Independent insurance agents or brokers are sometimes hesitant of diving deep into the Medicare Advantage world. Today, we want to showcase some of the best reasons why as an agent it is worth considering not only for you, but your clients. So, let’s jump right into it!
1. The Medicare Advantage market is growing exponentially and offers more products and options to your clients than ever before! Medicare Advantage is here to stay with roughly 60% of all Medicare products being sold across the nation being Medicare Advantage. Every year more and more of your clients are leaving traditional or original Medicare for Medicare Advantage products. Last year alone over 24 million people enrolled in a Medicare Advantage plan!
2. Higher commissions than Medicare supplement for independent insurance agents. Need we say more? Medicare Advantage compensation also continues paying insurance brokers for the life of the policy.
3. Additional benefits for your clients. Who would not want that? As an insurance broker, you can offer additional services and benefits that traditional Medicare does not offer. It is a win/win situation. Your clients can receive added value with benefits such as transportation, telehealth benefits, OTC drugs, vision and dental, in-home support services, rewards for attending checkups and completing activities, and more! Your clients will love the additional perks and variety of benefits a Medicare Advantage product can add to their health insurance and lives.
4. $0 Premium options. Medicare Advantage premiums are on the decline over 34% since 2017, while Medicare supplement premiums are increasing. According to CMS, the average Medicare Advantage premium in 2021 will be the lowest it’s been in 14 years!
Adding Medicare Advantage to your portfolio is a no-brainer and your clients are sure to thank you for it! Want more information on selling Medicare Advantage products? Contact one of our account executives: 1800-806-2527.