Another year is almost through. But 2018 offers a new opportunity for agents working with Medicare supplement leads. It’s not too early to plan for how you’ll identify and work these aged leads in the year to come. For your leads who will turn 65 in the next year, Medicare supplement coverage, also known as Medigap, remains a great value during their enrollment window.
The Medicare Supplement Window
As you plan your strategy for working Medicare supplement leads, remember that deadlines can be a strong motivator. Educate your leads about the limited time they have to sign up for coverage and then follow up as needed.
As a reminder, Medicare supplement coverage, which covers some costs, like deductibles and coinsurance not covered under Medicare Parts A and B, becomes available to people:
- On the first day of the month that they turn 65 or older, and who
- Are enrolled in Medicare Part B.
That’s the beginning of the window. From there, these folks have six months in which to buy a guaranteed issue policy. Remember to define terms, like guaranteed issue, for your prospects. The term may not mean much to them, but they’ll perk up knowing that they don’t have to worry that a past or present health problem will cause them to have either:
- Higher premiums, or
- Be turned down for coverage.
Millions of American each year can benefit from this supplemental coverage that provides the guaranteed benefits they need at the best price available. However, time is ticking. If seniors don’t act during this limited six-month window, they risk either being turned down or paying more.
Again, that’s an important pain point for you agents to drive home. Be sure to educate your leads about this time-sensitive window and drive your sales by meeting the needs of Medicare supplement clients promptly.
The Process for Working Aged Medicare Leads
As with any aged leads, your system is everything. To work a healthy volume of leads efficiently, you’ll want to make good use of an autodialer, customer relationship management (CRM) software, call scripts, and marketing automation. It may take some time to set up if you haven’t yet done so, but it will make your life so much easier.
The first step of selling to these leads is to get organized. Different lead pools will need different attention and different tactics. Organize your different groups of leads so that you can capture the most prospects approaching or within their open enrollment window as possible.
Start with any new purchases of aged leads who are approaching their six-month open enrollment window. But don’t neglect your existing book of business. Those folks who’ve been buying auto and health policies from you for years could be turning 65 this year, too. And don’t forget about neighbors, parents, and church friends of your best long-term clients. Finally, what clients have you just assisted with Medicare Advantage (Part C) or Medicare Prescription Drug Plan coverage (Part D)? These folks may have just made an insurance decision before the December 7 cutoff for those plans, but they may also be considering future supplement coverage during the coming year. It doesn’t hurt to call through that list and ask.
All told, each of these groups of clients and leads will require a slightly different approach. Hence, the purpose of sorting them out ahead of time. Not only should Medicare supplement leads be sorted by x dates, but they should also be sorted by lead type. This gives you the best possible shot at winning new business from them. Here’s what to do next.
Start your supplement coverage lead generation work with your existing clients. Think about sending out a special referral request just after the first of the year. Call attention to the opportunity for seniors approaching 65 to obtain a guaranteed issue policy at the most affordable price. Leave your CTA open to all your customers, so that they can contact you if they know someone else whose birthday is coming up.
Use your CRM software to find which of your current clients will turn 65 in 2018 — that’s everyone born in 1953. Have a plan to call this list and educate them about Medicare supplement coverage, their limited enrollment window, and the cost savings from signing up this year. You could also do a drip email campaign or send these clients to a mini-site landing page to accomplish the same task.
If you’ve just helped someone sign up for Medicare before the December 7 cutoff, give them another call to see if they’ve got their supplement coverage in place. If not, you know what to do.
Finally, if you’ll be working with a fresh batch of aged Medicare supplement leads — a great strategy to grow your business long term, by the way — get started today. Make sure to work through your leads smartly with a CRM, dialer, scripts, and automation tools. Again, focus on educating your aged leads about their limited timeframe to sign up for coverage and receive a guaranteed issue and the best pricing available — but only during their six-month window.
All told, Medicare supplement insurance is a great opportunity for agents and a fantastic value for seniors. I recommend you start your 2018 off right by getting ahead of the competition with a plan and system to put into action.
Start your new year off right with a fresh supply of high-quality aged Medicare Supplement leads from The Aged Lead Store. You’ll find thousands of sortable aged leads, ready to boost your sales, whether your business is auto, life, health, Medicare supplement or homeowners insurance, annuities, auto warranty coverage, mortgage refinance, or solar installation.