Why Sell Medicare

17%

of the total US Population is eligible for Medicare

52.3 Million

Eligible in fact, as of October 2015

8.8 Million

of those eligible are under age 65 and disabled

These numbers are going to continue to increase steadily until at least 2030, as the Baby Boomers are retiring. Roughly 10,000 people a day are enrolling in Medicare! The overall number of citizens eligible for Medicare Parts A and B will likely double over the next 20 years.

This represents a phenomenal opportunity; these retirees need independent agents to provide very meaningful advice and guidance. They’ll need help understanding their benefits, and how Medicare Advantage (MA), Medicare Supplements (Medigap) and Prescription Drug Plans (PDP) work. Consumers will also need help in order to avoid costly penalties and mistakes.

Another factor to consider, is the US healthcare system is one of the most advanced in the world. Treatments and prevention methods are continuing to improve, and as a result people are living longer than ever before. This means that your clients will be around longer and increase your overall earning potential.

How much do agents make selling Medicare plans? It depends on the product type and the insurance carrier, but here’s some useful information.

Our agents get paid directly from the insurance company. We never hold your commissions
Our agents own their own book of business from day 1. You work for yourself, not us
Our agents make top agent level commissions, the maximum the insurance carriers allow
You are vested from day 1, some products pay lifetime commission
Most Medicare Advantage plans pay at least $270/$540 per policy, (2020 FMV). Some states are higher
Medicare Supplement companies vary, but usually pay between 17-22% of annual premium
Prescription Drug Plans pay $36/$72 per policy (2018 FMV). Some state are higher

Sources:
Forbes
www.kff.org
www.ncpssm.org/Medicare/MedicareFastFacts