Experienced insurance agents believe that some Medicare supplement leads are better than others. Medicare supplements are one niche where telemarketing and phone leads work remarkably well.
However, for many insurance businesses, finding a good medicare supplement lead generation company comes down to trial and error, just like figuring out which lead generation strategy works best.
According to LEADARO, a recommended lead generation company that provides medicare supplemental & medicare advantage leads:-
In the long run, the best Medicare supplement leads are:
- The one that you can afford to pay for.
- The one with the most reliable & consistent results/conversions.
In fact, most successful Medicare supplement agents buy more leads each and every week like clockwork from reliable lead generators.
By hiring the right Medicare supplement leads generation company, you can enhance the whole insurance sales process. Having said that, many agents simply have no clue on how these leads work or what the benefits are.
Medicare supplement leads are hot and are a terrific means to accomplish a solid residual income.
Buying “warm leads” or live transfer medicare supplemental or medicare advantage leads can be real game-changer for you as an individual agent and for any kind of business you’re looking to get up and running.
While live transfer leads can usually drive highest conversions, you need to be familiar with several advantages of telemarketing leads and direct mail leads with regards to Medicare supplements.
Believe it or not, telemarketing works well for Medicare leads on a couple of different levels. First, telemarketing leads are very cost-effective for businesses of any size. Second, these potential clients are high-quality because they are a very receptive and targeted audience.
Think it over: almost everyone who turns 65 gets Medicare benefits. By targeting those who will turn 65 or 68 in a few months, you can significantly boost conversions and sales by saving them money!
So what is the most important benefit of telemarketing Medicare supplemental leads?
Telemarketing leads are quite inexpensive compared to other types. But they aren’t just cheap. They are also high quality.
Medicare supplement telemarketed leads gets us in contact with qualified leads.
So when you understand specifics of both the product and the demographic, Medicare supplements work the same as any other insurance plan.
Live phone transfer of these warmed up leads are great options to buy, and the sales strategies that have worked for you in other fields will work as well in this field, if not better.
Based on other insurance agents’ experience this demographic is generally more receptive than most to what you have to say!
Direct Mail Medicare Lead Generation
In most cases, direct mail gives you a “quality over quantity” solution to Medicare lead generation. That’s mainly because even though many may throw the mail out, those who do fill out the form will probably be very enthusiastic about learning more.
All in all, you are likely to get more results (and more consistent conversions) using direct mail. To improve your results, though, you ought to buy both telemarketing and direct mail leads.
Or better get them transferred to you “warm” on the phone.
Medicare Supplemental Insurance is a Big Business
Developing a residual stream of income offers you the flexibility to extend your functions and start learning how to cross-sell other lines and smartly round out your book of business over time.
Baby Boomers are aging at speedy rates thus, building a net of opportunity for any insurance business to start selling med supps (Medigap, as CMS calls them).
Insurance carriers pay the same commission rate for seven years and a few even pay for life. In addition, Medicare health insurance sales are at an all-time high due to growing seniors population. The U.S. Census affirms that by 2040 there will be about 82.3 million seniors.
What is Original Medicare?
If you are an insurance agent or broker you must have an excellent understanding of Medicare to sell medicare supplemental plans effectively.
Original Medicare incorporates parts A and/or B. This insurance coverage is offered straight from Medicare and provides 80% after deductibles and coinsurance. The rest of the 20% liability is the reason seniors look for supplemental coverage.
This is a brief summary of Medicare plans, but it will give you a great starting point.
What is Medicare Part A?
Part A is Medicare coverage accountable for hospital-related bills. Typically, Medicare Part A does not necessarily call for a monthly premium as it was financed through a person spending a minimum of 10 years of Social Security taxes through payroll.
Thus, most people earn Medicare Part A.
In cases where an individual didn’t earn Medicare Part A, it can be bought. It might cost them upto $413 per month in 2020.
Below are some examples of Medicare Part A covered services:
- Blood transfusions
- Home health services
- Hospice care
- Inpatient hospital care
- Skilled nursing facility care
Gaps in coverage with Medicare Part A may lead to some of the largest financial risks for your clients which is why many brokers frequently cross sell ancillary insurance.
What is Medicare Part B?
Part B is Medicare coverage is responsible for medical-related expenses.
When your clients are first eligible for Medicare, they have a 7-month initial enrollment period (IEP), which begins 3 months before the month they turn 65, their birth month and ends 3 months after.
