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Stay Informed: You'll receive updates on the latest developments in the insurance industry, particularly in the senior insurance market. This includes changes in regulations, new insurance products, and market trends.

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Engagement: You can engage with Precision Senior Marketing by asking questions, offering comments, and participating in discussions, fostering a sense of community and mutual learning.

We hope you enjoyed last week’s edition of Marketing Masterminds. In this session, Bobby and Brian further reinforced their sales process and answered live questions from our attendees.

If you couldn’t make it, we recorded the session for you to watch by clicking this link.

A copy of Bobby and Brian’s sales process is also available here.

Want to join us for another Q&A session? We’re hosting 2 more during AEP that you can register for by clicking either of the links below!

Thursday, November 9 at 1:00pm ET

Wednesday, December 6 at 1:00pm ET

As a PSM producing agent you have the opportunity to tap into our Top Flight Lead Incentive awarding you with $430 per 10 Medicare Supplement or Medicare Advantage sales to use for leads or other Medicare Marketing initiatives.*

This $430 credit per 10 sales can be used for initiatives including:

• 1,000 piece direct mail campaign
• Facebook Advertising / Marketing Campaign for Medicare
• Internet leads or another vendor specifically for Medicare (Buy the leads, send us the invoice, and we will reimburse you back up to $430)
• Medicare Advantage Sales Seminars and Educational Events
• E&O Reimbursement
• Annual membership to ReferMe IQ Referral Platform

* Street level contract direct to PSM  /  * Med Supp GI Business not included

In addition to our Top Flight Lead Incentive, we also provide the following value-added benefits:

• 50/50 co-op for Medicare Advantage Marketing* - we will reimburse half of what an agent spends on their Medicare marketing initiatives. For example if an agent spends $2,000 on their Medicare Marketing, we will reimburse $1,000 as long as we have receipts / invoices to show $2,000 was spent on Medicare Marketing.
  * Requires prior approval
• Access to Retail Programs at Wal-Mart during AEP for lead generation activities & sales events.  
• Connections to local market managers for certain carriers to provide local trainings and hands on events for Medicare Advantage, Special Needs Plans, and Dual Eligible Plans.
• Access to a remote enrollment system allowing agents to compliantly write Medicare Advantage and Prescription Drug applications electronically and by phone.
• Comprehensive quoting software from CSG that quotes ALL carriers in the US for Medicare Supplements, Medicare Advantage, Prescription Drugs, Hospital Indemnity, Dental, and Final Expense plans.
• Comprehensive training videos with assessment tests at the end to test knowledge and move toward becoming an expert.
• Open Release Policy – we will not hold you captive.

At PSM we offer the industry's leading carriers, with the highest attainable contracts, along with the tools, resources and incentives necessary to grow your business and succeed in a booming market. We look forward to working with you!

Related Article: “The Benefits of Working with an Insurance FMO”

Ask any successful Medicare Advantage producer what they are most likely to cross sell with every Medicare Advantage plan sold and you’ll likely hear the same response… Hospital Indemnity.

While Medicare is important to have, it may still leave gaps in coverage that a policyholder is responsible for. 

For instance, most Medicare Advantage Plans don't cover the first 4 to 7 days of a hospitalization. Per the American Hospital Association (AHA) Hospital Statistics, the average hospital stay costs over $10,000, but can vary widely.

A Hospital Indemnity plan can help bridge the gaps left open from a Medicare Advantage Plan, by providing a direct cash benefit to the policyholder.

What are the Benefits of a Hospital Indemnity Plan?

• Hospital Confinement Co-Payment Coverage - Up to 31 Days
• Ambulance Transportation
• Emergency Room Coverage
• Laboratory & Radiology Benefits
• Skilled Nursing Facility Benefits
• Primary Care Doctor Office Visits (No Prior Hospital Stay Required)
• Annual Wellness Benefits
• Preventative Care Benefits

Another gap that some Hospital Indemnity plans may help with are hospital visits that are designated as "observation status". Observation status encompasses care received in a hospital without being admitted.

Here's an example:

If you go to the hospital complaining of abdominal pain, you may be placed in a hospital room or bed. This allows the doctor to monitor your condition while performing diagnostic tests to determine the cause of your pain without formally admitting you. 

Observation status is mainly a billing designation, but it matters since services received while under observation are not covered by Medicare Part A.

Medicare Part B will cover 20 percent of the Medicare-approved amount for any services received. If the beneficiary does not have Part B, then they are responsible for 100% of the costs incurred while under observation.

For most people, the out of pocket costs of having these gaps in coverage can be devastating. The right hospital indemnity plan could help ease that burden and make for a very affordable alternative to help your clients cover the unexpected.

When Can You Sell a Hospital Indemnity Plan?

The Centers of Medicare and Medicaid Services (CMS) have said that a Hospital Indemnity Plan can be marketed and sold during a Medicare Advantage appointment as long as it was agreed on the Scope of Appointment form.

You can also go back to your current clients with Medicare Advantage and do a basic Needs Analysis to see how the Hospital Indemnity Plan will benefit them and limit their out of pocket costs. 

Relative Cost of a Hospital Indemnity Plan

Of the 20,400,000 people currently enrolled in a Medicare Advantage Program 46% are on a zero-premium plan.

