Should you use an Independent Medicare Insurance Agent?
Why you should choose an independent Medicare insurance agent?
You should choose to work with an independent Medicare insurance agent for your Medicare needs. There are several reasons this will be better for you than the alternatives. But the main point is it will make your life easier and you won’t have the sales pressure of someone that has a quota to sell each month.
Access to insurance companies
There are so many insurance companies, it’s hard for the average person to keep track of them. You probably haven’t even heard of many of the Medicare supplement companies because they don’t spend money advertising the way State Farm or Geico do for auto insurance.
For example in Wisconsin:
- there are more than 30 companies offering Medicare supplements
- there are usually around 15 Medicare Advantage plans available in each county
- often more than 20 prescription drug plans available in each county
As an independent agent, I have access to these carriers. So I can help you shop. And by pointing out the parts of the plan you may not be aware, you don’t make a mistake that could come back to haunt you later. There’s also key points that are positive that may be important to you when making a decision on which carrier or plan you want.
Maybe you’ve been on Medicare for a while and feel comfortable doing your Medicare shopping on your own. But do you want to be surprised later about some small detail in the plan that you didn’t notice? And what if it has big consequences about how you are covered? Or not covered.
I certainly wouldn’t. Especially when I can get help for free.
And since I have access to all of these carriers, you can do 1 stop shopping and compare all of your options at once. Instead of having to go to all these companies separately and keeping notes to be able to compare. Or maybe worse, making a decision with limited information from only one or two companies.
Here’s a brief video on how I can compare all these companies for you.
A Real Person 1 Phone Call Away
When you work with me, you don’t have to deal with some 1-800 call center person. Who knows where that call center is even located? And even worse is if you have to call that 1-800 number multiple times because of an issue you are having.
What are the chances that each time you call you will be able to talk to the same person you talked to earlier? Probably not very high. Which means you will be starting over each time you call and having to repeat your issues.
When you call me, you don’t have to use a complicated phone system to reach me. None of those phone prompts where you enter all your information in and then wait on hold for 5 minutes before actually being able to talk to a human. And then they don’t even have any of the information that you entered. So you have to start over and tell them everything you JUST entered.
I am the same person you will talk to when we first talk about your options as when we do your application. And the same person who will take your call when you have questions or issues after your policy starts.
Free Resource for You
You get me free. That’s right free. There is no cost to meet with me whether you use me as your agent or not.
And if you do decide to use me as your agent, you don’t pay any extra for your insurance policy. Because the insurance companies set the prices and they are the same regardless of how you buy your plan.
You obviously have options, not only from which company to buy your Medicare insurance coverage from, but also how you actually buy that coverage. You can:
- Apply online with the company so you don’t talk to anyone
- Call the company directly and talk to one of their sales agents on the phone
- Talk in person with an agent that only represents that one carrier
- Talk with an independent agent like myself that has access to multiple carriers
Using any of these methods means you get your coverage in place. And the price you pay for that coverage will be identical whichever method you use. So you can’t “cut out the middleman” and save money.
Here’s a quick example. You decide you want a Medicare Supplement from “Company A.” The price you pay for that Medicare supplement is:
- Apply online – $180
- Call the company direct – $180
- Talk in person with an agent that represents that one carrier – $180
- Talk with an independent agent like myself – $180
You don’t pay more for using an agent like myself that has 10 years of experience. And you don’t save any money by doing it on your own. So how much experience do you have with Medicare? Are you confident you can make an educated decision on your own?
But by talking with me, you will know all of your options.
Like how you could have purchased an IDENTICAL plan for $135 which would save you $45 each month. That’s more than $500 each year! But you wouldn’t have known about that option unless you had time to research ALL of the companies or you talked with an independent agent.
Captive Insurance Agents
Many insurance companies have agents that only represent that one carrier. Agents that can only offer one insurance company are referred to as “captive insurance agents.” Some examples of Medicare insurance carriers that have captive insurance agents here in Wisconsin are:
- United Healthcare
- Humana
- Dean
- Physician’s Mutual
These are good companies and the agents are likely very capable. The difference between them and me is I have access to all of these carriers. And more. They only have the 1 company they represent.
With me you can compare all of these carriers and the others available in the market at once. And I’m not incentivized to have you purchase 1 specific company. Because I get paid from the insurance company and they all pay pretty much the same.
So my goal is to help you pick the company and plan you are most comfortable with. It does not matter to me which company that is because there is no benefit to me having you pick one carrier over another.
But consider an agent that only works for 1 company. They need you to buy that company otherwise they can’t do anything. They don’t earn anything unless you buy their company from them.
Which means they need to SELL you on that one company. My goal is to help you compare the companies and BUY from who YOU want to have your coverage from.
Captive Medicare insurance agents are similar to the old saying “when your only tool is a hammer, everything looks like a nail.”
Independent Medicare insurance agents like myself have access to the entire tool belt.
Unbiased Information
I get paid from insurance companies and don’t cost you anything. All of the insurance companies pay pretty similar commissions on Medicare insurance policies. So I have no incentive to use one company instead of another.
Addressing your priorities is my number one goal. A captive insurance agent’s main goal is to sell you a specific company because that is the only company that will pay that agent. Sounds like a situation where a conflict of interest can easily occur.
No Quotas for me
I don’t have a manager breathing down my neck about sales goals or sales quotas. That can be very stressful for a person. And it can make them feel pressured to try to “make a sale.”
People feeling pressure tend to make poor decisions. Maybe they forget to tell you an important drawback in the plan.
Or maybe they apply sales pressure to get you to make a decision to buy what they are selling.
Neither of these is a positive experience for you.
I am my own boss and offer advice to you so you can make your own decision about what you want. (Don’t tell my wife that I am my own boss though J )
Local Small Business Owner
I live right here in Middleton, Wisconsin with my family. I don’t run some big call center in some other state. And I’m not an agent sitting in my underwear in Florida.
You deciding to use an independent agent like myself helps people right here in Wisconsin.
The Company You Choose Today May Not Be Your Company Forever
Many people turning 65 think they will make one decision about Medicare and never think about it again. But this is rarely true in real life.
The company you choose today may not be the best fit for you in the future.
But I will be an advisor for you today and for years to come. So if that company is no longer the right fit for you, you don’t have to start over from scratch with a brand new agent. And you don’t have to call multiple companies on your own. Together we can shop the market pretty quickly to see if there is a better option for you. And if you decide to make a change, I can help make that transition as smooth as possible for you.
You Can Buy on Your Own Time
I will give you the information you need to make your decision on your own time. You don’t need to be pressured into making a decision before you are ready. I’ve experienced that before where salespeople tried to force me into making a decision. It wasn’t a pleasant experience for me and it didn’t work out well for the salespeople.
So that is something you will not experience with me. And whatever decision you make, I can help you with putting that coverage into place because I have access to many companies.
Experience
I have been licensed here in Wisconsin since 2009. So you don’t have to put your trust in some person that just got their license and is learning on the job.
Everything I have learned over 10 years adds up to quite a bit. Especially since I focus on Medicare and am not spread out being a jack of all trades. Using me as your independent Medicare insurance agent means you get my experience as a free resource to you.
Please call me at 608-571-4461 or email me at Mike@askMedicareMike.com for help. No obligation and I don’t cost you a thing. I would love the opportunity to be your Medicare insurance agent.
Mike Lovell
Looking for Medicare supplement options combined with a prescription drug plan? Or maybe you know you want a Medicare Advantage plan? Either way I can help get you the information you need to make your decision.