Agent Commissions in Medicare and the Impact on Beneficiary Choice
For example, if you sell 200 Medicare Advantage plans in your first year, you could earn $60,000 in Advantage commissions alone. If you've ever considered learning how to become a Medicare insurance sales agent, there's never been a better time. The lowest price for Medicare Supplement insurance may seem attractive. That’s why it is important to ask the agent or broker about the company’s recent record of rate increases. A good agent will have no problem sharing this information (hint, that’s a good way to identify a good agent). And, Medigap insurance prices can vary from one Zip Code to the next. Examine how those benefits relate to cost factors like copays and coinsurance, then compare those cost-benefit balances across plans. If possible, start with the largest carriers like Aetna, Cigna, Humana, or United. These firms comprise the bulk of the market share and tend to be easier to sell. Ultimately, your product offerings will be dictated by your territory and sales mode...
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