I want to help each of you become stronger at selling plan benefits such as over the counter benefits to build logical certainty more quickly in your prospects mind. This is especially important when selling Medicare products to the senior market. We need to be sensitive to their needs and take the time to explain the important benefits.
Over the counter benefits (OTC) are largely under sold and most agents typically only mention OTC benefits such as vitamins and band aids. They are a critical component to HMO and PPO plan benefits.
I used to do the same thing, so I’m as guilty as the rest of us! 😊
I had a strong increase in Medicare sales results once I prioritized OTC benefits as a strong selling point in my sales presentation.
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 going to miss some MAPD sales! I promise you!
Using Medicare Over-the-Counter Benefits in Your Sales Presentation
The key to using OTC benefits to help build logical certainty in your sales presentation is putting the OTC benefits into a scenario that your prospects can relate to.
What are your prospects doing day-to-day that could be resolved with OTC and put some money back in their pocket?
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 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.
The scenarios are endless and don’t let your annual contract renewal be the only time you bring it up.
Don’t let the OTC benefits fall to the wayside. There is a lot of savings that your prospects are not taking advantage of. And, they won’t unless you educate them!
28 Common OTC Items
Below are 28 common over the counter benefits you can use in your sales presentation 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 Strong Over the Counter 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.
- Wellcare
- Humana
- Anthem
- Aetna
- 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.
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 moving forward!
Do right by your client and educate them on the available plans and match them with the plan that best fits them the most.
