What’s your strategy for post-AEP? As the hustle of the Annual Enrollment Period winds down, it’s crucial to remember that your work doesn’t end there.
The post-AEP period is the perfect time to build on the foundation you’ve created. Take the opportunity to follow up with your clients, ensuring they’re happy with their plans. Just as importantly, explore additional ways to meet their needs by introducing ancillary products that could enhance their coverage, like hospital indemnity plans. It’s a great way to add value and strengthen client relationships.
Protect Seniors from Unexpected Costs with Hospital Indemnity Plans
Seniors often live on fixed incomes and need to be prepared for unforeseen health expenses. According to a CDC study analyzing data from 1980 to 2010, the average hospital stay for those over 65 was 5.6 days in 2009-2010. In 2010, nearly one in five seniors with traditional Medicare experienced an inpatient hospital stay, with those individuals paying 50% more out-of-pocket than seniors without hospitalizations.
Medicare Advantage (MA) plans with low premiums often come with high inpatient hospital copays, making extended hospital stays financially challenging. Just a few days in the hospital can cost seniors thousands of dollars in out-of-pocket expenses.
Hospital indemnity plans offer a solution by providing a pre-determined benefit directly to the beneficiary when they are hospitalized. This payment is made regardless of network restrictions, giving clients flexibility and peace of mind. These plans are designed to help cover inpatient hospital copays and other related costs. Sometimes, a simple explanation of these options is all it takes for clients to see the value.
A Win-Win Opportunity
Not only do hospital indemnity plans ease the financial burden on your clients, but they also offer generous commissions and can be sold year-round. Discussing these plans gives you an opportunity to strengthen client relationships while preparing for the next sales cycle.
Take the time to follow up with your clients after AEP—ask them what worked and what didn’t with their current plan. Better yet, meet them in person to explore their options. Face-to-face conversations foster trust and simplify complex decisions. A Forbes Insights survey of 760 business executives found that in situations requiring back-and-forth decision-making, face-to-face meetings were preferred for clarity and collaboration. By connecting directly, you position yourself as a trusted advisor and set the stage for long-term success.
Not affiliated with or endorsed by Medicare or any government agency.
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