Indemnity medical insurance costs depend on your age, the amount of coverage you want and the indemnity insurance company. You can buy coverage per individual or per family. For the benefit that a hospital indemnity insurance plan provides, the cost is relatively inexpensive.

When you sell a $0 or low cost Medicare Advantage Plan, this allows budget flexibility with a majority of consumers to cover the gaps left behind. 

With a lower premium Medicare Advantage plan, your clients can entertain a Hospital Indemnity plan without breaking the bank and have peace of mind and a sense of security.

PSM offers several Hospital Indemnity options for your portfolio. We have plans from Aetna, Sentinel Life, Equitable Life, GTL, Heartland National and Medico.

If you have any questions, please give one of our experienced marketers a call at 1-800-998-7715 for more information on this versatile product for your insurance clients.

[Ask About our Hospital Indemnity Offerings]

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“Cross-selling occurs when an opportunity to sell a Medicare plan is also utilized to sell a non-health related product (such as life or home insurance or financial planning services). This activity is prohibited by CMS during individual appointments, marketing/sales events or when providing Medicare plan enrollment materials to consumers. Review the current Medicare Advantage Marketing Regulations and make sure you’re complying with Medicare’s rules regarding cross-selling.”

*For Agent use only. Not affiliated with the U. S. government or federal Medicare program.

Why Agents Should be Selling Cancer, Heart Attack, and Stroke Insurance

As a Medicare agent it can be tricky to explain to a client who already has Medicare and Medicare Supplement insurance why they may need additional ancillary insurance coverage.

Sales and Marketing = Creation and Capture

No one works in sales without having losses. Some of those losses are the result of errors, bad choices, poor strategy, or sloppy sales approaches. Some of those losses are the result of circumstances that are difficult to overcome. You can do everything right and lose, and you can do many things wrong and win. Either way, losses come with the territory.

Client issues are also part of sales. Even if you own the outcomes you sell your clients with someone else being responsible for doing the work that generates those outcomes, because you promised your client better results, they are going to look to you for help and for answers. You are accountable for the outcomes you sell, or you put future deals at risk (or more likely, you never see the new opportunities at all).

Selling is made up of two major outcomes. The first outcome is opportunity creation, and it requires that you do the work of prospecting, whether you like that work or wish there was another way. The second outcome is opportunity capture. The first outcome always precedes the second. The workload for opportunity creation is equal or greater than the workload of opportunity capture.

There will always be someone with a lower price that sells by suggesting they can produce the same result at a lower price point. Much of the time, these competitors will have an irrational pricing model that would cause you to lose money, and you will struggle to understand how they stay in business. But when they have been in business for decades, the only way you beat them is by creating greater value, not by explaining that they can’t survive with their pricing model.

Selling is not situational. It is individual. There are always salespeople who succeed at selling the most commoditized, undifferentiated products and services and do well for being able to so. There are also people in sales roles with the most compelling, differentiated offer who struggle to sell what should be a much easier sell. There are intangibles that count for a lot more than most people recognize, and these tangibles are not commonly taught or developed. Success then, is a product of developing yourself.

Source: https://thesalesblog.com/2018/01/09/a-few-observations-about-sales-and-salespeople/

Are you looking for Pre-Approved Medicare Marketing materials?

Great news! We are here to assist.

We are pleased to provide you with a library of pre-approved marketing materials to help you retain and grow your book of business. 

These pieces have been created to engage consumers and motivate them to consider working with you to meet their Medicare needs.

In today's competitive market, it is helpful to have marketing materials that help you stand out with potential clients.

We also understand the challenge of coming up with something creative and engaging, in addition to adhering to CMS guidelines.

Lucky for you, we have worked with our carrier partners to make sure our agents have access to not only carrier approved marketing materials, but also a library of generic pre-approved Medicare marketing materials. Get your free marketing materials here.

Direct mail is an effective means of driving response among Medicare eligibles. It allows you to target your message to specific people at specific times. 

Even though direct mail is considered more effective than other mass media options, it is important to do everything you can to help maximize your success.

Here are some tips to follow:

• Use a targeted and proven mailing list - Data has shown that consumers 65-75 are more likely to switch Medicare plans than their elder peers. So be sure that segment is included in your mailings.
  
• Segment your list - For Medicare prospects, low-income targets will likely respond better to low-price messages while higher-income prospects might be more attracted to value-added benefits or expansive network messages.
• Test your messages / creative executions - For Medicare marketing, it may be wise to execute A/B mail splits - dropping different messages to segments of the same audience at the same time. This will allow you to determine which messages are getting the best responses.
• Commit to a mailing plan based on your overall marketing activities - Mailboxes will be full especially during AEP, but you can't afford to be absent. If you sprinkle your marketing plan with other media exposure and events, your piece will like be more recognized in the mailbox and read.
• Think about consumer's behavior when planning your marketing - First they will research plans, then they'll shop, then they'll decide. You want to be present and available at each of these steps!
  

Marketing Pieces Include:

Age-In, CSNP, DSNP, Educational, Generic and more

To request access and speak with a marketing Representative about what pieces are available and how to have the customized, Get your free marketing materials here.

You can also call us at 800-998-7715 and speak with one of our friendly marketing representatives.

Carrier specific resources available through of our partners: Humana, Aetna, UnitedHealthcare, Cigna