How Wearable Technology is Affecting Medicare

An emerging trend in the healthcare industry is wearable technology, which is reshaping how Medicare brokers advise their clients. Major carriers are not adopting policies that incorporate wearable technology.

Just what exactly is wearable technology? These devices are commonly worn as bracelets or rings and can monitor or track major health concerns among Medicare beneficiaries. Activities such as sleep health, eating habits, exercise, and more disease precursors are all monitored by the individual (and the app) who pays attention to trends and spikes.

Rosamaria Marrujo, a board member of the Sacramento Association of Health Underwriters (SAHU), says, “These factors could theoretically bring down insurance premiums and therefore change how clients choose their Medicare policies.”

Regulations on wearable technology are underdeveloped relative to the expansion they are seeing. Despite a rising concern for public health due to possible privacy violations, the Food & Drug Administration (FDA) does not classify wearable technology as medical devices. In California, the Consumer Privacy Act went into effect in January 2020, allowing people to stop companies from selling their information upon request. With this implementation, a movement could be sparked, igniting stricter regulations for wearable technology in the health insurance market.

“Both the advancement in wearable tech and these new privacy chances are influencing how older clients are deciding on healthcare plans. The bottom line is, this trend is not stopping; it has already reached Medicare beneficiaries who have questions. The successful Medicare brokers will be able to anticipate this and explain the impact to their clients,” said Marrujo.

For more information about offering Medicare to your clientele, contact the experts at Omega Benefit Strategies today.
 

Omega Benefit Strategies provides seniors who are affiliated with credit unions, labor unions, and associations an educational resource for Medicare. Our turnkey marketing packages seamlessly integrate with existing market strategies. We can help businesses increase new member acquisitions, bolster retention, cross-sell opportunities via our “scorecard” system, and even earn an ancillary revenue stream. Accommodating any size membership, we maintain exemplary member service and offer top-notch products. Contact us today by going to www.omegabenefit.org or call 888-404-5049.

Written by the digital marketing staff at Creative Programs & Systems: www.cpsmi.com.

Five Tips to Maximize Your Brand Visibility with Experiential Marketing

As you review your brand’s marketing strategy for the new year, you might be leaning toward experimental marketing, which can provide more of a Return on Investment (ROI) than traditional advertising sources. Experiential marketing (also known as engagement marketing) invites an audience to interact with a business in a real-world situation. Using hands-on, tangible branding material, the company can showcase its goals, values, and offerings.

  1. Consider your audience: While experimental marketing is a wonderful way to connect with your audience, in the COVID-19 era, it might not be the best strategy for everyone. Before implementing your plan, consider who you are trying to reach. Think about the best way to connect with them in the safest and most comfortable way possible.
  2. Utilize technology: The best way to reach your customers might be through a social media platform such as Facebook Live, Instagram, or YouTube. There are many tools available online to orchestrate virtual events, meetings, and the like. These applications are beneficial for complying with state or local COVID-19 protocol. Moreover, you can expand your reach through technology, as some people might not have participated if not for a virtual setting.
  3. Create focus groups: When looking to implement experiential marketing, develop unique ideas through focus groups. Discover how these individuals react to specific strategies to gauge how your audience will respond. Engaging focus groups will help predict your overall audience reactions.
  4. Be bold: Fully understand your marketing strategy while delivering a clear and concise message. Create a world where your audience can fully engage in your story. Provide delightful, shocking, and surprising marketing campaigns. Showcase your brand and give your audience tools to share it with the world.
  5. Plan accordingly: Take educated risks without rushing too much. It’s easy to get excited and start implementing ideas, but don’t get sloppy. Your audience of customers can easily scrutinize, so make sure your strategy is strong, direct, and can stand up to opposition.

Omega Benefit Strategies provides seniors who are affiliated with credit unions, labor unions, and associations an educational resource for Medicare. Our turnkey marketing package seamlessly integrates with existing market strategies. We can help businesses increase new member acquisitions, bolster retention, cross-sell opportunities via our “scorecard” system, and even earn an ancillary revenue stream. Accommodating any size membership, we maintain exemplary member service and offer top-notch products. Contact us today by going to www.omegabenefit.org or call 888-404-5049.

Written by the digital marketing staff at Creative Programs & Systems: www.cpsmi.com.

