Do You Need a Medicare Insurance Agent?

Our agents can simplify the process of finding the right plan, answer your questions and help you enroll. CMS could consider setting commissions to ensure that agents are not motivated financially to favor a particular type of coverage, and therefore, can provide beneficiaries unconflicted advice. Insurers also may make additional payments, in addition to enrollment commissions. These administrative payments are paid to agencies for assuming administrative and operational responsibilities in support of an agent’s work soliciting and enrolling beneficiaries. These activities may include marketing, technology, training, and compliance; the agencies serve as an intermediary between agents and insurers. Agents typically secure contracts with multiple carriers, but they are not required to contract with all available carriers in their market.

Here’s what’s required to be “ready-to-sell” a carrier’s Medicare products. As an InsurTech platform, we provide our agents with technology that helps automate their business and simplify their day-to-day with quoting & enrollment platforms, CRMs, and market research tools. Our team works with proprietary Medicare products, provides individualized growth plans, market analysis and guidance, and agency building tools & techniques. Applied General Agency has been the industry leader for over 20 years in our pursuit to provide independent agents with the tools and services needed to succeed.

Sometimes these agents/brokers are employees of the contracted company. In other situations, the companies hire independent agents/brokers who are not employees to sell the companies' Medicare plans. 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.

Medicare agents and brokers work differently, but both can help you cut through the confusion to find the best Medicare coverage at the best cost for your needs. Agents work for insurance companies selling Medicare plans, while brokers connect you with the company or agent that best fits your needs. Many websites of state insurance departments allow you to check the license status of someone who claims to be a licensed insurance agent or broker. When you get your health license, simply sticking a “I sell Medicare Insurance” sign on your office window won’t get you off to a fast start. This communication provides a general description of certain identified insurance or non-insurance benefits provided under one or more of our health benefit plans.

As a sales agent, you should be self-motivated, assertive, and persuasive, with good follow-through and the ability to pay attention to details. Strong communication skills are crucial, as is the ability to present complex information clearly and engagingly. Unlike enrollment commissions, administrative payments are not set by any governing or regulatory body; instead, they are set by insurers in negotiation with each independent agency.

If you'd rather opt to be your own boss and possibly run your own firm someday, consider buying Medicare leads directly through Nectar. As an insurance medicare agent agent, you know how important it is to help protect your clients' finances. However, don't underestimate the value of protecting yourself as well.