Low-Income Housing for Seniors
By the year 2030, the number of people age 65 and older is expected to reach 71.5 million. A large percentage of these seniors will need low-income housing once they retire.
The average cost of a private room in a nursing home is more than $90,000 annually, and a semi-private room typically runs over $81,000 per year. With these staggering numbers, it's necessary for seniors to look for alternative living arrangements within their budget.
The U.S. Department of Housing and Urban Development creates affordable housing across the United States by funding programs for rent assistance, home ownership, and assistive services for seniors and people living with disabilities. Through this program, the organization helps over 900,000 seniors find public housing, multifamily subsidized housing, and housing vouchers.
Find D-SNP Clients at Low-Income Housing Complexes
Low-income housing complexes are excellent locations for you to find prospective clients. Seniors who are eligible for both Medicare and Medicaid are known as dual eligibles. Selling to D-SNP plans to dual eligibles allows you to build your book of business year-round, not just during AEP. It also offers you the chance to upsell final expense products.
This largely untapped market makes up 21% of the total Medicare population nationwide. That being said, only 57% of dual eligibles are age 65 and older, opening up a population of younger people with disabilities that you can sell to as well.
Here are a few ways that you can reach seniors and individuals with disabilities at low-income housing complexes and sell D-SNP plans:
- 1Host an educational event where you display a banner, provide promotional materials, and business cards if requested
- 2Host a health fair and serve refreshments, hand out pre-enrollment materials, and answer questions
- 3Give a formal presentation and provide plan information
- 4Set up a table for an informal event where you can hand out marketing materials, schedule appointments to speak to prospects in more detail, and even enroll clients
When planning for an event, be sure to check with the carrier that you're representing to ensure that your presentation is compliant. CMS has specific rules for different types of events and presentations, so it's best to know ahead of time what you are allowed to do and what is prohibited.
How to Find Low-Income Housing
A great resource to find affordable housing is lowincomehousing.us. Using this tool is a great way to find housing complexes where you can meet prospective D-SNP clients. This website lets you search affordable rentals and housing options for low-income families and individuals. Here you can search Section 8 housing, income-based housing, low-income rentals, housing authorities, subsidized housing, and low-income apartments.
It's easy to find housing using this straightforward tool. Simply click on your state in the nationwide housing search map at the top of the home page and find your city.
Next, you can click on the active listings that are in the city or town you selected. This list shows you a variety of options for you to host events. View details by clicking on the images or names of housing developments.
After selecting a housing development, you can read a description, look at pictures, read reviews, and learn how your clients can apply.
Easily Help Your Clients
As housing becomes increasingly expensive, millions of Americans on retirement incomes and disability are unable to afford a place to live. Low-income housing offers people the opportunity to provide a comfortable living environment for their families.
Take advantage of this simple tool to find low-income housing complexes where you can host events in order to meet prospective D-SNP clients. You’ll be surprised to find that some of the people you meet were not previously aware of the options that they have to financially protect themselves and their families in the event of an illness. Meeting prospects in their own neighborhood will allow you to gain their trust and give you the opportunity to ask for referrals.
Lowincomehousing.us will also allow you to help your current clients secure housing and in turn decrease the stress of financial hardship. For those with small pensions and/or living off of social security, the ability to find safe, secure, and affordable housing can make the difference between happiness and just getting by.
Would you like to learn more about how you can help your clients? Check out our blog post and video on the importance of hospital indemnity plans. As always, if you have any questions, feel free to give us a call at 888-622-9122. Our expert agent support team is always ready to help!