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The insurance industry, especially in the realm of Medicare plans, presents a landscape brimming with opportunities for those seeking a blend of autonomy, financial stability, and the satisfaction of providing a valuable service. As an independent insurance agent specializing in Medicare plans, you stand at the forefront of a rapidly growing market, offering vital services to a demographic that is expanding each year: seniors.
The Expanding Senior Market The demographic landscape of the United States is undergoing a significant shift. With the Baby Boomer generation reaching retirement age, there is an unprecedented increase in the population of seniors. Statistics indicate that by 2030, all Baby Boomers will be over the age of 65, thereby expanding the senior market substantially. This growth translates into a growing need for Medicare plans, tailored to meet the diverse health care needs of the aging population.
Unlike many other professions, where income is directly tied to the hours worked, Medicare plans offer the potential for earning a recurring income on policies sold. This means that each policy sold can continue to provide income for years, compounding over time as you build your client base. This structure offers not only a steady income stream but also the peace of mind that comes with financial stability. Autonomy and Flexibility Being an independent agent means being your own boss. This autonomy allows you to set your own schedule, choose your clients, and create a work-life balance that suits your lifestyle. Whether you prefer to work from home, set up an office, or be on the move, the flexibility inherent in this career path supports a variety of working styles and preferences. This level of independence is particularly appealing to those who thrive in an environment where they can take charge of their business growth and direction.
The satisfaction of providing a service that helps people understand and access the healthcare they need cannot be overstated. It’s a role that not only benefits your clients but also brings a deep sense of personal fulfillment. The opportunity is here! The role of an independent insurance agent selling Medicare plans 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.
With approximately 10,000 individuals in the United States becoming eligible for Medicare each day, finding the right Field Marketing Organization (FMO) to partner with is crucial for achieving success. PSM goes above and beyond to empower independent agents, agencies, and brokers by offering unparalleled insurance products, exceptional back-office support, and a wealth of valuable tools and resources.
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. Precision Senior Marketing was founded in 2006, in Austin, Texas. In the intervening time with almost two decades of experience, PSM has grown to a nationwide footprint, with a mission to empower agents to honestly and ethically help people live longer, healthier and more financially secure lives.
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Compliance with rules for selling Medicare Advantage (MA) and Part D prescription drug plans (PDP) is the responsibility of everyone serving Medicare customers.
This guide was developed to aid compliance throughout all stages of the sales process and includes critical information and useful tips to keep in mind at all times.
Making a Compliant MA/PDP Presentation
Featuring a handy check list, presentation phases are covered in three sections:
Prior – Key points
- Understanding what is permissible and not permissible to discuss with a prospective client
- Knowing what questions to ask
- Being prepared to sell
During – Necessary steps
- Making proper introductions
- Providing necessary disclosures
- Being up-to-date on relevant published materials such as provider networks, drug formularies and plan benefits, premiums and client costs
- Ensuring clients understand all aspects of the sales process
After – Important follow-up actions
- Seeing if the customer has any questions about the plan they’ve chosen
- Confirming client understanding of benefits, coverages, co-pays/co-insurance and provider network information
- Making sure the customer has the agent’s contact information
Things to Know
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👉 Do • Clearly identify the products to be discussed, and ONLY discuss those agreed |
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👉 Do Not • Discriminate in any way, including discouraging enrollment for the disabled• Attempt to enroll someone with a diminished capacity to understand • Engage in high-pressure sales or scare tactics or use misleading, conflicting, confusing statements • Collect financial information during pre-enrollment activities • Imply Medicare is only available to seniors • Offer monetary or promotional gifts to induce enrollment or to compensate based on use of services |
Other Points of Interest
In addition to the preceding information, the compliance guide addresses the following topics:
- Compliance metrics
- Avoiding client complaints
- Primary care physician auto-assignments
- Marketing during Pre-AEP and prior to October 1
- Do’s and don’ts for conducting an educational event
- And more!
Download the Compliance Guide here!
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