Quoting health insurance for your clients is only efficient if you have the right tools, and this is particularly true with Medicare. Even some Medicare quoting software won’t have the tools you need.
Let’s examine how an Estimated Annual Retail Drug Cost for Medicare Advantage (EARD) tool is one of the most valuable ways to boost efficiency when working with Medicare clients.
Everyone understands that Medicare is a maze and that prescription drug coverage is a complex topic. Put the two together and you probably even scratch your head from time to time.
For seniors, it is extremely problematic to understand these topics. Even the vocabulary is complex with terms like covered prescription drugs – which is known as a formulary for some reason – generic drugs, tiers, monthly premiums, deductibles, copayments or coinsurance, coverage gap costs, catastrophic coverage, and more. Unfortunately, it’s critical for seniors to understand how Medicare and drug coverage impact their lives.
Luckily, Quotit’s EARD tool can help you and your clients navigate the complexities of Medicare and prescription drug coverage.
When it comes to Medicare and Medicare Advantage plans, you can turn to Medicare.gov to pull Medicare quotes, and your clients may also use the site as a helpful resource. However, the Medicare website is cumbersome to use.
Your key to increased Medicare sales is to use a platform that includes robust health insurance agent tools that streamline the entire quoting and enrollment process. When that platform also helps your clients better understand their prescription drug costs with Medicare RX and Medicare Advantage Plans, everyone comes out ahead.
Let’s look at why Quotit’s EARD tool is an essential component of its Medicare quoting software.
Simply put, the EARD tool gives you a competitive edge, putting a drug cost calculator directly at your fingertips. EARD is more than a simple Medicare quoting tool; you might even consider it a game changer. Here are the key benefits of Quotit’s EARD tool.
The EARD tool is the ultimate tool for time and effort savings. It’s a one-stop solution for calculating out-of-pocket drug costs, pharmacy drug pricing comparisons, and gap coverage calculations. You are able to provide instant and precise estimates of annual drug costs under different Medicare prescription plans.
Maintaining preferred healthcare providers is important, especially for seniors who may have well-established medical relationships that span multiple years or even decades. When your clients can continue with the same doctors, medication management is improved and can influence overall healthcare expenses. Identifying and verifying in-network providers adds an important layer of information for choosing a prescription coverage plan.
Different plans often have different formularies, so it’s important to understand which medications a client currently takes. Prescription matching lets you tailor plans to specific healthcare needs, so your clients have the plans that cover their medications at the lowest cost or with the least restrictions
Perhaps the most impactful benefit of Quotit’s EARD tool is that it empowers you to provide superior service. Your clients will have a much clearer understanding of the plan choices they make, letting them make an informed decision. You’ll also have one more way to build trust and nurture long-term relationships with your clients as you demonstrate that you want what’s best for them.
Not all Medicare enrollment software will have the quoting tools you need. The best solution providers release regular product updates with the features that you need and post those updates on their website.
That still may tell you what you want to know, and you’ll probably end up doing a deep–dive into platform features. Finding the solution that best fits your needs in that way takes a lot of effort.
So, we did it for you! We researched the top five health insurance management platforms, conducted a side-by-side comparison, and created our 2024 Health Insurance Management Platform Comparison Guide.
Are you ready to revolutionize your Medicare quoting process?