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HOW TO INSURE MEDICARE-ELIGIBLE CLIENTS
National Edition
“I'M TURNING 65. WHAT AM I SUPPOSED TO DO ABOUT MEDICARE?” That's not merely a Medicare question. It's another stage in a client relationship that may have lasted decades. And if your agency isn't prepared to help... SOMEONE ELSE WILL BE. MEDICARE CAN LOOK LIKE ALPHABET SOUP TO THE CLIENT
The producer's first responsibility isn't to make it sound simple when it isn't. It's to help the client understand the decisions that need to be made and identify what must be verified. CLARITY BUILDS TRUST. THIS GUIDE IS ABOUT PRODUCER THINKING. Medicare is governed by federal rules, and plan availability, benefits, costs, and requirements can change. That means a responsible producer shouldn't rely on an old manual for current plan-specific answers. This guide is designed to teach:
This practical producer guide helps you work through concepts involving:
It's to help the producer conduct a better Medicare conversation. WHO IS THIS GUIDE FOR? Especially useful for:
START WITH THE CLIENT'S SITUATION Don't begin with: “Do you want Medicare Advantage or a Medicare Supplement?” That's jumping ahead. Start with questions such as:
DISCOVERY BEFORE PRODUCT. ORIGINAL MEDICARE The producer needs a working understanding of Medicare Parts A and B and how they form the foundation for many Medicare coverage decisions. But don't turn the appointment into a government-program lecture. Explain concepts in language the client can understand. Then verify current details using authoritative sources. MEDICARE ADVANTAGE Medicare Advantage plans can vary by location and plan. Issues may include:
And never assume a plan available in one location is available everywhere. VERIFY THE ACTUAL PLAN. MEDICARE SUPPLEMENT INSURANCE Medicare Supplement insurance operates differently from Medicare Advantage. The producer should understand the basic distinction and be able to explain it clearly without steering the client based upon assumptions. Availability, underwriting considerations, and enrollment protections can depend upon the client's circumstances and applicable rules. Again: VERIFY. PRESCRIPTION DRUGS CAN CHANGE THE CONVERSATION A client's medications may be an important consideration when evaluating available coverage. Don't say: “Your prescriptions are covered.” without verification.
CHECK CURRENT INFORMATION. PROVIDERS CAN MATTER TOO The client says: “I've been seeing the same cardiologist for 15 years. I don't want to change.” That's important information. The producer should understand how provider access relates to the coverage options being considered and use appropriate current resources. Never promise network participation from memory. EMPLOYER COVERAGE CAN COMPLICATE THE DECISION. Turning 65 doesn't automatically mean every person has the identical next step. A client may still be:
DON'T BUILD THE ANSWER BEFORE YOU KNOW THE FACTS. TIMING MATTERS Medicare involves enrollment periods and deadlines. Missing an applicable enrollment opportunity can have consequences. The producer needs to recognize when timing matters and verify current rules. A good producer doesn't say: “I think you've got another couple of months.” A good producer checks. CALENDAR DISCIPLINE IS PART OF MEDICARE PROFESSIONALISM. MARKETING RULES MATTER TOO Medicare marketing and sales activities are subject to requirements that can change. Producers should use current CMS, carrier, and other applicable compliance guidance regarding issues such as:
“That's how we've always done it.” CURRENT COMPLIANCE WINS. NOW LET'S FIND THE PROSPECT
Here's what makes Medicare prospecting particularly interesting. AGE IS PREDICTABLE. Your client's 65th birthday isn't a surprise. You can plan for it. PROSPECTING TRIGGER #1 THE APPROACHING 65TH BIRTHDAY. Your agency already has dates of birth for many clients. Used appropriately and consistent with applicable privacy, marketing, and compliance requirements, that information can help identify upcoming client-review opportunities.
