While 2020 was a year that many of us are happy to see getting smaller by the day in Father Time’s rearview mirror, there are some things we can look back on and study to get a better understanding of what might be to come. The Kaiser Family Foundation put together a great piece titled A Dozen Facts About Medicare Advantage in 2020. It looks at Medicare Advantage from many angles and may provide you with insights that will help your business.
A Snapshot of What Kaiser Family Foundation Uncovered:
- Nearly 40% of Medicare beneficiaries are on Medicare Advantage plans. That’s over 60 million people, more than double what it was just ten years ago.
- MA penetration varies widely from less than 1% in some counties to over 70% in others. If you’ve ever wondered why the Miami-Dade market is so competitive, there’s your answer!
- Premiums paid by MAPD members are at historic lows. Only regional PPO plan premiums have increased as more carriers push membership to lower cost local PPOs.
- Nearly 80% of MA enrollees are in plans with a Star Rating of 4 or higher. Does this teach us anything about which plans we are marketing?
If you have 20 minutes to spare, give this article a read. See what you can pull from it that may help you on the path to becoming a better Medicare sales specialist. This year, let knowledge breed confidence. And let that confidence breed commissions!
Accelerate Your Medicare Business This Year
Need help giving leverage to your Medicare business this year? If you’re already aligned with Plan Advisors, simply think “Plan Advisors first!” when you need support for anything from marketing and sales to serving existing clients. Not aligned with Plan Advisors? Explore the benefits of partnering with Plan Advisors, then let’s talk about accelerating your Medicare business.
