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Colleen Callahan Discusses What You Need to Know About Medicare

Sep 01, 2015 02:08PM ● By Colleen Callahan

In August, my local insurance association hosted a daylong seminar covering Medicare. The purpose was to provide information on current tools and education, working in the Medicare market, and finding agents.

I enjoyed the variety of presenters. One in particular, Marcy Updike from Gen Re, provided insight into the Baby Boomer mindset. Gen Re conducts market research in this area. They have conducted surveys and focus groups with agents and consumers. The findings seemed similar to what we see in our practice.  Consumers want clear explanations, may use multiple sources for information, prefer talking to someone over reading material, and seek being well informed. She further described Baby Boomers as hard working, inclined to protect freedom and individual rights, goal oriented, valuing education, focused on being fit, enjoying being involved in group activities, and wanting to explore new experiences.

The fact that most Baby Boomers prefer face-to-face communication fits well with our model of doing business. I enjoy my work the most when I can sit with a client or prospective client and learn about them.  When that person is about to be Medicare eligible, having a face-to-face meeting is essential.

Moving from an employer plan or an individual plan to Medicare and a supplement is like exploring a new world.  The sense of adventure might not compare to planning a trip to Cuba or South America, but one wrong step and you can end up with a plan that you don’t want or like or doesn’t really meet your needs.

If you are nearing Medicare eligibility, I would be glad to help you with the decision for a supplemental plan. If your birthday is approaching, it is a good time to consider a review of your Medicare supplement. You might be able to reduce your cost.

Colleen Callahan, CLU, CASL, LUTCF