Agent Commissions in Medicare and the Impact on Beneficiary Choice

The annual AHIP certification exam comes with fee of $175 each year. Medicare is also a phenomenal way to support your existing customers so they aren’t going to another medicare agent agent. No-pressure recommendations on all plan options, not just one or two. Our Licensed Independent Agents have undergone hundreds of hours of training.

Ask the carrier if there's anything else you need to order for new and prospective clients. You can also sell standalone prescription plans for Medicare recipients who want to purchase this separately. For 2022, these commissions are capped at $87 for first-time enrollment and $44 for each renewal. Once you're licensed, you'll need to contract with Medicare carriers to sell their products. How would you feel if a salesperson told you that you absolutely needed whatever they were trying to sell you? Probably irritated and pressured to buy something you have a gut feeling you probably don’t need.

Instead, you can leave the bulk of the work to Nectar and focus on selling. You'll also be part of Assurance's lucrative commission structure, which enables you to earn year-round, not just during open enrollment. If a client thinks you've wronged them in some way, they could try to take you to court. For example, this might happen if a client discovers that a particular service isn't covered and ends up having to pay out-of-pocket or if they identify a potentially better plan you didn't mention. To find good leads, be prepared to try many different types of marketing.

Medicare Advantage is a great line to sell, whether you're a newcomer to selling insurance or an experienced insurance professional looking to diversify your portfolio. But no matter how much experience you have, you need proper Medicare insurance sales agent training to complete the certification process. The Association’s website has the nation’s largest online database of local Medigap insurance agents. Use our online look-up to find local Medicare Supplement insurance agents.

Pam ended up choosing a Medicare Advantage plan that offered the support she needed after her back surgery. Today, she still reviews her Medicare coverage with Ann annually. When Pam Lindau first qualified for Medicare benefits in 2014, she looked into coverage on her own.

Many start at Medicare.gov and, while this is an excellent source of the basics, it often prompts even more questions than answers. You start to read about Part C, Part A, Part B, Part D, and all kinds of different enrollment periods that come with Medicare. A Medicare Supplement insurance agent can help you make sense of your options in relation to how Medicare functions.

Today, agents are licensed in multiple states to make it more convenient for beneficiaries. An out-of-state agent will provide the same service if they have a license in your state. So, there’s no reason you need to travel anywhere to see an agent, and there is no reason they would need to come to your house to help you with your coverage. It’s easier, faster, and more convenient for them to help you enroll in Medicare over the phone and/or online.