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Four New Opportunities for Financial Advisors from Healthpilot

Medicare is about to become a lot more fun to talk about. Because now Healthpilot offers the opportunity for you to show your clients a better Medicare experience.

In the past when clients brought up Medicare, you probably couldn’t wait for them to change the subject. After all, you’re a financial advisor, not a Medicare expert. So, you may have thought there was little you could do for these clients. And Medicare didn’t offer much of a business opportunity for you either.

When you partner with Healthpilot, you can be the hero for your client. Because once you refer them to us, we find them the right Medicare plan for their needs. We even make it easy to enroll online, in minutes.

So, before you refer another client to a healthcare broker, here are four ways Healthpilot creates opportunities for financial advisors.

Opportunity 1: Attract new clients.

When you partner with Healthpilot, we’ll find the right Medicare plan for your clients’ healthcare needs — for life. They can potentially save hundreds, even thousands, every year. Plus, Healthpilot lets you see one of the largest expenses for Medicare-eligible investors — their estimated healthcare costs. That’s attractive to clients who want their advisor to provide holistic financial guidance. The right plan for life . . . hundreds in potential savings . . . moving multiple financial topics under one advisor. Selling points like these may be just what you need to bring in new clients.

Opportunity 2: Retain existing clients.

In the past, you may have sent clients to a healthcare broker. But with Healthpilot, you have a Medicare expert for a partner. So why send clients to another healthcare broker? Many of them double as financial advisors. At Healthpilot, we don’t sell financial advice. We’re not competition. Plus, we find the right Medicare plan for your clients every year. So, clients have another reason to stay with you.

Opportunity 3: Make Medicare expenses part of financial planning. 

After your clients enroll in a Medicare plan with Healthpilot, you’ll be able to see their estimated costs and savings on your advisor portal. Then you can use this data in your financial planning. That gives you another reason to reach out to clients, potentially generating new revenue. As the industry reduces its dependence on fees, it is essential to expand the scope of your financial guidance.

Opportunity 4: Spend more time focused on your clients.

Of all the opportunities for financial advisors Medicare can offer, this is the most important. Your time is limited. You have clients who need you. You don’t have time to go down a Medicare “rabbit hole.” Let Healthpilot be the Medicare experts. First, we’ll help you identify Medicare-eligible clients. Then, with one click you can send them an online referral. After that, they can find the right plan and enroll online on Healthpilot — all on their own.

Don’t miss these opportunities for financial advisors. 

As healthcare costs rise, your clients will depend more and more on your guidance. Now you can be the hero who protects your clients from wasting money on the wrong Medicare plan. By partnering with Healthpilot, you can seize these opportunities to increase revenue and retention.

Learn more about Healthpilot for financial advisors and create your account today.  

Let’s talk about what partnering with Healthpilot can do for your business. Email our Healthpilot Partner Success Team at [email protected]. 


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4 Reasons Your Medicare Plan Needs a Check-Up Every Year

To make sure you have the right Medicare coverage, you should review your plan every year. If you don’t give your plan a check-up, you may discover that your current plan raised costs more than you expected or stopped covering one of your prescriptions. That’s why it’s so important to create a habit of reviewing your Medicare plan options every year with Healthpilot.

Here are 4 reasons your Medicare plan needs a check-up every year:

  1. Medicare plans can change.
    Your Medicare Supplement Insurance (Medigap) premiums may increase. Your Part D prescription drug plan may introduce new medications and stop covering others. If you have Medicare Advantage, one of your doctors may move out-of-network. All sorts of changes are possible, so you need to be aware of them. Look for the Annual Notice of Change letter from your Medicare plan every year at the end of September. The letter will summarize all the changes to your coverage that will go into effect January 1.
  2. Your healthcare needs change, too.
    The coverage you had last year may not be the coverage you need now. Have you developed any new medical conditions since you enrolled in your current Medicare plan? Are you seeing any new specialists? Or have you successfully treated a condition so that it is no longer an issue? If so, consider whether your Medicare plan has given you what you need during these changes.
  3. You could save a lot of money.
    According to a study by the Kaiser Family Foundation, about half of those who explored their plan options annually reduced their premiums. Last year, most Healthpilot customers were offered plans with savings over $500 compared to their current coverage. Don’t miss out on reviewing your coverage. You could miss out on significant savings.
  4. There are lots of options out there now. 
    If your current plan doesn’t work for you anymore, you have plenty of alternatives to choose from. But you don’t have to sort through all those plans yourself. After all, you may have dozens of Medicare plan options, depending on where you live. Just go to Healthpilot and tell us a little about how you use healthcare. Then we’ll search plans in your area and find the right plan for your specific healthcare needs.

Give your Medicare plan a check-up every year 

Too many people pass up the opportunity to review their coverage every year. As a result, they can end up stuck with plans that are too expensive or don’t provide the right coverage. Make a habit of reviewing your Medicare plan options every year on Healthpilot, so you won’t be one of them. A good time to give your plan a check-up is during the Medicare Annual Election Period that runs October 15 through December 7. Additionally, many people qualify for Special Election Periods which will allow them to get a new Medicare Advantage or Prescription Drug plan outside of the Annual Election Period. And you can make a change to your Medicare Supplement Insurance at any time throughout the year.

