How Do You Present Med Supp Value Over MA and $0 Premium?

[somarco]

The vast majority say they want "information" and education....but they aren't really seeking education. They want YOU to listen to Them.

You learn well, grasshopper.........

They want to learn.

They want to understand, especially if they are just T65.

They want to ask questions.

They want you to LISTEN and give them RESPONSIVE answer, not just a BS canned speech.

They don't want to become an expert, nor do they expect to be one.

They are looking to you to help them solve their problem and do it in the easiest way that fits their needs and their budget.

If you can do that you gain a client for life, not just a customer or another "deal".

And about Silver Sneakers .......... a few ask and I tell them it is available if they want to pay an extra $30 or so each month for a higher priced Medigap plan. Haven't had one yet that wanted it that badly.

 

[ballfan]

to the op You can't win, no matter what you lead with they figure you've got some angle. I sold a unh supp to a cancer patient in April (horrible pay) and his wife just switched him to medicare complete and enrolled herself with another agent and basically told me I was greedy! she dodged me for two months obviously thinking I'm the supp guy trying to rip them off!! All that stops me from fruiting out is that sooner or later, they will pay for their decision to treat me like a lowlife. in 5 to Ten yrs, When the average age of a mapd enrollee is much higher, these plans will explode. until then I will present both, but in a way that I can sleep at night!

 

[cladams]

I have no problem with giving an overview if *they want* an overview. Some people (far fewer than we think) are really interested in insurance plan structures.

Do your prospects want an overview?

Mine don't.

Most say they do. But they don't *really* want an overview when it comes down to it. They want the urgent care 2 miles from them to be in network, and they want their lantus at a good price at their favorite local pharmacy.

Oh. And when their friends talk about SilverSneakers over coffee at McDonalds, they don't want to be the only one without it even if they won't use it.

The vast majority say they want "information" and education....but they aren't really seeking education. They want YOU to listen to Them.

My $.02 worth about what you paid for it.

I am sure that you are successful, and that what you do works. I also plan to get the book you recommended. There is no argument against learning to ask probing questions - so I am aware that skill can always be honed.

I do find that my clients want an overview, because I sell them on the benefits of the overview. My clients appreciate the time that I take to help them understand, and they let me know.

 

[Mediguru]

I do find that my clients want an overview, because I sell them on the benefits of the overview. My clients appreciate the time that I take to help them understand, and they let me know.

I agree with many points of the previous posts. I am new to this forum but have worked with Medicare products for years. Your clients don't have to pass a test to enroll, so there is no need to bore them with every detail of every option. I have found success with a very brief overview of their two options - Med supp and MA. After that, you must let the client explain their needs, as many of you have stated.

Regarding the original question of selling Med supp when a client is interested in $0 prem MA - it comes down to math. While listening to the client's history (how many hospital stays, how often do they see their doctors, bloodwork, etc.) add up copays for the MA plan they may be interested in. In some states, the yearly Med supp cost (even for a plan F) will be much less than their OOP on an MA. This isn't the case always of course, but works for me!

 

[yogooglethis]

to the op You can't win, no matter what you lead with they figure you've got some angle. I sold a unh supp to a cancer patient in April (horrible pay) and his wife just switched him to medicare complete and enrolled herself with another agent and basically told me I was greedy! she dodged me for two months obviously thinking I'm the supp guy trying to rip them off!! All that stops me from fruiting out is that sooner or later, they will pay for their decision to treat me like a lowlife. in 5 to Ten yrs, When the average age of a mapd enrollee is much higher, these plans will explode. until then I will present both, but in a way that I can sleep at night!

If as a trusted adviser using scare tactics to try to sell med supps to every prospect ,regardless of their situation ,helps you sleep better than more power to you but FYI the average age of those on the original medicare is already higher than on MA .Also the risk pool for original medicare is worse than MA and will continue to decline as the high utilizers gravitate more and more to original Medicare .To compound this problem these folks who think it's necessary to have 6 different specialist on there speed dial also like to buy plan F which is like a turbo charger for utilization because now there is no consequence for the patient or the doctor for that matter to have unnecessary MRI's,colonoscopies etc.As a result original Medicare cost will start to spiral up because of the worsening risk pool then of course the cost medicare supplements will spiral up to cover the higher deductibles and co insurance amounts that will be imposed by CMS to keep the program solvent.

MA plans are unintentionally cherry picking because they are attracting the the younger and healthier members of medicare eligible population

 

[WCMason]

A word of unsolicited advice. Just stop it. Stop explaining both. You are wasting your time and theirs. Do a better job asking probing questions up front and present one option. The option that fits best with what THEY want. Do everything you can while asking your questions to "weed out" all other options. You'll enjoy your new freedom when you do this. Only time you should EVER discuss the other plan is when they ask, "my friend has "x" plan, is that any good?" Your response is simple: that is an option, but you told me that you wanted "x" and the plan you are in now fits better. Do you no longer want "X"? Hope this makes sense. ---------- Somarco recommended question based selling on the forum a while ago. I read it twice since then. It has helped me, I rarely lose out to a different agent/carrier. Huge time saver.

Nonsense. Not the probing part, but the idea that it's a poor approach offering multiple options and letting the prospect weigh the pros and cons of those options, ask and answer questions about each, and help them make an informed decision after discussion about each. Not challenging that success can be achieved with the method you described, just the idea that it can't be achieved by explaining both, or that doing so is a waste of time. I've always explained all options--as many others have--with just as much success, maybe more. I've had so much success explaining all options I'd never consider any other way, and also rarely lose out to another agent.

 

[aheff]

A word of unsolicited advice.

Just stop it.

Stop explaining both. You are wasting your time and theirs.

Do a better job asking probing questions up front and present one option. The option that fits best with what THEY want.

Do everything you can while asking your questions to "weed out" all other options.

You'll enjoy your new freedom when you do this.

Only time you should EVER discuss the other plan is when they ask, "my friend has "x" plan, is that any good?" Your response is simple: that is an option, but you told me that you wanted "x" and the plan you are in now fits better. Do you no longer want "X"?

Hope this makes sense.

----------

Somarco recommended question based selling on the forum a while ago. I read it twice since then. It has helped me, I rarely lose out to a different agent/carrier.

Huge time saver.

We all have our own selling techniques. I would never just review just MA or MS. For me, on many levels, this approach makes no sense at all.