What Does 'Ready-to-Sell' Mean for Medicare Agents? Ritter Insurance Marketing

The key to really becoming a great top Medicare agent is by committing to ongoing Medicare agent training. A great way to do this is connect with your FMO (assuming it’s an FMO that offers Medicare) and asking what their Medicare agent training programs look like. You can choose from many different options from your insurance CE provider and they will guide you through the requirements for your resident state. Here are the 7 steps you need to follow to become a Medicare insurance agent. With an All-in-one universal login, MedicareCENTER brings all of your carriers to one place with scope of appointments, quoting, Rx drug lists, e-applications, and more. Anyone currently enrolled in Medicare or will soon be turning 65, or any relatives of seniors or Medicare beneficiaries who assist with healthcare matters.

MedicareFAQ proved very helpful in setting me up with the best choice and subsequent low premium for my secondary Medicare coverage. Jagger Esch is the Medicare expert for MedicareFAQ and the founder, president, and CEO of Elite Insurance Partners and MedicareFAQ.com. Since the inception of his first company in 2012, he has been dedicated to helping those eligible for Medicare by providing them with resources to educate themselves on all their Medicare options.

The key is to stick with it and cultivate a long-term client base. It is worth noting that many health Insurance exam vendors offer a life insurance certification at the same time you are preparing for your health certification. While having a life license is not required to sell Medicare products, it is a good idea to have this license under your belt to provide your client with other insurance product needs down the road. Some states require and offer classroom training with a seasoned licensed health insurance agent who prepares you for the exam. This is a nice option by giving you access to someone who can answer questions as you progress through the course. This classroom training takes roughly a week to complete with the goal of passing the exam at the end of the class.

Nectar offers real-time Medicare leads and Medicare live call transfers— as well as life, auto, and other forms of health insurance. And unlike an employer, Nectar will never take any of your commissions. As a Medicare medicare agent insurance sales agent, your role is to help your clients prepare for the unexpected and help protect themselves from financial risks. You might have the best intentions, but sometimes things don't work out as planned.

For example, for 2022, CMS has set the maximum national commission for first-time enrollment in MA at $573 per beneficiary for most parts of the country. In California, however, the maximum first-time commission is $715. For standalone Part D plans, the 2022 maximum national commission for first-time enrollment is $87 and does not vary by region. These commissions are paid when the beneficiary first enrolls in an MA or Part D plan. Additionally, you need to acquire appropriate licenses as required by your state.

Ensuring commissions even if beneficiaries stay with their original plans may help prevent unnecessary switching. However, there is also a risk that agents have limited incentive to revisit plan fit or routinely check in with beneficiaries. Policymakers could consider defining a minimum level of service required to earn the renewal or switching commission. However, there is no explicit imperative or financial incentive for agents to behave this way. Agents are not required to disclose that they do not offer all available plans and beneficiaries may not recognize that agents may not present all options available to them. The average Medicare beneficiary has 39 Medicare Advantage plans to choose from in 2022, according to the Kaiser Family Foundation.