Re: Is Medicare Supplement Sales Seasonal?Go to Top
Originally Posted by Frank Stastny
Yep, you got that right. It is best either on the rocks or with a little tonic and a huge squeeze of orange.
Frank,
What would be the best place for someone in Florida to get the edumacation on the med supps? Also what would be the best companies to sell in florida. I threw a bunch of money in the trash because I thought it was seasonal except for those turning 65.
Re: Is Medicare Supplement Sales Seasonal?Go to Top
Originally Posted by insagentmike
Frank,
What would be the best place for someone in Florida to get the edumacation on the med supps? Also what would be the best companies to sell in florida. I threw a bunch of money in the trash because I thought it was seasonal except for those turning 65.
I really don't know anywhere an agent can go to get really good training regarding Med Supps. That is why I started offering it to members a while back. I have been training agents to prospect for and sell Med Supps for a long time and have recently trained several on the board.
The "best companies" will vary from state to state. The best ones in Missouri may suck in Florida. Contact the Florida DOI and ask for a list of companies and their rates. I can get a list like that from the MO DOI. I assume Florida will have something similar.
The "best ones" are going to be the ones that are the most competitive.
Re: Is Medicare Supplement Sales Seasonal?Go to Top
Originally Posted by insagentmike
What would be the best place for someone in Florida to get the edumacation on the med supps? Also what would be the best companies to sell in florida.
[COLOR=blue]I'm in Florida, and have done extensive research and planning on this over the last 9 months or so. Send me a PM and I'll be happy to help if I can![/COLOR]
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[COLOR=blue]Don't steal - the government hates competition.[/COLOR]
Re: Is Medicare Supplement Sales Seasonal?Go to Top
Originally Posted by Frank Stastny
I really don't know anywhere an agent can go to get really good training regarding Med Supps. That is why I started offering it to members a while back. I have been training agents to prospect for and sell Med Supps for a long time and have recently trained several on the board.
The "best companies" will vary from state to state. The best ones in Missouri may suck in Florida. Contact the Florida DOI and ask for a list of companies and their rates. I can get a list like that from the MO DOI. I assume Florida will have something similar.
The "best ones" are going to be the ones that are the most competitive.
Call if I can help.
I'd like to get in on that training. Word is that you are the man for med supps. Living in Florida with all the seniors retiring here I would be stupid to walk away from that business.
Re: Is Medicare Supplement Sales Seasonal?Go to Top
Originally Posted by insagentmike
I'd like to get in on that training. Word is that you are the man for med supps. Living in Florida with all the seniors retiring here I would be stupid to walk away from that business.
Give me a call. Selling Med Supps is the same nation wide.
Re: Is Medicare Supplement Sales Seasonal?Go to Top
Originally Posted by Frank Stastny
Selling Med Supps is the same nation wide.
Based on the extensive research and testing I've done over the last six months, I've got to respectfully disagree.
There are HUGE regional variations - just here within the state of Florida!
We have a diverse (some rural, some urban) collection of markets. Miami and Jax are not just a bunch of miles apart geographically!
In some markets, if you don't do MA, you're gonna starve. Conversely, med supps do better in other areas.
Marketing is the area of greatest importance. You can have all the product knowledge in the world - but if you've got nobody to do it to...
My tests have confirmed that you need a plan of three or four different marketing methods for it to work. I know you've had success in phone cold calling, but the testing here in Florida shows as a sole prospecting method, unless you have three or four people calling all day - you're gonna starve!
The "contact ratio" (answering the phone) Florida-wide has only been 9%! Nine out of a hundred, averaged from the hours of 8AM to 8PM. Not much variation from hour to hour (although 8-10AM does a little better). Lots of wasted effort, and not at all efficient. As a part of your plan that's OK, but if it's all you do - you'll meet lots of frustration - and end up broke!
Moral of the story...
For maximum success, whether you're in Winnemucca, Nevada, or Weeki Wachee, Florida, there is no substitute for knowing your local market through testing and measuring!
Re: Is Medicare Supplement Sales Seasonal?Go to Top
Originally Posted by moonlightandmargaritas
In some markets, if you don't do MA, you're gonna starve. Conversely, med supps do better in other areas.
My comments are directed to selling Med Supps only, MA plans are not mentioned in the title of this thread. I thought that is what we were talking about. I have stated many times in the past that Med Supps are most successfully sold in rural areas, not large metro areas where HMO's are predominate.
At least that is the way it has been in the past and is still that way presently. However, when PFFS plans go away, the govt stops subsidizing HMO's and Medicare releases Plans M & N I believe we are going to see a huge shift in sales in all areas of the country.
