As a health insurance agent, you’re here to solve everyday problems your clients face. You’re finding the right-fitting plan at an affordable price point. You’re helping them put strategies in place to meet their deductibles and out-of-pocket maximums. And, you’re heading off any issues they might have with their coverage.
But despite your great intentions, some clients will still object to what you’re offering. The nerve!
Here are five common objections and a strategy for overcoming each of them.
“No thanks, I’m happy with my current plan.”
The prospect’s perspective: It’s entirely possible they are happy with their current plan. It could also be that they simply don’t want to talk to you, and this is their nice way of saying so. But, there’s still an opportunity here, if you’re willing to look for it.
Your strategy: Acknowledge their satisfaction, but gently inquire about possible gaps in their coverage. You may not sell a major medical product (yet), but you can open the door to supplemental health conversations.
An example: “I’m glad you're happy with your current plan. Tell me, though, what resources do you have to meet that deductible? Are you comfortable with what you pay when you see the doctor or fill a prescription?”
“I can’t afford something else.”
The prospect’s perspective: It’s not unheard of for individual or family plans to see a 9% hike each fall. Medicare Supplement plans continue to rise. You still have zero-premium Medicare Advantage plans, but even then, MOOPs are climbing. Insurance can feel unaffordable, especially if they haven’t shopped around in a while.
Your strategy: There are strategies to make things more affordable in any market. Believe it or not, many folks simply aren’t aware of the Advance Premium Tax Credits they could use on the Marketplace. Household discounts could make your Medicare Supplement clients breathe easier. And, you can help connect other Medicare clients with Medicare Savings Programs, Extra Help, or other programs as appropriate. You can always help them shop for a better price point. There’s always at least one lever you could pull here.
An example: “Premiums and benefits can always change from year to year. I can help you evaluate what’s on the market. We can also check your eligibility for programs to help lower costs. “
“I’m too confused to make a decision.”
The prospect’s perspective: It takes a lot for someone to admit they’re confused. Doubly so when they’re admitting it to a relative stranger. If you hear this, believe it!
Your strategy: This prospect needs education and a more personal touch. Book an in-person consultation to help evaluate their needs and build health insurance literacy.
An example: “I hear you. Almost 60% of people would rather sit in traffic than navigate health insurance enrollment on their own. Fortunately, you don’t have to! Let’s schedule a time to sit down and go over your options together. I’m here to help you make the best decision for your needs and budget.”
“I don’t trust insurance companies.”
The prospect’s perspective: Unless you’re combing their press releases, it’s hard for consumers to come across good news about health insurance during some news cycles. Prior authorizations, pharmacy benefit managers, compliance problems, and a slew of other issues can leave a sour taste in consumers’ mouths. There’s also a possibility that what they’re really saying is: “I don’t trust you. Yet.”
Your strategy: It’s time to showcase the track record of the carriers you plan on representing. Individual and family plans have quality ratings that tell the relative story of member experience, medical care, and plan administration. Star Rating flyers in the Medicare market give even more detail. Explain that the government regularly monitors plans and that you only recommend top-rated ones to your clients.
An example: “I understand your concern. But, the plans I work with have a strong reputation for customer service and medical care. Would you like to learn more about their track record? We can even look at ratings on the area you’re concerned about.”
Close the deal
If selling health insurance was easy, they’d call it play – not work. But, these strategies can help you overcome some of the most common barriers you’ll see to sales. And, if these don’t do it for you? Just reach out to our individual team. They’re chock full of sales strategies to help you make the most of this enrollment season.
Action Benefits : Apr 18, 2023
Action Benefits