During AEP this fall, Joe Namath and the marketing teams for national call centers will be targeting your Medicare Supplement clients. Do not keep your head in the sand– connect with all your Medigap members and review their needs before they are tempted to call Joe.
The national call centers’ message of lower costs and wider benefits is one you should be having now to defend business whilst identifying anyone who should be considering a Medicare Advantage plan. If your clients would benefit by a move, it should be with your advice.
Many people sign up for a Medigap plan when they first retire; they want the simplicity, portability and guarantees that come with a Medigap plan. Over time, many people no longer need the portability, have reduced income, may have low claims, or want the broader coverage and preventative services offered by Medicare Advantage.
By implementing a plan of action that involves reaching out to your Medigap clients, you will either reassure them that they can ignore the continuous AEP advertising or set them up for a meeting after October 15th to discuss their Medicare Advantage options. Low income in retirement is a major issue, and having your clients continue to pay high premiums for Medigap, a standalone Part ‘D’ plus a separate dental plan is oftentimes a luxury many cannot afford.
As their agent, you can call to discuss their existing coverage – focus on affordability, health, medication needs, travel, what providers they actually use, and whether they want the convenience of packaging all the health needs into a single plan. Whatever the outcome may be, your clients will appreciate you thinking of their needs before the marketing blitz in the fall.
When determining which clients may benefit from a planned meeting during AEP, we think you will identify 20%- 30% of your book as fitting into that category. With a Scope of Appointment and a scheduled meeting, you can discuss in detail the benefits, networks, formularies, and the cost of specific Medicare Advantage plans.
This outreach can save hundreds of dollars for your clients while expanding your business to new customers, thus creating a major revenue stream for your agency.