How to End the AEP Season Off Right

November 17, 2021 | AEP, Agents, Brand Development

With November already being halfway over and Thanksgiving coming up in just a week, it may be safe to consider this to be the beginning of the end of this year’s AEP season.  And, if you’ve been hitting the ground running since Oct. 15, then you may be thinking to yourself, Wait, we’re already coming up on the end? And, believe us, we’re feeling the same way. We’ll celebrate the new year in another blink of an eye.

Ending the season strong is the best way to have a successful AEP season. Ending the season strongly means you treated AEP with the same amount of effort throughout its entirety, and it shows how tenacious an agent you are. This article will cover some of how to end the season right, just in time for the holidays. Let’s get started.

Set a schedule to meet with your newest clients

Just like you hit the ground running for AEP, upholding that energy, after the AEP season ends, is equally important. As soon as you have open availability, you want to schedule times to meet with your newest clients so you can determine how they feel about the plans they’ve selected through you.

It’s extremely important to meet in person with your newest clients. You will want to establish an “offline” connection with them in any way that you can to build trust.

Create a game plan to generate leads for next year

Lead generation should always remain a priority for insurance agents. Lead generation is one of the most solid ways to attract customers interested in having you as their insurance agent, mainly because it’s a constantly changing tool.

Before beginning to work with lead generation, especially if it’s a new concept for you, you should ask yourself some questions about the subject. Doing so will give you a great outline of your overall goal, who you’re going to want to market to, and how you’re going to deploy your marketing tactics.

Trust us, we understand how overwhelming lead generation can be, especially if it’s not something you’ve worked with before.

Look into requirements for next year’s AEP

Although it’s easy to think that things will remain the same, some plans and requirements will change between now and next year’s AEP season. A great way to end the current season is to start understanding what could change and what would stay the same for 2022.

You can do this by compiling a list of things you must do to prepare for the AEP season. However, one of the most responsible things you can do in preparation for next year is to start getting ready for the annual AHIP test and keep your lead generation game strong. Additionally, you’ll want to order supplies from your carriers as early as possible because carriers may run out of them.

Remind your leads and clients about the Special Enrollment Periods

Unfortunately, the AEP season is not all peaches and cream. Because of that, there are different enrollment periods outside of the Annual Enrollment Period. One thing that many of your prospects may be unaware of is that they cannot enroll in a Medigap plan. Although they can switch from an Original Medicare plan to a Medicare Advantage plan, switch Medicare Advantage plans, add Part D plans, and more, Medigap is not an option.

As you know, seniors can enroll in Medigap during their open enrollment period (OEP), the six-month window surrounding their 65th birthday. When he or she decides to do this, no questions about his/her medical health must be answered. However, if someone chooses to enroll in a Medigap plan later, the same questions that he or she could have avoided will need to be answered. And, even then, there’s no guarantee of eligibility or coverage.

So, as you remind your client about Special Enrollment Periods, you can tell them that policies like Medigap could be applied during these times under the condition that they qualify. Typically, clients qualify for this SEP if they wish to switch from their Medicare Advantage plan to Medigap.

Prepare to continue building your reputation

AEP takes a lot of time out of your schedule. So much so that you probably have put reptation-building on the back burner. And, when you take the time to think about it, you’ll realize that your reputation is something that you will have to continue to build for the remainder of your career, no matter how long you’ve been at the insurance game. This is because you should always strive to have good client relationships. Having a great relationship with your clients is the key to growing your business and, more importantly, maintaining solid client retention.

You can focus on building your reputation by sending “thank you” or “reminder” cards to those you’ve met with and haven’t spoken to during AEP. This will let your clients know you’re still thinking of them, regardless of when you last spoke with them.

When you continue to build upon your reputation, you’ll slowly see an increase in the demand for your services, which every insurance agent strives to achieve. In this case, who doesn’t love a win-win?

Have a clear vision for next year

We know, we know. This task is much easier said than done. Odds are, you’re completely swamped in the best of ways with how much you’ve got going on during AEP. But if you have nothing lined up to carry you through the end of the year and nothing to get 2022 started, you will be sitting around and twiddling your thumbs when other agents and brokers are moving on.

Outline the things you and your team will want to highlight next year, and from that list, choose the things you know you will want to accomplish by the beginning of 2023 or even by the 2022 AEP season and evaluate whether these goals are S.M.A.R.T. If you’re unfamiliar with the SMART acronym, it’s a great way to help you set clear, achievable goals. If a goal is specific, measurable, attainable, relevant, and timely, then your goal is considered smart.

An example of a typical smart goal for an insurance agent would be setting sales goals. Sales goals could be as frequent as weekly or as infrequent as quarterly or annually. Measuring sales goals is a great way to reward yourself and recognize the hard work you’ve put forth.

Take the time to recognize what you’ve accomplished

If you haven’t taken the time to congratulate yourself on how well you’ve performed during the AEP season, then now is the perfect time to do it. We recognize that you’ve worked hard throughout the season, so you can’t end it without acknowledging how much time and effort you spent to ensure it was a prosperous time for everyone.

Our suggestion is to take a day to yourself — once the season ends — to sit back and recharge yourself. Just because the AEP season will be over doesn’t mean there isn’t more to do. So, during that magical moment when you can take advantage of doing nothing, take it. You’ll be more energized and happier than you did. Besides, could there be a better way to congratulate yourself for everything you’ve done?

Summary

You’ve got a lot going on during the AEP season, so you must understand how to end it properly. Finishing it right is just as important as starting it off powerfully. Ensure you take the time to consider how you can implement each of these suggestions into your work schedule. The best ways you can successfully end your AEP season include:

• Setting a schedule to meet with your newest clients,
• Creating a game plan to generate leads for next year,
• Looking into requirements for next year’s AEP,
• Reminding your clients about special enrollment periods,
• Preparing to continue building your reputation,
• Reminding your leads and clients about Special Enrollment Periods and
• Take the time to recognize what you’ve accomplished.

As you start looking past AEP and need any assistance in planning for the end of the year and next year, don’t hesitate to reach out to Lead Concepts. One of our goals is to help your business grow. Our lead experts are waiting to hear from you today, and you can call them at 800-283-0187.