What are the 3 main ways in which Medicare sales occur?

How do I sell Medicare Advantage plans independently?

Is it hard to sell Medicare Advantage plans?

No, it's not hard to sell Medicare Supplements. When you're first starting, it should be easy, because everyone on Medicare needs one. It's just an insurance product. You're not a member – you're a policyholder, and that means a lot to people.

What is an FMO in Medicare?

FMO stands for field marketing organization, which is very similar to an independent marketing organization (IMO). FMOs provide independent agents with perks and resources and help them get contracted with carriers to sell plans.

How much do Medicare sales reps make?

The average medicare sales agent salary in the USA is $75,000 per year or $38.46 per hour. Entry level positions start at $54,591 per year while most experienced workers make up to $100,000 per year.

What does a Medicare agent do?

As a Medicare agent, you review your clients' health care plan and help them evaluate their needs against the services and coverage they are eligible to receive. You make recommendations about obtaining supplemental insurance and help people understand their options for prescription drug, vision, and dental policies.

How do I get Medicare leads?

What are Medicare regulations?

Medicare Regulations means, collectively, all federal statutes (whether set forth in Title XVIII of the Social Security Act or elsewhere) affecting Medicare, together with all applicable provisions of all rules, regulations, manuals and orders and administrative, reimbursement and other guidelines having the force of ...

Who makes the rules for Medicare?

Maximus Federal Services makes its decisions based on Medicare law and coverage policies.

How many Medicare agents are there?

AGA Medicare Options has over 4,000 experienced agents across the U.S., making it easy to find a knowledgeable, nearby agent to fully inform you on all your local Medicare plan options, including possible cost savings.

Do insurance agents make good money?

According to that data from the Bureau of Labor Statistics: The median annual wage for insurance agents was $48,150. The highest paid 10% of insurance agents earned more than $116,940 annually. The lowest paid 10% of insurance agents earned less than $26,120 annually.

Do you have to be certified to sell medicare supplements?

There is no certification required to sell Medicare Supplement insurance. (This is the biggest opportunity). ... Selling Medicare Supplements requires no certification and no company training. It is just like selling a cancer plan or a dental plan.

What is an IMO vs FMO?

An independent marketing organization (IMO) is basically the same as an FMO. Some agents believe FMOs tend to focus more on health insurance products while IMOs tend to focus on life insurance products, but this isn't always true. ... Like FMOS, IMOs tend to be licensed to sell multiple carrier products in multiple states.

How do I choose FMO?

What is an IMO or FMO?

At the most basic level, a Field Marketing Organization (FMO) or an Insurance Marketing Organization (IMO) is a company that offers insurance products and services to insurance agents or agencies. Most FMO's will normally offer services above and beyond insurance products, but the services offered will vary by company.

Is selling Medicare a good job?

Medicare agents have significant earning potential and a promising future of stable career growth – but it's not just about the money. Medicare agents also get to help others while taking control of their own careers. For the right person, Medicare sales can be a very rewarding and lucrative career.

Does Medicare sell year round?

As you may know, Medicare Supplements can be sold year-round and do not require new certifications annually, unlike Medicare Advantage plans. ... It is essential to discuss a beneficiary's health, lifestyle, medical needs, and budget when selling Medicare Supplements.

Can you make a living selling Medicare supplements?

Each sale garners initial payment and income for every year your client remains enrolled or switches to a similar plan. Through residual income alone, selling Medicare can create a six-figure salary in as little as three to four years.

How do I become an independent Medicare agent?

Can Medicare Advantage be sold over the phone?

Selling Medicare Advantage over the phone is completely doable – we know plenty of agents who it successfully. Here are your basic steps: Establish yourself as a Medicare guru in your community. Develop a marketing plan to ensure prospects are calling you (since you can't call them).