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Building Your Medicare Business After the Annual Enrollment Period

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La Rae Mills
La Rae Mills December 12, 2023

La Rae provides leadership to the Insurance Operations team and oversees the creation and management of processes and compliance for the team. She also leads the Medicare segment of the business. La Rae works closely with carriers and agents to ensure we’re in compliance and working as efficiently as possible.

Although there’s a lot of focus on the Medicare Annual Enrollment Period (AEP) during the fall, that doesn’t mean there is no opportunity for Medicare business throughout the rest of the year. In fact, a solid business is built during the year outside of AEP.

Seek out people who are turning 65.

With over 10,000 Baby Boomers aging into Medicare every day, assisting clients who are turning 65 will certainly build your business base. This might mean networking with people you can refer clients to you. Or it could mean meeting property casualty agents, financial planners, CPAs, elder law attorneys, real estate agents, or other professionals who have a trusted relationship with their clients and may get questions about Medicare.

Host educational seminars.

Partner with a financial planner or tax accountant and put on educational seminars about turning 65. If you cannot find a partner, start hosting educational seminars at your local library or other community facilities, such as a senior center.

Read More: Why Medicare Beneficiaries Need a Trusted Advisor

Focus on client retention.

If you obtain a client when they turn 65, you have an opportunity to work with them until they age out. You can retain these clients by staying connected to them and making regular contacts to offer service during the year. Retaining clients is worth more and costs less than finding new clients. Consider the following annual schedule for staying in touch with your Medicare clients:

Within one month of a new plan: Follow up with them and make sure they have received their member card and plan information. Remind them of any extra perks such as over-the-counter benefits or Dental and Vision benefits. Make sure they know how to contact their carrier if they have questions or issues with payments or claims. If they have a network for a plan, make sure they know how to check that network.

Around mid-year: Do an annual review. Go over any health changes that need to be evaluated during the following AEP for a possible plan change. Make sure they have the coverage they need, such as life insurance (especially final expense), Dental and Vision, Critical Illness, or long-term care insurance.

If you stay connected with your clients and build a relationship, your clients are more likely to stay loyal and refer their friends to you. It can take some time to build business through referrals and relationships, but it will be business you can retain and keep strong for many years to come.

If you would like to learn more about building your Medicare business or discuss some of your business goals, please schedule a call with Senior Relationship Manager La Rae Mills.