May 9

Medicare Supplement Marketing: How to thrive in a competitive market

Marketing Medicare supplement insurance (also known as Medigap insurance) can be a challenge, as there are many regulations in place to protect consumers and prevent misleading or deceptive advertising.

We have a few tips for marketing Medicare supplement insurance effectively and ethically:


Know the rules

Familiarize yourself with the Centers for Medicare & Medicaid Services (CMS) guidelines for marketing Medigap insurance. These guidelines include rules about what you can and cannot say in your marketing materials, as well as requirements for the disclosure of certain information. If you know the rules well, it will help you be able to assist your clients in a quick and timely manner. 


Target your audience

Know who your target audience is and tailor your marketing messages accordingly. For example, if you are targeting seniors, you may want to focus on the benefits of Medigap insurance for covering the gaps in Medicare coverage. Think about it from the perspective of the audience which helps create a clearer message.


Be clear and transparent

Make sure your marketing materials are clear, easy to understand, and transparent. Avoid using confusing or technical language, and disclose all relevant information, including costs, benefits, and limitations. Make sure to get directly to the point to catch and keep the attention of your audience. 

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Cross-sell the right way

When selling plans in the Medicare Advantage market, suggesting extra support to their insurance coverage is vital. Finding the right plan is important for you and your client. One way to cross-sell is introducing Medicare Supplement plans to your client in addition to Medicare Advantage.

For example, not all of the cost might be covered by your client's Medicare Advantage plan. Since your client already trusts you, keep that good rapport.


Emphasize how the customizable drug plan works

With a Medicare Advantage drug plan, the prescription drug portion is packaged, so you have to take it as a comprehensive plan. However, with a Medicare Supplement plan your client can customize their prescription drug plan.

This flexibility gives you a whole access point of freedom that will make your client happy. There is more leeway that can help you write business efficiently.


No AHIP certification smoothens out the selling process

With no AHIP certification, this takes a level of the worry out of the Med Supp selling process. If you fail AHIP, you then run the potential of not only not being able to sell that year, but also losing all of your renewals. That is the case for selling Medicare Advantage but not Medicare Supplement.


Use testimonials

Use testimonials from satisfied customers to help build trust and credibility. Be sure to get permission from customers before using their testimonials, and ensure that the testimonials are truthful and not misleading. If someone reads a success story, then they will more likely trust you.

It is also important that you keep it positive with testimonials and not talk negatively about other insurance plans. Keep the message light and to the point.

Roger Richards
February 7, 2022

Just wanted to give Michael Newton a big thank you. He really went above and beyond in helping me start a digital presence.

duncan pea
December 17, 2021
kimberly mcmullin
October 11, 2021


Repetition is the key to success

When it comes down to it, keeping the repetition continuous is essential when it comes to selling Med Supp plans. The more clients you get in front of, the better rhythm of selling you will develop. Also, the more conversations that take place will keep you in the loop with the ins and outs of the Medicare Supp market.

There is a constant amount of changes in the market so the more conversations you partake it will keep you current with the business.


Partner with other organizations

Partner with other organizations, such as senior centers or health clinics, to reach your target audience. Offer educational seminars or informational sessions to help seniors understand their options for Medicare coverage. Networking is the whole name of the game and you never know who you are going to meet.


Follow up to grow your Medicare Supp book of business

Follow up with potential customers to answer any questions and provide additional information. Be responsive and helpful, and be sure to provide accurate and honest information.

People are busy so you never know who you might capture the attention of on a 2nd try.


Focus on the benefits

Emphasize the benefits of Medigap insurance, such as increased coverage and financial protection, rather than the features of the policies. Find ways to showcase the positives of those benefits which help your client overall in the long run.

At the end of the day, clients want the best plan that will save them the most money. They want the right benefits for them so it is important to find out what your clients desire.

Effectively promoting Medicare Supplement insurance

Remember, marketing Medicare supplement insurance requires a delicate balance of effectively promoting the benefits of the policies while also adhering to strict regulations and ethical standards.

By following these tips, you can develop a successful and ethical marketing strategy for Medicare supplement insurance. We would love the opportunity to help you grow your book of business here at Tidewater Management Group. 

Call 888-622-9122

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