For a whole host of reasons Med Supps are going to be a lot more attractive to people in urban areas where HMO's have dominated for the past several years.
Doing my own telemarketing, the way I do it, has consistently, both in the past and present been the most successful way to sell Med Supps. In the last sixteen years I have tried it all. If one can think of a way to market Med Supps I have probably done it at least twice.
The agents I have trained, not just in Missouri, are having success doing it the way I do it. It is difficult for me to understand that seniors in Florida are so much different than they are in other parts of the country.
I don't doubt your findings but it just seems very strange to me. Maybe the difference is in the way I do it as opposed to the way your people are doing it.
All of the testing and the figures and percentages are very interesting. I have never kept track of such things because it isn't important to me. I know what is proven to be the most successful, most efficient and economical way to sell Med Supps and everytime I have dieveiated from that my salse have not increased, on the contrary, they have decreased.
I have both good weeks and bad weeks. That is the nature of this business. However, at the end of the year I generally reach my goal of writing one app a day that "stays on the books". That will translate to about $75,000 per year in commission. Not bad production when you add renewals from previous years.
Re: Is Medicare Supplement Sales Seasonal?Go to Top
Originally Posted by Frank Stastny
My comments are directed to selling Med Supps only, MA plans are not mentioned in the title of this thread. I thought that is what we were talking about. I have stated many times in the past that Med Supps are most successfully sold in rural areas, not large metro areas where HMO's are predominate.
At least that is the way it has been in the past and is still that way presently. However, when PFFS plans go away, the govt stops subsidizing HMO's and Medicare releases Plans M & N I believe we are going to see a huge shift in sales in all areas of the country.
For a whole host of reasons Med Supps are going to be a lot more attractive to people in urban areas where HMO's have dominated for the past several years.
Doing my own telemarketing, the way I do it, has consistently, both in the past and present been the most successful way to sell Med Supps. In the last sixteen years I have tried it all. If one can think of a way to market Med Supps I have probably done it at least twice.
The agents I have trained, not just in Missouri, are having success doing it the way I do it. It is difficult for me to understand that seniors in Florida are so much different than they are in other parts of the country.
I don't doubt your findings but it just seems very strange to me. Maybe the difference is in the way I do it as opposed to the way your people are doing it.
All of the testing and the figures and percentages are very interesting. I have never kept track of such things because it isn't important to me. I know what is proven to be the most successful, most efficient and economical way to sell Med Supps and everytime I have dieveiated from that my salse have not increased, on the contrary, they have decreased.
I have both good weeks and bad weeks. That is the nature of this business. However, at the end of the year I generally reach my goal of writing one app a day that "stays on the books". That will translate to about $75,000 per year in commission. Not bad production when you add renewals from previous years.
Thank you for taking the hour today, you pointed me in some great directions on where to take my business and how to prospect for it. You rock man!
Re: Is Medicare Supplement Sales Seasonal?Go to Top
Originally Posted by Frank Stastny
I have stated many times in the past that Med Supps are most successfully sold in rural areas, not large metro areas where HMO's are predominate.
So what do agents do that are in urban areas? Not write any business?
However, when PFFS plans go away, the govt stops subsidizing HMO's
There may be less of a subsidy, but MA plans aren't going away totally. Too much political backlash! Seniors vote like mad...
In the last sixteen years I have tried it all. If one can think of a way to market Med Supps I have probably done it at least twice.
Not all marketing is created equal. Many people conclude that various marketing methods "don't work", when the reality is that their marketing is stinky! (not saying this is the case with yours)
It is difficult for me to understand that seniors in Florida are so much different than they are in other parts of the country.
For one thing, many of our seniors here in FL are part-time residents and go north for the summer. That's a huge difference. Trying to market to them in the summer months is an exercise in futility - they're not here!
I don't doubt your findings but it just seems very strange to me.
Not sure there's anything to doubt. I started it with no pre-conceived notions - the results, as they say, "are what they are".
All of the testing and the figures and percentages are very interesting. I have never kept track of such things because it isn't important to me.
I think you may be (well not you, but results!) atypical. If you've got the luxury of a big, mature book such as you do, it's a lot easier. Not all of us have that advantage however, and are starting from a different, more competitive place.
In terms of measuring your marketing, there is nothing more critical to success. Without it, there is no way to test, measure, adjust...and improve it!
Re: Is Medicare Supplement Sales Seasonal?Go to Top
Originally Posted by moonlightandmargaritas
So what do agents do that are in urban areas? Not write any business?
