This webinar covers the quoting tools and electronic application tool that CIGNA has launched. CIGNA has text messaging capability where you can get instant quotes, which makes it easy if you're in the field. This can alert you by text…
Last week, I was traveling in South Carolina all week and still wrote six applications. How? The hotel where we stayed (Wyndham Wingate) had Wifi that worked just fine with Skype and my plugged in headset. As a matter of…
Covered in this week's video: Equitable Webinar on new Spouse Discounts Outsourcing Webinar – Where, Who, How, Why LIVE Demonstration Video of Actual Sale Oxford Webinar – Life, Medicare, Annuities Unlimited Sales Data for $49.95 per month …
This was an actual sale made March 19, 2014, where I had the presence of mind to not only set up the screen share the way we normally do, but I also started recording the screen so that you can…
What You Need to Know about Taxes! Watch the Full Replay here: *Hosted by Christopher Westfall and Sandy Botkin About the presenter: Sandy Botkin is a CPA, tax attorney and a former IRS trainer. He has been trained millions of…
This post also covers Guaranteed Issue circumstances and the impact that has on your commissions. It is very important to start with this publication.. learn it! Choosing a MediGap policy. (Section 3 on Page 21) [ If you are…
There is a right way and a wrong way to be a Medicare agent.
This was one of my experiences on a cruise to the Bahamas in March, 2014:
WATCH:
If your intention is to build a business BY helping people, you will succeed by putting activity behind that intention.
If, however, you want to make money at all costs, and seriously don't care how you get there, please do not join the ranks of the insurance industry. There are enough agents out here now trying to give us a bad name.
An agent recently asked me, “Is it really possible to succeed, selling Medicare Supplements from home, as a one-man show?”
Yes, absolutely you can succeed at it.
Here are some of the keys to making it as a one-person agency to get started:
This is a company demonstration of the CIGNA Electronic Application. Watching this will save you time and frustration! (This video was from mid-2015) CIGNA's electronic application requires NO physical signature from the client. (This updated video was from January 2016:)…
Medico's New: Hospital Indemnity Plan. This new plan is more competitive, easier to sell, and through their electronic application, easy to enroll. You can contract with Medico now for a pending state and they will begin processing of your contract….
Have you heard someone repeatedly say, “I can't do technology”, or “I don't do computers”, or “Technology is not my friend”, or “I'm not good with computers”? See the video: This is a cop-out from trying UNTIL you get it….
Covered in this webinar are updates on Mutual of Omaha, CIGNA, Equitable, Stonebridge Life Medicare Supplements. <!@split@> Resources: Update 06-22-16 on Medicare Advantage penetration: CIGNA Text Alerts on Your Business – instructions CIGNA Mobile Quotes Instructions CIGNA Instant Text Quotes…
Why?
Because even if the rate is not drastically better today, the renewals surely will be better (for Plan G) tomorrow.
Mutual of Omaha on February 12, 2014 had a post purporting the benefits of Plan G.
See the Mutual Express blog on the topic.
And here is our webinar on this topic.
This was covered in depth for our members in this webinar, where not only are the benefits shown, but the salesmanship to go along with it are explored. The only company in the market paying commissions on the Part B deductible is New Era (and sister company Philadelphia American). This means, with the other companies, you are not getting paid commission on the deductible, anyway.
In my opinion, it is far better to separate yourself from the competition by saving your client the most money today, and at renewal time, by strongly recommending Plan G.
Remember, though, that many seniors just won't get it. Some are not capable of understanding the numbers and just want the convenience of Plan F. Don't be discouraged when you encounter this. They just don't want to be bothered. In the end, the customer is always right, and I'm happy to sell them what they are looking for.
-CW
Last night I was out with my wife and saw, on a restaurant's TV, a commercial playing on the ESPN channel.
The commercial was for SelectQuote Senior – their new senior division, selling Medicare Supplements to seniors.
Upon reviewing their site, they have a very limited, and somewhat outdated, list of carriers that they represent in the Medicare Supplement market. For instance, they're still selling Gerber Life and GPM Life's Medicare Supplement plans, neither of which are competitive anymore.
The fact that such a large company is entering the Medicare Supplement marketplace reinforces that this is definitely the place to be!
The recent report by CSG Actuarial said that the outlook for 2014 and beyond for the Medicare Supplement market is very good.
Proving once again, selling Medicare Supplements by phone CAN be done!
Update since the post:
Comment from Paul in KC:
__________________________________
On Sun, Feb 2 at 11:35 AM , Paul wrote:
A new study by the CSG Actuarial folks says that it is a very good time to be in the Medicare Supplement market.
