Understanding How Medicare Supplemental Insurance Works

The Baby Boomer generation is a hotly sought after market. Perhaps you’ve already had success marketing to baby boomers. But, you could be missing part of this group. If you are trying to market to a group called “Baby Boomers” you need to take a second look at this market and niche down your target age group.

People have recognized the need to extend help for those who are already nearing the dawn of life that is why the existence of medigap came in. Its goal is to help those who are in their sixties and older have a healthy and better life, it is truly a great blessing to have a medigap when they are in their ripe age because no matter what will happen in their health there is always a company which is ready to help them with their medical bills.

Psssst! Here’s a bit of a tip about medicare supp leads shopping. Stick to smaller health insurance carriers that act as brokers for multiple insurance companies. This is where you will find some sweet deals. While you are at it, make it a point to talk to your local insurance agent who will have even more insider information for you to capitalize on.

Next use an eraser to clear your mind of all previously training given to selling sophisticated life and financial products. Take your bulging brief case and put it somewhere you don’t mind it gathering dust. Cover your computer if you desire, you won’t be using it for work purposes. Buy a binder with pockets and put in a few “guides to Medicare” from the government, along with a legal pad, and a few sales brokerage product brochures.

medicare supplements come in standardized levels. These are the only ones that can be sold. There are about a dozen plans with very plain names like Plan A or Plan L. A Plan A policy will always be the same, no matter which insurer sells it to you. Again, the details of each policy is standard. However Plan A is different than Plan J. Each plan has a different set of benefits.

Sign up for Medicare Part A at 65. With full Social Security retirement at 66+ and the economy, many people are choosing to work past 65. You still need to sign up for Medicare when you turn 65. You can then add on part B once your employer coverage ends.

A Medicare Supplement Plan is also known as a Medigap Plan, because it “fills in the gaps” left by Original Medicare. Remember all of those insurance terms? Deductibles, Co-insurance, etc. These plans (also available only through private insurance companies) pay for some or all of your share of the cost. The plan letter, like “A” or “F” simply have to do with the level of coverage you desire.

commenting closed