How to Be Successful this Medicare OEP

Episode Summary

The transcript covers a discussion between two insurance brokers, David and the host, focused on strategies and best practices for brokers during Medicare's Open Enrollment Period (OEP).

David starts by explaining what OEP is - it runs from January 1st through March 31st each year and allows Medicare Advantage members one chance to switch to a different Medicare Advantage plan if they are unhappy with their current coverage for any reason.

The host notes that OEP rules and marketing guidelines can be vague, so they clarify specifics around what brokers can and can't do. Brokers cannot proactively market or advertise OEP, but they can discuss it with current clients who call with issues about their new plan from AEP. This allows brokers to make changes if needed to maintain their book of business.

David stresses the importance of following up with new members signed up during AEP. Call them to ensure satisfaction, address any concerns early, and ask happy clients for referrals to friends or family who may also benefit from their services. He notes referrals are especially valuable for newer agents looking to grow their business.

He advises using OEP as an opportunity to update CRM records with accurate client information. This includes contact details, Medicare ID numbers, and plan specifics. He also recommends auditing commissions to confirm all AEP enrollments were completed properly. Catching inconsistencies now prevents issues down the road.

Looking back at what marketing strategies worked best in the previous AEP can help brokers nurture those lead sources year-round. The host emphasizes that much of next year's AEP success depends on the consistent nurturing of relationships today.

The host also suggests leveraging OEP conversations to cross-sell supplementary products like dental or cancer policies. The more products each client has, the less likely they are to switch brokers later.

In summary, Medicare's OEP gives brokers a chance to follow up with new clients, obtain referrals, organize their book of business, review marketing analytics, plan ahead, and cross-sell additional products. Taking advantage of this overlooked enrollment window helps retain clients, generate leads, and maximize growth for the coming year.


(0:00:04) - The Broker Link helps insurance agents sell more, earn more, and stay independent
(0:00:37) - David Ireland is a Medicare sales and marketing director at a Texas brokerage
(0:01:07) - The Medicare Advantage OEP allows people to make one change during disenrollment
(0:02:17) - You can't market unsolicited about the Medicare Advantage OEP
(0:06:00) - Five things brokers should be doing during the Medicare OEP
(0:08:49) - Getting organized with your applications is very important
(0:14:02) - David Ireland: A lot of agents are asking about cross-selling
(0:15:57) - Check your commissions, and make sure you got paid on them
(0:20:13) - The fifth thing on this list and the last thing is planning ahead
(0:23:00) - AEP business doesn't just plop into your lap during AEP
(0:27:28) - Broker Link helps insurance agents sell more, earn more, and stay independent

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