As more Baby Boomers reach age 65, insurance agencies are exploring their options to better serve a growing senior market. When looking for profitable ways to expand, the Medicare market is prime for growing agencies to capitalize on a massive generation of prospects. As your agency ramps up for the next OEP (Open Enrollment Period), consider the following points to continue training and educating your agents to effectively sell senior-targeted products.

With over 62 million people receiving Medicare benefits, and nearly 10,000 Baby Boomers aging into Medicare each day, the potential to increase Medicare sales in 2022 will be unprecedented, but agencies will need to adjust to some changes in the market. Agencies can take advantage of these vast sales opportunities by understanding the changes introduced by the Centers for Medicare & Medicaid Services (CMS) and how they may affect 2022 sales in Medicare Advantage, Medicare Supplement (Medigap), and Medicare Prescription Drug Plans.

The 65-and-over population controls the bulk of disposable income in the United States. For insurance brokers and agencies, this means that using the right strategy can have a tremendous impact on the bottom line.