Three Tips to Deliver a Strong Insurance Pitch

Three Tips to Deliver a Strong Insurance Pitch

Insurance sales can be challenging. It requires a balance of friendly tactics blended with your promotional. All too often, sales-driven rhetoric seems overbearing to clients. On the other hand, being too friendly can drive people away as well. To avoid either of these situations, it is a good idea to rehearse the insurance sales pitch tips below. This three-step process is a foolproof way to offer a stronger proposal to your clients. Feel free to tweak and customize the steps to benefit your individual needs.

Your Role
The first step is to define your role, being clear about your expectations, limitations, and goals in a clear, concise manner. Try to explain what you do – or can accomplish – in one or two sentences. Figure out the fundamental things every client will need to know and feel before doing business with you. Outline your services, results, and emotions without oversharing. Entice your clients and leave just enough questions to pique their curiosity, so they will have to refer to you for more information.

The Solution
Insurance is all about an answer or solution to a problem. A crucial aspect of your pitch is to demonstrate your knowledge and ability to formulate solutions. Keeping your audience engaged is a critical factor in separating yourself from other insurance agents. One idea is to consider your client’s biggest problem and offer an answer with an added benefit. Offering a resolution provides proof that you can – and have – delivered on your promises. Ousting their doubts and proving you have what it takes makes all the difference.

Action
Persuade clients to take action by putting the ball in their court. Use urgency and action-oriented verbs to appear confident, empowering your client to move forward with you. Avoid falling flat at the end of your pitch, and be as upfront as possible. Frame it in a way where the client simply cannot say no or refuse. It’s important not to rush or ramble, so take your time and speak clearly.

For Medicare insurance strategies or to speak with a customer representative who can help you offer insurance to your clients, contact the experts at Omega Benefit Strategies today.

Omega Benefit Strategies provides senior credit union members an educational resource for Medicare. Our turnkey marketing package seamlessly integrates with existing market strategies. We can help businesses increase new member acquisitions, bolster retention, cross-sell opportunities via our “scorecard” system, and even earn an ancillary revenue stream. Accommodating any size membership, we maintain exemplary member service and offer top-notch products. Contact us today by going to http://www.omegabenefit.org or call 888-404-5049.

Written by the digital marketing staff at Creative Programs & Systems: www.cpsmi.com.

How Leaders Gain Followers in Business

All leaders have at least one follower, yet today’s leadership industry is built on the idea that leaders are superior to followers. This outdated thinking encompasses professionals in the military, business, family, and other relationships. People can browse courses, flip through books, attend workshops, and scan articles for information regarding leadership. From crooks to retired five-star generals, many people are curious as to how they gained success in their endeavors and popularity among their peers. 

Followership, those who choose their leaders carefully, are blatantly ignored as the topic of books, articles, and workshops. Limited research and articles regarding subordinates focus on their behavior in the context of leadership development as opposed to followers’…and oftentimes mistakenly assume followers are amorphous. For these reasons, deeply devoted followers are intertwined and categorized with those who loosely and mindlessly tag along.

To be an effective leader, it is imperative to pay attention to your followers. Know the difference between wants and needs, delivering both at your discretion. Moreover, it is always a good idea to incorporate the following strategies into your daily interactions.

Integrity: Keep your intentions pure and actions transparent. This opens a window for your followers to see your true objectives. Integrity is the choice between convenience and what’s right. Remind yourself and ask internally how your actions will be reflected to others.

Trust: Followers want to know, with complete absolution, that leaders are working for their best interest. Gaining complete trust allows leaders to unlock the potential within followers. With trust, you can achieve motivation and unification while acting as a guide with rationale. By elevating your team, they will work more efficiently, which lets you focus on other things.

Influence: To gain the ever-important trust, you must first use your position to transfer your ideas into the hearts of your followers. Messages are important, but deliveries are even more effective. Influence leads to trust and encompasses integrity; it’s not just about what you say, it’s about what you actually do. Leaders can influence by example and those who stand out influence by showing their actions always equal their words.

Omega Benefit Strategies provides senior credit union members an educational resource for Medicare. Our turnkey marketing package seamlessly integrates with existing market strategies. We can help businesses increase new member acquisitions, bolster retention, cross-sell opportunities via our “scorecard” system, and even earn an ancillary revenue stream. Accommodating any size membership, we maintain exemplary member service and offer top-notch products. Contact us today by going to www.omegabenefitstrategies.com or call 888-404-5049.