Below are some common examples of Medicare Part B covered services:
- Doctor’s visits
- Ambulance services
- Ambulatory surgical centers
- Blood transfusions
- Bone density tests
- Breast cancer screening
- Cardiac rehabilitation
- Cardiovascular disease
- Cervical screenings
- Diabetes screening
- Chronic care management
- Colorectal cancer screenings
For more information and references to complete list of Medicare Part B-covered services, go through Pages 29-49 of the 2020 Medicare and You Handbook.
Part B needs to be paid a monthly premium which is, generally, taken off from the individual’s Social Security check each month. Part B rates can be as low as $134 or as high as $428.60.
What is Medicare Part D?
Medicare Part D is what addresses prescription drugs and also carries a monthly premium.
Part D plans stick to the annual election period (AEP) schedule and can be modified every year between October 15th and December 7th. Seniors should review these plans annually because the tiers and copays can change.
What are T-65 Medicare Supplement (Turning 65 Medicare Supplement Leads) Leads?
T-65 leads are people who are turning 65 in the next three to six months and it’s a terrific way to have someone to call regularly as they are potential clients.
You can actually buy T-65 leads from a good Medicare lead provider and have a list generated the same day. However, live transfer medicare leads from companies like LEADARO have the best conversion rates.
Have those live phone calls of “warm leads” interested in purchasing Medicare plans transferred to you. Just pick up the phone, smile and start selling or setting Medicare Supplement sales appointments.
Medicare Advantage (Medicare Part C) Leads
Medicare Advantage, also known as Medicare Part C, is a quite rewarding insurance product for agents to sell. Leadaro’s Medicare Advantage leads are generated from very targeted advertising campaigns.
Their SEO, inbound, TV ads campaigns are leads generators of a continuous flow of high-quality Medicare Advantage leads which their leads buyers close.
As Baby Boomers age into the senior market, the Medicare Advantage market by 2060 is going to increase by 100%. Consequently, Medicare Advantage policies will be a revenue-generating product for insurance agencies and agents.
A Medicare Advantage lead generation company like Leadaro places your business in front of those actively looking for Medicare Advantage policies, by delivering the amount of quality real-time leads your agents are working with at any time.
Fill up your agent’s or salespeople’s pipeline with potential sales opportunities and increase both close rates and revenue for your business.
While purchasing live transfer real-time medicare advantage leads, a company can also benefit from some of the best audience targeting.
Income targeting– households on a budget are more probably interested in affordable healthcare options like Medicare Advantage plans.
Age targeting– We can effectively target people aged 60 and over.
Health targeting– Seniors in good health have more affordable insurance policies. Seniors without significant medical conditions are more inclined to buy Medicare Advantage than those with serious medical conditions, mainly because Medicare Advantage requires a co-pay.
Leadaro has the ability to target the exact seniors your agency needs to see the most growth in Medicare Advantage (Part C) policy sales.
How to Increase Revenue by Selling to Medicare Leads Over the Phone?
So, first of all you require a regular flow of leads every day to work. Fix a budget for 20-100 new Medicare leads per day, according to your business requirements. Over time, you’ll develop a solid list of potential buyers to call. Here are various way to get leads:
- Telemarketed Leads
- TV Leads
- Direct Mail leads.
- Live transfers (warm leads) – Generally the best conversion rates/closing ratio. Refer to Leadaro’s pricing.
Remember, in medicare supplement and medicare advantage, if you get in front of the prospect first you will substantially increase your close rate.
Telemarketer-There are some sales models and proponents of hiring your own off shore telemarketer to dial T65 data to generate leads. That might work for some businesses, however diversifying your leads is still important. Another way is to check out Upwork and find a freelancer that has experience with lead generation or hire a lead generation company that diversifies its leads sources and lead generators, like Leadaro.
CRM-You need to stay organized with your Medicare leads and a CRM is an efficient way to do that. There are tons of choices, but some of the well known options for HIPPA compliant CRM for telesales are SalesForce, Hubspot, Zoho etc. If you are doing your own lead generation using digital media, you may also use Click funnels.
As mentioned earlier, Baby Boomers ageing into the senior market will double the Medicare Advantage market by 2060. So, Medicare Supplemental and Medicare Advantage policies will be HOT revenue-generating products for insurance agencies and agents, for many years to come!
Hiring a real time Medicare leads generation company/service like Leadaro places your business in front of those actively looking for Medicare Advantage policies.
Interesting Related Article: ” What to Do to Benefit from Your Medicare Plan“