4 Characteristics of Agents Who Successfully Sell Special Needs Plans

A Special Needs Plan (SNP) is a great product to add to your portfolio. This is especially true since there are 7.3 million Americans currently enrolled in any SNP.

While we think selling SNPs can greatly help to boost your business, there are some things to consider first. Let’s look at the answer to this question: What characteristics do you need as an agent to successfully sell SNPs?

What Is a ‘Special Needs Plan’?

The Centers for Medicare & Medicaid Services (CMS) explains that SNPs are “designed to provide targeted care and limit enrollment to special needs individuals.”

SNPs fall under the category of Medicare Advantage plans. There are different types of SNPs based on differing eligbility:

• Dual Eligible Special Needs Plans (D-SNPs) — Clients must qualify for Medicaid and Medicare.
• Chronic Condition Special Needs Plans (C-SNPs) — Clients must qualify with a covered chronic condition on Medicare.
• Institutional Special Needs Plans (I-SNPs) — Clients must be MA-eligible for 90 days or longer and are expected to need care provided by a specific facility.

For each type, there are certain criteria that clients must meet to be considered eligible. Additionally, plans might be integrated or non-integrated depending on whether they coordinate with their state’s Medicaid program. They could also have different networks, including HMO or PPO.

1. Educated on Plans

Given that there are three different types of SNPs and each has different qualifications underneath each, it’s essential that you know which SNPs help which clients of yours.

D-SNP

For example, dual-eligible individuals qualify for Medicaid & Medicare because their income is low and they’re disabled. This means you’re more likely to get clients in low-income areas than in wealthy neighborhoods.

C-SNP

For C-SNPs, you have to pay attention to the list of chronic conditions that make your client qualify, such as dementia or chronic heart failure. To see the full list of qualifying conditions, visit CMS.gov.

If you’re still eager to learn more about prospecting and selling C-SNPs, consider cracking open our eBook, The Guide to Prospecting and Selling C-SNPs!

I-SNP

I-SNPs are the least common among the three SNPs. Since there are more criteria one must meet to qualify for an I-SNP, knowing that about your client is crucial to determining if this is the right fit for them. For more information on I-SNPs, watch our Knight School video on I-SNP eligibility and enrollment.

Note: These are not typically broker sold.

2. Open to Travel

Due to the differing nature of each of these plans, you will most likely find prospects in the following places:

D-SNP

• Areas with low-income housing
• Rural counties

C-SNP

• Specific chronic condition per geographic location

I-SNP

• High concentration of willing facilities and residents
• Urban areas

Maybe you grew up around these places, or you may have even volunteered there at one time or another. Everyone has different experiences. Having an open mind is extremely important when selling SNPs

3. Empathetic

Empathy is a valuable trait for any insurance agent. It’s especially beneficial for agents who are selling SNPs.

Imagine you are in your client’s position Think about how you would want to be treated and spoken to. An agent who will excel in selling SNPs is one with a compassionate heart.

Selling SNPs may be a good route for you to take if you’re the kind of agent who likes to go above and beyond for your clients. You could help connect them to local resources in their area, such as community centers and food banks.

BenefitsCheckUp.org is also a good place to start. Going the extra mile for your client now may lead to greater client retention in the future.

4. Determined & Patient

If you asked 10 other agents if they sell SNPs and why, you might get 10 different answers!

Agents can struggle with selling SNPs for a variety of reasons. One of which is the time required to invest in your client if you want them to understand their coverage and stick around.

You may have to figuratively hold your client’s hand through the process and give them a significant amount of guidance. Patience is very valuable in cases like this.

It’s easy to make a SNP sale; it’s also easy to lose one. Why?

One reason is what we call the “ooh, shiny” effect. SNP enrollees can switch plans more often than regular Medicare Advantage enrollees.

SNPs can offer great benefits. It makes sense for a beneficiary wanting to plan a switch to improve their situation. If you don’t invest the time needed, another agent can easily take your client.

It’s easy to make a SNP sale; it’s also easy to lose one.

Thus, to sell SNPs successfully and retain the client base, you must be thorough:

• Explain the details of coverage and how it works
• Help them navigate enrollment
• Clue your client in on how much work has gone into finding the right plan for them
• Describe how to utilize the benefits
• Follow up regularly
• Provide superior customer service

When another agent shows up with a shiny, new SNP, your client may call you with questions. They most likely won’t just switch without talking to you first.

If you aren’t ready to spend time and effort into building relationships and educating your clients, then SNPs may not be right for you.

Working with SNP-eligible individuals can be very rewarding and with many benefits. But you should answer these questions honestly about yourself before diversifying your portfolio.

If you answered “yes” to these three questions, then selling SNPs might be the next best move for your insurance business!

Our team at Ritter Insurance Marketing can help you get started selling D-SNPs and support you every step of the way. Register with us for free to get started.