There are great opportunities for Dental and Vision sales in 2019. Around 60% of the 370,000 members in Minnesota transitioning from a Cost Plan chose a Medicare Supplement. They chose Supplements for the wide network, low cost sharing they had with a Cost Plan.
However, Supplements do not cover Dental. It’s time to explain how Dental insurance works and why your clients should sign up for a plan.
Let’s run some quick numbers to demonstrate why Dental coverage makes so much sense.
- Premiums around $35 per month = $420 per year. Did you know that the average submitted claims just for preventative services (2 x cleanings, exam & bitewings x-rays) are $387.98, demonstrating that dental insurance really is providing great value.
- Network discounts, averaging 32%, apply on day one.
- 100% coverage for Preventative and X-Rays (cleaning and exams twice per year) $150 – $200 per time = $300 / $400 per year. Clients don’t need to write a single large check as premiums paid monthly effectively create a lay away for preventative work.
After taking advantage of the preventative benefits, all treatment is an upside.
- Basic Services (fillings & extractions) 50% on day one, 80% after 1 year.
- Major services (Oral surgery, Crowns, Bridges etc.) 15% on day one, 50% after 1 year.
- Maximum benefit of $1000 or $2000 per year. Only charges after discounts and insurance are applied to the maximum benefit.
We recommend Ameritas ‘Primestar’, formerly Security Life Dental. Security Life was a small Minnesota dental company purchased by Ameritas, they kept the great plan design and added in a much larger network and a great customer service operation. Visit www.SecurityLife.com to check out pricing and networks in your area, or Click here for an Ameritas brochure.
Once appointed with Ameritas, you will have access to online quoting and enrollment. Signing clients up for Dental may only take five minutes, and you can even link the site to your webpage, which means clients can sign up for Dental all year long without even needing an appointment.
Depending on whether the policy sold is individual or family, you will earn commissions between $30 – $50 per year for the life of the policy. Retention with Dental is great, which means you can grow a great revenue stream by selling Dental alongside all your individual, Medicare and small group contracts.
We find advisors make more sales when they focus on the Dental presentation, and add Vision after you have explained the value of Dental.
There is also a great market in purely Vision sales as a standalone product, since many group Dental clients do not have Vision coverage. An easy way to describe the two Vision networks is: Eye Med, which includes many of the retail and big box Vision stores such as Target, Pearle Vision, Lenscrafters etc.; and VSP, which provides more specialist Optometrist Doctor networks.
Ameritas offers a competitive array of individual and group dental and vision insurance products throughout the United States. Ameritas prides itself on creating dental and vision solutions for just about every need.
More facts about Ameritas Dental insurance.
- No Age Limits – same premium at any age
- Guaranteed Immediate Acceptance
- No Waiting Periods
- 425,000 access points
- Coverage in all 50 states
- Great customer service
You can learn more about Ameritas by watching our webinar here.