Written by the digital marketing staff at Creative Programs & Systems: www.cpsmi.com.

Who is Eligible for Medicare?

Medicare has been around for 55 years, providing health insurance to Americans 65 and older as well as those with disabilities. The process of qualifying for the program is not automatic. Read more to find out whether you are eligible.

People 65 or older

  • If you are a U.S. citizen or permanent legal resident for at least five years and
  • You are receiving Social Security or railroad retirement benefits or have worked long enough to be eligible but have not yet collected
  • You or your spouse is a government employee/retiree who has not paid into Social Security but paid Medicare payroll taxes while employed

People 64 and younger

  • If you have been entitled to Social Security disability benefits for at least 24 months (inconsecutive is okay) or
  • You receive a disability pension from the Railroad Retirement Board and meet specific rules or
  • You have Lou Gehrig’s disease (ALS), which qualifies you immediately or
  • You have permanent kidney failure (regular dialysis or a kidney transplant), and you or your spouse has paid Social Security taxes for a period determined by your age

Other ways
If you are a legal U.S. citizen or have been a resident for at least five years, you can receive full Medicare benefits at age 65 or older. You have to buy into them by:

  • Paying premiums for Part A: hospital insurance. The amount you have to pay depends on how long you have worked; the more work, the higher your credit amount. The credits are based on your income and the amount of time it takes to earn a credit change every year. In 2020, one work credit was earned for every $1,410 in earnings, a maximum of four credits per year. The maximum premium is paid ($458 in 2020) if you accrued less than 30 work credits. If you have 30 to 39 credits, you pay less. If you gain 40 credits and continue working, you will no longer pay these premiums.
  • Paying consistent monthly premiums as other Part B enrollees: doctor visits and other outpatient services. In 2020, the amount totals $144.60 for those with an income of $87,000 or less. Those filing a joint tax return with $174,000 in revenue or less also have the same total amount. Rates increase for those with higher incomes.
  • Paying the same monthly premium for Part D: prescription drug coverage.

To enroll in Part B, you do not have to register in Part A. If you buy Part A, you must also enroll in Part B. Part D can be purchased if you are enrolled in either Part A or B. You cannot enroll in a Medicare Advantage plan or buy a Medigap supplemental insurance policy unless you are enrolled in both Parts A and B.

For more information, head to the Eligibility & Premium Calculator at Medicare.gov. To enroll in Medicare or learn about your options, contact the experts at Omega Benefit Strategies today.

Omega Benefit Strategies provides senior credit union members an educational resource for Medicare. Our turnkey marketing package seamlessly integrates with existing market strategies. We can help businesses increase new member acquisitions, bolster retention, cross-sell opportunities via our “scorecard” system, and even earn an ancillary revenue stream. Accommodating any size membership, we maintain exemplary member service and offer top-notch products. Contact us today by going to www.omegabenefitstrategies.com or call 888-404-5049.

Written by the digital marketing staff at Creative Programs & Systems: www.cpsmi.com.

People 65 or older

  • If you are a U.S. citizen or permanent legal resident for at least five years and
  • You are receiving Social Security or railroad retirement benefits or have worked long enough to be eligible but have not yet collected
  • You or your spouse is a government employee/retiree who has not paid into Social Security but paid Medicare payroll taxes while employed

People 64 and younger

  • If you have been entitled to Social Security disability benefits for at least 24 months (inconsecutive is okay) or
  • You receive a disability pension from the Railroad Retirement Board and meet specific rules or
  • You have Lou Gehrig’s disease (ALS), which qualifies you immediately or
  • You have permanent kidney failure (regular dialysis or a kidney transplant), and you or your spouse has paid Social Security taxes for a period determined by your age

Other ways
If you are a legal U.S. citizen or have been a resident for at least five years, you can receive full Medicare benefits at age 65 or older. You have to buy into them by:

  • Paying premiums for Part A: hospital insurance. The amount you have to pay depends on how long you have worked; the more work, the higher your credit amount. The credits are based on your income and the amount of time it takes to earn a credit change every year. In 2020, one work credit was earned for every $1,410 in earnings, a maximum of four credits per year. The maximum premium is paid ($458 in 2020) if you accrued less than 30 work credits. If you have 30 to 39 credits, you pay less. If you gain 40 credits and continue working, you will no longer pay these premiums.
  • Paying consistent monthly premiums as other Part B enrollees: doctor visits and other outpatient services. In 2020, the amount totals $144.60 for those with an income of $87,000 or less. Those filing a joint tax return with $174,000 in revenue or less also have the same total amount. Rates increase for those with higher incomes.
  • Paying the same monthly premium for Part D: prescription drug coverage.

