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Medicare officials have begun sending letters trying to nudge seniors out of the 26 medical and private drug plans that have performed with either a "poor" or "below average" rating from CMS in the last three years. The letter reads, "We encourage you to compare this plan to other options in your area and decide if it is still the right choice for you." Approximately 375,000 Medicare Advantage and 150,000 drug plan members have received this notice.

This is the first time Medicare officials have made an effort to warn beneficiaries about their medical and private drug plans while still allowing the companies to remain operational. They are, however, encouraging people to sign up with different companies other than the 26 plans falling "below average." On Medicare’s finder website those plans are not only marked with a warning sign but are not available to sign up electronically and force the senior to contact the insurance company directly in order to sign up for the plan. Also, in the future, some of these plans may be canceled if their company continues to perform below standards.

Isabella Leung, a Medicare spokeswoman said "We want to make it easy for beneficiaries to find and select the highest quality plans, and discourage people from staying in chronically low-performing plans." However, Robert Zirkelback, a spokesman for America’s Health Insurance Plans, argues that the letter to beneficiaries is premature because the rating system is flawed. He sites that the rating does not take into account plans serving a disproportionate number of seniors who have chronic illness or special needs or who live in otherwise medically underserved areas. He urges, "It’s important to make sure we get the measures right before we move on to these other steps."

Medicare officials understand that some seniors will simply ignore the warning, especially if they are satisfied with their plan, or if the price aligns with their income and their network of doctors. Leslie Fried, director for policy and programs at the National Council on Aging sums up, "If people are satisfied with their plan and it is currently contracted with CMS, isn’t that a decision they should be allowed to make?"

Source: Kaiser Health News

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With just over two weeks until the Annual Election Period (AEP) starts on October 15, now is the time to check your portfolio, get certified, and solidify your business plans. AEP is the busiest season for Medicare sales, so it is important you are ready to meet the needs of your prospects and clients. Here are a few things to remember while you keep on track during the season:

• Check your portfolio – Several rate increases have taken place in the last few months. Now’s a great time to look into the specifics of each product in your area and determine if you have the most competitive in your portfolio. Having a variety of Medicare Supplement, Medicare Advantage, Final Expense, and Hospital Indemnity options will be beneficial to reaching all of your different prospects.
  
  
• Take your certifications – Check out our Medicare Advantage/PDP Certification page for detailed instructions on how to certify with each of the Medicare Advantage products you are licensed to sell. If you have any other questions or concerns during the process please call your marketer at 1-800-998-7715 for more information. With the exception of United Healthcare there are no certification requirements for standardized Medicare Supplement products.
  
  
• Solidify your business plan - How do you plan to prospect and reach clients during AEP? Now is the time to decide. Maybe you’re taking advantage of the PSM Retail Pharmacy opportunity, hosting an informational event, or you purchased internet and mail leads. Now is the time to make sure your business plan is ready and confirm the details. Please also make sure you are compliant with the 2013 CMS Marketing Guidelines.

Precision Senior Marketing will be here to support all of our agents during the Annual Enrollment Period. If you have any questions or concerns, please contact your marketer today at 1-800-998-7715 and they will be happy to assist you.

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If your sales aren't as high as you’d like them to be, it might be time for a new perspective. Whether you've encountered situations you haven't dealt with before, or ones that change midway through the sales conversation, a new perspective can help you manage the change.


Here are some questions to ask yourself:

• Are you visiting/talking to enough clients and prospects? Are you being proactive and keeping your activity high? Determine your customer contact time as a percentage of your total working time. Although, remember not to confuse movement with action.
  
  
• Are you talking to the right people? Consider how your cold-calling strategy and any leads you are purchasing are working for you. What is the rate of return on your investment? Are you speaking with turning 65 leads or older seniors looking to switch plans? Also, make sure you are speaking with the decision maker in the household. Some seniors may prefer you speak to their spouse, caretaker, or child.
  
