MA sales question

[Winter_123]

Question for the MA vets:

Just as a rough estimate, what per centage of your MA sales are one trip sign up at the first meeting closings versus having to go back because they needed to think it over or talk to the parrot or whatever?

Thanks for any info.

Winter

 

[Superchief]

I don't sell too many MA's - just a few. Mostly I recommend med supp. Also I try and present a complete healthcare package that can compete with an MA on benefits. For example, med supp, plus dental, plus PDP. I just compare everything by benefit and service and out of pocket.

However, to answer your question directly, I'd say 90+% of my sales are done on first appointment. Generally I have it "sold" over the phone, and then write it up on appointment. The only things I've been doing multiple appointments on is LTC. Other than that, the only thing that's multiple is the multiple phone calls it may take to get an appt.

Generally I call and request appt. No appt then I sed info via mail or e-mail. After that, I follow up for appt and keep going until I disqualify them.

 

[scarlett]

We do the same, both my husband and myself are agents. We start with a telephone call and can usually make a judgement call from that conversation what product is best for that client. We do explain MAs and Med Sup to everyone so they are aware of the choices they have. Like SuperChief we feel Medicare Supplement is the best, however some have health issues and some simply can't afford the premium. What has surprised us somewhat is how many clients have chosen the 0 or low cost MA , even though they could well afford the sup. Usually by the end of the call, you know if they are really interested and if they agree to the appt., it is pretty much sold. I would say we average maybe one out of 15 that want to think it over.

 

[Frank Stastny]

Like Scarlett and Superchief, I feel Med Supps are the better choice and my first recommendation. PFFS plans are for those who cannot afford a Med Supp or can't qualify because of health problems.

For both Med Supps and PFFS plans my initial contact is made by phone and I basically sell the plan over the phone and set the appointment to complete the app, get a signature and a check. I also close 90+% of my appointments.

For the most part, if they don't buy the first time, your chances of selling it on the second visit decrease dramatically.

Get good on the phone and you too will experience what Scarlett, Superchief and I are talking about. The phone is your friend, learn to use it effectively.

 

[midwestbroker]

In the metro, when dealing with HMO and PPO plans, I have found that about 70-80% of my clients who enroll do so on the first visit.

That is normally when I am talking MA plan vs MA plan. When they have supplements, usually they are looking at MA plans because they are unable to afford the supplement. However, the majority of my appointments are MA to MA plans.

When I have had to present PFFS plans (I have sold 5 in the last year), there is more hesitations, and that is normally a 2 call close.

 

[senior-advisor-indiana]

I have been tossing around in my head the ethical reasons to put people on a MA plan. Of course it is a no brainer if they cannot afford a med supp. But, if it makes us feel better to put someone on a MA because they can't qualify for a supp, then why shouldn't we also put healthy people on an MA. If it is good enough for someone who experiences alot of claims then it is definetly better for someone who experiences little claims. Am I right? SO everyone should have a MA plan!!!!! Just kidding, I always present med supp first if thats what they have in the 1st place.But our reasons are flawed.

 

[retread]

People want security, including seniors. With all the hubub in the media about Congress cutting back MA funds, and carriers pulling out of MA service areas, or cutting benefits, etc. ... why wouldn't you consider Med Sups a more secure choice if you can afford it? Not everyone buys the cheapest car insurance, or the cheapest life insurance, etc. Sometimes the reasons go beyond price. Long term viability is the issue I see. Med Sups have a good track record. MAs are the new kids on the block. MAs are calendar year products and have annual raises. Med Sups can go many years without premium increases. The problem with waiting until MAs become insolvent before looking for a Med Sup, is that you may not qualify for a Med Sup through underwriting at that time. It is a better strategy to go with a Med Sup now, and if economics dictate a lower expense structure in the future, then look to an MA at that time, assuming they are still around. I think this is a logical approach, and not just an attempt to justify Med Sups.... if you disagree, give me your logic. And hurry up! I'm 64! I am an agent, and I intend to sell myself a Med Sup in a few months!!

 

[Winter_123]

People want security, including seniors. With all the hubub in the media about Congress cutting back MA funds, and carriers pulling out of MA service areas, or cutting benefits, etc. ... why wouldn't you consider Med Sups a more secure choice if you can afford it? Not everyone buys the cheapest car insurance, or the cheapest life insurance, etc. Sometimes the reasons go beyond price. Long term viability is the issue I see. Med Sups have a good track record. MAs are the new kids on the block. MAs are calendar year products and have annual raises. Med Sups can go many years without premium increases. The problem with waiting until MAs become insolvent before looking for a Med Sup, is that you may not qualify for a Med Sup through underwriting at that time. It is a better strategy to go with a Med Sup now, and if economics dictate a lower expense structure in the future, then look to an MA at that time, assuming they are still around. I think this is a logical approach, and not just an attempt to justify Med Sups.... if you disagree, give me your logic. And hurry up! I'm 64! I am an agent, and I intend to sell myself a Med Sup in a few months!!

Without agreeing or disagreeing with what you said, what would you say back to someone who says that an MA is basically a pay as you go plan and that a med supp is a pay every month whether you need it or not plan. And, that if you just applied the money that you saved from med sup premiums and applied it to your MOOP with an MA that you would come out as as well or better.

I don't know. I am just asking.

Winter

 

[retread]

Yes, I use the point of the MA plan being pay-as-you-go vs. MedSups being pre-paid health insurance. This is a given, and I want them to understand this. However, it is mostly a concern for the early years, as most elderly seniors come to the end of their life savings about the time they recognize they should not be planning too far in advance. So an MA plan, for this group, is usually in their best interest. Now those in their 60s are pretty sharp! They are up on the news, and the news, as we all know, sell fear. So to combat anxiety, a MedSup is as effective as anything for a good night's sleep.

What is their economic situation? This is really where the deal turns on MA vs. MedSup. It is their choice, not mine, to make. They have to balance their need for security against saving a few dollars. And let's face it.... if you are striving to serve your clients, you should have a MedSup in your bag that is very close to the annual cost of an MA plan.

I do not want to make my client's "insurance poor", so I advise against heaping benefits up against all possible scenarios, even if money is no object. My approach is to try to be reasonable in all cases. In the end, though, it is their decision. My job is to present them with all their options.

 

[honestagent]

Yes, I use the point of the MA plan being pay-as-you-go vs. MedSups being pre-paid health insurance. This is a given, and I want them to understand this. However, it is mostly a concern for the early years, as most elderly seniors come to the end of their life savings about the time they recognize they should not be planning too far in advance. So an MA plan, for this group, is usually in their best interest. Now those in their 60s are pretty sharp! They are up on the news, and the news, as we all know, sell fear. So to combat anxiety, a MedSup is as effective as anything for a good night's sleep.

What is their economic situation? This is really where the deal turns on MA vs. MedSup. It is their choice, not mine, to make. They have to balance their need for security against saving a few dollars. And let's face it.... if you are striving to serve your clients, you should have a MedSup in your bag that is very close to the annual cost of an MA plan.

I do not want to make my client's "insurance poor", so I advise against heaping benefits up against all possible scenarios, even if money is no object. My approach is to try to be reasonable in all cases. In the end, though, it is their decision. My job is to present them with all their options.

Great post!