Agent Broker Compensation

Most of the time, you'll never even need to reach out to carrier reps. Instead, you'll have access to a wide variety of training sessions made available each week to broaden your knowledge of how to sell Medicare. As an insurance agent, you know how important it is to help protect your clients' finances. However, don't underestimate the value of protecting yourself as well.

Another option for Medicare recipients is to stick with Original Medicare and supplement it with Medigap coverage to help cover some of the costs of care. These plans tend to be more expensive for the plan holder but less lucrative than Medicare Advantage for you as an agent. Commissions are based on a percentage of the Medigap premium, rather than flat rates as with Medicare Advantage or prescription drug plans. This one is tricky because it’s possible that you may be able discuss some ancillary plans during a Medicare sales appointment, but that’s only if your client has checked off those boxes on their Scope of Appointment.

Whether you choose to be an independent insurance agent or work with a team, you can build and maintain a good business selling Medicare Advantage plans. The key is to stick with it and cultivate a long-term client base. ‌You can make a difference and a good living by selling Medicare Advantage plans. To get started, you'll need to learn about the different coverage options and rules for eligibility. You'll also need to get licensed, connect with carriers, and complete some training. This Content is for informational, cost-comparison purposes only.

Aim for a variety of plans so that you can meet these different needs. Certain carriers allow you to skip the contracting process if you already sell their other products. Others require you to contract for each new product line you sell. Double-check with your point of contact at each carrier to make sure you understand the proper procedure.

Many carriers have minimum product requirements, for example, at least one enrollment per product. Most new agents want to rush in and offer every Medicare Advantage plan from day one. It's an understandable ambition, but it can quickly become overwhelming. Once you've started selling, you'll need to recertify with each carrier annually. Doing so ensures that you stay up to date on Medicare regulations and the yearly shifts in each carrier's offerings. Starting early also means that you can begin onboarding more clients earlier.

If you want to buy a Medicare Supplement Insurance policy after your open enrollment period, insurance companies may use medical underwriting and set the premium based on your current health condition. They may also refuse to sell you the policy based on any health issues you have. A Medicare agent or broker can help you figure out if you’ll meet the underwriting requirements for the plan you want. We can help you select Original Medicare or Medicare Advantage plans to ensure that you have everything taken care of under your plan.

We may share personal information with other third party companies that we collaborate with or hire to perform services on our behalf. For example, we may hire a company to help us send and manage email, and we might provide the company with your email address and certain other information in order for them to send you an email message on our behalf. Similarly, we may hire companies to host or operate some of our websites and related computers and software applications. For example, if you have purchased a product or service from us, we may combine personal information you provide through this website with information regarding your receipt of the product or service.

This can include many things such as shots or vaccines that are recommended by healthcare professionals. There's a wide array of software solutions available to make it easy for you to provide clear and accurate Medicare quotes for your clients. Choose one that allows you to offer quotes from several carriers at once, build in discounts, and estimate healthcare costs so they can get a full view of their options.

If you enrolled in Medicare Supplement or Medigap, you can change your plans anytime but you may be subject to underwriting. Although there is no requirement to work with an agent or broker, you may choose to do so for the following reasons. Nectar draws on a variety of marketing methods to identify high-intent Medicare shoppers across several different websites.

These organizations have connections with multiple carriers and can offer you more connections and better commissions than you would earn by trying to work directly with individual carriers. They also often offer assistance with training and certification requirements. To sell Medicare Advantage plans, you'll have to complete the America's Health Insurance Plans certification in addition to each carrier's compliance medicare agent and product certifications. These certifications exist to help protect seniors and reward agents who do things the right way. When it comes to considering your Medicare options, you can spend hours doing your own research or you can speak to a local, licensed agent with HealthMarkets. Your agent will compare your options to find the coverage that’s right for you … at a price that fits your budget.