Medicare Supplement Plans: Four Hidden Truths


You might know Humana as a Medicare Advantage (MA) company. But did you know we’re also in the Medicare Supplement (Med Supp) game? Not only that, we’re competitive, too. Here are the four hidden truths about Humana’s Med Supp plans. 

 

Truth #1: Age-Ins Split 50/50 Between MA & Med Supp 

According to Deft Research’s 2017 Medicare Age-In Study, most age-ins split evenly between Med Supp and Medicare Advantage. Savvy Agents understand the need to cultivate the Med Supp consumer: those people who want maximum network choice, the security of guaranteed renewal, and peace of mind. Nine in ten Med Supp enrollees value their plan1, which means Agents can’t afford to ignore Med Supp’s positive impact on their Book of Business. 

Truth #2: Humana Offers Competitive Med Supp Plans 

Over the past year, Humana has invested in its Med Supp plans to help make premiums more affordable and, in some plans, include additional supplemental benefits like Well Dine®a program that provides 10 fully prepared meals post discharge from inpatient stays at a hospital or nursing facility. Since 2010, Humana’s Med Supp plan membership has grown 9.5 times larger.2 Agents can focus their Med Supp efforts on Original Medicare plus Part D enrollees to help them close coverage gapsreap extra benefits, and gain discounts for services like hearing and vision.  

Truth #3: Humana Helps Improve Your Bottom Line 

Humana understands Agents play a key part in its financial success, which is why Humana makes selling Med Supp lucrative—not just during AEP but all year long—with periodic bonus incentives and sales contests. Contact your local Broker Relationship Executive (BRE) or Broker Relationship Manager (BRM) to learn more. With the ability to sell Med Supp outside of AEP, Agents can grow their Book of Business throughout the year. 

Truth #4: Easier to Sell Than You Think 

Original Medicare helps older Americans and those on disability get more access to healthcare, but that doesn’t mean it takes care of all their health needs. Med Supp plans can aid in curtailing costs like deductibles, copayments, and coinsurance. Med Supp plans allow members to budget for their healthcare expenses with one monthly premium versus individual copays 

Med Supp plan members may value security, seeking to minimize potential health and financial risks. They typically do their homework and expect Agents to do theirs, too, by laying out all the details and explaining the subtle nuances between plans. They may also want to take preventative measures. They often value freedom of choice. Help them see how a Med Supp plan could give them more security, prevention, and choice.  

1 https://www.ahip.org/new-study-nine-out-of-ten-seniors-value-their-medicare-supplemental-plan/
2 Humana’s 2019 Membership Data 

Ready to give Med Supp more play in your Book of Business?  

 

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