By Doug Feekin on January 31, 2014 —
Now that we’ve put a wrap on 2013, here’s a 2014 Medicare Supplement market forecast from CSG Actuarial. All in all, it is a very good time to be in the Medicare Supplement market. The market is expanding due to the demographics in the United States and the risk issues of the past few years seemed to have settled down. Most companies are realizing additional profits from lower claim trends and attempting to increase market share.
Claim Trends Stay Lower
CSG Actuarial is projecting that overall Medicare and Medicare Supplement claim trends will continue the pattern from the past three years and remain lower in 2014. Along with the overall lower claim trends, Medicare Supplement Plans C and F should experience further dampening of their claim trends due to the Part B Deductible not increasing in 2014.
Lower Claim Trends | Lower Premium Increases
CSG Actuarial is projecting that these lower claim trends will continue to drive lower and/or delayed premium increases. Overall premium rate increases have declined the past three years and we expect 2014 rate increases to be generally in line with the level of increases implemented in 2013.
Plan G
CSG Actuarial is projecting a continued emphasis on Plan G from some of the primary companies in the Medicare Supplement market. In most instances, the premium savings for Plan G versus Plan F is substantially greater than the out of pocket cost of the Part B Deductible and some agents are starting to put more focus on plans other than F.
Sales, Sales, Sales
CSG Actuarial is projecting continued growth in the overall sales in the Medicare Supplement market. Our current estimate for overall 2014 Medicare Supplement annualized new premium sales is between $3.5 and $3.6 billion. CSG Actuarial expects that at least 10 companies will have Medicare Supplement sales greater than $50 million in 2014.
New Market Entrants
CSG Actuarial is projecting an increase of new entrants into the Medicare Supplement market in 2014. The pipeline appears to contain at least 10 and possibly as many as 15 companies attempting to put new Medicare Supplement products on the street in 2014.
About CSG Actuarial
CSG Actuarial is a leading provider of actuarial and competitive information for supplemental products. CSG has more than 50 years of actuarial experience with pricing, product development and competitive intelligence within the Medicare Supplement, Critical Illness, Cancer, Final Expense, and Hospital Indemnity markets. Call 855-861-8776 or email [email protected] to learn more.
(Remember, you can utilize the CSG Quote engine for free using our tools. See the Tools page.)
As mentioned in the first webinar of 2014, we have a study going on with the following lead sources for the first quarter of 2014.
1) Internet leads targeting Medicare Supplement online leads
– Using AllWebLeads / InsuranceLeads.com
2) Direct Mail to 68-72 year olds. 4,000 pieces mailed, split between:
– Using Kramer Lead Marketing's “Medicare Comparison” piece and
– Using LeadConnections.com “E-80” lead piece
3) Telemarketed Leads using the new discount with the phone room with USA operators.
The study is well underway and updates will be sent to all members when ready.
Covered in this news update video: Two companies launch in Florida: CSI and CIGNA Skype and CallGraph Integration UPDATE NPR Sites the Cabral-Mahony Study on Medigap Kaiser's new study on Medicare beneficiaries Illegal Aliens Taking From Medicare “Under Observation” vs….
In a recent story by Forbes online, they state:
“The Obama team has made a warm embrace of managed care options when it comes to Obamacare and Medicaid. But for Medicare, they want to deny low-income seniors these options. All of the administration's old arguments on why they resisted these private Medicare plans have been largely mooted, or never materialized.”
The Forbes.com article goes on to site a study that says at least 13% of Medicare Advantage plans expect to be eliminated by 2015. The agent in the Medicare market must strongly consider having a deeply rooted anchor in the Medicare Supplement market, as we do.
As always, I'll continue to keep you updated on the changes and opportunities in this awesome marketplace, here on MedicareAgentTraining.com.
Source: More Cuts In Store For Medicare Plans — Here Are The Options That Will Shrink Most For Seniors
http://www.forbes.com/sites/scottgottlieb/2014/01/06/more-cuts-in-store-for-medicare-plans-heres-the-options-that-will-shrink-most-for-seniors/?goback=%2Egde_2479603_member_5826692941543927812#%21
This webinar covered the changes to Medicare for 2014 and how the companies are dealing with the new year. Also, covered lead generation and sales tips for your Medicare Supplement business. Click the image to watch the video: …
Interview with Bob Click the Play button or download to your computer with the down arrow. If the above doesn't work, try this: For today's conference call, I interviewed Bob V. in Georgia. Bob has extensive experience in major medical,…
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