Newtown Sq, PA -- (SBWIRE) -- 07/17/2019 -- According to the American Association for Medicare Supplement Insurance (AAMSI), 2019 may be a very good year for selling Medicare Supplement insurance. It appears the increase in the number of people in Medicare and buying supplemental insurance began in 2018.
The AAMSI conducted a survey recently that received responses from over 300 health insurance agents. Roughly 64.1 percent of those responding indicated increased/higher sales of Medigap in 2018. One in four agents (27.2 percent) indicated sales were about the same as 2017 and 8.7 percent of responding agents suggested they had a lower level of sales.
As part of the survey experience, the AAMSI asked respondents to predict 2019 sales as compared to sales in 2018. Almost 69 percent indicated they were more optimistic that Medigap sales would be much higher. "It makes sense that sales would likely be higher," suggested Clelland Green, RHU, CEO benepath.com, "as just about 11,000 Americans are celebrating their 65th birthday every day." It is a good time to sell Medicare Supplement and Medicare Advantage products.
While selling health insurance in an uncertain market can be an uphill battle, overall the optimism for the future remains, driving the market into an advantageous position for not just insurance agents, but also Americans needing health insurance.
In a fast-paced insurance market in a rocky political climate, prices can be competitive. However, often there are other benefits to be had when it comes to the inclusions in policies. "It pays to shop around to find the right health insurance policy," added Green. "Particularly if you also do some initial research to determine what you need and want before you start searching."
Here is a list of what an insurance broker should be doing to help existing and potential clients navigate the complexities of Medicare:
- Work with a client by looking at whether or not the existing coverage remains the best option in terms of cost and coverage
- Opt to review all plans available to an individual even if the broker does not represent all insurers in an area
- A Medicare beneficiary has 24 Advantage Plans to choose from which can be confusing without a broker's help
With plans changing every year and new ones available in many locations, there could be a better choice out there in terms of cost and coverage. It takes time for seniors to find a perfect fit for them.
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