How Advisers Can Rev Up Sales With Medicare

An older client listens as her financial adviser talks.

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Building a sustainable and lucrative business model often requires thinking beyond the basics. One such opportunity for financial professionals is capitalizing on Medicare to build a significant amount in a renewal stream.

I'm not kidding. By leveraging your existing client base and offering them Medicare strategies, you can help create a predictable, long-term income source through renewals. This isn't me preaching, but speaking from experience.

I have asked many financial professionals, "Will you get rich overnight offering Medicare to your clients?" The answer is no.

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The Kiplinger Building Wealth program handpicks financial advisers and business owners from around the world to share retirement, estate planning and tax strategies to preserve and grow your wealth. These experts, who never pay for inclusion on the site, include professional wealth managers, fiduciary financial planners, CPAs and lawyers. Most of them have certifications including CFP®, ChFC®, IAR, AIF®, CDFA® and more, and their stellar records can be checked through the SEC or FINRA.

But can you build wealth over time? Absolutely — with the right strategy and patience, it's within reach.

Advisors Excel launched its Medicare Solutions division in 2019. Fast-forward just six years, and the fruits of our labor are paying big dividends for hundreds of producers.

In 2024, for instance, AE producers earned more than $15 million in commissions and renewals solely from Medicare.

What's keeping you from getting in on the action? The opportunity to help several of your clients and even prospects can be limitless.

The opportunity with Medicare

You've likely heard the statistic that over 11,000 Americans will turn 65 every day this year — and every one of these individuals needs to make a Medicare decision. Based on those numbers, the opportunity to help several of your clients and even prospects can be limitless.

What makes Medicare sales particularly attractive for financial professionals is the nature of renewal commissions.

Unlike many types of insurance policies that require clients to reapply annually or every few years, Medicare Advantage and Medicare Supplement, or Medigap, policies often offer ongoing renewal commissions as long as the client remains enrolled in the plan.

By selling Medicare to your existing clients, you can build a recurring revenue stream, creating the potential for substantial financial growth over time.

A value-add for existing clients

If you already have a client base that trusts you for other financial products, offering Medicare can be a natural extension of your services.

The key is to approach the conversation in a way that emphasizes the value it provides to your clients rather than simply focusing on making a sale.

One way to do this is to offer a "Medicare Checkup" or "Medicare Review" service, where you schedule regular meetings with clients to help ensure they're in the right plan based on any changes in their health or financial situation.

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Doing this year after year offers the opportunity to create a strong client-retention strategy while simultaneously building a renewal stream.

Another way to increase awareness with your current clients and prospects is to hold a "Medicare 101" seminar.

AE Medicare Solutions has all the tools to help with this; we can provide the presentation deck, speaker notes and guidance on which trusted vendors can help get the invite out.

So again, what's keeping you from getting in on the action?

Investing involves risk, including the potential loss of principal. Any references to protection, safety or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier.

Our firm is not affiliated with the U.S. government or any governmental agency. Neither the firm nor its agents or representatives may give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any purchasing decisions. Past performance is not indicative of future results. 4511538 – 7/25

Disclaimer

This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Todd Morrissey, President of AE Medicare Solutions, has spent over 30 years in the insurance industry, primarily focusing on Medicare. His journey into the Medicare field was sparked by a personal connection, driven by the desire to better understand the health care options available to his parents.