5 Advantages of Selling Medicare Supplement Products

5 Advantages of Selling Medicare Supplement Products
5 Advantages of Selling Medicare Supplement Products

Medicare is a lifesaver for over 62 million US adults, but how does it work?.

Part A pays for ambulance costs, while Medicare Part B covers doctor appointments and tests. Part D covers prescription medication costs. Lastly, Part C, a private option called Medicare Advantage, consolidates parts A and B.

Despite coverage, millions of Americans still struggle with paying health expenses. Fortunately, patients can buy supplemental medicare products to fill the gaps.

Do you want to help people get the healthcare coverage they desperately need?

Learn how selling medicare supplements helps your community and leads to a rewarding career.

1. The Medicare Market Is Huge

Are you looking for true job security?

The Medicare market isn’t slowing down.

Recent data reveals more than 54 million US adults are over the age of 65. This figure doesn’t even represent the full scope of the Medicare market, which also includes people with disabilities.

Don’t discount people under the age of 65: this segment is actively thinking about Medicare too. Medicare supplement agents start promoting to ages 59 and older.

Patients turn to Medicare supplements for several reasons:

  • An alternative to Medicare Advantage (another product you can sell)
  • Natural health coverage beyond Medicare’s limited holistic offerings
  • Coinsurance cost coverage
  • Help with copayments and deductibles
  • Low out-of-pocket costs
  • Access to a reliable network of medical professionals

Buyers also enjoy a transparent benefits structure.

For example, a plan from one carrier has the same benefits as comparable plans from other carriers. Thus, making your job as a Medicare sales agent much easier.

Becoming a Medicare insurance agent is pretty straightforward too.

After taking the state-mandatory Medicare course and licensing exam, you’re free to sell Medicare Advantage, Medigap, and other supplemental benefits.

Theoretically, you can become an agent in mere days!

2. Selling Medicare Is for Lead Generation Gurus

Great sales instinct means nothing without a valuable product. Fortunately, Medicare supplements are always in demand. This growth allows you to flex those lead generation skills.

Since you’re marketing to an older demographic, cold calling is still very necessary for selling Medicare supplement products. If you’re not shy on the phone, you could call over 60 leads per day!

Of course, you need to find Medicare prospects first.

Strategies include:

  • Cold-calling consumers actively looking for Medicare
  • Building a Medicare Informational site
  • Medicare content marketing
  • Search engine pay-per-click ads (PPC)
  • Outsourcing a call center
  • Medicare consumer lead lists

When you partner with a carrier, choose a Medicare provider that has mobile apps too. Your leads have jumped through enough healthcare hoops. Think of every benefit, perk, and tool that can enhance their experience.

3. Healthcare Product Variety

Extra perks help close the deal with leads on the fence. A broad selection of products helps you focus on more patient needs, like transportation and meal delivery.

The more products you have at your disposal, the easier it is to create a rewarding experience.

For example:

Suppose you’re cold calling a 70-year old lead about Medigap supplements. You ask how their family is doing, and they tell you how much they appreciate their adult children’s help. This answer is the perfect segue into a sales pitch for caregiver support benefits.

Other extras include:

  • Vision and dental
  • Gym memberships
  • In-home care
  • Counseling and therapy
  • Senior day-care
  • Extra telehealth services
  • Massage
  • Ear health (and hearing care)
  • Nutrition expertise
  • Medical alert devices
  • 24-hour hotlines
  • Pest control

Medicare supplements are also a marketer’s dream. There are several marketing angles and segments to target.

For example, you could target the holistic health segment by offering integrative health benefits, along with traditional Medigap plans. Since more people work from home, you can expand on telehealth services too.

At a bare minimum, every carrier should offer the 10 primary Medigap plans. Plus, you can only sell plans in your state. This stipulation can affect which benefits you can offer, so choose your providers carefully!

4. Build Your Online Medicare Empire

While cold calling is still an important medicare marketing method, online use is surging among baby boomers. Plus, your GenX leads are very much online.

Even better, virtual telehealth services are growing, providing even more add-ons for your expanding inventory.

Since Google takes healthcare content credibility seriously, being a licensed Medicare agent is a huge plus.

Signaling your credentials to Google also improves your website ranking in search results. This information is a critical step of the Google E-A-T method, a valuable content framework for Medicare agencies.

You also have a chance to put your creative problem-solving skills to the test. Healthcare marketing requires meticulous monitoring and metrics tracking. Moreover, you must follow the latest Medicare compliance standards.

Since so many people are looking for Medicare information online, you could create a network of informational sites.

You’ll need a robust content strategy with the following:

  • Health and wellness blogs
  • Free Medicare eBooks
  • Comprehensive online guides (pillar content)
  • Medicare supplement video tutorials
  • Medicare newsletters
  • Health quizzes
  • Medicare cost calculators

With enough capital, you could become a one-stop shop for all things Medicare.

Alternately, you could build Medicare comparison sites, generating more income from referrals alone.

5. Make a Positive Difference In People’s Lives

Do you want a sales career that makes you feel good at the end of the day?

Rest easy knowing you helped someone get the coverage they deserve. Choosing a Medicare provider can be fraught with difficulty. Millions of Americans need help making sense of the process while dealing with their own health concerns.

With an arsenal of products (and knowledge) by your side, you can ensure the members of your community are covered. This commitment is another selling point. Proudly tout your community pledge on your Medicare website!

Turn Medicare Into a Fulfilling Career

Medicare is a time-consuming process that often leaves patients paying even more. Help seniors navigate the subject, discovering peace of mind and lower rates. Remember these advantages as you consider selling Medicare full time. Check-in daily for even more posts on trending topics.

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