Demography studies the human population and is used to help form budgets around federal programs and forecast projections. The size of the population ages 25-54 affects the number of people employed but did you know the growth of the population aged 65 or older outpaces the growth of younger age groups?   BY 2023 ALL BABY BOOMERS WILL BE AGE 65 OR OLDER The number of Americans ages 65 and older is projected to nearly double from 52 million in 2018 to 95 million by 2060! What better industry to be in than Medicare? Talk about supply and demand!

Medicare selling can be both a rewarding business and one that keeps you financially stable.  Whether you are selling Medicare Supplements, Medicare Advantage, Medicare Part D, or all the above there is an immense need for our senior population to get guidance on the complexity of their Medicare options.  Commissions on advantage plans and part d plans are standardized by the government.  Commissions on the supplement side can vary slightly by the carrier.

Below is a chart to show you the current Medicare Advantage commission amounts which can vary slightly by state.

The number of potential enrollees is increasing, and the commission pays well so of course you can be making a 6-figure income! Below are some guidelines of best practices to maximize your new sales and retention.

1. Everyone you talk to is a prospect, always save their information. They may not want to change plans now but keep in touch as they may in the future!
2. Build and maintain an active website. Did you know that Pinnacle will build a website for our agents at no charge!? Keeping this active and making sure your SEO game is strong will mean you come up in their Google searches.
3. Social Media Presence, Facebook is huge in the 65 and old demographic, are you on there?
4. Networking is very important in building your exposure. The more people who know you in the community the more likely they may be an actual sale if not refer you to someone in need. Join your local chamber, volunteer at your local senior center, or sponsor a bingo, these are just a few ways to branch out.
5. When closing a meeting even if no sale occurs make sure you ask for referrals, “Thank you for meeting with me today I appreciate your time and if in passing you can mention me to friends & family in need please do.”
6. Do you know your local broker managers? If not get to know them well. They often have events that may need staffing or lead opportunities, again networking!
7. Before AEP make sure you are reaching out to all your current clients and any prospects you have saved. Whether you host a breakfast reviewing all the plan changes, send out a mailing, or call you to want to touch base. Offer to review their current plan and the changes coming. Also, make sure after 1/1 you are calling them again as a service call. You are calling to make sure they have their ID card and understand their new plan year benefits. Retention is huge, you want to make new sales and keep them on the books.
8. Consider lead Depending on your style and preference you may want to think about doing a mailing, buying phone leads, retail marketing, or conducting a turning 65 dinner seminar. Pinnacle can support all these avenues as your FMO.

TODAY IS ALWAYS THE MOST PRODUCTIVE DAY OF YOUR WEEK.

This is quite a bit to review and understand so why not reach out to us to help you?

See why so many agents are choosing to partner with Pinnacle Financial Services to grow their Medicare Business. Click here to get started