  
• Are you saying/doing the right things? Are your sales skills up to par? If not, look into taking a course or seeking out advice from someone you admire as a mentor. You can also talk with your marketing representative at PSM, who have sales scripts, tips, and techniques that can help guide you to fulfilling your sales goals.
  
  
• What is your predominant attitude? As cliché as it sounds, your attitude on each call is a small thing that makes a big difference. It sets the tone and drives the call. Are you excited about your product? Find an angle, and be aware that you will drive your sales with it.

When you look at these problems from a different perspective you will find you can increase your sales, improve your approach, and find creative ways to solve the problem you are struggling with.

Please give us your feedback!
What have you done to change your prospective in your business? How did it affect your closing ratio? What advice do you have for other agents who might be struggling?

Source: LifeHealthPro

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Most agents have at least a few prospects they have worked with but for one reason or another did not close. There are several different reasons that prospects can "go cold", and these prospects often end up in files out of sight and mind. Since leads are a business investment it is important to get your money’s worth and gain every new client you can from them. Therefore it is a good idea to look through those prospects in two months, five months, or even a year later and see if there is any way you can revive them with either a new approach or new product option now available in their area. With further product knowledge, education, and experience you can work to turn those "cold case" prospects into clients.

Sometimes cases can go cold when the client does not have a clear understanding of what they need from their supplemental insurance or they are not currently ready to purchase a plan. For these prospects, contact them closer to their sixty-fifth birthday and point out specific products and benefits based on their health and financial needs. Perhaps the client was only shopping at the time you last spoke and now they are ready to decide on a plan.

Another reason a prospect can go cold is if the client does not understand the underwriting process, especially if they have a medical condition that might make it more difficult. Also, the client must be comfortable with the cost of the plan that fits their needs. If in the past you didn’t have a plan in your portfolio within their budget, be sure to revisit their files whenever you add additional products. That way, when a new product comes out with a lower monthly premium or less stringent underwriting, you can contact those clients and improve their coverage and/or reduce their cost. Clients will be impressed by your thoroughness to find a plan to fit their lifestyle and word of mouth spreads quickly among senior communities.

Be sure to revisit your cold cases periodically in order to identify the ones that can be saved. With every new prospect you speak with you are further developing your sales strategy, and adding additional products can change your senior insurance portfolio to accommodate that prospect’s needs. For more tips and suggestions please contact your marketing representative who can guide you through the process and suggest additional products that will cover more prospects financial and health needs.

Please give us your feedback!
What do you do to revive "cold cases" in your business? Do you have any success stories? Any advice to agents who are just getting started in the process?

Source: Agent's Sales Journal

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Just a reminder, the Annual Enrollment Period (AEP) has been moved up this year and started October 15 and goes through December 7. During this time your clients will be able to switch their Medicare plans, effective January 1, 2012. Make sure you are prepared to meet their needs and the demands at the height of the season. Following are a few tips to keep you on track during AEP.

• Make sure your certifications are up-to-date for 2012. With Medicare Advantage plans you need to certify every year. If you would like instructions on how to do so for each company please call your marketer at 1-800-998-7715. With the exception of United Healthcare, there are no required certifications for standardized Medicare Supplement product.
  
  
• Electronic applications. The Sentinel Life E-App was released a few weeks ago, and E-Apps are also available with Mutual of Omaha and Universal American Medicare Supplement products. Electronic applications are available around the clock and allow for less mistakes and quicker processing times.
  
  
• Underwriting. When not using an electronic application, it is vitally important that you are very thorough in your field underwriting with paper applications. These apps are getting a bit more complex every year and with the volume of sales that come through during this period, nothing will delay your issue times more than submitting incomplete applications. This bogs your business down, frustrates your clients, and prevents you from utilizing time spent cleaning up apps to prospect for new clients.
  
  
• Identify the best rates. Several companies took increases in multiple states in the past few months. Plan ahead and check out which company has the most affordable rates in the areas you plan to prospect. To review who has the best rates in the states you sell, contact your marketer at 1-800-998-7715 for details.
  
