On April 14th, Jeff Fox and Diane Hollie of Gorman Health Group were joined by George Dippel from Deft Research for a thoughtful, data-driven discussion about the enrollment outcomes of the 2020 Medicare Advantage (MA) Annual Enrollment Period (AEP).
With support from a recent analysis on the AEP data by Pareto Intelligence, the webinar presentation explored the many variables affecting product and benefit design in MA, as well as how MA organization (MAO) decisions about those variables impacted 2020 enrollment.
If you did not get a chance to attend the webinar, click here to view the recording.
Some of the key takeaways from this discussion an analysis include:
- Lesson #1 – Explosive Growth in MA Continues: With a projected 80 million Medicare-eligible Americans by 2035 and 41% of age-ins enrolling in MA each month, the MA market is ripe with opportunity. Where are we seeing the most growth by geography? By MA plan? In which products?
- Lesson #2 – $0 PPOs Are Changing the Game: When looking at 2020 enrollment data, the movement to $0 PPOs is still in the early stages, but these plans are growing rapidly. Data from Deft Research’s 2020 Medicare Shopping and Switching Study gives us critical insights to consider while building your own MA products.
- Lesson #3 – Market Movements Introduce New Options for Consumers: New market entrants and exits change the competitive landscape for MA every year. In 2020, Medicare beneficiaries had more plans to choose from, more types of plans (such as Special Needs Plans) to evaluate, and more benefits to consider (especially when taking supplemental benefits into account). What does this mean for MA plans going into 2021?
- Lesson #4 – Changing Consumer Behavior is Creating New Trends: Additional research from Deft on shopping and switching behaviors for seniors provide insight on how to market your MA plan during an election year. What strategies and tactics can you deploy to break through the clutter?
- BONUS – Taking COVID-19 into Account: At the end of the webinar, our Medicare experts discuss how to communicate with and market to MA beneficiaries in the aftermath of COVID-19, while also navigating an election year.
Watch the Webinar On Demand!
These lessons are discussed at length in GHG’s April 14th webinar titled, “Lessons Learned from the 2020 AEP Results.” Use the form below to receive access to a recording of the webinar and explore the various insights from Gorman Health Group, Pareto Intelligence and Deft Research.
Where Do We Go from Here?
Now more than ever, MA plans must be prepared to adjust and pivot sales and marketing strategies to address a post-COVID-19 world and this busy election year.
For help building a data-driven strategy, get in touch with GHG’s Sales and Marketing experts.