To enroll in Part B, you do not have to register in Part A. If you buy Part A, you must also enroll in Part B. Part D can be purchased if you are enrolled in either Part A or B. You cannot enroll in a Medicare Advantage plan or buy a Medigap supplemental insurance policy unless you are enrolled in both Parts A and B.

For more information, head to the Eligibility & Premium Calculator at Medicare.gov. To enroll in Medicare or learn about your options, contact the experts at Omega Benefit Strategies today.

Omega Benefit Strategies provides senior credit union members an educational resource for Medicare. Our turnkey marketing package seamlessly integrates with existing market strategies. We can help businesses increase new member acquisitions, bolster retention, cross-sell opportunities via our “scorecard” system, and even earn an ancillary revenue stream. Accommodating any size membership, we maintain exemplary member service and offer top-notch products. Contact us today by going to www.omegabenefitstrategies.com or call 888-404-5049.

Written by the digital marketing staff at Creative Programs & Systems: www.cpsmi.com.

Five Reasons Why Credit Unions Should Shift Marketing Efforts to Baby Boomers

Many credit unions currently focus marketing efforts on millennials, as they will soon make up 75% of the United States workforce. However, baby boomers are presently in need of support, information, and tend to have more disposable income. Continue reading to find out why baby boomers should be your target marketing effort.

  1. Spending: Baby boomers already spend the most among the U.S. generations and will continue to increase over the next two decades. Researchers estimate that within 20 years, baby boomer spending will reach 60 percent, while millennial expenditures will increase by 25 percent.

  2. Engagement: Baby boomers are more adept at personal engagement and are highly attentive to topics they care about. Since many of them are approaching retirement, they take opportunities to learn and understand the landscape they are entering. They prefer phone calls or personal touches as opposed to millennials, who are more adept at virtual and technological avenues.

  3. Loyalty: Baby boomers are incredibly loyal, especially when it comes to brands. Millennials make brands and companies work a lot harder to keep them, while baby boomers are known to be faithful and make referrals when they are satisfied. These customers buy about 66 percent more than non-loyal members throughout the membership.

  4. Volume: Half of the entire U.S. population is 50 or older; 10,000 people are aging into government systems such as Medicare and Social Security daily. The largest wave of baby boomers (those born in 1957) will peak in 2022, increasing numbers until that time. Retirement information is sought out as a valuable resource.

  5. Targeting: You can reach millennials through baby boomers. Most baby boomers influence their loved ones – especially kids and grandkids – millennials included. They have close relationships with their children and are influential in their brand and product choices. In fact, 63 percent of millennials use all or many of the same brands as their elders.

For more information or to speak with a representative about directing your marketing efforts to baby boomers, contact the strategists at Omega today.

Omega Benefit Strategies provides senior credit union members an educational resource for Medicare. Our turnkey marketing package seamlessly integrates with existing market strategies. We can help businesses increase new member acquisitions, bolster retention, cross-sell opportunities via our “scorecard” system, and even earn an ancillary revenue stream. Accommodating any size membership, we maintain exemplary member service and offer top-notch products. Contact us today by going to www.omegabenefitstrategies.com or call 888-404-5049.

Written by the digital marketing staff at Creative Programs & Systems: www.cpsmi.com.

CUNA Mutual Invests in Medicare Agency

Coverage Insurance Solutions announced they will be working with CUNA Mutual Group and examine opportunities to offer Medicare insurance options to credit union members. Founder and CEO of Coverance, Chris Mullins, said the company uses senior-focused marketing, data analytics, and automation designed to improve how seniors purchase Medicare insurance.

The COVID-19 pandemic showcases the importance of proper Medicare insurance for seniors. This has accelerated an upward trend toward centralized call centers, which were traditionally answered by insurance agents in person.

