Prospecting: A Discipline Done Daily

Many ask “When’s the best time to prospect?” They want an answer that includes a day of the week, the time of day, or both. The right answer is “Six months ago.” Yep, the best time to prospect has passed. But the second-best time is always right now. There’s an enormous difference between 8 hours of prospecting in a single day every three months and 90 minutes of focused prospecting daily. Because agents and marketers do only two things – create opportunities and capture opportunities – it’s not unreasonable to expect that prospecting must be a daily discipline. There’s no way to cram prospecting. Spending an 8-hour day making calls is not the same as making an hour of calls every day. It’s a mistake to believe you can do all the prospecting you need in a day. Pick up the phone. You can do this.

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Retiree’s Health Care Spending

The Employee Benefit Research Institute examined the spending patterns of those in preretirement (50-64), early retirement (65-74) and late retirement (75+). It found spending tends to decrease over time, and the proportion across spending categories also changes. In general, retiree spending declines during retirement. While housing remains the largest spending category for every age group, older households allocated a smaller share of their budgets to transportation and entertainment and a larger share of their budgets to health care costs. However, the average annual share of health costs for the 65–74 and 75-or-older age groups declined after 2007, the year after Medicare Part D went into effect.

Oldest Americans’ Health Care Costs Declined

 

 

 

 

 

 

 

 

 

 

The breakdown of the out-of-pocket health care costs for those 75+ indicates most of the drop in total health costs for this age group is attributed to health insurance and drugs; other components remained largely unchanged.

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HealthCare.gov Enrollment Analysis

Sign-ups during the first two weeks of open enrollment for 2020 Affordable Care Act exchange coverage are trailing last year’s numbers. According to the CMS, about 932,000 people selected a health plan in the first two weeks of open enrollment, which kicked off on Nov. 1. That’s about 244,000 fewer people than in the first two weeks of last year. Some experts say technical difficulties on HealthCare.gov during the first day of open enrollment may have contributed to the lower signup tally. So far, most of the people who selected a plan are renewing their coverage. A little more than a quarter are new customers who did not have a HealthCare.gov plan last year. Open enrollment ends Dec. 15 in HealthCare.gov states. The average premiums for the most popular exchange plan are about 4% lower in 2020 than in 2019, though they’re still very expensive for people who don’t qualify for a federal subsidy.

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ACA Enrollment Snapshot: Week 2

In week two (Nov. 3-9) of the 2020 Open Enrollment, 754,967 people selected plans using HealthCare.gov. Enrollment weeks are measured Sunday through Saturday. Consequently, the cumulative totals reported in this snapshot reflect one fewer day than last year. The weekly snapshot reports only new plan selections and active plan renewals; it does not report the number of consumers who paid premiums to effectuate their enrollment. ARTICLE

 

 

 

 

 

 

 

 

 

 

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Your Excuses Are Disempowering You

We love our excuses. They provide us all the reasons we need not to be or not to do something. Your disempowering stories about your life prove that no one should expect you to be able to do something based on past events and the all-too-handy labels society provides for you, should you accept them. We keep the story alive because it absolves us of responsibility to be something more or do something more, something bigger, something more significant. How long will you define yourself by what you can’t do because something happened in the past, or you allowed someone to provide you with an identity based on something they believe – and something you could easily reject?

COLUMN

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Out-of-Pocket Hits Sick Beneficiaries Hard

More than half of seriously ill Medicare beneficiaries face financial hardships with medical bills, with prescription drug costs the leading problem, according to a study published Monday. All told, 53% of seriously ill Medicare patients said they had major trouble paying their medical bills. More than a third reported using all or most of their savings to pay medical bills; 27% said they were contacted by a collection agency; and 23% were unable to pay for basics such as food, heat and housing.

“Out-of-pocket costs are very concentrated,” said Anne Kyle, lead author of the study. “The sickest population is also getting the biggest bills. Especially if you are sick over time, you are slowly draining your bank account.”

ARTICLE and INFOGRAPHIC

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