Medicare Part C differs from Parts A & B (“original Medicare”) in that it involves private insurers, even though it is still a part of the overall Medicare Program. That means that health insurance companies need to take specific steps in formulating an effective marketing strategy that will convert as many prospects as possible into signing up for Part C through them instead of in connection with a competitor.
Here are 5 key ways you can optimize your promotion of Medicare Advantage to your prospects and to existing customers who may have other insurance through you already (but not Part C yet):
1. Invest in optimal Web design.
Does Web design have anything to do with health insurance? Of course it does: a large portion of health insurance these days is sold online, and unless you create a happy “user experience,” you risk losing the interest of prospects even if you, in fact, are offering a better deal than your competitors.
Don’t scrimp too much on UX (user experience) Web design, for your company’s success depends largely upon it. Check out this article on the 5 Steps to Optimize Your Website User Experience by Perth Web Design to get acclimated to the basics of how to improve your website’s UX level.
2. Be ready to adequately answer all inquiries on Part C.
The second key to signing up prospects for Part C is to be ready via online chat, phone, email, and in-person in your office location to give in-depth answers to the questions you are asked about Medicare Advantage.
To consumers, health insurance is a very complex, even confusing subject. Thus, even though most people agree they need it, unless you are quick and adept at explaining the features and benefits of Medicare Part C in “common language,” you will likely lose many customers you could have had.
3. Highlight Part D in promoting Part C.
Oddly enough, “Part D” is included in “Part C.” Actually, Parts A and B are all wrapped up in the same package as well. But although those with Medicare Advantage plans get the hospital and medical cover of A & B and also dental care coverage, the Part D prescription drug coverage is what really sets Part C apart as so incredibly valuable to many.
Provide information on the average costs of prescription medications in general and of particular types of prescription drugs. Then provide an easy to use online calculator that shows what kinds of discounts people are likely to get and how much they could save annually due to MA. This kind of approach is very fact-based and without being boring or top-heavy with information to consumers. It is practical, relevant, and engaging.
4. Highlight the out-of-pocket caps of Part C.
Probably the second biggest factor in driving people to choose a Medicare Part C plan is the fact that it allows out of pocket expenses caps to be set on the Parts A and B coverage. That gives the insured certainty that they will pay no more than a set amount. Up until that limit, a certain percentage will be paid by Medicare, but the certainty of a cap on what you will ever have to pay for covered medical expenses is a huge selling point you’ll want to highlight.
5. Help consumers customize a plan that is right for them.
Finally, since Medicare Advantage Plans can be customized to individual needs and can vary greatly from person to person in many aspects, the more you help interested parties in designing their ideal plan, the more you can expect to land new policy holders. If you leave prospects unsure of how to formulate a plan that’s right for them, they will likely find a more helpful insurer to buy their Medicare Part C policy through.
Article by Ashley Lipman