Healthpilot is free, easy and secure

Healthpilot is a free, easy and secure way to shop Medicare plans online, with no obligation to enroll. Our technology predicts what coverage you would get from each available plan and what it could cost. We look beyond copays and premiums to factor in things like deductibles and coinsurance, too. You can then review your estimated out-of-pocket costs and savings for each plan compared to Original Medicare, also known as Medicare Part A and Medicare Part B.

Once you choose a plan, you can enroll online in minutes. And if you do enroll in your Medicare plan through Healthpilot, we’ll alert you if a plan that could be better for you becomes available. So, you never have to worry about finding the right health plan again.

Check out your recommended plan

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How to sign up for Medicare Parts A and B (Original Medicare)

People with Medicare who want additional coverage, more peace of mind, or lower healthcare costs can consider enrolling in Medicare Advantage Plans, Medicare Part D Prescription Drug coverage or Medicare Supplement Insurance (Medigap). Healthpilot offers all three. But before you can enroll in any of these plans, you must first sign up for Medicare Parts A (hospital insurance) and B (medical insurance), also known as Original Medicare. (You can learn the basics of Medicare here.) Here’s how to sign up and what to expect.

The Initial Enrollment Period.

Most people become eligible for Medicare three months before turning 65. If you are disabled, you can become eligible earlier.

Your first opportunity to sign up for Medicare Parts A and B is the Initial Enrollment Period (IEP). This period lasts seven months: three months before you turn 65 + your birthday month + three months after.

Enrolling in Medicare after 65.

If you or your spouse are actively employed and are planning to remain on your (or your spouse’s) employer-sponsored plan after 65, make sure you understand how Medicare and employer insurance work together. The time to start planning your transition from employer coverage to Medicare is a few months before you turn age 65. If you enroll in Medicare Part B at 66 or later — and you (or your spouse) are not actively employed — a late enrollment penalty may be added to your premium. So it pays to plan ahead.

Even if you delay signing up for Medicare Part B, you should consider signing up for Part A as soon as you’re eligible. For those who have worked for 10 years and paid Medicare taxes, there is no Part A premium, so there is no reason not to sign up.

Sign up for Medicare through Social Security.

You must sign up for Medicare through the Social Security Administration. But you do not have to start collecting Social Security yet. You can apply for Medicare only.

If you are already receiving Social Security, there is no need to sign up for Medicare. You are already enrolled. Those who worked for the railroads may also be automatically enrolled in Medicare through the Railroad Retirement Board.

How to sign up and what to expect.

There are several ways to apply for Medicare. The process usually takes 10-20 minutes.

Sign up online.
First, you need to create an account on the Social Security website. Then you can sign up for Medicare online. During the Medicare application process, you’ll receive an application ID number you can use to log in again if you need to stop for any reason.

Information you will need to sign up:

      • Date and place of birth. If you are not a U.S. citizen, you will need your Permanent Resident Card number.
      • Current Health Insurance. You will need start and end dates for your (or your spouse’s) current coverage and employment.
      • Medicaid Number. If you have a Medicaid number, you will need to this along with start and end dates for your coverage.

Sign up by phone.
Call Social Security at 1-800-772-1213. TTY users can call 1-800-325-0778.

Sign up in person.
You can make an appointment to sign up at your local Social Security office. Find yours here.

Sign up by mail.
You can also send a signed and dated letter to Social Security with your name, social security number and the date you would like to be enrolled in Medicare.

Keep records.

However, if you choose to sign up, keep records. If your application is lost, you can use these records to avoid receiving a Part B premium penalty. Print or save a confirmation of your application submission. Take notes on whom you speak to and when. If visiting the Social Security office, ask for a receipt. If applying by mail, use certified mail.

Look for a welcome package from Medicare.

About two weeks after signing up, you should receive a welcome package from Medicare, including your Medicare card. You can log into your my Social Security account to check the status of your application.

Enrolled? Now is the time to strengthen your coverage.

Once you are enrolled in Medicare Parts A and B, you can enroll in a Medicare Advantage Plan, Medigap, or a Part D Prescription Drug plan. Original Medicare does not cover most outpatient prescription drugs, routine dental, routine vision, and hearing.   And Medicare Part B typically requires you to pay 20% of the cost of doctors’ services, lab tests and x-rays after you pay your deductible. Reasons like this are why most Medicare users seek additional coverage.

The best time to get Medicare Advantage or a Part D Prescription Drug plan is when you first enroll in Medicare Part A and Medicare Part B. Signing up for Part D when you’re first eligible can help you avoid paying a lifetime Part D late enrollment penalty. For Medigap, you’ll want to sign up within six months of your Part B coverage going into effect. If you apply later, you may have to pay higher premiums, or you may be denied coverage due to your health status.

Save time. Let Healthpilot find the right Medicare plan for you.

Visit Healthpilot to find the right Medicare plan for your needs. It’s free, easy and secure. Then come back every fall during Medicare Annual Enrollment to review your coverage and make any desired adjustments. Once you enroll, we’ll monitor available plans and let you know if we find one that could be better for you, so you never have to worry about health insurance again.

Even if you aren’t yet eligible — or the enrollment period you need is weeks away — you can still compare plan benefits and costs. Then, once you have reached an applicable enrollment period and signed up for Medicare Parts A and B, you can log back into Healthpilot and apply for the right Medicare plan in minutes.