Am Considering Selling Medicare Plans, Do You Think Its Worth It?

[matilda654]

A local agency is advertising for insurance agents to sign up with them to get certified to sell Medicare plans this coming October which I am considering. My question is for those of you who are knowledgeable in this area.

Do you think it is worth my time and effort to get all my certifications, etc. so that I will be able to sell by this enrollment period? The agency said I will be paid $400 for new applications and $200 for switching an existing Medicare plan to another and that I will be paid renewals as long as I am contracted with the insurance carrier. This will be my sole income. It seems they will provide training and mentorship.

Is there anything that you suggest I make sure and consider before signing a contract to work with this agency?

Thanks in advance for your advice.

 

[ctg]

It depends on what you're going to sell and the certifications that the carrier requires. Time may not be on your side 1 month out. Nothing says you have to be completely set Oct 15, but it will cut down on productivity if you're not.

You can get AHIP done in 4-5 solid, dedicated hours. Nighttime, weekend, whenever. The carriers will most likely require you to do their own certification as well. Mostly on line, but it still takes some time. Humana requires a face to face training.

Many agent don't want to go through the hassle and simply don't sell MA's/PDP's. I don't have that luxury yet. I'm going through all this to build my book.

And keep in mind that you'll have to recertify to get renewal commissions...

 

[GreenSky]

The most important thing is to be sure 1) commissions are paid by the carrier and 2) the FMO will release you upon request.

Rick

 

[midwestbroker]

I second Rick and will ad:

Who are you going to sell to? I know Medicare beneficiaries, but what is your plan to get in front of them?

 

[Josh]

A local agency is advertising for insurance agents to sign up with them to get certified to sell Medicare plans this coming October which I am considering. My question is for those of you who are knowledgeable in this area.

Do you think it is worth my time and effort to get all my certifications, etc. so that I will be able to sell by this enrollment period? The agency said I will be paid $400 for new applications and $200 for switching an existing Medicare plan to another and that I will be paid renewals as long as I am contracted with the insurance carrier. This will be my sole income. It seems they will provide training and mentorship.

Is there anything that you suggest I make sure and consider before signing a contract to work with this agency?

Thanks in advance for your advice.

Where will you be getting your leads?

 

[senior-advisor-indiana]

Where will you be getting your leads?

I have found cold calling to be the most effective for MA plans...

 

[Josh]

I have found cold calling to be the most effective for MA plans...

You're still broadcasting 1-800-MEDICARE on the caller ID, right? Works like a charm.

 

[senior-advisor-indiana]

You're still broadcasting 1-800-MEDICARE on the caller ID, right? Works like a charm.

This is best to have a marketing plan that no one else is doing.

 

[Josh]

This is best to have a marketing plan that no one else is doing.

Seriously. Why didn't Medicare think of this? It's brilliant!

 

[matilda654]

Where will you be getting your leads?

It's my understanding they will have a booth set up in a mall, i believe they said they may also have one in a Walgreens and show us how to approach doctor's offices and senior centers.

I have been without work for 5 months now, no income coming in, and am wondering if I will be able to make enough money to pay my basic bills, being I am starting out new or if I might be better off finding a job that pays a regular salary?

From some of the information I have read over the past couple of years, it seems that selling Med plans is much more complicated than it used to be and that there are so many restrictions in place now as far as approaching the seniors, cross selling, etc. I will have to make a decision pretty quickly here, if I am going to try and get all my certifications, E&O insurance, etc.
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I have found cold calling to be the most effective for MA plans...

I thought I heard that you can no longer cold-call on seniors
to try and sell med plans?