Growing and scaling a business as a Medicare agent requires creativity, especially in a competitive market. Here are several innovative and effective strategies to help expand your client base and increase revenue: 1. Educational Workshops and SeminarsHost free educational workshops and seminars on topics relevant to Medicare, such as changes in Medicare plans, benefits, or eligibility criteria. These sessions position you as an expert in the field and provide a platform to connect with potential clients. Download our guide on how to market in your local community. 2. Partnerships with Local Businesses and Community CentersForge partnerships with local businesses, community centers, and retirement homes to offer informational sessions or one-on-one consultations. This can broaden your reach and establish a trustworthy presence in the community. 3. Utilize Social Media PlatformsCreate and maintain active social media profiles tailored to the senior demographic. Use these platforms to share useful content, answer FAQs, and broadcast live Q&A sessions. This not only educates but also engages potential clients. Learn more on how you can leverage social media as an insurance agent. 4. Content MarketingDevelop a content marketing strategy that includes blogging, newsletters, ebooks, and infographics. Focus on topics that are beneficial to your target audience, such as understanding Medicare options, managing healthcare costs in retirement, and the latest updates in Medicare policies. Check out the PSM Marketing Hub for marketing ideas. 5. Referral ProgramsImplement a referral program that rewards existing clients for referring new customers. This could be in the form of discounts, gift cards, or special services. Word-of-mouth is a powerful tool in the senior market. 6. Customized Email CampaignsUse email marketing to send personalized communications to your leads and clients. Segment your email list to ensure that the content is tailored to the recipients’ needs and interests, increasing engagement and conversion rates. 7. Expand Your OfferingsConsider obtaining certifications to sell additional products related to healthcare, such as long-term care insurance, dental and vision plans, or supplemental health insurance. This allows you to offer more comprehensive solutions to your clients’ needs. 8. Networking with Healthcare ProvidersNetwork with doctors, nurses, and other healthcare providers who interact with seniors. They can refer patients who might need assistance with Medicare plans. Ensure you leave business cards and brochures that they can easily give to potential clients. Sample provider outreach letter available here. 9. Utilize Client Testimonials and Case StudiesShowcase testimonials and case studies on your website and in your promotional materials. Real-life success stories can significantly enhance credibility and reassure potential clients of your expertise and commitment. 10. Host WebinarsOffer regular webinars on important Medicare topics. This approach not only reaches those who are unable to attend in-person meetings but also allows you to engage with a broader audience from the comfort of their homes. 11. Collaborate with Financial PlannersPartner with financial planners who may have clients approaching the age of Medicare eligibility. This collaboration can be mutually beneficial, as you can refer clients to each other based on the needs of the seniors you serve. 12. Local Sponsorships and AdvertisingSponsor local events or advertise in community newsletters and on local radio stations. Choose venues and media that are popular with the senior demographic to ensure your message reaches the right audience.
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Medicare Blog | Medicare News | Medicare Information
12 Innovative Strategies for Agents to Expand and Elevate Their Medicare Business
Posted by www.psmbrokerage.com Admin on Wed, May 01, 2024 @ 08:35 AM
Tags: Final Expense, Annuities, Hospital Indemnity, Medicare Advantage, Medicare Supplement, Referrals, cross marketing, cross selling, dental plans
Utilizing our insurance agent resource guides can significantly benefit your business by equipping you with the tools and knowledge to thrive in a competitive landscape. These comprehensive guides are designed to help you grow your client base, attract more referrals, and seamlessly expand into new markets. By leveraging up-to-date industry insights, marketing strategies, and detailed market analyses, you can enhance your service offerings and tailor your approach to meet the specific needs of various customer segments. Additionally, our guides offer practical tips on networking and building stronger relationships, ensuring that you not only reach potential clients more effectively but also create lasting connections that foster loyalty and word-of-mouth referrals. With these resources at your disposal, you're well-prepared to elevate your business and secure a prominent position in the insurance industry.
