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March 1, 2023

As a Medicare producer, you know that the Annual Election Period (AEP), from October 15 to December 7, is the busiest time of year for Medicare sales. Around half of new Medicare Advantage enrollments happen during the fourth quarter for a January effective date. But how can you generate business the rest of the year?

The good news is that there are opportunities for new Medicare sales year-round for both Medicare Advantage and Medicare Supplement (Medigap) plans.

Did you know more than 9 million people in the U.S. aged 65 and older were employed in 2022? Many people don’t enroll in Medicare immediately when they first become eligible. They could still be part of the workforce and have coverage through their employer’s health insurance, or they could be covered under a spouse who’s still working. If their health plan includes creditable coverage that qualifies them for penalty-free late Medicare enrollment, they may want to wait to sign up. After they stop working, they may also qualify for a Special Enrollment Period (SEP) to enroll in Medicare.

There are also Social Security benefits to consider when deciding when to retire. Seniors born in 1958 will need to wait until they’re 66 years and 8 months old to receive Full Social Security benefits. If they choose to hold off even further, they can max out their Social Security benefits at 126.7% of that amount by waiting until age 70 or later.

Many agents have strategies focusing only on gaining new clients turning 65. However, with more and more seniors choosing to delay retirement, you have a great opportunity and less competition by marketing yourself to people working past 65. If you have questions or would like someone to discuss your marketing ideas with, your local Medicare sales executive can help. Perhaps you would like to build an ad with help from our creative team or just bounce your creative ideas off someone. We’re here to support your growth, and we appreciate your partnership.

This is the second installment in a series of enrollment opportunities we’ll be highlighting over the early months of 2023, before we approach the rest-of-year selling season. See our previous article about selling to Medicare age-ins, and check out Producer News over the next few months as we dig into additional selling opportunities, like:

• Movers
• Medicaid and Extra Help (LIS)
• Loss of other coverage

It’s important to cultivate lead generation year-round. People need enrollment help throughout the year, and they may also refer a friend or family member who needs your help enrolling in a Medicare Advantage or Medicare Supplement plan.

Questions? Contact your Medicare sales executive.