How To Sell More Health Insurance During Open Enrollment?

Sell More Health Insurance During Open Enrollment

January’s Open Enrollment period is hectic for health insurance agents and accountants alike.

Managing new leads, attending to client demands and renewals, attending to internal needs, and attempting to keep organized between them may be challenging and overwhelming. But if you have a plan for this season, your business can make a lot of money.

Medicare Advantage membership has surged by 5.6 million or 50% since the Affordable Care Act was passed. This proves that many people seek health insurance from November to January. But how do you win them?

Be confident in your abilities, and don’t let stress get in the way of your productivity during this hectic time of year. Make sure you have a strategy for making the most of open enrollment and selling health insurance. Review some tried-and-true procedures to make the busy season less stressful at your health insurance company.

What Is Open Enrollment, And How Does It Work?

Open enrollment is when individuals can sign up for, renew, or make changes to their health insurance plans in the individual market, as mandated by the Affordable Care Act (ACA). During this time, employees can sign up for the company’s health, life, disability, vision, and dental plans, among other possible benefits.

The open enrollment period typically begins in the first week of November and concludes in the second week of December for coverage to start on January 1 of the following year. While the deadline for enrollment in most states is December 15, citizens of several states have until January or February to secure health insurance.

Case-specific circumstances may also necessitate the implementation of a special enrollment window. A person can enroll in or switch health plans outside the annual open enrollment period if they have a qualifying life event, such as tying the knot or having a baby.

Your clients should be encouraged to take stock of their employer-sponsored benefits during open enrollment and ensure they provide a competitive benefits package that will attract and retain top employees. One of the most important things a business can do for its success is to review its perks annually and make any necessary adjustments.

How to Market Medical Insurance During Open Enrollment

The following suggestions can assist you in selling more health insurance throughout open enrollment.

1. Simple Is Best

Health insurance purchases trigger a “fight or flight” response. It’s inevitable when dealing with health, life, and death issues. And what makes matters worse is that everyone worries about things that may or may not be covered because of the situation’s complexity.

Although selling insurance is a careful and long-winded process, it need not be daunting. Before they ever get to you, most clients have already been through hell. It’s up to you to make the process of acquiring insurance quick and painless.
The unique terminology of the health insurance industry can put people off. Be as transparent as possible by explaining everything in simple words.

2. Analyze The Coverage Benefits

It is beneficial for your clients, be they an individual or an organization, to begin exploring alternatives as soon as possible. A simple phone call to the people you’ve helped get health insurance could be all it takes to find out how they appreciated your services this year and whether or not they’d like to switch plans to fill in any gaps.

So, check in with them to see whether they think they’re paying a reasonable amount for insurance and if you can help them look into other options. Choosing a suitable high-deductible health plan and starting a health savings account are two examples of how you may enlighten your customers on how they can save up and run through possibilities they might not have previously considered.

3. Improve The Efficiency Of Your Calls

When shopping for an insurance lead management solution, keeping a few things in mind is essential. During Open Enrollment, these features will make sales calls more lucrative.

  • Scripting With Conditional Logic

A compelling script ensures that you keep on topic when speaking with potential clients. A system with logical branch scripting will lead a salesperson to make sensible, repeatable calls that provide consistent outcomes.

  • Preview And Progressive Dialing

Preview and progressive dialing can help you establish a steady flow of calls and boost your call volume by as much as 100 percent.

  • Message Drop

Have a prerecorded message ready to send to a potential client’s voicemail or answering machine. s a salesperson, you will inevitably have to leave a message on someone’s voicemail. Hopping a message takes only a click, and you can immediately move on to the next call. It’s an excellent strategy to broaden your network.

  • Drip Emailing For Lead Nurturing

Maintaining contact with leads between phone calls is simple with a lead management tool that offers email drip lead nurturing. It’d be best to set up email drip campaigns to inform leads, help filter out unqualified leads, and motivate potential customers to take action.

4. Seek Out The True Source Of Suffering

Knowing your customer’s pain points is essential when offering solutions. Although each client presents unique challenges, there are several things they all have in common that can’t be overlooked.

In the five minutes that follow, jot down the most often-asked inquiries from your clientele. How do you think each question makes the prospect feel? Does a trend emerge?

You can classify pain into four categories:

Financial Pain: Your client wants to cut back on spending since they’re sick of spending so much.

Process Pain: The customer can no longer put up with the hassle of your business’s procedures to get the desired outcome.

Support Pain: The consumer has experienced discomfort since you failed to meet their expectations for help, which they had previously placed in the hands of a different salesperson or firm.

Productivity Pain: Your consumer dislikes wasting time trying to customize a solution to fit their needs.

5. Make Sure You’re Asking the Correct Questions

To use your list of FAQs effectively, you must first become familiar with its content. Don’t let your years of experience keep you from learning new ways to engage potential customers.

What questions may an insurance salesperson ask to close the deal? The objective is to keep the client engaged in conversation. Start with some free-form inquiries.

Suppose you question a consumer, “Do you prefer a policy that includes chiropractic?” They have no other option except to respond with a yes or no. Do you have a broader or more specific view of the topic?

Returning to the list you just made, rewrite it so that the closed questions are now open. It would be best to do this now and thank yourself afterward.

Conclusion

It’s best to start preparing for open enrollment in health insurance as soon as possible. Most likely, you have already shifted into Open Enrollment mode. It’s time to put that outlook to use in the most efficient, productive, and helpful way you can right now.

Finding the right benefits for your customers is a time-consuming process. But once you have this knowledge, you’ll be prepared to make the most of open enrollment.