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Tags: Final Expense, Hospital Indemnity, Medicare Advantage, Insurance Marketing, Facebook, Goal Setting, DSNP, Enrollment Tools, Guide, Resources
For insurance agents specializing in the senior market, cross-selling additional products to Medicare enrollees is a powerful strategy to enhance value for clients while boosting your business’s profitability. With the right approach, you can effectively address the comprehensive needs of seniors, who often require more than just health insurance to feel secure. Here’s a look at how you can excel in cross-selling by expanding your portfolio beyond basic Medicare plans. Understanding the Needs of Your ClientsSeniors have unique needs and concerns that extend beyond healthcare. Issues such as long-term care, dental health, vision, and even financial security are critical. By understanding these needs, you can tailor your cross-selling strategies to offer comprehensive solutions that resonate deeply with your clients. Popular Cross-Sell Products to Consider:
Tips for Effective Cross-Selling
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Tags: Final Expense, Annuities, Hospital Indemnity, cross selling, dental plans
2024 NABIP Texas Annual Conference Recap
Posted by www.psmbrokerage.com Admin on Thu, Apr 25, 2024 @ 09:31 AM
On behalf of PSM Brokerage, we extend our heartfelt thanks to each of you who participated in this year's NABIP-TX Annual Conference for insurance agents. Your presence and engagement made the event a resounding success! We hope you found the sessions enlightening and beneficial, especially the insights on how to build an effective team, and the valuable discussions on understanding loss ratios, company data, and managing carrier books of business. The focus on Senior Dental Plans and the artful strategies behind Cross Selling provided tools that will help you secure and expand your client base. Additionally, we hope the in-depth sessions on leveraging social media effectively with JoAnna Barker and understanding the evolving landscape of 2025 Marketing Rules and CMS Regulations with Danielle Kunkle Roberts have equipped you with the necessary skills to optimize your marketing efforts and stay compliant in your practices.
The insights provided by Greg Segovia III on the Ins and Outs of an FMO relationship and Sydney Schoellman’s guidance on navigating the escalation path with your carriers are crucial tools for enhancing your business operations and improving your professional interactions. These sessions were designed to give you a comprehensive toolkit for tackling the complex challenges of today’s insurance market, ensuring that you are well-prepared to meet and exceed your professional goals. Your enthusiasm and active participation are what drive PSM to sponsor these unique and proprietary learning experiences. We are thrilled to support your journey as you implement some of these strategies to grow and scale your businesses. Thank you once again for your participation and for making the conference a memorable gathering. We look forward to seeing you next year with even more engaging content and networking opportunities to help you succeed in the dynamic world of insurance.
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Tags: Hospital Indemnity, Medicare Advantage, Insurance Marketing, Facebook, Goal Setting, DSNP, Enrollment Tools, Guide, Resources, NABIP
Hospital Indemnity Benefit Needs Estimator
Posted by www.psmbrokerage.com Admin on Thu, Apr 11, 2024 @ 10:10 AM
Offering hospital indemnity plans allows insurance professionals to meet the evolving needs of healthcare consumers, provide valuable supplemental coverage, and offer added financial protection in times of medical uncertainty.By providing fixed benefits for hospital stays and medical services, hospital indemnity plans offer a layer of financial protection that helps individuals manage unexpected healthcare costs more effectively. Download this helpful resource today.
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Hospital Indemnity offers clients a more diverse insurance product | Find out how
Posted by www.psmbrokerage.com Admin on Thu, Mar 21, 2024 @ 09:46 AM
In this episode, Jamie Sarno dispels the misconception that Hospital Indemnity hinders closing a Medicare Advantage sale, labeling it as fiction. He articulates how agents who offer diverse insurance product bundles actually experience higher retention rates compared to those who do not. Our Drip the HIP video series has the inside scoop on hospital indemnity plans (HIP). Gain invaluable insights on seamlessly filling the gaps for your MA clients in need of extra coverage, and discover the power of building a compelling case for a hospital indemnity plan. Elevate your skills, boost retention, and unlock the potential for a robust hospital indemnity plan. View PSM Hospital Indemnity Portfolio
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Tags: Hospital Indemnity
UHC AdvantageGuard launches in 16 new states
Posted by www.psmbrokerage.com Admin on Tue, Jan 30, 2024 @ 09:05 AM
Start selling AdvantageGuard today!
In this comprehensive agent training session, we will conduct an in-depth exploration of benefits offered by the AdvantageGuard Hospital Indemnity plan, along with a detailed analysis of the eligibility criteria.
Explore AdvantageGuard benefits
Clients can choose the benefits that best fit their needs and budget, all backed by a insurer with an "A+" AM Best rating2. AdvantageGuard offers convenient cash benefits paid to the insured, making it a smart choice for clients who want help with covering out-of-pocket expenses, like their Medicare Advantage plan copays. Request details today and start offering this new plan to your clients. Precision Senior Marketing is an independent broker agency offering plans underwritten by Golden Rule Insurance Company and other insurers.
