In 2025, the number of baby boomers turning 65 reaches a highwater mark. Nearly 4.2 million Americans will turn 65 this year, an average of more than 11,000 per day – the highest number ever in one year. This surge represents a unique opportunity for those already in the Medicare business as well as for those considering a career as a Medicare agent.
An Ideal Time for New Agents
If you are considering a career as a Medicare agent, there isn’t a better time than now to take the leap. With the influx of baby boomers turning 65 (called T65), the Medicare market will experience tremendous growth this year and through 2030, when the youngest baby boomers reach 65. This is an ideal time to begin building the solid foundation you need for a rewarding career in Medicare sales, helping seniors navigate their healthcare options.
Medicare agents work on a commission basis selling Medicare Advantage plans, Medicare Part D Prescription plans, and Medicare Supplement plans. As you build your business, you will earn income from new clients as well as renewal income from existing clients. The average salary for an agent in 2025 is $78,517, but it is not uncommon for experienced agents to make well over six figures.
How do you know if you would make a good Medicare agent? You don’t necessarily need previous insurance experience to be successful. If the following description sounds familiar, you have the essential qualities needed to be a good Medicare agent:
- People skills – You feel fulfilled working with people. You are a good listener who exhibits patience, respect, and empathy. Clients want to deal with you because you are honest and trustworthy and have their best interests at heart.
- Good communication skills – You are able to communicate clearly and concisely with seniors to simplify Medicare and educate them on their healthcare options.
- Strong work ethic – You have good organizational and time management skills that allow you to manage the many components of a successful Medicare business. These include product training, marketing, licensing requirements, and compliance with Medicare’s rules and regulations.
- Technical knowledge – You are comfortable with technology and learning to use new online tools that will help you maintain efficiency and accuracy, such as a customer relationship management (CRM) tools, electronic applications, and online enrollment platforms.
A career as a Medicare agent is gratifying both professionally and personally. If you have always wanted to have control over your life and be your own boss, this is the opportunity you have been looking for.
A Lucrative Market for Current Medicare Agents
The T65 market has always been important, but this year, this group is playing an even more important role due to the sheer number of baby boomers turning 65. Baby boomers are a diverse group with differing healthcare needs, lifestyles, and budgets. One thing they have in common is they tend to find Medicare confusing. Many are looking for someone with expertise to educate them on their options and help them make an informed decision. You need to be proactive in reaching this group before they make their coverage decisions.
Consider:
- A targeted and compliant marketing campaign – This group of baby boomers is more technically savvy than previous T65 cohorts. You’ll need a multipronged approach to reach them, including social media and direct mail. Plan to be active in the community, hosting educational events where you can meet with large numbers of T65 prospects at once.
- A broad, solution-focused portfolio – It’s important to be able to offer the products that will fill the varied needs of this group. A well-rounded portfolio will consist of Medicare Advantage HMO, PPO, and SNPs, Med Supp plans, and PDPs. Ancillary products (such as dental, vision, hearing, and hospital indemnity plans) will help you create a one-stop shop for your clients’ needs.
Take advantage of this unique time to increase your client base and build residual income for years to come.
Agency Support Is Vital
This is a key time for agencies. You need to ensure your agents are ready to capitalize on this opportunity by providing guidance and comprehensive support that includes:
- Training and educational opportunities
- Marketing and advertising resources
- Access to the right insurance carriers and products
- Assistance with lead generation
- Access to technology and tools
Help your agents stay motivated and empower them to maximize their success.
Western Asset Protection Can Help
Whether you are considering a new career in Medicare, you’re an experienced agent, or you’re an established agency, the dedicated team at Western Asset Protection is here to support you at every stage of your journey. Contact us today.