Boosting Financial Success with Medicare Strategies

Financial professionals can capitalize on Medicare to create a predictable, long-term income source through renewals. Advisors Excel launched its Medicare Solutions division in 2019 and in 2024, producers earned over $15 million in commissions and renewals solely from Medicare. The opportunity to help clients and prospects is limitless, as over 11,000 Americans turn 65 daily and need to make a Medicare decision. Medicare Advantage and Medigap policies often offer ongoing renewal commissions, creating a recurring revenue stream and potential for substantial financial growth over time.

Financial professionals have an opportunity to capitalize on Medicare to create a sustainable and lucrative business model. By leveraging their existing client base and offering Medicare strategies, they can help create a predictable, long-term income source through renewals. This isn't just a potential; it's a proven strategy, as demonstrated by Advisors Excel, which launched its Medicare Solutions division in 2019 and in 2024, producers earned over $15 million in commissions and renewals solely from Medicare [1].

The opportunity is vast, with over 11,000 Americans turning 65 every day and needing to make a Medicare decision. Medicare Advantage and Medigap policies often offer ongoing renewal commissions, creating a recurring revenue stream and potential for substantial financial growth over time [1].

What makes Medicare sales particularly attractive for financial professionals is the nature of renewal commissions. Unlike many types of insurance policies that require clients to reapply annually or every few years, Medicare Advantage and Medicare Supplement policies often offer ongoing renewal commissions as long as the client remains enrolled in the plan. This can lead to a predictable income stream, as opposed to the more volatile nature of other insurance products [1].

For financial professionals with an existing client base, offering Medicare can be a natural extension of their services. The key is to approach the conversation in a way that emphasizes the value it provides to clients rather than simply focusing on making a sale. One way to do this is to offer a "Medicare Checkup" or "Medicare Review" service, where regular meetings with clients help ensure they're in the right plan based on any changes in their health or financial situation. Doing this year after year offers the opportunity to create a strong client-retention strategy while simultaneously building a renewal stream [1].

Another way to increase awareness with current clients and prospects is to hold a "Medicare 101" seminar. This can provide valuable education to clients and prospects while also creating an opportunity to discuss the benefits of Medicare and how it fits into their overall financial plan [1].

Investing involves risk, including the potential loss of principal. Any references to protection, safety, or lifetime income generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims-paying abilities of the issuing carrier. Our firm is not affiliated with the U.S. government or any governmental agency. Neither the firm nor its agents or representatives may give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any purchasing decisions. Past performance is not indicative of future results [1].

References:
[1] https://www.kiplinger.com/retirement/medicare/how-advisers-can-rev-up-sales-with-medicare
[2] https://za.investing.com/news/analyst-ratings/humana-stock-rebounds-after-court-dismisses-medicare-advantage-rating-lawsuit-93CH-3796800
[3] https://www.ziprecruiter.com/Jobs/Director-Medicare-Sales