Do You Need a Medicare Insurance Agent?

Anyone currently enrolled in Medicare or will soon be turning 65, or any relatives of seniors or Medicare beneficiaries who assist with healthcare matters. Gain a solid understanding of what Medicare is, how it works, and the benefits available to you. Get the latest information on the yearly changes to Medicare benefits. Ask a Licensed Agent questions about your specific situation. Whether you are just turning 65, are looking to gain access to early benefits, or need to delay Medicare enrollment, your dedicated Licensed Independent Agent will review all the pros and cons. All agents must have a license in the states where they sell policies.

Many companies offer their agents bonuses when they meet specific sales goals. Therefore, agents are more likely to sell more expensive policies, even if the consumer doesn’t need it. Due to this, agents have a reputation of being all in the same, but that’s not at all true. With today’s technology, you don’t need to waste your time driving down to a local office to meet with a local agent.

Examine how those benefits relate to cost factors like copays and coinsurance, then compare those cost-benefit balances across plans. If possible, start with the largest carriers like Aetna, Cigna, Humana, or United. These firms comprise the bulk of the market share and tend to be easier to sell. Ultimately, your product offerings will be dictated by your territory and sales model.

For example, if you sell 200 Medicare Advantage plans in your first year, you could earn $60,000 in Advantage commissions alone. If you've ever considered learning how to become a Medicare insurance sales agent, there's never been a better time. The lowest price for Medicare Supplement insurance may seem attractive. That’s why it is important to ask the agent or broker about the company’s recent record of rate increases. A good agent will have no problem sharing this information (hint, that’s a good way to identify a good agent). And, Medigap insurance prices can vary from one Zip Code to the next.

Without adequate coverage, these costs can add up to millions of dollars. That's part of why some carriers require you to have E&O before you can sell with them. Determine the size and diversity of the plan's network medicare agent so you can advise new clients. Identify what costs a client might incur if they go out of network and ask the carrier if it requires referrals. Take the marketability of each product into account as well.

Some states require and offer classroom training with a seasoned licensed health insurance agent who prepares you for the exam. This is a nice option by giving you access to someone who can answer questions as you progress through the course. This classroom training takes roughly a week to complete with the goal of passing the exam at the end of the class. Medicare has neither reviewed nor endorsed this information. In some states, all Medicare Supplement plans are offered to qualified individuals under the age of 65.

Any content you submit will be routed through the Internet and you understand and acknowledge that you have no expectation of privacy with regard to any content you submit. Never assume that you are anonymous and cannot be identified by your posts. If you live outside the U.S., you may see information on this website about products or therapies that are not available or authorized in your country. We maintain reasonable administrative, technical and physical safeguards designed to protect the information that you provide on this website. This website may permit you to view your visitor profile and related personal information and to request changes to such information. If this function is available, we will include a link on this website with a heading such as "My Profile" or similar words.

Agents and health plans made up 87 percent of search page ads, while CMS accounted for 7 percent. Undergo product and sales training from contracted carriers. Choosing benefit structure, for example, 1) traditional Medicare combined with a Part D prescription drug plan and Medicare Supplement plan versus 2) a Medicare Advantage private plan. Our Scorecard ranks every state’s health care system based on how well it provides high-quality, accessible, and equitable health care.

We then match the right shopper to the right agent based on the shopper's needs and the agent's portfolio. All of these certifications, training requirements, and legal protections can make selling Medicare insurance feel overwhelming at first. But don't let them deter you from reaching your end goal — a rewarding and lucrative career. Once you start connecting with prospects, it's important to make sure you have all the tools you need to make the sale. Consider pre-ordering your kits so that your requests are at the top of the list when your carriers start distribution.