The Medicare Conversation That Leads to Planning Opportunities

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I was recently prepping for my session with First Protective, a company that markets insurance products. Its first annual Advanced Planning University will arrive virtually in August. I was asked for my session’s title. My answer was, “Covid-19, Cobra and Retirement – Medicare Planning Mistakes to Avoid.”

That title was met with a bit of hesitation and an “andddddd, what do advisors actually do with that information?”

Holy smokes. I could rattle off an hour talk on that topic alone.

After years working with those age 65-plus in their transition to the Medicare system, I’ll share some ideas and tips that will lead to some great conversations between you and your clients – and, likely some added revenue for your practice.

Don’t fear Medicare

First things first. Please don’t be afraid of bringing up Medicare or health insurance with your client. Ask the question, “Mr. Smith, where is your insurance coverage held today?” Mr. Smith will get a tad excited that you even asked and rattle off, “Well, it’s with my workplace and I pay too much for it and the deductibles are out of control so I’m excited to move over to that free Medicare stuff when I retire.”