Medicare OTC benefits are largely ignored by many agents as they think it’s only band aids and Tylenol.
All it takes is some digging into what’s commonly available across many of the carrier’s OTC benefits and you’ll begin serving as a better resource to your clients and prospects. And, you’ll generate a strong ROI standing firmly on the foundation of doing what’s right for the customer.
This article will help you become stronger at educating your customers about their over-the-counter benefits (OTC) in your sales presentation, a fundamental tactic to building strong, undeniable logical certainty.
Table of Contents
- Understanding logical certainty and it’s role in your sales presentations.
- Mindset of OTC.
- 30 common Medicare OTC benefits you should be discussing.
- Example OTC uses to help your customers live healthier lives.
What is logical certainty and why it’s important?
Logical certainty is a universal sales psychology tactic designed to educate your customers to simply understand “how” what they are buying actually works. Said another way, if they fully understand how something works, it becomes easier for them to visualize the benefit of using it in the future.
In this case, how their Medicare OTC benefits work and the subsequent value they will receive when their new plan is effective.
As a Medicare sales agent, your job is to paint a clear picture in your prospects mind of how their new benefits work and the value they will provide when they become effective. You are the expert and have painted it so clear, they are excited for their benefits to kick in due to the better drug coverage, potentially lower maximum out-of-pocket risk, all of their doctors consolidated into one network, no referrals, immense OTC perks, etc.
They are so emotionally connected to the benefits they will soon receive and understand exactly how their benefits will work to deliver them peace of mind!
This is especially important when selling Medicare products to the senior market. You need to be sensitive to their needs and take the time to explain the important benefits and make sure they understand “how” their benefits will work for them.
You need to be an expert on your products and blend that with the patience needed to educate your prospects to the point they understand how the plan you are presenting to them works.
Using Medicare OTC Benefits to Build Logical Certainty in Your Sales Presentation
If you’re like most agents, you probably gloss over the OTC section and only hit on band aids component. News Flash! Medicare OTC benefits are so much more impactful than vitamins and band aids and it’s your job to properly educate your prospects.
If you’re not making OTC benefits a priority in your presentation, you’re missing a great moment in your sales meeting to build logical certainty with your prospect.
Remember, people buy on emotion and justify on logic!
The key to using OTC benefits to help build logical certainty is putting the OTC benefits into a scenario that your prospects can relate to and understand.
What are your prospects doing day-to-day that could be resolved with OTC benefits through their Medicare plan and put some money back in their pocket on a monthly basis?
How can it improve their healthcare?
- Maybe they are diabetic and didn’t realize diabetic socks are covered in their OTC
- Are they grandparents who have their grandkids around a lot? Do they know children’s pain medication, allergy meds, and other things like toothbrush and toothpaste, and anti-itch cream is available?
- Have they recently been told by their physician they need to lose weight? They can use their OTC benefit to cover the cost of a digital scale and vitamins such as fish oil to begin building better habits around their health.
The scenarios are endless and don’t let your annual contract renewal be the only time you bring it up.
30 Common Medicare OTC Benefits Items
Below are 30 common over the counter benefits you can use to better connect your prospects to the additional benefits they can qualify for in various health plans.
- Allergy medicine (Allegra) and nose spray (Flonase)
- Children’s Tylenol & Ibuprofen and Pedialyte (great for grandparents)
- Miscellaneous pain relievers.
- Cold medicine, cough drops, and Sudafed
- Thermometers
- Stool softeners
- Heartburn / Acid Reflux meds
- Eye drops
- Cotton balls
- Overnight Maxi Pads
- Neosporin
- alcohol prep pads
- Diabetic socks
- Firm Compression Socks
- Lancets
- Colon cancer test
- Blood pressure monitors
- Quad cane
- Bath Mat
- Hearing Aid batteries
- Tablet cutter
- Digital body scale
- Whitening toothpaste
- Toothbrush
- Floss and Cordless water floss system
- Skin Lotion
- Laxatives
- Sunblock
- Hand sanitizer
- Lots of vitamins
These and many others are easily available using the carrier order form. Definitely check the complete list by carrier to see the eligible items.
Great Examples of Medicare Companies with Good Medicare OTC Benefits
There are many health insurance companies that include over the counter benefits with their Medicare Advantage plans. Below are 5 examples of companies that offer over the counter benefits.
- Aetna
- WellCare
- Humana
- Elevance
- Cigna
While this list only includes 5 commonly known household insurance companies, there are many Medicare Advantage plans that include over the counter benefits. For more information directly from Medicare, click here.
Summary
The key to building great relationships and maximizing your closing percentages with your prospects is successfully transferring CERTAINTY to them. Guide them to a place of comfort by explaining how the benefits will work for them in real life examples.
Medicare OTC benefits are jam packed with items your prospects are using monthly and I promise you they aren’t aware of all the great items that are available.
If they understand the value of your proposed plan and how it works, then you can paint the picture of how great their new plan year will be when they are using those benefits on a monthly basis.
Remember, prospects justify their purchase decision by having strong logical certainty of how the plan works, they make their enrollment decision on the emotional certainty of how the benefits will help them in the new year.
Do right by your client and educate them on the available plans and match them with the plan that best fits them the most.
