How Agents Influence Medicare Beneficiaries Plan Choices
Every day, 11,000 baby boomers turn 65 and age into Medicare. Just in 2021 alone, 26 million people enrolled in a Medicare Advantage plan, and that number is expected to dramatically grow. By 2035, there will be almost 80 million people aged 65 years or older. Choosing benefit structure, for example, 1) traditional Medicare combined with a Part D medicare agent prescription drug plan and Medicare Supplement plan versus 2) a Medicare Advantage private plan. You should ask if the broker or agent will review all plans available where you live — or if they will limit their review to a small selection of plans. There are some differences between how a captive agent, independent agent and broker function. Then, compare it to similar plans, especially if you're new to the business and don't have existing clients with real-life budgets. It will list everything you need to know about your partnership with the carrier, including product requirements and how you'll receive paymen...