Mike Sekits, managing director of Strandview, said “We have sponsored this management team at two previous successful companies enjoying a very similar business model. The Coverance team has deep experience marketing complex financial services to seniors. They are employing a proven business model – including a highly-efficient call center, state-of-the-art technology, and a highly-effective marketing strategy – to build a leading brand in the Medicare insurance market.”

Strandview Capital’s website said strategic and opportunistic growth capital are provided to companies in the financial software and services sector. “We have established expertise and success investing in companies that are recession-resistant or even thrive in uncertain economic times. We typically lead structured, minority equity investments of $5 million to $15 million per company, and we are often the only institutional investors alongside management.”

CUNA Mutual Group is worth $25 billion in assets and offers commercial and consumer insurance, retirement and investment solutions, and business solutions including data and analytics, lending capabilities, and marketing services.

Omega Benefit Strategies provides senior credit union members an educational resource for Medicare. Our turnkey marketing package seamlessly integrates with existing market strategies. We can help businesses increase new member acquisitions, bolster retention, cross-sell opportunities via our “scorecard” system, and even earn an ancillary revenue stream. Accommodating any size membership, we maintain exemplary member service and offer top-notch products. Contact us today by going to www.omegabenefitstrategies.com or call 888-404-5049.

Written by the digital marketing staff at Creative Programs & Systems: www.cpsmi.com.

Five Essential Business-To-Business Marketing Strategies

Business-to-business (B2B) marketing strategies are generally accomplished using direct and outbound techniques, but there are other ways to reach clients. The goal is to have the audience respond and engage with your services based on your compelling and persuasive efforts. B2B has expanded, and the behavior of professional service buyers has shifted. In our technology age, buyers are now much more likely to do a quick Google search than check personal references.

  • Research: The foundation of modern marketing efforts, these detailed studies will help you make more informed decisions. You will discover an objective basis for your marketing and gain valuable baselines to measure results. Knowing your client’s better – results in better service. Moreover, you will gain insight into how your processes are performing. Studies show the impact of research improves client base by triple- to tenfold, and are almost two times more profitable than companies that don’t pursue research.
  • High-performance website: Today’s technology space has placed websites at the forefront of marketing experience, making it a crucial asset. Successful websites are hubs of a firm’s online presence; an information-rich projection of its expertise. Essential in building visibility, websites enable you to demonstrate your businesses’ knowledge and become well-known in the industry. Eighty percent of people browse a website when checking out service providers. Overall design is also crucial, as it can influence your audience’s perceptions, aid recall, and intuitively differentiate a business. Lastly, ensure your website has a responsive design, which allows it to adapt across a range of devices such as computer screens, smartphones, and tablets.
  • Advertising: Industry publications, websites, social media, Search Engine Optimization/Marketing, and retargeting strategies all play a significant role in increasing downloads, expertise, and visibility. Certain social media platforms have a higher rate of success in B2B arenas. It’s imperative to select the best advertising type based on budgets, ad purposes, targeting, and industry niches.
  • Marketing: Different types of marketing including referrals, automation, Customer Relationship Management (CRM), and e-mail campaigns are all critical to B2B success. Be sure to choose the proper marketing automation tool for your business by ensuring the size, complexity, and prospective scalability is an appropriate fit for your needs. CRM tracks and organizes client information along with potential opportunities. It serves as a database for information collected which can then be stored and assessed by employees across the company.  
  • Analytics: Results need to be weighed and measured to be effectively understood. Site traffic, SEO results, and detailed social media analytics all work together to help you fully comprehend what strategies are working and which ones need improvement.

To learn more about B2B strategies for credit unions and other associations, contact the experts at Omega benefit strategies today. We can provide you with the tools you need to connect with your senior members.

Omega Benefit Strategies provides senior members an educational resource for Medicare. Our turnkey marketing package seamlessly integrates with existing market strategies. We can help businesses increase new member acquisitions, bolster retention, cross-sell opportunities via our “scorecard” system, and even earn an ancillary revenue stream. Accommodating any size membership, we maintain exemplary member service and offer top-notch products. Contact us today by going to www.omegabenefitstrategies.com or call 888-404-5049.

Written by the digital marketing staff at Creative Programs & Systems: www.cpsmi.com.

