Don't Miss Your Piece of Cake This Time!
I hear from agents all the time as to how they are looking for a fresh, new opportunity. They say they're looking for free leads, a new concept, something that has never been done before. They're trying to get in front of the next big wave of insurance opportunity that has left them in the dust in the past. They often say, "If I had only gotten into Medicare Supplements years ago, I'd be RICH by now!", etc.
Well, if you are an opportunity seeker, I have great news for you now. The ObamaCare "Hope and Change" train has crashed through the medicare world and the damage assessments are being done now. Many experts in our industry agree, the opportunity for those in our industry will be unlike anything in a very LONG time.
Medicare Advantage has, over the past few years, been harder and harder to sell and become such a pain - with all of the regulations, Scope of Appointment form scrutiny, commission reductions, replacement prohibitions, etc. This has now been topped off by a president who wants to eliminate the medicare advantage altogether. See the video of President Obama saying so here.
We are already starting to see the effects in one of the major carriers, CIGNA, pulling out of the 2011 Medicare Advantage bidding process. The Department of Health and Human Services fired off a letter to CIGNA and others, telling them that they must avoid raising rates on their members if they want to stay in the Medicare Advantage market. This, while they're simultaneously cutting the subsidies to the carriers for providing the same service. CIGNA responded by declining to participate in national Medicare Advantage going forward.
This is a trend that will continue. To the extent that they can get away with it - to remain profitable, the insurers will have to increase monthly premiums to their Medicare Advantage clients. They will also have to increase co-payments and other internal costs passed on to the members. HHS has made it clear, however, that they will not be approving such changes. So, backed into a corner, more will be making their exit from the marketplace.
This will be a horrible blow to the seniors, as I predicted in this video that got rave reviews from all except for AARP - who wrote me a Cease & Desist letter for mentioning what they were up to. They got their bill, and now the results that I predicted are coming true.
This will be a huge opportunity for those agents wanting to help potential clients with medicare supplement choices, as the Medicare Advantage market will begin to dwindle starting in November with thousands of members getting letters explaining that they have 1) Guaranteed issue into any medicare supplement provider for 1/1/11 and 2) They MUST pick a new plan/provider by 1/1/11 or the government will pick one for them.
This happened last year when Coventry left the Medicare Advantage market and it was a huge boost to our enrollment in medicare supplements. That was just the first break, and the tidal wave is coming.
Will it be hard for low income seniors? Absolutely. Somebody will have to write applications for seniors going onto medicare supplements, though, and it might as well be you.
Agents wanting to take advantage of the new opportunities should visit: www.sellmedicarebyphone.com
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