You may be hearing about people no longer having Medicaid benefits and wondering: how will this affect my broker business? There were an estimated 95 million people enrolled in medical and dental insurance through Medicaid and CHIP (the Children's Health Insurance Program) as of March 2023. This was up by 23.3 million based on the number of people enrolled as of February 2020.
A bill passed by Congress in 2020 changed the public health insurance landscape. It allowed low-income Americans to be automatically enrolled in Medicaid benefits. The Medicaid automatic enrollment program is now in the process of winding down. This potentially affects hundreds of millions of people on insurance.
Key Takeaways:
- Millions of people started losing their Medicaid benefits as of April 1st, 2023.
- Those who are expected to be most affected include children, people who have moved, those with limited English proficiency, and people with disabilities.
- Medicaid changes create new opportunities for selling dental insurance.
- Dental care is essential for good overall health.
This is your opportunity to shine – earn a new set of clients and build relationships by helping navigate the people displaced by Medicaid. People will need dental, vision and other health insurance coverage. Consider the following resources for guidance on how to sell these benefit products and highlight your services:
Who is most affected by the Medicaid disenrollment.
Some people are expected to be more affected than others due to the rollbacks in Medicaid eligibility. This includes:
- People who have moved states.
- Immigrants
- People with limited English proficiency
- People with disabilities
- Children: they are the main beneficiaries of dental benefits through Medicaid.
There are limited dental coverage provisions for adults on Medicaid. So, pitching to these potential clients can be a great opportunity to get both children and families motivated to enroll in dental benefits. With a better understanding of the people affected you can talk further about the importance of dental benefits.
Highlight the overall health impact of dental issues.
Dental care isn’t just about cosmetics. Although that can be a powerful incentive for some people. Oral health and overall health are connected. So, you should be stressing this to your potential clients.
It all starts from childhood. Cavities are the most common chronic disease for children in the United States. In fact, more than half of children aged 6 to 8 have had a cavity at least once.
Common issues like plaque buildup and tooth decay can lead to larger health issues, including:
- Heart disease
- Diabetes
- Neurological conditions like Alzheimer’s.
When pitching to clients, you can illustrate your point with educational materials like flyers, online resources like blogs, and social media content. Also let them know that receiving dental treatment has never been easier or less invasive thanks to advances in dental practice and technology.
Show the financial benefits.
Using dental benefits and going in for routine checkups can save your clients money in the long run. It is easier and cheaper to be proactive about oral care. You don’t want to wait until you need serious dental work. Selling dental insurance also makes it more financially accessible for people to receive major services and procedures. Perhaps your client’s child needs braces or one of the parents is waiting on cosmetic dental work. They may not be able to afford the out-of-pocket investment right now.
You can show them a cost estimate with and without dental benefits. One resource you can use is the FAIR Health Consumer website for cost estimates. This can demonstrate that they are making the right choice by continuing to enroll in dental benefits.
Sell on public and private exchanges:
People are becoming more self-educated about insurance benefits and getting closely involved in selecting them. This is due in large part to public and private exchanges. Around 84% of Americans were covered by dental benefits in 2021. If you can work with clients on both types of exchanges you are increasing your sales opportunities.
Almost 21 million people under the age of 65 have gained health care coverage through Medicaid. Then consider those who are being affected by the recent coverage changes. The demand is there for qualified brokers like you. You will want to make sure you are certified to sell on state and federal exchanges.
Demonstrate your customer service skills.
If you offer a portfolio of dental products, as well as other ancillary and healthcare insurance, you are making it easier to meet the unique needs of your clientele. This should be matched by a high level of customer support. As a broker, you want to be educated so you can answer any benefit questions they have about your products. You can talk about the different plans you have, such as:
Take the time to learn about what is important to your clients, and what their health goals and requirements are for benefits. You will be able to share your insights based on experience and research. By taking these steps, you are going from a salesperson to a knowledgeable advisor.
Use the opportunity to cross-sell your products.
If you have clients looking for a new dental plan you can use the opportunity to cross-sell your other insurance product offerings. This could include vision and life insurance. If you offer dental savings plans you can earn additional commission, as there are no claims or associated administration fees.
Losing access to insurance coverage is never easy for anyone. You are in an important position to help clients find a new solution to their needs. You can sell them on your skills and services, while demonstrating that they are the priority. With each meeting and interaction, you are laying the foundation for your client relationships.
Any questions about your current Solstice products? Login to your portal on https://www.solsticemarketplace.com/
Want to start selling Solstice? Give us a call at 877-760-2247 or email us at sales@solsticebenefits.com
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