  
• Distribute marketing materials. Senior centers, churches, and other public spaces where seniors often go in your community are wonderful places to put some of your personalized brochures. These have your name and number and offer additional information to educate interested seniors. You can also mail lead cards using a very affordable mailing list generated from USA Data.
  
  
• Request referrals. Now is the ideal time to see if your happy clients know anyone going through the AEP season. They might have friends and family who are confused and overwhelmed, looking for an agent who can help educate them on the best plans for their health and economic means. Don’t miss out on this opportunity!

Precision Senior Marketing will be here to support all of our agents during the Annual Enrollment Period. If you have any questions or concerns, please contact your marketer today at 1-800-998-7715 and they will be happy to assist you.

Please give us your feedback!
How has the AEP season being going for you so far this year? Do you plan to change anything going forward? Do you have any tips for those in the midst of their first season?

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As a senior market agent, it’s important for you to understand the best products for your clients as they age and experience retirement, income changes, and death of loved-ones. Younger seniors, older seniors, high and low income seniors all have different needs and it is your responsibility to understand them and choose the products from your portfolio to fit their needs best. These strong relationships will result in more referrals and assure the longevity of your business.

Here are five main senior-types to consider:

1. Young Seniors – These seniors are just reaching their Medicare eligibility and being bombarded with options to consider for their health and economic futures. The process is often confusing, so it is important to take time with these clients, find out their plans for the future, and choose the products right for them. For those ready to travel and do the things they couldn’t do when they were responsible for raising a family, a Medicare Supplement might be the best option. For those who are happy to stay at home and within a network, Medicare Advantage might be the right fit. It’s also important to review their retirement income and begin discussing annuity options, which will provide guaranteed income for as long as they live.
   
   
2. Older Seniors – For those aged 90 and up qualifying for insurance plans will be significantly more difficult. For these seniors it is important to review their portfolio and make sure all of their beneficiaries are correct and their investments are risk free. Review their supplemental insurance plan to see if there may be a better fit, especially in states like New York and Connecticut where there is no medical underwriting on Med Supps.
   
   
3. Low-Income Seniors – Start by reviewing their financial situation and confirm they are signed up for the best Medicare (and Medicaid, if necessary) plan. Also, many states have programs to help pay for their medications, so look to see if they qualify for that assistance. For a low income senior it is more about asset accumulation than asset protection.
   
   
4. High-Net-Worth Senior – If your client has assets over $1 million often times you will find you need to partner with other financial professionals like tax attorneys and CPA’s in order to insure all of the client’s financial bases are covered. For these clients you are working to protect their assets and insuring their returns are consistent.
   
   
5. Widowed Senior – For those who have recently lost a spouse it is important to make sure they have secured the benefits they are entitled to in their spouse’s death, and then work with them to develop a spending and asset protection plan. It is especially important to discuss long term care or short term care insurance with them, as they may not have any family nearby and should be protected in case they should need assisted care.

With all seniors it is important to be flexible and present the products that will work best for their individual needs. By customizing each client’s portfolio to fit their specific needs you are gaining clients who will be confident in your ability to adapt as their needs change.

Please give us your feedback!
Do you work with a variety of senior's in a variety of health and economic situations? What helps you customize each plan for them specifically? Or, do you prefer to prospect with one specific type?

Source: Agent's Sales Journal

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MedAmerica Insurance Company is a subsidiary of a $5 billion not-for-profit health care company that finances and delivers health care to more than 2 million people. MedAmerica has been focused exclusively on providing financial solutions for chronic care situation since 1987. Known for their hassle-free service, strong financial performance, and commitment to improving aging adult’s quality of life, MedAmerica is now offering a new product called Transitions Short Term Recovery Care Insurance.