1Payable per day (limits apply) when Insured Person receives a prescription delivered by injection in an outpatient provider setting. State variations apply. Not available in all states. 2Additional premium applies. 50516-G-1223
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Tags: Hospital Indemnity, Medicare Advantage, AEP
2024: Unprecedented Opportunity in Insurance as Record Boomers Hit Retirement
Posted by www.psmbrokerage.com Admin on Wed, Jan 24, 2024 @ 11:05 AM
In 2024, the insurance industry is poised to experience a significant surge in demand, thanks to a record number of Baby Boomers reaching retirement age. This demographic milestone opens up a vast opportunity for insurance sales, particularly in areas directly relevant to retirees. Products like Medicare Advantage, Medicare supplements, long-term care insurance, and life insurance policies that offer financial security and peace of mind to seniors are likely to see increased interest. As this age group transitions into retirement, their focus shifts towards managing health expenses, securing lifelong income, and ensuring a legacy for their loved ones, making them ideal candidates for these types of insurance products. Moreover, this shift isn't just about numbers; it's about changing needs and priorities. Financial planning services, annuities, and final expense insurance are also areas ripe for growth, as more Boomers seek to safeguard their retirement savings and plan for the future. Insurance agents and companies who can effectively communicate the value and relevance of their products to this demographic stand to benefit significantly. The opportunity is here! The role of an independent insurance agent catering to the senior demographic offers more than just a career; it presents a pathway to a fulfilling, flexible, and financially rewarding profession. In the face of the growing senior market, the ability to generate residual income, and the autonomy of being your own boss, this career path stands out as an excellent choice for those looking to make a positive impact while building a sustainable business. As the population ages, the need for knowledgeable, compassionate, and dedicated Medicare plan agents will only grow, making now an ideal time to step into this rewarding field. Work with a trusted partner We take pride in providing our agents with high quality senior insurance products that bring a sense of security and peace of mind to the nation's exploding senior population. Our experienced insurance marketing team provides our agents with a robust product portfolio, game-changing technology and unrivaled support. We look forward to showing you how we can personalize our services to help grow your business.
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Tags: Final Expense, Annuities, Hospital Indemnity, Medicare Advantage, Medicare Supplement
Start Selling AdvantageGuard Today
Posted by www.psmbrokerage.com Admin on Mon, Oct 23, 2023 @ 02:22 PM
Start selling AdvantageGuard today!
Your client's new option for help covering Medicare Advantage plan copays Clients can choose the benefits that best fit their needs and budget, all backed by a insurer with an "A+" AM Best rating2. AdvantageGuard offers convenient cash benefits paid to the insured, making it a smart choice for clients who want help with covering out-of-pocket expenses, like their Medicare Advantage plan copays. Request details today and start offering this new plan to your clients. Precision Senior Marketing is an independent broker agency offering plans underwritten by Golden Rule Insurance Company and other insurers.
212-month Commission Advance is only available through YourFMO.com, LLC. contract 3Payable per day (limits apply) when Insured Person receives a prescription delivered by injection in an outpatient provider setting. 4Ratings as of 12/09/2022. This worldwide, independent organization reviews insurance companies and other businesses and publishes opinions about them. This rating is an indication of financial strength and stability. For the latest rating, access www.ambest.com. 49985-G-0723 Agents Only. Not Intended For Consumer Use.
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Tags: Hospital Indemnity, Medicare Advantage, AEP
Wellabe: Big Hospital Indemnity changes coming soon
Posted by www.psmbrokerage.com Admin on Tue, Oct 17, 2023 @ 04:07 PM
Wellabe is excited to announce that we are expanding our guaranteed issue period on our Hospital Indemnity insurance product. Starting Nov. 1, 2023, applicants between the ages of 60 and 79 at the time the application is signed will be guaranteed issue.
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We are in a people helping people business, and our entire team is dedicated to always being here for our customers. That’s actually where the name Wellabe comes from – the phrase “we’ll always be.” We’ll always be here for our customers, fulfilling our promises and helping them be well. Even 90-plus years later, we are still caring for our customers, pushing boundaries, embracing growth, and transforming our organization.
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Newest Blog Posts | All Blog Posts |
Tags: Hospital Indemnity, wellabe