This Is How to Become a Medicare Insurance Agent

If you're trying to figure out how to become a Medicare insurance agent, we got you covered. This guide explains the key things to do.

Medicare agents are in demand and the field is expected to grow in the coming years.

If you’re looking for a career that offers unlimited growth potential, flexibility, the freedom to work on your own schedule, and lots to learn you should consider becoming a Medicare insurance agent. Fortunately, getting started is easy and you’ll be on your way to making money in no time.

Keep reading to learn all about how to become a Medicare insurance agent and start selling insurance as soon as possible. 

Get Licensed

The first step for how to become a Medicare insurance agent is to get your state license, called your resident state health insurance producer license. This step is a requirement for selling Medicare.

In the process of getting your license, you’ll receive valuable training that will help you understand the job and be the best insurance agent you can be. You can study on your own or take courses. 

Get Your AHIP Certification

The next step you need to take to start selling insurance is taking and passing an annual Medicare training and certification test. This is done through America’s Health Insurance Plans (AHIP) and is required by the Center for Medicare and Medicaid Services (CMS).

This agency regulates the sale of Medicare plans and those who sell them. AHIP certification usually starts in the summer and certifies agents to sell Medicare for the following year. 

Choose an FMO

An FMO is a Field Marketing Organization or wholesaler. This is a company that sells insurance plans on behalf of multiple different insurance companies. You want to sign a contract with an FMO because you gain the ability to sell plans offered by multiple carriers.

Once you are contracted with an FMO, you can sell Medicare Advantage plans, Medicare supplement plans, final expense insurance, and prescription drug plans. Your FMO will provide marketing support to help you get started in the business.

Before signing your contract, you will negotiate your commission and Medicare agent salary

Get E&O Insurance

Medicare insurance agents should carry errors and omissions (E&O) insurance. This type of insurance will protect you in case you accidentally provide a client with incorrect or misleading information and they take legal action against you.

You may be able to get this insurance through your FMO. If not, you can purchase it through most insurance agencies and associations.

Most insurance companies will require you to carry this coverage. You’ll also have peace of mind as you learn and grow in the profession. 

Now You Know How to Become a Medicare Insurance Agent

Now that you know how to become a Medicare insurance agent, you are on your way to a lucrative and rewarding career. Selling Medicare is a great career option that offers independence and flexibility.

For more tips on managing your career and finances, check out the rest of our blog. 

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