Medicare’s Annual Enrollment Period (AEP) is a marathon, not a sprint. It runs from October 15 to December 7, meaning that insurance agents need to sustain their energy for nearly eight weeks of marketing, meetings and paperwork. With the right preparation, you can maintain your energy, serve your clients and stay productive throughout AEP.
What Should Agents Expect This AEP?
Medicare insurance sales agents can expect another busy AEP.
CMS says 70.6 million people are enrolled in Medicare, 90.6% of whom are age 65 or older. Just over half of all Medicare beneficiaries are enrolled in Medicare Advantage, and more than 80% have Medicare Part D coverage. This AEP will give all of these Medicare Advantage and Medicare Part D enrollees an opportunity to review their coverage and switch plans.
Although enrollees often stay in their current plan without exploring other options, coverage changes and market exits may prompt some enrollees to take a closer look at their options this AEP. Agents should be ready.
How Can Agents Prepare for a Productive AEP?
When you’re in the middle of a busy AEP, it’s easy for time to slip away from you. Advance preparation can help you make the most of the limited time available, so you can stay responsive to clients, keep administrative work on track and take advantage of sales opportunities.
1. Get organized.
Poor organization can lead to wasted time, and you don’t have any time to waste during AEP.
- Create your schedule. Don’t just schedule your meetings. Schedule everything. When are you going to handle marketing, follow-up, paperwork and all the other tasks that still need to get done during AEP? If you don’t block out time, you may find that you never get around to it.
- Know where everything is. You don’t want to waste time looking for supplies or files. Get your office and your devices organized so you know exactly where everything you need is.
2. Prevent avoidable disruptions.
Nothing drains your energy faster than a crisis. Sometimes unexpected emergencies arise and there’s not much you can do about it. However, many problems can be prevented with a little precaution.
- Order supplies. You don’t want to run out of supplies in the middle of AEP. Make sure you have sufficient marketing supplies from your carriers. Also check your other supplies, including business cards, branded pens and anything else you’ll need for AEP. If you’re running low, order extras as soon as possible.
- Maintain your car. If you’re driving around town to meet with clients, you need a reliable car. Check your tires, keep your gas tank full and have your vehicle checked out if you hear strange noises, see a warning light or notice any other cause for concern.
- Keep your devices charged. Charge your devices each day. Although you can bring a charger with you, you may have difficulty finding a place to plug in your device. Consider investing in a spare power bank to avoid dead devices.
3. Give yourself a break.
Sometimes, maintaining your energy means giving yourself a break. AEP lasts for weeks, and you’ll need to recharge yourself.
- Plan short breaks during the day. You can take a walk, stretch or engage in quick mindfulness exercises to help stay refreshed during a busy day. Calm has a list of mindfulness exercises that take five minutes or less.
- Take care of yourself. Try to make sure you’re eating and sleeping well during AEP. Consider planning out healthy meals ahead of time. Good Food has recipes for batch preparing healthy meals.
- Reward yourself. Plan some nice rewards for yourself during and after AEP so you have something to look forward to. This can help you stay motivated.
AEP will always be busy, but the right preparation can make those eight weeks more manageable. Here at PTT Financial, we want to help you have a productive AEP. See how PTT Financial supports agents.