There may be less of a subsidy, but MA plans aren't going away totally. Too much political backlash! Seniors vote like mad...
Not all marketing is created equal. Many people conclude that various marketing methods "don't work", when the reality is that their marketing is stinky! (not saying this is the case with yours)
For one thing, many of our seniors here in FL are part-time residents and go north for the summer. That's a huge difference. Trying to market to them in the summer months is an exercise in futility - they're not here!
Not sure there's anything to doubt. I started it with no pre-conceived notions - the results, as they say, "are what they are".
I think you may be (well not you, but results!) atypical. If you've got the luxury of a big, mature book such as you do, it's a lot easier. Not all of us have that advantage however, and are starting from a different, more competitive place.
In terms of measuring your marketing, there is nothing more critical to success. Without it, there is no way to test, measure, adjust...and improve it!
PS-I love YIO. I'm a big fan!
Thanks for the kind words about YIO.
This really isn't the best place, because one has to type as opposed to speaking, to really discuss this subject. It is too involved and there are too many variables.
I look forward to being able to talk to you over the phone about this as opposed to just typing.
Re: Is Medicare Supplement Sales Seasonal?Go to Top
Originally Posted by Frank Stastny
and a huge squeeze of orange.
You just had to mention orange and the next think ya know there's a heated battle going on with these people from the Sun-Shine-State vs. the Show-Me-State.
He's a man on a mission
Wild as a ricochet
Picture if you can when the Everglades ran
From the Gulf Coast to Biscayne Bay
He's gonna give it back to the gators
Lock the tourists up in theme parks and zoos
He says join me for lunch at the reptile's brunch
Where the barometer soup is you
He's crazy and dangerous
But who else can you trust
He's the outlaw in all of us
The environmental terrorist
You can mess with that mouse in Orlando
Jilt a tourist in St. Augustine
You can shoplift all day at Blockbuster
But you can't steal the Orange Bowl Queen
No you can't steal the Orange Bowl Queen
Re: Is Medicare Supplement Sales Seasonal?Go to Top
Originally Posted by MedSuppPro
You just had to mention orange and the next think ya know there's a heated battle going on with these people from the Sun-Shine-State vs. the Show-Me-State.
I don't think there is a "battle". I don't believe that he does either.
He looks at it with his head cocked to the left, I look at it with my head cocked to the right.
No that is NOT a political statement. Just a different way of looking at it.
There is more than one way to do everything. It's just that my way is the right way.
Re: Is Medicare Supplement Sales Seasonal?Go to Top
I completely agree with Moonlight.
You must learn your areas and market appropriately.
Even though I am a newbie to insurance, I've been a Business Analyst for over 16 years which has been extremely helpful in identifying ones needs and offering various solutions to address them.
Currently I am a captive agent (looking to change that ASAP and started by contacting Ritter to become appointed as quickly as possible) and my current manager has always believed in calling as a main solution. I quickly realized the area I was "calling" were T65 that were still working, so the requested call time of 8 am - 5 pm M-F was disastrous. Taking the initiative to see when people would be home was based on door knocking various time during the day and had a 10 fold increase after 5 pm as most were coming home from work.
Second, I was taught (incorrectly) that Med Supps are the best product. The best product is the one that fits your clients needs, which will be based on the area you are targeting. 60% of my prospective clients can only afford an MA plan, so I am losing them as clients as I have no MA product to sell them (another reason why I looking to become an independent agent).
The posts I have read here have been nothing but helpful and I am sure if you take the time to digest all of it, nothing terrible will come from it...
All the best to your future successes in life and your insurance career.
Re: Is Medicare Supplement Sales Seasonal?Go to Top
Originally Posted by maleman2045
I completely agree with Moonlight.
You must learn your areas and market appropriately.
Second, I was taught (incorrectly) that Med Supps are the best product. The best product is the one that fits your clients needs, which will be based on the area you are targeting.
GREAT POST!!! Welcome to the Senior Insurance Form.
You may be a newbie, but, you're understanding of the Florida market is spot on... For over 15 years I've sold MediPlans in FL. Anyone who can't recognize FL's diverse market is obviously outside of Florida. And why walk away from 60% of your potential market?
Florida is seasonal and the market is very diverse.
I completely agree with Moonlight & maleman!
NOTE: I have never looked at YIO and as a "tool" it may be the best thing since sliced bread. My post above has nothing to do with Frank, nor his YIO "FREE" services.
Re: Is Medicare Supplement Sales Seasonal?
It is best either on the rocks or with a little tonic and a huge squeeze of orange.
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