As co-owner of an agency that specializes in Medicare products, I'm often asked by industry colleagues whether we have “made the switch” to selling Medicare Advantage products. Certainly Medicare Advantage plans have become popular among seniors in recent years due to their low premiums and built-in drug cards. But we still find the Medigap market to be a thriving one, with nearly 70 percent of our client base opting for these traditional and comprehensive plans.

The obvious next question, then, is: How do we sell against Medicare Advantage plans, which are so much cheaper? The answer is that we don't sell against anything. We educate and then let our clients decide.

Perhaps one of the best things about working the senior health insurance market is your role as an educator. We explain to prospective clients that for most beneficiaries there are two primary coverage choices: Medicare Supplements or Medicare Advantage plans. Then we outline the benefits of each type of insurance and let them decide.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.