As an agent for Medicare Supplement, I understand the stigma attached to insurance agents. Fortunately, I do not fit into the stereotypical, sleek, prototype car salesman, but I know many agents who do this. Because Open Enrollment is almost over, and many people decide to switch from Medicare Advantage to Medicare Supplement, I thought I could add my two-cent in choosing the ideal agent, in case any consumers would be interested in what distinguishes good from bad and bad from ugly.
One thing that many people share is who they work for and how they get their results. Although cold appeals have become illegal, many Medicare Supplement agents still find people who are not on the “Do Not Call” lists and spend their days pestering these unconscious vulnerable consumers. If the agent calls you and you don’t know where they got your number, HANG UP. This agent is in direct violation of federal law and does not know what else this lower feeder can do.
Independent agents, meaning agents who do not work for anyone except that they are connected with carriers, are usually the culprits of the cold call. However, this does not mean that there are no reliable independent agents, in fact, I am one of them! Surprisingly, independent agents can be among the best in the business if they do not resort to cold calls or shunting. What for? Well, firstly, most agents work in large call-centers or for the carriers themselves. If you work with a large call center (20+ agents), you are just one client in a thousand. As for agents who work only for one operator, they cannot give you more than one quote, and everyone knows that shopping is a tenant of Consumerism 101. Never talk to an agent who works only for one operator, because I can guarantee What you hear about a biased sale is that every consumer, in every market, has to tire. Independent agents have none of these problems. As a rule, they enter into contracts with several competing carriers in their field and maintain a managed client base, which makes them one of the best ways to get the most competitive price in Medicare Supplement. Disclaimer: There are several small call centers that refuse too big growth, and these are good places to visit the store. In general, stay away from those who do not help you in the store, that is, those who do not understand that you want to hear more than the only one available option.
Agents who offer only one type of plan, in particular Plan F, cannot be trusted. “But I thought that plan F is the best plan?” And you are correct, in terms of coverage, plan F is the most complete. However, in terms of commission profits, Plan F is the most profitable plan an agent can sell. If you are talking to an agent who does not want to discuss any other plans with you, I can guarantee that this agent is most likely 1. very inexperienced or 2. very greedy and no one likes a greedy insurance agent. For example, I can save about 30-50 dollars a month by buying plan G instead of plan F, the difference? Plan G does not apply to Medicare Part B, which costs $ 147. You do the math. Some agents will rather make a greater commission than what is appropriate for the consumer.
Customer service is something that many insurance agents do not understand. When a Medicare enrollee encourages them to discuss benefits, but then also has other questions or concerns, some agents will make a minimum for this consumer. A good agent will spend time explaining something to you, and also make sure that you fully understand all aspects of the plan, the application process, payment, etc. A good agent will also keep you as your client, checking everything so often , to make sure that you are still satisfied with your policy.
The last quality I’m going to talk about is humility and competence, two of the most important assets an agent can possess. There is not one Medicare Supplement agent who knows everything about Medicare, carriers, health conditions, etc. There are always questions. That is why it is good to have an agent who will tell you: “Let me make sure that this is accurate,” or to confess, “I don't know.” I prefer the agent to ask for the right person than to try to become the smartest cookie in the agent bank.
Sometimes it’s easy to go with the first agent who calls, but next time use consumer power when buying Medicare Supplement policies; I promise you will not regret that the decision was choosy.
