Remember the baby boom that started at the end of World War II and resulted in a crazy increase in birth rates before tapering off in 1964? This group of baby boomers is now creating a huge supply of new Medicare Beneficiaries for agents to try and keep up with. This fast growing group of baby boomers is turning 65 and aging into Medicare at a rate of 11,000 per day! This huge amount of beneficiaries creates a great opportunity for new agents to successfully enter, sell, and grow in this market.
A Huge Demand for Insurance Agents
The insurance industry is in a current talent crisis and the demand for agents is increasing. This is due to the large percentage of insurance veterans that will be retiring over the next 15 years. According to the U.S. Bureau of Labor Statistics and AARP, within 15 years as much as 50 percent of the current insurance workforce will retire. This demand for Agents, paired with the huge population aging into Medicare makes a great opportunity for new agents to build and grow a Medicare business.
Private Medicare Plan Enrollment Continues to Increase
Medicare beneficiaries have the option to receive coverage through private Medicare health plans, such as Medicare Advantage and Medicare Supplements, or directly through the federally administered traditional Medicare program. Enrollment into private Medicare health plans continues to see a steady increase. According to Kaiser, Since 2004 the number of beneficiaries enrolled in private plans has more than tripled from 5.3 million (13%) to 19.0 million in 2017 (33%). This number is projected to continue to rise over the next decade.
This trend further increases the market of potential clients for you to enroll.
A Rewarding Career
A career as a Medicare Agent comes with many benefits. Does passive income renewals, a flexible schedule, and helping Medicare recipients make important decisions sound good? If so, then a career as a Medicare Agent is a perfect fit for you. Here is a brief breakdown of the benefits of being a Medicare Agent.
Passive Income: Medicare Agents are paid commissions for each new enrollment and continue to receive renewals each year for as long as the Medicare Advantage recipient stays on the plan. Due to this, the commissions start to compound annually and provide an increasingly larger passive income for the agent. This is true even if you start out Part-Time!
Take a look at these numbers for a PART-TIME agent enrolling only 1 person a week:
Flexible Schedule: This is not your normal 9 to 5 job. You get to venture out into the field, set appointments that work with your schedule, and work as much or little as you would like. You set the schedule that works best for you.
Minimal Startup/ Overhead: It does not take a lot of money to get started as a Medicare Agent. You must have a Health Insurance License and Errors and Omissions Insurance (typically costing $450 per year). It only takes a few short weeks to get certified, which can be done on your own schedule. Once certified, most agents work directly from home and they do not require an expensive office, costly overhead, or paid employees to maintain their business. You can even start selling Medicare part-time while still working your day job until you build up your income and are ready to make the full-time leap.
Helping Clients: A Medicare Agent serves Medicare Beneficiaries by educating and helping them make important Medicare plan decisions. It is very rewarding each time you get to meet with a new client, hear their stories, and make sure they are able to make the best decisions for long term Medicare coverage.
How to Get Certified and Why Us?
Are you ready to get certified as a Medicare Agent? Our dedicated broker managers are here to assist you with certification, establishing your agency, and providing you with tools to help you market and sell to this rapidly growing Medicare market. Our Agents’ success is our top priority, so we have dedicated our time and resources to helping agents get certified quickly and ready to sell. Here are a few highlights of the benefits our Agents receive:
- Step-by-step Certification Training Guide
- Marketing Support and Co-Marketing Reimbursement
- Turnkey marketing platform through our national NMA/FMO partner Senior Market Sales, with built in Contact Management System (CMS), Lead Management Tool, Quoting Tool, and Electronic Enrollment Tool all provided for FREE
Don’t wait to start! We are here to guide you through the process. Contact us HERE today and speak with our friendly broker manager to get started ASAP. Your success is our priority!