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Good choice in deciding to work with seniors. We are on the brink of a huge explosion starting June 2010 in Medicare Supplement sales.
Begin now positioning yourself to take advantage of it. Find the top three competitive companies in your state and get licensed with them. Take a look at your existing clients and identify those either on or soon to be on Medicare.
Go through all of your leads and prospects as well. The new Med Supps are going to be a lot more attractive to seniors with HMO's. I believe they will be competitively priced with HMO's and seniors will have a choice of doctors and hospitals the way those with a Med Supp do now.
I
InsAgent007
Guest
New age advertising isn't as effective with seniors. Avoid things like internet advertising, email, and text advertising.
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This might be a joke, not sure. I don't know if you work the senior market, but let me assure you that Ma and Pa know how to use the "world-wide Interweb" (as some of my clients call it). Not only do they know how to use it, but on an ever-increasing basis, that's where they turn for insurance rates/information/purchases.
- 1,328
Surely you jest... I can show you article after article, statistic after statistic indicating that the "senior crowd" (55-74) is the fastest growing segment of online use.
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- 7,066
I agree. I have seen a substantial increase in seniors who live "in town" using the internet, however, those who live in the country do not appear to have caught up to their city cousins yet.
It is still pretty common for a son or daughter, who has been to my website, to call me on behalf of their parents to get info on Medicare Supplements. For seniors 70 and above, I receive more calls from their children than I do from the seniors themselves.
I think what is more significant, and ties in with what Joshril is saying, is that each year I'm selling more and more Med Supps over the phone. Again, mostly to seniors under the age of 70.
I believe that is a direct result of seniors using their computers and being better educated about Med Supps. Having that knowledge makes them more comfortable doing business over the phone. Based on the current trend I would guess that within five years most Med Supps will be sold over the phone.
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In a word, no. It would be political suicide to start messing with Medicare at this time.
What is going to make a huge difference in Med Supp sales are the new Standardize Medicare Supplement plans that go into effect on June 1, 2010.
Unlike the changes being proposed in health insurance, the changes Medicare is making is going to make Med Supps much better for seniors and a lot easier to sell for agents.
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I disagree. Health Care reform may have a profound effect on Medicare. Currently, there is no cap on the out of pocket for Medicare. The 20% goes on forever. The hospital deductible can be applied 6 (actually 7) times a year.
Obama wants a limit to the out of pocket that an insurance company can charge and I assume, the same would apply to a public plan.
It would not be fair that a 64 year old has a cap but a 65 year old on Medicare does not. I suspect the cap will apply to all rendering Med Supps next to worthless.
Rick
Obama wants a limit to the out of pocket that an insurance company can charge and I assume, the same would apply to a public plan.
It would not be fair that a 64 year old has a cap but a 65 year old on Medicare does not. I suspect the cap will apply to all rendering Med Supps next to worthless.
Rick
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This definitely makes sense. Touching Medicare for the worse would cause dissent amongst seniors and be political suicide. But improving Medicare... totally different. As mentioned above, there is no way seniors will stand for a worse plan than underage people.
Hadn't really thought about his, but it definitely looks bad for health agents across the board.
