Each new year brings new opportunities, and 2022 is already shaping up to an exciting year. This is a great time for professionals in the insurance and financial industries. To take advantage of the new opportunities in 2022, it’s time to get organized.
Medicare Opportunities
2022 should be a great year for insurance agents selling Medicare products.
The Medicare Advantage Open Enrollment Period (MA OEP) runs from January 1 to March 31. During the MA OEP, people who are currently enrolled in a Medicare Advantage plan can switch to a different Medicare Advantage plan or switch to Original Medicare and enroll in a Medicare Part D prescription drug plan if needed. (Note that CMS regulations restrict MA OEP marketing. Review the Medicare Advantage Marketing Regulations for compliance details.)
In addition to the MA OEP, there are many year-long opportunities, including age-ins. The United States Census Bureau says that about 10,000 seniors turn 65 each day. Many of them will need help navigating Medicare. Special Enrollment Periods and Special Needs Plans provide additional opportunities.
Individual Health Insurance
Not everyone has access to health insurance through a job or a program like Medicare.
According to Upwork, 36% of the U.S. workforce did freelance work amid the pandemic. Gig work can be great, but the downside is that it doesn’t typically provide health insurance or other employee benefits. As more and more people leave traditional employment in favor of freelance work and business ownership, the need for individually purchased health insurance is likely to increase.
The Health Insurance Marketplace is a major source for health insurance. Normally, people need to enroll during the annual Open Enrollment Period. However, Healthcare.gov says some people may qualify for Special Enrollment Periods based on various events. These Special Enrollment Periods can occur throughout the year.
Life and Final Expense
LIMRA says that the number of life insurance policy sales increased 8% in the first six months of 2021, and that the period saw the highest policy sales growth since 1983.
The pandemic has sparked interest in life insurance. This is a good time to talk to people about their life insurance and final expense needs.
Get Organized
There’s a lot of opportunity ahead, but you need to be ready to seize it.
- Develop your marketing and sales goals for 2022. Push yourself to make this your best year ever.
- Create a game plan. Think about what you need to do to achieve your goals. Then create a plan with specific benchmarks throughout the year.
- Audit your contacts. You don’t want to let leads slip through the cracks. A good CRM system can help you keep track of current and prospective clients.
- Gather your supplies. Do you have enough business cards? What about marketing materials? Make sure you’re equipped with everything you need for a great year.
Are you ready to seize opportunities in the new year? It’s easier when you have the right support. See why agents choose to contract with PTT.