Short Term Care Insurance is made for when your client’s fall into a difficult time, whether in a nursing home, assisted living, or home care. It allows time for planning and making critical financial decisions between the incident and Long Term Care, if deemed necessary. This product was created specifically for your Baby Boomer clients; it is an innovative product that brings peace of mind to their families in times of crisis.

The Transitions product pays for daily charges up to a capped amount determined by the policy and also has a lifetime pool of money which can be restored after 180 days of not needing care. It offers an inflation option and has a waiver of premium, 21 day bed reservation, or 14 day respite care benefit if necessary. Plus, there is a 10% discount for clients with a spouse or domestic partner, regardless of whether one or both apply for coverage.

The policy also includes the MedAmerica MyCare Program, an optional program available at the time of claim that may not be necessary if the insured has a Long Term Care policy. MyCare provides expert advice, quality care assurance, and enhanced family connection. This benefit is paid out of the lifetime maximum pool, is up to 6 times the daily benefit maximum. The insured can access this when he or she is eligible for receiving payment of benefits.

Transitions has an easy design, process, and application. The application questions are Yes/No with quick underwriting leading to a much shorter decision period. Also, nine month advancing is available. Make sure your portfolio has this option available for when your clients request it.

PSM is excited to launch MedAmerica Transitions Short Term Care Insurance. Give your marketer a call today to get contracted.

Please give us your feedback!
Have you sold a Short Term Care product in the past? What tips do you have for those just looking to expand their business to include it?

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Annual Enrollment Period (AEP) starts early this year on October 15 and goes through December 7 for business that will become effective January 1, 2012. During this time your clients will be able to switch their Medicare plans. AEP is the height of the Medicare season, and with the summer winding down this weekend now is the time to start really focusing on preparing for the season. Have you taken your Medicare Advantage certifications or requested 2012 materials? Do you have a clear cut marketing strategy? Do you have all the products you need in your portfolio? If you said yes you are ahead of the game. If not, check out this checklist to ensure you have a successful AEP season.

Annual Enrollment Checklist:

1. Complete Certifications – For Medicare Advantage products you need to recertify ever year. It will help you brush up on product idiosyncrasies as well as the conversion rules regarding replacement of Medicare Advantage business with Medicare Supplement. If you need instruction on how to complete certification for the carriers you represent, please call your marketer at 1-800-998-7715.
   
   
2. Request Supplies – Request supplies from your PSM marketer now to prevent multiple week delays that could occur once AEP starts and the company gets bogged down by requests. Requesting in advance will ensure you have the materials you need in order to start right away recruiting and servicing your clients on October 15th.
   
   
3. Plan your Marketing Strategy – Are you hoping to host an event? Mail marketing materials? Complete your website? Identify the marketing goals you want to achieve before the season starts and set a timeline to encourage yourself to complete the tasks on time. Actualize your goals with a well executed marketing plan and see your sales benefit.
   
   
4. Identify the best rates – With rates changing year to year it is a good idea to identify the product with the best rates in each of the areas you will be prospecting during AEP. With an easy-to-read chart you can save time by quickly identifying the best rate associated with the plan that best serves your clients’ needs.
   
   
5. Diversify your Portfolio – Have you considered taking on other senior products in order to diversify your sales? For example, Forethought Life and Sentinel Life eeach offer a Combo App allowing you to write a Medicare Supplement and Final Expense policy on the same application thus enhancing your sales and commissions. PSM specializes in Medicare Supplements, Final Expense, Long Term Care Insurance, and Annuities to ensure that our agents have a diversified portfolio to meet the needs of their senior clients.

Don’t let October 15th catch you by surprise; take time to prepare your business to accommodate the clients who will be requesting information and new plans. Contact your marketer at 1-800-998-7715 with any questions, concerns, or products you need to add to your portfolio. Here’s to a successful and profitable AEP.

Precision Senior Marketing will be closed Friday, September 2 after 12:30pm and Monday, September 5 for the Labor Day holiday. Regular 8am-5pm CDT hours will resume Tuesday, September 6. We wish you and your loved ones a happy holiday. We appreciate your business and the opportunity to serve your needs.

