Why Medicare Agents Should Consider Selling ACA Products
(And How to Do It Right)
If you’re a Medicare sales agent, you’re already helping people find health coverage. But have you ever thought about expanding into the under-65 market by selling ACA (Affordable Care Act) plans? Selling ACA products is a great way to grow your business, reach new clients, and offer more comprehensive support to those needing affordable health coverage. Let’s explore why adding ACA plans to your portfolio is wise and how you can effectively market these products to a younger audience.
Why Selling ACA Plans Makes Sense for Medicare Agents
You might wonder why you take on the ACA market if you’re succeeding in Medicare sales. Here are a few reasons why:
- Increase Your Client Base: ACA gives you access to millions of potential clients under 65 who need health coverage. Many of these clients are actively looking for affordable health insurance options, and you can be the one to provide them with coverage.
- Year-Round Sales Opportunities: ACA plans have both an Open Enrollment Period (OEP) and multiple Special Enrollment Periods (SEPs) throughout the year. That means more chances to make sales and grow your commissions, even when Medicare enrollment is over.
- Help Clients Transition to Medicare: When you sell ACA plans, you can build relationships with clients who will eventually age into Medicare. By serving them before they turn 65, you establish trust and become their go-to agent when it’s time to switch to Medicare.
Understanding the ACA Market
So, who’s your target audience when selling ACA plans? Anyone under 65 who is not on Medicare or incarcerated is eligible for ACA plans. Think about young adults and families without employer coverage, self-employed individuals, and lower-income individuals. People who have employer coverage may not be eligible for ACA. Many of these people are actively searching for affordable healthcare options. The need will continue to grow especially as the cost of living continues to rise.
The ACA marketplace offers subsidies to make health insurance more affordable, meaning many of your potential clients can get plans at a very low cost (sometimes as low as $10 a month). In fact, in 2023, four out of five marketplace enrollees found plans for $10 or less a month! *
* U.S. Department of Health and Human Services
Keep in mind, ACA coverage includes essential health benefits, such as doctor visits, hospital stays, prescription drugs, and more. This makes these plans a valuable product for your portfolio.
How to Market Under-65 ACA Plans
Marketing ACA plans is a bit different from Medicare, but with the right strategy, you can succeed. Let’s look at a couple of ways to get started:
- Leverage Your Existing Network: Start with your current clients! Do they have family members under 65 who might need health coverage? Do YOU have family members who might need health coverage? Reach out and offer to help them find an ACA plan that fits their needs. You’d be surprised how many people will appreciate the convenience of working with someone they already know, like, and trust.
- Advertise in Your Community: Remember the power of your local community. Post flyers with tear-off contact info in high-traffic spots like coffee shops, libraries, churches, and grocery stores. These are places where people might pause and notice your information, especially if they need affordable health care.
- Go Digital: Most under-65 individuals spend their time on the internet, so your online presence is crucial. If you don’t already have one, create a website that showcases your services. Be sure to optimize your site so that when people Google “health insurance agent near me,” your name comes up. A Facebook business page is another must-have. Post regularly, share health insurance tips, and respond to questions to engage with your audience.
- Cold Calling (Yes, It Works!): Cold calling is still an effective method, especially for ACA leads (NOT for Medicare). You can legally cold-call ACA prospects if you follow your state’s tele sales rules and scrub leads against the Do Not Call list. Ensure you understand the plans you’re offering inside and out so you can confidently guide potential clients through their options.
- Partner with Small Businesses: Many small business owners do not offer employer-sponsored health insurance to their employees, which means their staff may be in need of affordable coverage. This is where you come in! You can help these employees (and the business owners themselves) find affordable individual health plans through the ACA marketplace. Remember that we’re talking about enrolling these individuals in ACA plans, not Small Group or SHOP plans. By partnering with local small businesses and connecting with their employees, you can become a trusted advisor and offer a valuable service without the need to navigate Small Group insurance offerings.
Where to Find Potential Leads and Referrals
Finding leads for ACA plans doesn’t have to be complicated. Here are some practical ways to grow your lead list:
- Friends and Family: You don’t have to look far to get started. You probably have a personal network already. Let your friends and family know you’re now offering ACA products. They might need coverage themselves, or they could refer you to someone who does.
- Online Lead Generation: Many companies specialize in generating ACA leads. You can purchase pre-qualified leads from these sources, which can give you a solid list of potential clients to call. Just make sure the leads you buy are scrubbed against the Do Not Call list to avoid any legal issues. Reach out to NCC to discuss ways to maximize your leads.
- Referrals: As you probably know from Medicare sales, word-of-mouth referrals are gold. When you do a great job helping a client find the right health plan, ask them to refer you to friends, family, or coworkers who might also need coverage. Referrals are the most cost-effective way to grow your business. Ask early and often!
Integrating the ACA Market Into Your Medicare Sales Strategy
So, how do you fit ACA products into your current Medicare sales strategy? It’s easier than you might think. Here’s how you can seamlessly integrate the under-65 market:
- Cross-Sell Opportunities: When you work with Medicare clients, remember to ask if they have family members who need ACA coverage. You can offer to help their spouse, adult children, or other relatives under 65 find affordable health insurance, which creates more sales opportunities with each client.
- Build Long-Term Relationships: By offering ACA plans to clients before they turn 65, you’re building a relationship that will last. When it’s time for them to transition to Medicare, they’ll already know and trust you. This can make the Medicare enrollment process smoother, and you’ll already have a warm lead for your Medicare services.
- Year-Round Business: ACA plans have Special Enrollment Periods (SEPs) throughout the year, giving you sales opportunities even during Medicare’s off-season. This can help keep your business steady and your commissions rolling in all year long.
Final Thoughts
Selling ACA products can be a great business addition for Medicare agents. Not only does it open up new client opportunities, but it also helps you build longer-term relationships and keep your business growing year-round. Demand for affordable health care is on the rise, and now’s the perfect time to dive into the ACA market. From leveraging your existing network to building an online presence and cold-calling leads, there are plenty of ways to succeed in selling ACA plans. So, why not give it a try?
