Marketing Strategies for Medicare’s Annual Election Period

Current Medicare Customers:  Current Medicare clients may need to make changes during AEP for various reasons. This is especially true with the big Medicare changes this year!  Make sure you are not neglecting your current Medicare clients or they may seek help from another agent. This is the first step you should focus on because you can reach out to them prior to AEP. Start by sending them a letter in early September to advise them AEP is approaching. The letter should remind them that you are their agent and they can reach you if they need to review coverage or to make a change.

In early October, follow up with reminder emails, another letter, or even calls if feasible. You can set appointments with any current clients that need a review. You can meet with them as early as 10/1 to go over plan options. This way they will know which plan to enroll in ahead of time and they can complete the application and return it to you on 10/15.

Cross Selling – Other lines: If you sell other types of insurance, i.e. P&C, Life, Final Expense, then this is the time of year you want target your over 65 clients from these other lines. Since you have a current relationship, they already know and trust you. Don’t waste that connection!

Per Medicare, you can make unsolicited contact with these customers, including sending letters, emails, and phone calls. Similar to your current Medicare clients, you should reach out to this group starting September. You can send them a general letter or postcard letting them know you also do Medicare and AEP is approaching. You should do another reminder follow up via phone, email, or letter to let them know you can help.

Provider Marketing: Provider marketing includes physicians, doctors, dentists, and pharmacies. These are providers that Medicare beneficiaries regularly visit and trust because they have an existing relationship. These providers have direct contact with this group of patients and are frequently asked about Medicare. You can be beneficial in these environments by answering the tough Medicare questions, providing materials with Medicare information for patients, and helping patients enroll in plans that keep them in the provider’s network. You are benefiting both the beneficiary and provider, and positioning yourself as the Medicare expert and trusted source.

This is a strategy many of our agents have success with and receive referrals from regularly. The key is to be consistent when visiting your providers. For doctor and dentist offices, you can bring flyers and a basket of candies or treats to put beside your flyer display. For pharmacies, you can get permission ahead of time to set up a Medicare booth in the store (away from the patient consultant areas) to help answer questions and sign up new members. You can also create flyers that promote you and answer specific Medicare questions for customers to take (i.e. clarifying the prescription drug coverage).

If you do not already have relationships with any providers, it is a good idea to start before AEP comes around. Start as soon as possible by making contact, bringing materials, or setting up booths where appropriate. This method of marketing pays off in the long run!

MEDICARE MEETINGS: Medicare meetings are a good way to get in front of a room full of Medicare recipients who are shopping plans or looking for clarification on Medicare. If planned correctly, meetings are a great strategy for AEP because they allow you to reach a large number of potential clients at once. This is key for AEP since the window to elect a plan is short, but the number of beneficiaries looking to change is large. If you are interested in doing Medicare Sales Meetings and Medicare Educational Meetings then you must prepare and market them in advance of AEP. Most carriers require you to book and commit to your AEP meeting times during the summer months, and some require auditions to make sure you are covering the required content.

General Unsolicited Marketing: You will want to market beyond your book of business to reach new potential clients. General unsolicited marketing includes all of the following:

1. Conventional Mailers: Postcards, Letters, BRC (Business Reply Cards):  This is normal outbound marketing and can be effective if you have a good message, marketing design, and are targeting the correct area. You can buy marketing lists for 65+ from various sources. It is a numbers game and consistency is the key for brand recognition. If you do mailers, make sure you budget so you can do 2 or 3 different mailings. It is better to reach a smaller group multiple times then a larger group once!
2. Email Marketing: Email marketing is now okay per Medicare and allowed as unsolicited form of marketing. 
3. Print media: newspaper and magazine ads. This marketing usually requires a longer term commitment. If you can find a print source that has a higher percentage of 65+ for a decent price, then you can get a good return. Some agents have found more success doing ads in smaller retirement community newsletters. These are usually cheaper prices, and have a high concentration of Medicare age audience.
4. Event sponsorships and booths:  Many cities have expos and events geared toward seniors. This is a great place to set up a booth and speak to beneficiaries that visit your table. You can bring flyers with Medicare information that answers common questions, swag for giveaways, and be available to answer Medicare questions on the spot.

These are all great ways to reach a larger group of people and let them know who you are and what you offer. Some marketing tactics work better in some areas than others. Think small town versus big city!  Trial and error is necessary to figure out what works best.  Make sure your message is to the point, grabs their attention, states how you can help, and includes a picture of you so they see a friendly face. The more they see your face and company, the more familiar and trusting you become.

There are a ton of Medicare rules governing what you can and cannot do when marketing Medicare Beneficiaries. Be sure to check out our recent blog “Medicare Marketing: The Dos and Don’ts” as a refresher.