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Selling Medicare Supplements: a Great Career

Medicare Supplement sales is an exploding market within  the insurance industry. Every day, over 10,000 people age into Medicare at age 65.

Many Medicare beneficiaries are thoroughly confused by the many different coverage options available to them. The mountain of mail and information they receive as they approach age 65 is overwhelming.

Turning to an expert senior market insurance to help them navigate the waters and choose a suitable Medicare plan is a relief for them. You can empower them with simplified information, and help them feel educated enough to choose a suitable plan. This makes for a rewarding and fulfilling career.

As the wave of baby boomers begins to become eligible for Medicare, there has never been a better time to start selling Medicare Supplements and Medicare Advantage plans.

Medicare Insurance carriers offer plenty of options for you to market to your clients.

Types Of Medicare-Related Insurance Policies

There are two main types of Medicare policies that your clients will want to know about.

Medicare Supplement Plans are a popular choice for beneficiaries who want the freedom of choice to access any provider that accepts original Medicare. These policies are paired with Medicare to provide a comprehensive benefit plan package.

Also called Medigap policies, supplements are standardized by the federal government to make it easy for your clients to compare benefits between plans, and choose the one that suits them. Each Medicare supplement plan covers a different set of gaps in Medicare, such as deductibles, coinsurance and copays.

Once you help your client choose the medicare supplement that will best fit their needs, you assist them with shopping rates and evaluating each carrier's reputation, financial stability and rate trend history. Then select a carrier and enroll! .

Medicare Advantage Plans were created by the Balanced Budget Act of 1997 to offer Medicare beneficiaries a less expensive alternative to medigap plans. These are private Medicare help plans in which beneficiaries may enroll if they agree to get their coverage from the plan's network of providers.

Medicare Advantage plans often have  lower premiums, but they require the member to share in the costs of their care by paying copays or coinsurance for various medical services. Some plans also require members to get referrals from their primary care provider before they can see a specialist.

While Medicare Advantage plans may have more restrictions and rules for participation, they also provide a form of coverage for beneficiaries who might not be able to afford a Medigap plan. They are also a popular choice for beneficiaries who rarely use their insurance and don't want to pay higher premiums for a plan when they go to the doctor infrequently.

Want to add Medicare supplements to your product portfolio? Check out our companies page to see the excellent contracts we can offer you and then contact us for help getting appointed.