3 Methods to Boost Your Medicare Business

When thinking about improving your insurance business, it can be overwhelming to know where to start. That’s why we recommend focusing on three basic methods for Medicare sales growth.

If you’re an agent just starting out or one struggling to find prospects, it may be time to return to the fundamentals. Your insurance business needs a strong foundation before you can meet more potential clients and improve your Medicare plan sales strategy.

First, you need a diverse and attractive portfolio. Second, you need technology to simplify the selling process. And third, you need to be seen in your community so you can bring in quality Medicare leads.

1. Invest in a Well-Rounded Portfolio

There’s no such thing as one plan to rule them all. Your clients’ health, needs, income, and general preferences may vary greatly from one to another. A Medicare Supplement plan isn’t suitable for every client, just like a Medicare Advantage (MA) plan won’t work for everyone. To bring in a wider net of leads, it’s important to offer many different options that can meet your clients’ or your prospects’ needs.

There’s no such thing as one plan to rule them all. Your clients’ health, needs, income, and general preferences may vary greatly from one to another.

Medicare

With sales opportunities abound, it would be a shame to miss out on being able to serve a client — or a potential insurance client referral — due to a limited portfolio. While some agents shy away from offering MA plans due to compliance and training requirements, the numbers show that MA enrollment is steadily on the rise.

KFF’s analysis of CMS enrollment data shows that, in 2024, 54 percent of all Medicare beneficiaries are enrolled in MA plans, and this number is expected to increase.

To meet the needs of different prospects, we recommend offering, at minimum, the following lineup of Medicare options:

  • Two MA plans
  • Two Med Supps
  • One standalone prescription drug plan (PDP)

More isn’t always better, but we recommend being able to give your clients some options (e.g., an MA national carrier and a regional carrier). Don’t self-sabotage your insurance business’ success by not, at least considering, expanding your Medicare portfolio.

Ancillary

Obviously, there’s more to health insurance than primary coverage. By completing your portfolio with ancillary plans, you can promote yourself as a full-service agent. In addition to Medicare plans, consider offering insurance for:

  • Dental, vision, hearing (especially if you sell Med Supps)
  • Heart attack, stroke, cancer, or critical illness
  • Hospital indemnity (especially if you sell MA)
  • Short- and long-term care
  • Final expense

Offering ancillary plans not only creates multiple sales for a single client but increases the potential for you to be referred to others as well.

By completing your portfolio with ancillary plans, you can promote yourself as a full-service agent.

Under-65 Health

Have you ever considered adding under-65 health to your portfolio? Selling ACA plans can create a natural pipeline to the Medicare side of your business and give you a steady stream of commission (because carriers typically pay commissions per member per month). You’ll also be in a better position to help spouses, family, or friends of your current clients who aren’t Medicare eligible yet.


In addition to having a dedicated Under-65 Health team ready to help you enter the marketplace, Ritter offers comprehensive resources, like our free guide, The Complete Guide to Selling Affordable Care Act Insurance Plans!



2. Utilize Available Technology to Make Your Job Easier

Thanks to e-Apps and online tools, technology can be an agent’s best friend. For instance, BenefitsCheckUp® is a great website for finding additional benefits your clients may qualify for.

Here are some other tools that can help streamline your operations.

Contract Now

Have you found contracting too cumbersome? What if there were one place you could go to add multiple contracts you want to a cart and submit it all digitally? Ritter’s Contract Now tool means you don’t need to complete and call or mail/email/fax different contracts to different carriers. You can do the necessary paperwork from within Ritter’s Platform, and we get it into the right hands, keeping you updated along the way.

Upon registering with Ritter, you’ll need to call your sales specialist first to gain access to Contract Now. Then, contracting is as easy as shopping online. Our full-time licensing department will handle the rest.

PlanEnroll & MedicareCENTER

Integrity’s PlanEnroll tool can make completing Medicare enrollments convenient and simple, allowing for a nice Medicare sales boost. This consumer-facing platform enables those eligible for Medicare to learn about their coverage options, choose the type of product they would like to explore, and review their coverage on their own time and devices, all from your branded site. It provides you with a turnkey digital marketing solution! With Medicare plan options available from many industry-leading insurance companies, your independent clients are sure to find the right product to fit their needs through PlanEnroll!

PlanEnroll enables those eligible for Medicare to learn about their coverage options, choose the type of product they would like to explore, and review their coverage on their own time and devices, all from your branded site.

Agents can get their own PlanEnroll site by completing a simple sign up for MedicareCENTER, Integrity’s client relationship management (CRM) system. Signing up for MedicareCENTER makes things even simpler for your business and unlocks all of Integrity’s industry-leading resources and technology. Store and track all the relevant client details you need in this powerful CRM and quote and enroll on your own device during appointments!

Have questions about when to use PlanEnroll vs. MedicareCENTER? Check out our MedicareCENTER & PlanEnroll FAQs post or reach out to your sales specialist.

3. Get Involved in Your Community and Surrounding Areas

Any agent will tell you, referrals are some of the best Medicare leads. When you get a new-to-Medicare client, it’s likely that they will have other friends and family that are, or will soon be, new-to-Medicare as well. Setting yourself up in your community, whether it be your local school board, church, or volunteer group, provides ways to find prospective enrollees on your own stomping grounds.

Forming an affinity partnership can be a wonderful way to grow your business. One relationship with a primary care provider can be a goldmine of referrals. Working with another business or group can also boost brand awareness of your insurance business in the community at large.

If you want to widen your client base and reach the dual-eligible population, consider volunteering at soup kitchens or setting up a booth at a discount supermarket. Not only will you give back to your community, but also generate leads for Dual Eligible Special Needs Plans (D-SNPs).

Of course, staying compliant should be a top priority, but if you become known as the agent who helped people find the right health plan, the word will get out. To reach a whole group at once, you should consider hosting an educational or sales event. Familiarize yourself with Medicare educational event guidelines and the Medicare Communications and Marketing Guidelines before planning.

People want to work with someone they know, someone they can trust. By getting out there, getting involved, and contributing to the community, you not only spread awareness, you contribute to your true place of business: your own community.

Check out more ideas for getting involved in your community and generating insurance leads in our post, Community-Based Marketing for Insurance Agents

Lay the Strong Cornerstone

If you’re struggling with health insurance lead generation and your Medicare insurance sales need a boost, embrace the basics and build a stronger foundation. Make this year better than the last by investing in your portfolio, becoming comfortable with technology, and getting involved in your community.

Ritter is here to help you with “how to sell Medicare” basics and beyond. We’re a top FMO providing sales support, competitive contracts, and useful sales technology. Register today to boost your Medicare business even more!

Not affiliated with or endorsed by Medicare or any government agency.

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