PROSPECTING TRIGGER #2 RETIREMENT The client says: “I'm retiring at the end of the year.” Don't hear only: “My commuting mileage is going down.” Hear: COVERAGE TRANSITION. Ask: “What happens to your health coverage when you retire?” That may open the Medicare conversation. PROSPECTING TRIGGER #3 THE SPOUSE RETIRES The client may have been covered through a spouse's employer. When that employment ends, the insurance situation may change. A spouse's retirement can therefore trigger a Medicare review too. PROSPECTING TRIGGER #4 THE BUSINESS OWNER STEPS AWAY A Commercial Lines client says: “My son is taking over. I'm finally retiring.” That's more than a business succession conversation. It may involve:
PROSPECTING TRIGGER #5 EXISTING CLIENTS OVER 65 Don't assume every Medicare-eligible client is already perfectly situated. Coverage and client needs can change. Appropriate periodic reviews may uncover questions. Any review or marketing activity must, of course, comply with current Medicare rules. PROSPECTING TRIGGER #6 THE ADULT CHILD Sometimes the question comes from the family: “My mother is turning 65 and doesn't understand any of this. Can you help?” That's an opportunity to provide education. But remember: THE MEDICARE-ELIGIBLE PERSON IS THE CLIENT. Respect privacy, consent, and applicable rules. YOUR PERSONAL LINES BOOK MAY CONTAIN A MEDICARE PIPELINE. This is where established P&C agencies may have an enormous advantage.
Then help them before they have to search for a stranger. DON'T LET A 25-YEAR CLIENT BECOME SOMEONE ELSE'S NEW PROSPECT. |
THE COMMERCIAL BOOK MAY CONTAIN PROSPECTS TOO
IT EVOLVES. EDUCATIONAL PROSPECTING Medicare prospects have lots of questions. Answer them.
EDUCATE—AND VERIFY THAT YOUR MARKETING PROCESS COMPLIES WITH CURRENT REQUIREMENTS. BUILD A MEDICARE PROSPECTING CALENDAR. This is where I would turn the guide into a working agency system. Don't simply create a list.
The objective is:
A 30-DAY MEDICARE PROSPECTING PLAN WEEK 1 — REVIEW THE EXISTING BOOK.
Start with: “I'M TURNING 65. WHEN SHOULD I START THINKING ABOUT MEDICARE?”
Track appropriate information such as:
DON'T JUST CHASE TURNING-65 LEADS. Purchased leads can have a place in some marketing strategies. But established agencies may be overlooking something much more valuable: THEIR OWN CLIENTS. Think about the relationship advantage.
MEDICARE CAN ALSO BECOME A RETENTION STRATEGY. Suppose you've insured a household's home and auto for years. Then the client approaches retirement. If you can also help appropriately with Medicare-related insurance needs, you give the household another reason to remain connected to your agency. And that relationship may eventually extend to:
REFERRALS CAN BE POWERFUL. People approaching Medicare eligibility know other people approaching Medicare eligibility.
After serving the client, an appropriate referral request can be simple: “If you know someone else who's confused about their Medicare choices, I'm happy to help them understand the process too.” Any outreach and follow-up should comply with current applicable Medicare marketing rules. ONE MEDICARE CLIENT MAY REVEAL OTHER NEEDS Suppose a client approaches retirement. During appropriate discovery, you learn:
IT MAY BE THE BEGINNING OF ITS NEXT CHAPTER. REAL-WORLD PRODUCER THINKING The guide includes practical Medicare-related situations requiring the producer to work through:
GOOD PRODUCERS DON'T GUESS. PRACTICAL PRODUCER TOOLS. Use this guide for:
WHAT COULD ONE MEDICARE RELATIONSHIP BE WORTH? This guide costs: $25.
$25 — BUY IT ONCE. USE IT FROM NOW ON. KNOW MEDICARE...BUT NEED MORE PEOPLE TO FIND YOU?
WILL THEY KNOW YOUR AGENCY CAN HELP? FYI Express+ can help insurance professionals build educational visibility around the questions prospective clients are already asking. Instead of advertising: “WE SELL MEDICARE PLANS.” Answer:
Give people a reason to remember your agency. And always make sure Medicare-related marketing follows current applicable requirements.
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