Open enrollment for Medicare Supplement insurance is just around the corner, and that means it’s time to make the most of this opportunity with Medicare insurance leads. From Oct. 15 through Dec. 7, seniors will be able to find Medicare Advantage and Medicare Part D prescription drug coverage. Here’s a quick look at what insurance customers and agents will be dealing with this year, plus a few sales pipeline management tips on how you can find the best aged leads for your insurance business.
Unlike the ACA, Things Are Looking Up
Of note, while the Affordable Care Act is plagued with problems seemingly from all sides, the same is not true of the Medicare Advantage program, according to recent data. Comparing data from the Centers for Medicare and Medicaid Services (CMS) for 2017 and 2018, options for health care consumers are up, and costs are down.
- The total number of plans climbs 10% in 2018 to 38,110.
- 11,933 (31%) of 2018 plans have NO monthly out-of-pocket expense for enrollees.
- The number of such “zero-premium” plans is up 22% from just last year.
- Monthly median premium cost is down 9% from last year.
- The median 2018 plan: $43/mo. for a local PPO plan in Jefferson Co., WV, with a $6,700 annual out-of-pocket maximum. (Compare to the median 2017 plan: $47/mo. for a local PPO plan in Davidson Co., NC, with a $4,500 annual out-of-pocket maximum.)
The experts also say enrollment for Medicare Advantage plans is expected to increase 9% in 2018 — up to 20 million enrollees!
How to Get Clients for Your Insurance Business Now
There are many strategies for growing your insurance business, but one of the best values is in aged leads. Seniors start thinking about their Medicare coverage options months before they’re eligible for their annual enrollment period. There are thousands of queries made throughout the year, though most seniors will be spending the next several months making their health care coverage decisions for 2018 — that means thousands of internet leads for insurance agents like you!
I can tell you that The Aged Lead Store is getting a lot of great Medicare supplement leads from seniors who are looking to purchase their coverage in the next few months. Aged leads are just a bit older but can offer your business a fantastic return on investment with the proper tools and system to work these leads.
A reminder — 95% of leads are NEVER contacted after the first week when they put in their quote request, yet 50% of sales are found in aged leads that require lead nurturing and multiple contacts to close. With six or more contacts your chance of getting a lead into your funnel and closing can increase as much as 70%. It all comes down to the right attitude, along with proper sales pipeline management.
How to Take Advantage of This Medicare Open Enrollment
If you are in the aged health insurance lead business, I urge you to visit The Aged Lead Store to take a look at our Medicare supplement leads. By buying in bulk and working a high-volume system, you can save significantly at a cost-per-lead of less than $2 — compared to real-time lead costs of as much as $35 per lead. Plus, the return on your investment makes this an even better deal. And of course, when open enrollment is over, you still have your new clients added to your book of business, which you can cross-sell with other lines of insurance products that fit their needs. Remember, grab these opportunities when they present themselves to grow your insurance business to the next level!
Ready to get more clients for your insurance business? Fill up your pipeline with a fresh supply of the best aged 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.