The Open Enrollment Period (OEP) can be stressful for both agents and clients. With policy changes, new plan options and shifting regulations, your level of preparedness will make or break you during this crucial time of the year.
While some of your clients may be quick and easy to deal with, others will have a plethora of questions lined up. Providing straightforward, well-thought out answers to these questions, will separate you from the competition.
But how do you prepare answers, when you don’t know what the questions are going to be? While there will be some circumstantial, client-specific inquiries brought to you that you’ll need to answer on the fly, for the most part, clients will be asking the same questions. To help you further get ready for this pivotal time, we’ll explore some of the most commonly asked client questions during the OEP and provide some effective ways to respond.
Understanding OEP Questions
Why Clients Have Questions During the OEP
For many people, the OEP is a time of uncertainty. Let’s face facts—the majority of individuals don’t know what plans are available, how those plans may have changed and how to choose the one that best suits their needs.
Over the past year many clients may have also experienced major life changes. This includes things like changing jobs, having a baby, or taking on new medical issues, all of which could influence their insurance decisions.
Clients may also experience feelings of anxiety as the OEP clock ticks away. With all of these factors on the table, clients look to their agent for clarity and expertise, so they can make the most informed decision.
The Role of Insurance Agents During the OEP
The OEP is your chance to shine as an insurance agent. By providing precise and up-to-date information about plan options, coverage changes, and regulations, you’ll easily stand out from the crowd. Quickly answering client questions demonstrates your experience and dependability, which strengthens client relationships and confidence.
Being responsive by addressing specific client concerns also increases your chances of closing sales, obtaining referrals and getting positive reviews. For insurance agents, communication is always key, but there’s no more important time to hone in on your skills than right now. So let’s get started by exploring 6 of the most commonly asked client questions during the OEP.
The Top 6 Questions Clients Ask During the OEP
#1 What Are My Coverage Options?
Effective Response: This question is pretty straightforward, but the response could be lengthy since many consumers don’t have a good grasp on health insurance plan types. Start by breaking down the variety of available plan options.
This includes HMOs, PPOs, EPOs, HDHPs and POS plans. Take ample time to go over how each one works, and the level of flexibility each one offers in terms of healthcare providers. Additionally, go over the pros and cons of each plan relating to cost. When doing so, emphasize the importance of selecting a plan that both fulfills their needs and aligns with their budget.
For example, if there’s a client who wants low monthly premiums, and doesn’t need an extensive network of providers, an HMO could be a great fit. On the other hand, maybe an older client wants the freedom to see a variety of specialists with no referrals. In this case, a PPO would be a good option. No matter the specific circumstance, be sure to back up your suggestions with facts about specific plan benefits.
Why This Response Works: By first offering an overview of the various plan types, followed by examples relating to their needs, clients will feel empowered to make a confident decision based on their own situation.
#2 How Much Will My Premiums Cost?
Effective Response: Since it’s difficult to provide an exact answer to this question right away, you’ll want to discuss the influencing factors. Go over things like age, family size, geographic location and plan type, explaining how each one can raise or lower rates. For example, for a client who just had a baby, help them understand why the additional dependent could make premium costs increase.
If clients feel overwhelmed by the estimated monthly cost, recommend options like HDHPs which will lower their premiums, but cost more out-of-pocket. Additionally, go over any available tax credits or subsidies that could help to lower premiums.
During the discussion, it’s important not to get ahead of yourself. If a client seems confused, step back for a moment and thoroughly break down how premiums, deductibles and out-of-pocket maximums all work in tandem. This gives clients a better understanding of the trade-offs between cost and coverage.
Why This Response Works: Being transparent about pricing makes clients feel more at ease since they can understand how their selected plans aligns with their budget. Additionally, by exploring savings options, you effectively reduce the clients financial stress.
#3 Can I Keep My Current Doctor?
Effective Response: Assist clients in determining whether their favorite doctors or healthcare providers are covered by a certain plan’s network. Walk them through the process of verifying provider networks, emphasizing how staying in-network saves money. If their doctor is out-of-network, provide alternatives or help them assess the benefits of paying more to continue seeing their preferred provider.
Why This Response Works: For many clients keeping their same doctors is of utmost importance. In turn, providing clear advice on network coverage minimizes uncertainty and supports them in making an informed selection.
#4 What Happens If I Miss the OEP Deadline?
Effective Response: Explain the significance of enrolling during the OEP, emphasizing that it’s not ideal to miss the deadline. Do this by going over the negative effects including penalties, gaps in coverage and delays in receiving benefits.
With that said, it’s also important to reassure them that even if they miss the deadline, there will still be some options available. Go on to inform them about Special Enrollment Periods, and how they allow clients with qualifying life events to enroll in a plan outside of the OEP. Be sure to give them a list of specific qualifying events like marriage, childbirth, and the loss of previous coverage.
Why This Response Works: Responding in this way highlights the importance of enrolling during the OEP, but also gives them the options at hand if they have extenuating circumstances.
#5 How Do I Know If My Prescription Drugs Are Covered?
Effective Response: Show clients how to check a plan’s formulary, which lists covered prescriptions. Explain the necessity of choosing a plan that appropriately covers their medications, especially for those who require prescriptions drugs regularly. Lastly, discuss cost-saving strategies with clients whose drugs may not be fully covered. This includes generic alternatives and assistance programs.
Why This Response Works: For many Americans, prescription drug coverage and cost is a major concern. By offering information on particular drug coverage, as well as cost-saving advice, they’ll be more confident in their ultimate plan selection.
#6 How Do I Enroll or Re-Enroll?
Effective Response: Whether they are a new or existing client, walk them through each step of the enrollment or re-enrollment process. Go on to show them how to evaluate their current plan versus new coverage options and how to submit their application or any modifications.
If you offer online enrollment, or enrollment through a mobile application, make sure that they understand the ins and outs of the platform. Lastly, inform them about any necessary follow-up actions to take, as well as specifics regarding the plan start date.
Why This Response Works: Simplifying the enrollment process relieves the anxiety that clients have about not completing it on time. By taking the process one step at a time, and getting ahead of questions relating to the enrollment platform, they’ll feel supported and ready to get started.
Final Thoughts on Mastering OEP Client Questions
Being prepared with meaningful responses to the most often asked questions, helps you build trust and strengthen relationships with your clients. Each of the six frequently asked questions stand as opportunities to demonstrate your knowledge and commitment to meeting their specific requirements.
Ultimately, the OEP is the perfect time to not only demonstrate your expertise of the insurance market, but also to show that you’re the person clients can count on during this often stressful time. The more prepared you are, the better your chances of closing sales, retaining clients and earning referrals you’ll have.
For more tools, resources and guidance on successfully navigating this year’s OEP, visit Benepath.net. We have a resource library with tons of helpful articles aimed at helping agents like you satisfy clients, make more sales and effectively scale your business. To learn more simply fill out a form or give us a call at 888-684-3121.
