{"id":5901,"date":"2023-01-30T10:54:46","date_gmt":"2023-01-30T15:54:46","guid":{"rendered":"https:\/\/yourcarerep.com\/YCR-BU\/?p=5901"},"modified":"2023-09-11T15:30:04","modified_gmt":"2023-09-11T19:30:04","slug":"a-recession-is-here-and-some-say-a-possible-depression-why-you-may-consider-becoming-an-insurance-broker-with-medicare","status":"publish","type":"post","link":"https:\/\/yourcarerep.com\/YCR-BU\/a-recession-is-here-and-some-say-a-possible-depression-why-you-may-consider-becoming-an-insurance-broker-with-medicare\/","title":{"rendered":"A Recession is Here and Some Say A Possible Depression: Why You May Consider Becoming an Insurance Broker with Medicare"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"5901\" class=\"elementor elementor-5901\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a2aafee elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a2aafee\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-302934b\" data-id=\"302934b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3eac4d5 elementor-widget elementor-widget-text-editor\" data-id=\"3eac4d5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>A Recession is Here and Some Say A Possible Depression: Why You May Consider Becoming an Insurance Broker with Medicare<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-756bf69 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"756bf69\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8e08781\" data-id=\"8e08781\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3f840b3 elementor-widget elementor-widget-image\" data-id=\"3f840b3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/yourcarerep.com\/YCR-BU\/wp-content\/uploads\/elementor\/thumbs\/2023-recession-q1adoa5zpp2lo5mky44yzemxdi6zp9bh8d6kskfr4w.jpg\" title=\"2023 recession\" alt=\"2023 recession\" loading=\"lazy\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f0f8fd3 elementor-widget elementor-widget-text-editor\" data-id=\"f0f8fd3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Economic signs are worse than anticipated. While some argue the recession is coming, signs show it has already arrived. Meanwhile, FOX Business sees warning signs reminiscent of depression in an article titled, <a href=\"https:\/\/www.foxbusiness.com\/markets\/gdp-report-reveals-ominous-great-depression-warning-sign-1932\" target=\"_blank\" rel=\"noopener\"><em>GDP report reveals ominous Great Depression warning sign not seen since 1932<\/em><\/a><em>.<\/em> Is a depression coming?<\/p><p>Whether a depression or recession, one thing is clear, insurance agents in the Medicare space are positioned to grow while other industries fall. Are you an agent? If not, you may want to consider becoming one \u2013 quickly.<\/p><h2>Industries that Grow During Recessionary Times<\/h2><p>There are certain industries that fair better than others during hard economic times. Why? They industries that provide services and products that one cannot live without. According to <a href=\"https:\/\/www.investopedia.com\/articles\/stocks\/08\/industries-thrive-on-recession.asp#toc-health-care\" target=\"_blank\" rel=\"noopener\">Investopedia<\/a>, some of these include:<\/p><ul><li>Communication services<\/li><li>Information technology services<\/li><li>Utilities like electricity and water<\/li><li>Healthcare<\/li><\/ul><p>The last one, by association, includes health insurance \u2013 especially in the Medicare space. You see, when uncertainty hits, people look for certainty. They want to know they are covered should something happen. And since Medicare is something they must have, it\u2019s automatically deducted from their benefits checks, and they pay nothing extra for 99% of Medicare Advantage plans, they want to find the most generous ones.<\/p><p>With many plans offering NO premiums or deductibles, and some even giving back the Part-B premium of $164.90 or a portion of it (depending on where one resides in the United States), it is an easy way to lower cost and still be covered.<\/p><p>Moreover, if an individual qualifies for a Medicare Savings Program (run by state Medicaid departments), they can receive anywhere from $100 to $400 a month for food, help with rent and\/or utilities as a part of the plan benefits. A HUGE help during these times!<\/p><h2>What Are The Experts Saying?