Change is a constant in this biz, get over it, and find ways to leverage it instead.
I get it, getting hit on your income can be a blow, but many agents out there have never been paid on a PDP, but they continue to service their Med Supp clients, are successful, and continue to grow. For those even considering kicking their clients to the curb because you're not gonna be paid the small amount of PDP commission, then you're being very shortsighted in this long term strategy type of business.
Your clients are like gold, if you don't have any, or lose some this AEP; what the carriers do w commish, or the # of carriers available doesn't matter if you don't have clients. Retention is key, and there is an opportunity for referral growth if you approach it correctly.
You'll never hear a client say "Jane, you're turning 65?, Let me refer you to my awesome Medicare Agent. He was of great help for the past couple years, and then bailed on me when things got a little tough, and wouldn't talk to me for 15-30 min a year for the daily meds I take. Instead, he sent me to 800# in a foreign country, even though they still get a commission on my med supp".
Instead, your yearly email might say something to leverage the clients sympathy for you:
"Dear Client, Lots of changes in 25' PDP market (list them), unfortunately most carriers will not be paying agents a commission, but I will still be here for you to help navigate this fiasco the gov't has created. I know things will eventually change again in this market, and my business will survive. But to make up for my lost income, I'd really appreciate if you kept me in mind and refer your friends/family turning 65, and for those on a MAPD plan now".
I promise you that your phones and emails will be flooded w referrals. Your clients respect you, and they hate the gov't and carriers. They will probably forward the email to all their friends, with a note stating "this is why he or she is my agent".
I won't be sending this type of email, as the changes don't affect me, nor do I want more referrals then I can handle at this time. I'll get the 30+ referrals naturally during my 700+ discussions this AEP/OEP.
A few years ago, I removed "Thank you in advance for your referrals" from my email signature line to slow down the flow. Another suggestion if you are not doing this already. It's a soft way of asking for referrals.
YMMV. If you like the above email, I just gave you my advice and time for free. Think about THAT for a minute.
I get it, getting hit on your income can be a blow, but many agents out there have never been paid on a PDP, but they continue to service their Med Supp clients, are successful, and continue to grow. For those even considering kicking their clients to the curb because you're not gonna be paid the small amount of PDP commission, then you're being very shortsighted in this long term strategy type of business.
Your clients are like gold, if you don't have any, or lose some this AEP; what the carriers do w commish, or the # of carriers available doesn't matter if you don't have clients. Retention is key, and there is an opportunity for referral growth if you approach it correctly.
You'll never hear a client say "Jane, you're turning 65?, Let me refer you to my awesome Medicare Agent. He was of great help for the past couple years, and then bailed on me when things got a little tough, and wouldn't talk to me for 15-30 min a year for the daily meds I take. Instead, he sent me to 800# in a foreign country, even though they still get a commission on my med supp".
Instead, your yearly email might say something to leverage the clients sympathy for you:
"Dear Client, Lots of changes in 25' PDP market (list them), unfortunately most carriers will not be paying agents a commission, but I will still be here for you to help navigate this fiasco the gov't has created. I know things will eventually change again in this market, and my business will survive. But to make up for my lost income, I'd really appreciate if you kept me in mind and refer your friends/family turning 65, and for those on a MAPD plan now".
I promise you that your phones and emails will be flooded w referrals. Your clients respect you, and they hate the gov't and carriers. They will probably forward the email to all their friends, with a note stating "this is why he or she is my agent".
I won't be sending this type of email, as the changes don't affect me, nor do I want more referrals then I can handle at this time. I'll get the 30+ referrals naturally during my 700+ discussions this AEP/OEP.
A few years ago, I removed "Thank you in advance for your referrals" from my email signature line to slow down the flow. Another suggestion if you are not doing this already. It's a soft way of asking for referrals.
YMMV. If you like the above email, I just gave you my advice and time for free. Think about THAT for a minute.
