has its place but not in the majority of the houses I go into. I switched a ton of med adv clients to msupps in the OEP and AEP simply because thats what they wanted - BENEFITS of a msupp, not the unpredictable costs of an ma.

 

[Frank Stastny]

There are several reasons why you would want to put out "2200" a year for a supp+pdp, although that magic AP a lot lower now. You can get an F here in GA for 1400 and a pdp for 300...thats about 500 less than your overpriced msupp pdp combination. First off, the client has the ability to go anywhere and everywhere for care and doesn't have to worry about if their doc is going to accept the plan this time or not. Second, who wants to not know how much it will cost when they go to get some tests or surgery done? 20% of the unknown on most MA's is scary, and those per day hospital co-pays - even worse. And what happens when PFFS is a thing of the past soon? Those clients who want to see their own docs may not be able to if their doc won't accept PPO/HMO/HMO-POS plans?
Med Adv has its place but not in the majority of the houses I go into. I switched a ton of med adv clients to msupps in the OEP and AEP simply because thats what they wanted - BENEFITS of a msupp, not the unpredictable costs of an ma.

Spot on! Well said! Right Arm! Bravo! Let's hear a big AMEN for professional agents who know and understand the products they offer and which of them are the most appropriate for each individual prospect they see.

Part C Plans are not a good fit for the majority of my prospects either.

 

[Yoda]

Yoda is the man! He knows Medicare and how to sell better than anyone here.

In fact, since Jan 1, 2010, he's sold 7 plans! Gotta keep up the rent on the Coleman tent trailer.

Rick

I see you are patting your fellow forum shill "Frankie" on the back here. You shills go ahead and stick together and circle the wagons because er uh well........because you want to protect the 6 figure incomes you are making from the brilliant recruiting you are doing here. I wouldnt trade my renewals for you and "Frankies" fake 6 figure incomes if you threw in Roblianos fake 6 figure income with it. Is that what yu wanted to hear?

 

[sluggo08]

Bottom line, if you are only making 25k per year selling med supp you are not trying hard enough. When I was captive with MOO, there were 2 or 3 agents that made Chairmans Club, just off of supplement sales. I believe the threshold for CC was $78,000 nfyc. Keep in mind that the average comp for the agents was 12%, and they did get double NFYC for replacement policies, but that is still 230+ policies. Now if you choose to target T65 prospects, I can see low numbers. But as I always say, "there's gold in them hills" screw T65, I am going after the over 65 market, especially with the new plans coming out.

 

[Russ]

Bottom line, if you are only making 25k per year selling med supp you are not trying hard enough. When I was captive with MOO, there were 2 or 3 agents that made Chairmans Club, just off of supplement sales. I believe the threshold for CC was $78,000 nfyc. Keep in mind that the average comp for the agents was 12%, and they did get double NFYC for replacement policies, but that is still 230+ policies. Now if you choose to target T65 prospects, I can see low numbers. But as I always say, "there's gold in them hills" screw T65, I am going after the over 65 market, especially with the new plans coming out.

What I do is write both...T65's and those above 65. I've written 3 in the last 6 days above 65.

There's money....good money, to be made in both markets combined.

230+ policies is a good amount to write for a year. I'm nowhere near that amount. I would say I'm averaging about half that for a year. About 2-3 med-supps per week.

 

[vanquishV12]

Russ,

Do you do this part time then?

What I do is write both...T65's and those above 65. I've written 3 in the last 6 days above 65.

There's money....good money, to be made in both markets combined.

230+ policies is a good amount to write for a year. I'm nowhere near that amount. I would say I'm averaging about half that for a year. About 2-3 med-supps per week.

 

[Russ]

Russ,

Do you do this part time then?

No. Full-time job since Labor Day 1984.