<\/h2><p><u>U.S. <\/u><u>Bureau of Labor Statistics<\/u><strong>: <\/strong>According to the <a href=\"https:\/\/www.bls.gov\/opub\/ted\/2001\/nov\/wk4\/art05.htm\" target=\"_blank\" rel=\"noopener\">U.S. Bureau of Labor Statistics<\/a>, in an article from 2001 titled, <a href=\"https:\/\/www.bls.gov\/opub\/ted\/2001\/nov\/wk4\/art05.htm\" target=\"_blank\" rel=\"noopener\"><em>TED: The Economics Daily \u2013 Some service industries grow faster in recession<\/em><\/a>, they stated:<\/p><p>Demand for health care is relatively unaffected by recessions, because to the consumer, healthcare can be a necessity rather than an optional commodity whose purchase can be postponed. <strong>Furthermore, Medicare, Medicaid, and private insurance provide funding dedicated solely to healthcare, so that much of the funding is not subject to competition<\/strong> with other types of purchases, and benefits remain available to persons during periods of unemployment.<\/p><p>In other words, healthcare (and by default, Medicare, grow rather than shrink during slow economic periods. Hence those employed in those industries not only have security, but the opportunity to advance.<\/p><p><u>Healthcare Dive<\/u>: In an article titled, <a href=\"https:\/\/www.healthcaredive.com\/news\/profits-climb-for-payers-recession\/636039\/\" target=\"_blank\" rel=\"noopener\"><em>Profits continue to climb for payers as possible recession looms<\/em><\/a>, also stated that\u2026 \u201cDespite talk of a recession, all major <strong>insurers expect a rosier end to 2022<\/strong> than previously predicted.\u201d<\/p><p><a href=\"https:\/\/beinsure.com\/news\/outlook-us-health-insurance-industry-2023\/\" target=\"_blank\" rel=\"noopener\">Beinsure<\/a> titled an article that supports this rosier growth to continue, <a href=\"https:\/\/beinsure.com\/news\/outlook-us-health-insurance-industry-2023\/\" target=\"_blank\" rel=\"noopener\"><em>Stable Outlook on the U.S. Health Insurance Industry for 2023<\/em><\/a>.<\/p><p><a href=\"https:\/\/www.forbes.com\/sites\/qai\/2022\/09\/09\/3-industries-that-are-poised-to-do-well-in-a-recession\/?sh=377fb7593307\" target=\"_blank\" rel=\"noopener\">Forbes<\/a>, in an article titled, <a href=\"https:\/\/www.forbes.com\/sites\/qai\/2022\/09\/09\/3-industries-that-are-poised-to-do-well-in-a-recession\/?sh=377fb7593307\" target=\"_blank\" rel=\"noopener\"><em>3 Industries That Are Poised To Do Well In A Recession<\/em><\/a> says about healthcare, \u201cOne of the things that most people are unable to cut back spending on is healthcare. No matter your income, there is still a value on your health that is not easily reduced by a decline in income.\u201d<\/p><p>As I was writing this article, I found four more articles restating the same things and validating that healthcare and health insurance are one of the best, most stable and growing industries\u2026especially during a recession or hard economic times.<\/p><p>And as stated previously, when a person knows they need it, have no choice but to take it and you don\u2019t have to ask them for any money to do so, and 10,000 people are turning 65 each day between now and 2030, you can see why there is security and opportunity.<\/p><p>So, if you are looking for a change and would like a recession proof, lucrative opportunity that will reward you handsomely for helping others, then look into becoming an insurance broker who specializes in Medicare Advantage. You will feel the purpose of what you do and the reward for changing people\u2019s lives. \u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6e3f75b9 elementor-section-full_width elementor-section-stretched elementor-section-height-default elementor-section-height-default\" data-id=\"6e3f75b9\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;,&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-4721382b\" data-id=\"4721382b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-73400e76 elementor-widget elementor-widget-text-editor\" data-id=\"73400e76\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Subscribe to our newsletter and get the <span style=\"color: #dbae1d;\"><strong>FREE<\/strong> <\/span>Medical Information document for streamlined emergencies or hospitalization.<span style=\"color: #dbae1d;\"><strong> A MUST HAVE FOR CAREGIVERS! <\/strong><\/span>Don&#8217;t let changes take you by surprise! 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