Please give us your feedback!
What are you doing to prepare for AEP? What have you done in the past to ensure your success? Do you have any tips for those who may be experiencing their first season?

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A few months ago, Google introduced their +1 system; you might have seen the new buttons appear next to your search results recently and wondered what it is and how it can help your business. Google +1 is similar to Facebook "Likes", it is a way for your clients to publicly show to their friends and family that they like and recommend you, which can help promote client referrals.

Also, there are signs that Google +1 will affect organic rankings as well. Google +1 allows Google to own a primary source of data, not rely on secondary sources, and these social cues become a core part of the search experience. Websites with a +1 button receive as much as three times more exposure on the Google+ network.

If you’re one of our valued senior market agents and enjoy working with Precision Senior Marketing, let us know by logging into your Gmail account and clicking the +1 button on our homepage @ Precision Senior Marketing.


Example of how Google’s +1 feature can help your business:
A friend of your client might search for Medicare Supplements in your hometown, see that their friend +1'd you, and give you a call or fill out the form on your website because of it. Same can happen between complete strangers, as trust will be instilled by knowing that other people have used your service and have seen success with your brand. Once you have a working relationship with your clients, it would be beneficial to ask them to go to your website and click “+1” for you. It’s an innovative way to continue to grow your business online.

Please give us your feedback!
Do you have the Google +1 button on your website? Do you plan to get it? How do you think the +1s will affect Google organic rankings?

Source: Search Engine Watch

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Once you decide to go out on your own and establish your business, creating an overall marketing strategy for converting leads and keeping your clients happy is essential. These 7 steps are part of the "Perfect Customer Lifecycle," creating a simple way for businesses to develop a marketing plan and grow their business with targeted communication and an effective lead management system.

The 7 steps to transforming your business are:

1. Attract Traffic –The offer of a free quote or a great source of information will attract more traffic to your website. This content will also act to raise your brand value and generate leads. This can be achieved through Search Engine Optimization, Pay-Per-Click, AdWords, Facebook Ads, and via social media websites.
   
   
2. Capture Leads – Web forms are an excellent way to hear from leads who want more information on your services. To capture these prospects, make sure your content is compelling, your form does not require too much initial information, and your site is trustworthy.
   
   
3. Nurture Prospects – Be consistent in following up with your leads and set a frequency expectation on when you will contact them. Also, determine how you can customize each of your communication methods, whether it is email, direct mail, or any other methods. By coming up with a sequence of timed personalized communication methods you will continue to be on your prospects mind as they make their purchasing decision.
   
   
4. Convert Sales – Connect with your prospects and nurture your leads until they are ready to make a buying decision. Using an automated service for routine follow-up calls can free up time for connecting with those clients who have been nurtured and are ready to buy. An important thing to remember is that it takes an average of five sales calls to close a deal, but most salespeople give up after just one or two calls.
   
   
5. Deliver & Satisfy – Winning over longtime clients is possible when you use service as a marketing strategy. Having great customer service gives you an advantage as does keeping promises rather than over-promising and under-delivering. Keep your clients expectations in line with the quality work you will provide.
   
   
6. Upsell Customers – An important statistic to remember is that 80% of your profits come from 20% of your clients. Rather than spending all of your time chasing other leads focusing on adding additional products to your current client’s plan will increase your commissions and keep your clients loyal. Why not sell your Medicare Supplement clients final expense insurance or an annuity? Follow up with your clients to keep abreast of their changing needs.
   
   
7. Get Referrals – Ask you happy clients for friends or family who are in need of products in your portfolio, and remember to thank them with a small token of your appreciation or a heartfelt thank you card.

For more in-depth information, download The Small Business Marketing Guide.

Please give us your feedback!
Are these (or similar) steps in your small business marketing plan? Do you agree/disagree with them? Do you think anything is missing?

Source: Infusionsoft

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