I was recently at a meeting organized by one of the major insurance carriers. The big topic was open enrollment and the goal was to get us excited about selling Medicare Advantage plans. They talked about how much money the company made when they sold Medicare Advantage. They talked about how much money we agents make when we sell Medicare Advantage plans. Their representative even talked about how much more money she made when everyone sold a bunch of Advantage plans.
When she got up to get more coffee we talked. There was about 15 of us there. Of those 15 agents 12 were already over the age of 65 and were in the Medicare system. How many of those agents had the Advantage plans that the insurance company wanted us to sell so badly? Exactly, zero. Nada. Not one. Nobody. So before you sign up for your next Advantage plan ask yourself and your agent a few questions. How much money do they make off of Advantage plans vs supplements in commission? If they were in the Medicare system which one would they go with? See if they blink.