Agent Commissions in Medicare and the Impact on Beneficiary Choice
Choose one that allows you to offer quotes from several carriers at once, build in discounts, and estimate healthcare costs so they can get a full view of their options. Another option for Medicare recipients is to stick with Original Medicare and supplement it with Medigap coverage to help cover some of the costs of care. These plans tend to be more expensive for the plan holder but less lucrative than Medicare Advantage for you as an agent. Commissions are based on a percentage of the Medigap premium, rather than flat rates as with Medicare Advantage or prescription drug plans. Just as with selling other types of insurance, you'll generally need a health insurance license to sell Medicare plans. And set reminders to follow up or reconnect on a regular basis. Once you start connecting with prospects, it's important to make sure you have all the tools you need to make the sale. Consider pre-ordering your kits so that your requests are at the top of the list when your carrie...