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Finding a Medicare Supplement Agent: The Good, the Bad, and the Ugly

As a supplemental agent for Medicare, I understand the stigma associated with insurance agents. Fortunately, I don’t fit the stereotypical, gentle car salesman prototype, but I know a lot of agents who do. Since Open Enrollment is almost over, and many people are deciding to switch from Medicare Advantage to Medicare Supplement, I thought I could add my two cents on choosing the perfect agent, in case any consumer is interested in what distinguish the good from the good. bad and the bad of the ugly.

One thing that divides the crowds is who they work for and how they get their leads. Although cold calling became illegal, many Medicare supplement agents still find people who are not on the “Do Not Call” lists and spend their days pestering these vulnerable consumers without knowing it. If an agent calls you and you have no idea where they got your number, HANG UP. This agent is in direct violation of a federal law, and it is unknown what else this bottom feeder could be doing.

Independent agents, that is, agents who do not work for anyone, in addition to being hired with carriers, are often to blame for cold calling. However, this does not mean that there are no reliable independent agents, in fact, I am one of them! Surprisingly, freelance agents can be some of the best in the business, as long as they don’t resort to cold calling or hassle. Why? Well, first of all, most agents work in large call centers or for the operators themselves. If you work with a major call center (20+ agents), you are just one customer in thousands. As for agents who work for a single carrier, they can’t give you more than one quote, and everyone knows that shopping is a Consumerism 101 tenant. Never talk to an agent who only works for one carrier, because I can guarantee that you’re hearing skewed sales pitch, something every consumer, in every market, should be tired of. Independent agents do not have any of these problems. They are typically contracted with several competitive carriers for their area and maintain a manageable customer base, making them one of the best ways to get the most competitive price on a Medicare supplement policy. Disclaimer: There are some smaller call centers that refrain from growing too big, and these are great places to shop around too. In general, stay away from anyone who is not helping you shop, that is, someone who does not understand that you want to know more than one available option.

Agents who only offer one type of plan cannot be trusted, specifically Plan F. “But I thought Plan F was the best plan out there ?!” And you’re right, in terms of coverage, Plan F is the most comprehensive. However, in terms of commission earnings, Plan F is the most lucrative plan that an agent can sell. If you are talking to an agent who does not want to discuss any other plans with you, I can guarantee that they are most likely 1. very inexperienced or 2. very greedy, and no one likes greedy insurance agents. For example, I can save someone $ 30- $ 50 a month by buying Plan G instead of Plan F, the difference? Plan G doesn’t cover the $ 147 Medicare Part B deductible. You do the math. Some agents prefer to earn a higher commission than to do the right thing for the consumer.

Customer service is something that many insurance agents do not understand. When a Medicare member calls to discuss benefits, but then also has other questions or concerns, some agents will do the bare minimum for that consumer. A good agent will take the time to explain something to you, as well as to make sure you fully understand every part of the plan’s benefits, the application process, payment, etc. A good agent will also keep you as their client, checking in from time to time to make sure you’re still happy with your policy.

The last quality I’ll talk about is humility, along with competence, two of the most important assets an agent can possess. There is no single Medicare supplemental agent who knows everything about Medicare, providers, health conditions, etc. There are always questions. That’s why it’s nice to have an agent say “Let me make sure this is correct” or admit “I don’t know.” I’d rather have an agent ask the right person than try to be the smartest cookie in the agent’s jar.

Sometimes it is easy to go to the first agent who calls, but next time use consumer power when purchasing a Medicare supplement policy; I promise you, you won’t regret the decision to be picky.

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