As Medicare Advantage continues to grow, payers, experts, and states are looking for ways to boost dual eligibility enrollment.
Enrollment of dual eligible individuals in Medicare Advantage has been “lagging” even with MA numbers projected to hit 70 percent between 2030 and 2040, according to a recent analysis by LEK Consulting.
“Medicare Advantage penetration of dual eligibles, which represents roughly 20 percent of Medicare eligibles, has lagged behind Medicare Advantage penetration of seniors due to a lack of coordinated state offerings and managed care,” the authors of the report state.
Medicare Advantage is an overlooked resource for many dual eligible individuals, who qualify to enroll in Medicare and Medicaid because of their income. LEK Consulting’s estimate of a 70 percent increase in Medicare Advantage enrollment between 2030 and 2040 is backed by the rate at which MA is penetrating urban and rural counties, several of which have reached 55 to 65 percent enrollment. In 14 of the top 20 counties, the rates keep rising.
The dual eligibility population could prove critical to Medicare Advantage’s growth.
Medicare Advantage presents dual eligible individuals with an option that is affordable and has the ability to “detect, treat, and prevent the progression of chronic disease,” according to a report by America's Health Insurance Plans.
Similar to AHIP’s report, the LEK analysis found that Medicare Advantage enrollees are drawn to MA largely because of affordability and the level of care they receive through the plans.
For many over 65 years, the 20 percent coinsurance is too high, especially as Medicare costs are projected to rise by 7.4 percentage points annually through 2027, the CMS stated.
Additionally, Medicare Advantage provides a superior level of care management over original Medicare as the probability of developing age-related conditions increases. The conditions include obesity, diabetes, and other chronic conditions.
Between 2009 and 2010, 45 percent of adults 65 years and older have two or more chronic conditions the Center for Disease Control (CDC) revealed in a study of nine chronic conditions. The LEK analysis adds that the number of adults with more than one chronic condition rose by 8 percentage points during that study.
Dual eligibility beneficiaries are affected by those statistics. In March, the CMS released a report on the dual eligible population, which concluded:
Though dual eligible may be lagging, “states are moving aggressively to manage the cost of this high-needs population,” LEK Consulting states in their analysis.
In particular, the report cites the escalation of Dual Eligible Special Needs Plans (D-SNPs). D-SNPs have increased by 10 percent per year.
However, misalignment between D-SNPs and Medicare and Medicaid timelines and processes can put unnecessary strain on beneficiaries.
The Department of Health and Human Services (HHS) recently posted a paper from 2017 by the Center for Health Care Strategies which offered potential solutions in six areas related to D-SNPs: network standards and reviews, care management, marketing, beneficiary and provider notices, data collection and quality measurement, and grievances and appeals.
They conclude with 23 policy options, such as HHS-state collaborations for non-emergency medical transportation, integration of MA and state care management requirements for D-SNPs, coordination between states and D-SNPs on outreach, integration of beneficiary and provider D-SNP materials, DSNPs receiving beneficiaries' Medicaid or Medicare service utilization history, and MA denials that disclose whether a beneficiary denied by an MA plan might still acquire coverage under Medicaid.
Payers are responding to the growing demand for Medicare Advantage. Established payers such as Anthem are acquiring companies with MA plans while their emerging counterparts—Bright Health, Devoted Health, and Clover Health—are expanding their MA plans or are starting to offer them.
Medicare Blog | Medicare News | Medicare Information
In May, Ameritas conducted a webinar and heard from several attendees that they would like to know how they can share information about Ameritas on social media. Social media is a great way to communicate with your customers and we want to support your need for content that shares our plans and service with others.
We’ve crafted a couple social media posts to share with you here, each with its own infographic, plus three stand-alone infographics. To share, simply copy and paste the posts onto your platform of choice, and download the infographics to share them as an image.
Social media posts
Who is getting ready to sign up for Medicare? Did you know that dental is not covered under Medicare? Check out What’s Not Covered on page 49 of Medicare & You book to learn more. Ameritas has you covered when it comes to Dental.
Additionally, we’ve provided some tips and tricks for writing your own social media content below.
Sharing information via social media really comes down to making a positive first impression and positioning yourself as a resource to your followers. Here are our top 4 tips for crafting great social media content:
Get contracted with Ameritas to sell dental plans. Request details here
Medicare changes coming effect January 1, 2020 from the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) offers you the opportunity to provide your clients with a new Medicare supplement plan option. That new option is a High Deductible Plan G and this plan will be available to any individual purchasing a Medicare supplement with an effective date of January 1, 2020 or later.
Effective July 1, 2019, Mutual of Omaha is pleased to announce the availability of a High Deductible Plan G for effective dates of January 1, 2020 or later in the following states:
Be assured we have filed the High Deductible Plan G in the other states and upon approval we will make it available to you for sale.
High Deductible Plan G*
*Deductibles are subject to change January 1st each year.
For additional information of the 2020 MACRA changes and help in discussing these changes with your clients – click here for An Agent’s Guide to MACRA.
Get contracted with Mutual of Omaha with PSM. Request details here
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According to the study, roughly, 85 million Americans use social media to learn more about financial advisors. Six in 10 of these consumers say they use social media sites to find information on financial services products and services or were looking for reviews on financial professionals. When asked to rate the sites, consumers rated Facebook as the most important social media platform, with LinkedIn and Yelp closely behind.
Consumers also feel it is important for advisors not just to have a presence but to be active on social media. Consumers said they found information about how to save money, and comments from other people most valuable (chart):
Check out our Social Media Guife for Insurance Agents here.
