Navigating the Medicare Market: Key Considerations for Group Health Agents

In this episode of the Medicare People podcast, host Sarah Jacobson speaks with Ashley Corr, a Medicare insurance agent in Richmond, Virginia, about the financial benefits of helping Medicare eligible employees transition off group plans. Ashley discusses how he purchased a book of business and built his own successful Medicare agency, and why he believes it's a no-brainer for group health agents to also sell Medicare. He highlights the ways in which this can help clients save money and improve their benefits, making it a win-win situation for both the agent and the client. Listen to the full conversation to learn more.

Ashley’s career journey and how he built his Medicare agency

Ashley is a Medicare insurance agent based in Richmond, Virginia. He has over 25 years of experience in the industry, starting on the carrier side with Anthem. He worked in customer service and broker services before moving to the broker side and working in group benefits. For many years, Ashley partnered with a veteran Medicare agent and referred anyone turning 65 to her. One day, to Ashley’s surprise, she offered to sell her book of business to him and suggested he move into the Medicare space. 

They worked out a deal together and gradually transitioned clients over to Ashley in a clean way that made every client feel taken care of. Since buying the Medicare book, Ashley has focused primarily on Medicare and loves the relationships he has with his clients and the flexible lifestyle it affords. He now grows completely by referral from existing clients and partnerships that he’s developed with local employers, like car dealerships. 

Overall, Ashley's career journey is a great example of how hard work, dedication, and a little luck can lead to success in the Medicare industry. His story is a valuable resource for other agents looking to build their own Medicare agencies, and offers valuable insights into the challenges and rewards of this field.

The financial benefits of helping Medicare eligible employees transition off group plans

Ashley discusses how group health agents can use Medicare to help their employer clients save money and improve their benefits.

When employees reach the age of 65, they are eligible to enroll in Medicare instead of remaining on their group health plan. This can be a win-win situation for both the employer and the employee, as it can lower the average age of the group and reduce claims dollars spent. This can make the group more competitive and improve their claims experience, leading to better rates when they go out to quote.

For the employee, transitioning to Medicare can often result in a better product for less money. This is because Medicare plans typically offer more comprehensive coverage and lower premiums than group health plans. It can also provide peace of mind for the employee, as they know they will have access to quality healthcare even after they retire.

Overall, the financial benefits of helping Medicare eligible employees transition off group plans are clear. It can save the employer money, improve the group's competitiveness, and provide better benefits for the employee. Group health agents who are able to help their clients make this transition can position themselves as valuable advisors and build strong, long-lasting relationships.

By helping employees transition to Medicare, group health agents can provide value to their clients and build strong, long-lasting relationships. It is a great opportunity to expand your business and offer your clients a wider range of options.

Navigating the Medicare market

One of the biggest challenges of the Medicare market is the sheer number of options available. Medicare has many different plans and products, including Medicare Advantage, Medicare Supplement, and Prescription Drug Plans. It can be overwhelming for clients to understand all of their options, and it is up to the agent to provide guidance and education.

As a Medicare agent, it is important to be knowledgeable and up-to-date on the latest Medicare options and regulations. This requires constant learning and staying on top of industry developments. It is also important to be proactive in your approach, and to offer your clients a wide range of options to choose from.

One of the key advantages of the Medicare market is that it provides a great opportunity to expand your business and generate additional revenue. By helping employees transition to Medicare and offering a range of options, you can provide value to your clients and increase your income.

Ashley emphasizes the importance of being independent in your approach to Medicare sales. This allows you to provide unbiased advice to your clients and offer them the best options for their needs. It also enables you to build strong, long-lasting relationships with your clients and provide them with ongoing support and guidance.

Overall, navigating the Medicare market can be challenging, but it also provides many opportunities for growth and success. By staying informed and offering a wide range of options, you can provide value to your clients and grow your business.

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