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How People Buy Health Insurance and How to Sell More Policies

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Fran Majidi August 3, 2021
Sell more Health Insurance Policies

Insurance agents have a more challenging time selling health insurance these days. For one thing, many people became eligible for Obamacare plans due to the COVID-19 pandemic. To make enough in commissions to keep an agency door open, health insurance agents must find a way to reach more people in order to sell insurance plans beyond the affordable care act health insurance coverage.

The good news is that more people with an income are buying private health insurance than ever before, largely because the pandemic made everyone realize how important health coverage is. Some people learned the hard way that it will cost more to get sick while uninsured than paying a monthly premium. There are also other reasons that people are also electing to buy privately rather than electing their employer's health insurance plan, including privacy.

Some people learn the hard way that it will cost more to get sick while uninsured than paying a monthly premium.

Local businesses are a goldmine for health insurance agents. Ask an employer, "Are also looking for a group health insurance plan for your business? Have you considered other options than the one you have today?" As you navigate your way through the health insurance marketplace this year, know that SmartFinancial is an ally during the open enrollment period with quality health insurance leads and calls for individuals and businesses. Regardless of which states you cover, this article will offer tips on how to sell health insurance plans more efficiently this year.

Ask Everyone to Spread the Word for You

Family members and friends are a good place to start if you want to spread the word that you can find people quality health care coverage that's within their budget. Your close network of people have first-hand experience working with you and can convincingly tell friends and associates how satisfied they were with your expertise. A good experience with an insurance agent is the best way to get new business.

Go beyond friends and family and reach out to existing health insurance clients. Tell them that the health insurance marketplace is only open until mid-December and that you want to reach as many people that need health insurance as possible. Offer incentives, like gift cards, for signing up new clients based on their referrals. Buying a health plan can be confusing so hopefully, your existing clients will spread the word that you've made buying health insurance a little simpler and more transparent.

Your existing clients can spread the word that you've made buying health insurance a little simpler and more transparent.

Ask business owners if they have good health benefits in place and if they want to see the provider network for the insurance company or companies you represent. An employer always has the option of adding new health plan options to their offerings each year, and if they don't offer health insurance, ask if you can get your business card in the hands of their employees. Keep in touch with an employer for as long as you have to: it may eventually pay off.

Do an Internet Search

Does your agency come up in local searches for health insurance agents? If not, make sure you sign up for a Yelp page, neighborhood pages and any directories for health insurance agents. Health insurance shoppers should be able to call you up based on zip code. Many will want to meet you face-to-face or over Zoom but many people are buying health insurance over the phone these days.

Stand Out with Your Customer Service

A good agent will take the time to help a shopper understand their options and answer all of their questions about the tier system, copays and healthcare provider lists, so be kind and patient with every caller, even if they aren't quite ready to buy a health insurance policy right away.

Even if a lead only wants advice and you never sell that person health insurance coverage, be kind and stand out as someone who delivers excellent customer service. They may refer you to a friend or associate who may be shopping for health insurance because their job doesn't offer it.

Even if the shopper is eligible for a plan with a government subsidy due to low income, be polite and give them the same attention you would to someone who'd actually bring in a profit. They may refer you to a friend or family member if give them some proper attention. Think of open enrollment as an opportunity to broaden your network, whether or not you sell a policy to each person you befriend. You never know when someone will need to buy insurance due to a qualifying event, like finding or losing a job.

Get into Reputable Health Insurance Associations

Some people shop member lists like the National Association of Health Underwriters or state-run associations, like the California Association of Health Underwriters. Get onto as many data lists for health insurance agents as possible.

Some people shop member lists like the National Association of Health Underwriters

Reshop Health Insurance Plans During Open Enrollment

Convince people to look twice at their insurance policies, stressing that there are more options than ever. If the shoppers have a child, tell the parents that you sell a particular policy that is more cost-efficient than others but will fit the needs of that child.

Give shoppers details about the coverage you're selling, making sure to get them past the premium price, which is not the only cost for services. Tell them about all costs in great detail.

Contact a Local Doctor or Two

Healthcare providers may not give you a list of patients with their phone numbers but if you work really hard at gaining the trust of a doctor or two, they may send along with an email or create a post on their website with information about open enrollment. If they share your information to help their patients buy health insurance, you'll quickly grow a book of business with very little effort.

Leads Are Still the Best Bet for Health Insurance Agencies

Place filters on leads so you can sell the plans you want to sell to the right people.

SmartFinancial's dedicated account managers will help you place filters on leads so you can sell the plans you want to sell to the right people. Organic leads, generated from informative articles on our website, can help you on your search to meet new people. Give us a call today at 877.323.7750.