Welcome back to the Medicare Sales Playbook! I'm your host, Dallas Keithley, joined by our good friend and co-host, Medicare Matt Smith. Today, we’re rolling up our sleeves and diving deep into the topic of hospital indemnity plans.

Hospital indemnity plans can significantly boost your bottom line, potentially adding $50,000-$60,000 in the first year alone! But more importantly, they help your clients cover those unexpected hospital costs, providing peace of mind and better coverage.

We discuss the essentials of these plans, how many carriers to consider, and the top companies like GTL, Medico, and Heartland National. Hospital indemnity plans cover hospital stays, ambulance rides, emergency room visits, and more. They’re an excellent addition for clients who love their Medicare Advantage plans but are worried about hospital co-pays and other costs.

We also touch on the importance of adding a cancer rider to these plans. This additional coverage can be life-changing, helping clients manage significant medical expenses without depleting their savings.

Key Points:

1. Boost Your Income: Hospital indemnity plans can add substantial commissions and residual income.

2. Client Retention: Offering additional coverage makes clients more likely to stay with you.

3. Better Coverage: Hospital indemnity plans provide extra protection, easing your clients’ worries about large medical bills.

4. Cancer Rider: This optional add-on can cover costs associated with cancer treatments, offering significant financial relief.

5. Remember, it’s crucial to plant the seed early and avoid springing the plan on clients at the end of your conversation. Use dollars already being spent to repurpose their budget effectively. Always be available for your clients, ensuring they know how to use their coverage when needed.

Thank you for watching the Medicare Sales Playbook! Don't forget to like, subscribe, and comment on what you’d like to see in future episodes. We're here to help you succeed in your Medicare sales journey. Reach out if you have any questions about hospital indemnity plans or need assistance. See you next week!