Tags: Social Media Marketing
For now, the regulatory and political environment remains positive for expansion of Medicare Advantage, which allows private health plans to contract with the federal government to provide medical benefits to seniors. Medicare Advantage plans provide extra benefits and services to seniors, such as disease management and nurse help hotlines, as well as some plans providing vision and dental care.
“Today the status and long-term structure of healthcare reform remain in flux, but MA enrollment is still growing — and with largely bipartisan support,” the report released this week by L.E.K. Consulting on Medicare Advantage penetration shows.
Enrollment in MA plans surpassed 22 million last year, which is 35% of total Medicare beneficiaries. “Looking ahead, we expect enrollment growth to continue in line with our previous forecasts of 7.7% compound annual growth rate (CAGR) to reach 47% penetration, or just over 37 million members in 2025,” L.E.K. executives Andrew Kadar, Andrew Garibaldi and Daniel Parker wrote in their 7-page report.
Health insurers Humana, UnitedHealth Group, Anthem, Cigna and CVS Health’s Aetna health insurance business dominate the Medicare Advantage business while Centene is poised to expand with its proposed acquisition of WellCare Health Plans. Meanwhile, several startups like Bright Health and Oscar Health are looking to expand into Medicare Advantage.
Health insurers see growth thanks in part to changes by the Trump administration in regulations that allow Medicare Advantage plans to cover more supplemental benefits. MA plans are also benefitting from more than 10,000 baby boomers turning 65 every day and becoming eligible for Medicare.
“As seniors increasingly eschew Original Medicare in favor of lower payments, enhanced care management and more cost certainty, with encouragement from both health plans and, albeit indirectly, the government, we expect that growth to continue — to 47% penetration by 2025 and, eventually, up to as high as 70%,” L.E.K said in its report. “Payers will therefore need to take aggressive action to grow market share of their Medicare Advantage offering. That could include expanding into new counties, investing in targeted sales to age-ins, and designing new products to attract new members and keep them healthy.”
Tags: Medicare Advantage
As a reminder, Great Southern Life is an Americo Company that offers the same outstanding benefits that you are familiar with on Americo Financial Life Medicare Supplement.
Some of the benefits of writing Great Southern Life:
Some of our main benefits may include:
Optional benefits* are available at an additional cost and may include:
Learn more about Medico's Hospital Indemnity Insurance:
Not appointed with Atlantic Coast Life Medicare Supplement plans? Request details.
✪ 2020 AHIP Training
Precision Senior Marketing is proud to be able to help support our agents that sell Medicare Advantage and Prescription Drug Plans. That's why our agents will be able to access AHIP's 2020 Medicare certification for only $125. That's a $50 savings to you just for being part of our team.
As an added "Thank You" to our writing agents we would like to pay for 100% of your AHIP costs after you have five issued 2020 Medicare Advantage enrollments. Ask your Marketer for details. *This is only available to street level agents contracted directly with Precision Senior Marketing.
✪ 2020 Carrier Specific Certifications
To keep things simple, we have all the carrier specific certification instructions available on our certification page. Most will require you complete AHIP in advance, but not all. Please take the time to review the requirements for the different carriers you represent.
✪ 2020 Medicare Advantage and PDP First Looks
As we receive first looks and product information from the carriers we represent, we will be sharing those details with our agents. You can sign up to receive this information by visiting the following web page and completing the form. You can also call one of our marketing representatives at 800-998-7715 and ask for more details.
✪ Online Quoting Tools and Submission Platforms
PSM Has made significant investments to make sure our agents have access to the best in class quoting tools and online submission platforms. Even better, these tools are provided at no cost to our contracted agents. Please visit the following web page for more details and to request access.
✪ Lead Incentives and Opportunities
PSM is proud to be able to help support our directly contracted Medicare agents.For every ten (10) Medicare Supplement* or Medicare Advantage enrollments placed and issued, you will qualify for a complimentary 1,000 piece lead mailer*. This offer includes the postage, printing, mailing data and return postage on all submitted business return cards ~ ZERO cost to you!
For agent use only. Not for use with consumers. Certain exclusions and limitations may apply. Not affiliated with the United States government or the federal Medicare program. Enrollments for this promotion must be with carriers the agent is appointed with through Precision Senior Marketing. Eligibility for this program will be determined by PSM. Only directly contracted writing agents may participate. Lead vendor and mailers for this program will be determined by PSM, and cash equivalents and reimbursements will not be offered. Agent must be trained and certified and must abide by PSM’s compliance program.
✪ Service and Support
As a reminder, We pride ourselves on a "Do the Right Thing" approach and will go above and beyond to service the needs of our agents. We look forward to having a successful AEP and supporting you with products, technology and the personalized service you have come to expect from PSM. We appreciate the opportunity to earn your business and wish you the best!
As people approach age 65, they’re bombarded with insurance offers. While some companies continue to add to the clutter and confusion, Mutual of Omaha is focused on helping you guide your clients through the complexity of selecting Medicare coverage. So, when they turn to you for help, turn to Mutual of Omaha’s Medicare Solutions portfolio.
Medicare-age clients are looking to stay physically and financially healthy. Considering they need to make their savings last, they want to know what’s covered and how much things will cost. They want to feel confident that the coverages they choose will help protect their health and budget.
Mutual of Omaha’s Medicare Solutions can do just that.
Take a look at their products that help solve your clients’ needs during their retirement years:
Mutual of Omaha’s great senior product offerings and unparalleled service are the perfect complement to your clients’ needs.
If you have questions or would like to get contracted, please call us at (800) 998-7715 or complete our online request form.
Mutual of Omaha Rx (PDP) is a prescription drug plan with a Medicare contract. Enrollment in the Mutual of Omaha Rx plan depends on contract renewal.