Member Retention Strategies to Increase Profit and Enhance Image

Baby boomers remain the most influential generation when it comes to economic decision making. The U.S. Census Bureau defines Baby Boomers as those born between 1946 – 1964. There are 76 million nationwide, and their influence on healthcare, technology, travel, and e-commerce is expanding. Continually engaging your members and understanding their needs are two of the most important facets of maintaining retention.

Member retention is just as important as member acquisition. Data-mining strategies that go into gaining new members should also go into improving relationships with existing members. Credit unions can positively influence retention rates by using data analytics to build relationships with members. High member satisfaction levels lead to greater loyalty and referral business. However, all members are not created equal; some relationships are worth more than others. It is vital to identify the most loyal and profitable members who will most likely drive revenue at your credit union.

Training your staff to be in a partnership with your members is another way to create loyalty and gain retention. Asking the right questions, giving them the proper training, and constant engagement with your member base are all ways to create need and comfortability.

Ensure you have a defined and credible marketing strategy to reach the demographic you are targeting in order to maintain retention. An accurate database is essential to send the proper campaigns to each target market. Member services, product offerings, and interest rates are all factors, but it is imperative to remember that marketing efforts can strongly influence retention. Credit unions must be able to communicate with members in order to up-sell and market appropriately. New offers and special rates should be aptly communicated to members. 

These strategies increase retention rates and help eliminate the wasted costs of sending inaccurate information to people. Improved marketing campaigns and member analytics enhance the member experience and increase up-sell opportunities. This enables credit unions to streamline operations and reduce costs.

Do you know your member demographic? Your current member base is already a captive audience. Let the professionals at Omega Benefit Strategies help you integrate these strategies to gain more loyal customers and achieve strong referrals.

Omega Benefit Strategies provides senior credit union members an educational resource for Medicare. Our turnkey marketing package seamlessly integrates with existing market strategies. We can help businesses increase new member acquisitions, bolster retention, cross-sell opportunities via our “scorecard” system, and even earn an ancillary revenue stream. Accommodating any size membership, we maintain exemplary member service and offer top-notch products. Contact us today by going to www.omegabenefitstrategies.com or call 888-404-5049.

Written by the digital marketing staff at Creative Programs & Systems: www.cpsmi.com.

Benefits of Becoming a Resource for Clients

The key to unlocking a lifelong client can be found when you become an unwavering resource. Clients typically look for value; when you offer affordable expertise combined with quality products, they will be hard-pressed to seek services elsewhere. A strong, reliable business resource adds value to the client’s portfolio while continuing to provide top-tier products and services.

Some of the benefits of becoming a business resource or information hub for clients include:

  1. Authority: you become your client’s go-to for questions in the decision-making process. It is imperative to become a hub for your client when they have a decision to make. Financial planners, for example, consult hundreds of clients who share their entire monetary portfolios. Other life decisions are put into the hands of different business genres such as home, auto, and health insurance, mortgages, and attorneys for legal counsel. If you position yourself as a steadfast resource, you are further embedded as a business they trust.
  2. Retention: as a business hub, you are able to assist your clients with other stressors in their lives, which means they are far less likely to turn to your competition. They will value you for whatever primary product or service you are providing. Moreover, they will most likely value your insight and refer to you for other ideas. Your clients will appreciate a steadfast resource, making them more loyal to you.
  3. Referrals: the greater the number of loyal clients who trust your business, the higher your referral rate will skyrocket. Clients who are satisfied with your services and see your overall value will more-than-likely refer you to family, friends, and other businesses.

Becoming an authority, securing retention, and gaining referrals are all quite powerful benefits of acting as a valuable resource for your clients. Implementing these strategies will yield harmonious results.

Want to become a valuable resource for your Medicare clients? Contact the experts at Omega Business Strategies today to learn more about offering Medicare benefits to your company.

Omega Benefit Strategies provides senior credit union members and other groups an educational resource for Medicare. Our turnkey marketing package seamlessly integrates with existing market strategies. We can help businesses increase new member acquisitions, bolster retention, cross-sell opportunities via our “scorecard” system, and even earn an ancillary revenue stream. Accommodating any size membership, we maintain exemplary member service and offer top-notch products. Contact us today by going to www.omegabenefitstrategies.com or call 888-404-5049. Written by the digital marketing staff at Creative Programs & Systems: www.cpsmi.com.