Many younger Baby Boomers have used the internet for their entire adult lives, so it makes sense that 40 percent of seniors use smartphones. Since Baby Boomers readily familiarize themselves with technology, you should make your phone a huge component of your overall marketing and sales strategy. Many of your prospects may actually prefer to use their phones rather than meet face to face or use paper forms.
Selling Medicare Over the Phone: A Great Opportunity
In order to sell Medicare by phone, you don’t have to live in the state you want to sell in, you just need a license to sell Medicare in that state. That means you’ll be able to reach more people than ever before as long as you have the right skills, education, and certifications.
Selling Medicare over the phone gives you the unique opportunity to connect people with quality and affordable health coverage. People don’t want to spend time sorting through thousands of plans online. They want someone to point them in the right direction and make suggestions based on their budget and lifestyle needs.
How to Sell Medicare Advantage Plans Over the Phone
Knowing how to sell Medicare Advantage plans over the phone can be a giant leap for your business. First, you must be AHIP-certified, and then you must contract with all the carriers whose plans you want to sell. It’s smart to contract with as many possible so you can offer clients a variety of options. This shows them that you are not biased and just want to help them select the best option.
Most Medicare-eligibles will have only two enrollment periods during which you can sell to them, the Initial Enrollment Period (IEP), which is the seven months surrounding their 65th birthday, and the Annual Enrollment Period (AEP), which is from October 15 to December 07. Some beneficiaries will qualify for a Special Enrollment Period (SEP), which allows you to sell to them at any point during the year. This is where you will be able to keep some additional income coming in during those off-seasons.
How to Sell Medicare Supplements by Phone
Medicare Supplements cover expenses such as coinsurance and MA plans cover medical expenses such as doctor visits. Medicare beneficiaries cannot enroll in both a MA plan and a Medigap plan, so it’s important to determine your client’s needs so you aren’t offering something they can’t use.
You’ll need to contract with insurance carriers before you can sell their Medicare Supplement plans, but you won’t need AHIP certification. However, it’s a wise choice to obtain AHIP-certification anyway so you have access to both MA and Medigap plans to provide your clients with the most pertinent options. The more options you can offer, the more likely it is that they will sign that policy with you.
Medicare Supplements have 10 different levels of coverage, and each level is associated with a letter. Each “letter” offers the same basic coverage in every state, though some plans may add a few extra benefits. As long as you’re licensed in the client’s state and you’ve contracted with the carrier, you can sell a plan. You can sell Medicare Supplements (Medigap) plans at any time of the year without having to wait for the AEP, which gives you an opportunity to earn commissions all year. And don’t we all like the sound of that?
How to Talk to Baby Boomers
In order to effectively sell Medicare by phone, you’ll have to speak your prospects’ language. Speak confidently. Your prospect will think you’re hiding something if you stumble over words. Be polite. Baby Boomers appreciate good manners and proper phone etiquette.
Baby Boomers like details and information, which is another reason you have to be an expert in Medicare plans. You don’t want to have to continuously put a client on hold while you research their questions about plan details. Go into the meeting organized.
You want to build rapport as quickly as possible with your Baby Boomer prospect. You want to be friendly and approachable, but be careful about becoming too informal. Keep your conversations professional. Ask probing questions and demonstrate that you understand the answer. Use phrases such as, “So from what I understand, you’re looking for a plan that features [insert benefit here].”
Show your clients you care. Health insurance is confusing, and if you’re patient with answers to prospects’ questions, they’ll be more likely to trust you. If your clients go into long stories about their personal lives, gently guide them back to the topic at hand. Your conversations should be intentional, but not stiff.
Word of mouth is huge among Baby Boomers. If you provide a great customer experience, they’ll recommend you to their friends and family. While you aren’t allowed to explicitly ask for referrals in regards to Medicare Advantage, your clients can forward your contact information.
Develop a Script
A script is a useful tool for guiding a conversation and staying on-topic. Scripts will also help you stay compliant with CMS and your carriers.
Your script should start with an introduction including your agency’s name. It should explain why you’re calling and should get to the point quickly. To allow the client to feel empowered, ask if the caller wants to talk to you or if there is a better time to call back. Ask about your client’s current insurance plan and make notes in your CMS. Once you’ve learned what they’re in the market for, you can offer matching plans.
Speak to your clients on their level and keep things casual. They don’t understand Medicare like you do. You want your client to forget that they’re on a sales call and feel like they’re just having a normal conversation. Avoid jargon and typical sales phrases. What may look great on a one-sheet may sound forced over the phone.
Once you have a great script, commit it to memory. You should speak normally rather than reading the material. If you absolutely must read, vary your pitch so you don’t sound robotic.
Technology to Make it All Easier
ProspectBoss has developed a platform that will help you every step of the way when it comes to selling Medicare over the phone. The sole function of the platform is to provide agents with an all-in-one solution for prospecting. The CRM Dialer has a multi-line power dialer, crm that keeps track of all your leads and contact history, email marketing, SMS marketing, video messaging and conferencing, the works. ProspectBoss even has a lead store that you can pull T65 leads from if you need them.
To learn more about ProspectBoss, visit www.ProspectBoss.com or call 800-662-4009 ext 1 to speak with a sales boss.