When seniors turn 65 and become eligible for Medicare, they face a lot of choices about their health coverage. Become a trusted adviser to your clients, rather than just an insurance agent, to help them navigate these choices. You are not the only agent targeting this rich vein of prospects, but be smart about your approach to generating and closing leads and you'll stand out from the crowd.
Medicare Part C, also known as Medicare Advantage, goes beyond the basic coverage included in Medicare Parts A and B. As it is provided by Medicare-approved private companies, the coverage varies, making it a challenge for seniors to find the best plan for their needs. This is where your professional expertise and service comes in.
Who Purchases Medicare Advantage Policies?
Seniors in good health may be more likely to purchase Medicare Advantage than other supplemental Medicare insurance options because the policies are more affordable on a monthly basis. Families on a tight budget are also good prospects for this type of coverage.
However, clients with pre-existing conditions or those who require frequent doctor visits may be less interested, as Medicare Advantage typically requires a patient co-pay. You can avoid these less likely Medicare Advantage leads by using a lead provider that allows you to apply filters for age and major medical conditions.
Where Can You Find These Potential Buyers?
A 2010 study by AHIP's Center for Policy and Research showed that low-income households and minority groups made up a significant percentage of Medicare Advantage beneficiaries. Use this data to target your Medicare Advantage leads geographically. This does not necessarily mean narrowing your territory, and in fact may include casting a wider net. Today's insurance buyers are more likely to work with agents outside their immediate area, particularly if you gain their trust and educate them about their options.
If you have been reluctant to purchase leads in the past, consider a trial period with Medicare Advantage leads. Seniors turning 65 are inundated with information about Medicare; your direct-mail pieces or unsolicited emails are likely to get lost in the shuffle. Online leads are provided in real time, so you can make the sales call while the consumer is actively searching for health insurance. Make the investment and get those exclusive leads to further increase your chances of closing the sale.
How Do You Sell To This Demographic?
Selling to seniors turning 65 is very different than it once was. Baby boomers are much more comfortable with technology than the previous generation, and they are more likely to search the Internet for information about Medicare Advantage specifics, differences between plans, and reviews of specific agents or companies. Ask your satisfied customers to submit reviews to sites like Angie's List, and post those positive comments on your own website. Your online presence and reputation matters more than ever before, so be sure to actively manage your online marketing efforts.
In addition to seniors turning 65, reach out to older consumers who may already have Medicare. While it is difficult to convince a senior customer to switch plans, recent changes in healthcare policy have many consumers re-evaluating their coverage. This provides an opportunity for you to become the trusted advisor they may be seeking. Don't forget to tell these clients that individuals with Medicare can switch to a five-star rated Medicare Advantage provider any time, regardless of the enrollment period. Conversely, reach out to 63 and 64 year olds-- they'll be 65 soon enough, and if they are already familiar with you, they will likely go to you when the time comes to think about Medicare.