Our healthcare team is back from another great Medicare Marketing conference, the 12th Annual Medicare Marketing & Sales Summit. There was a lot to see, hear, and do at the show. Now that we’ve had time to digest so many new insights, here are our top four takeaways from the show:
- Switching seniors are back in the market. Deft Research noted that nearly half of the switchers who changed plans “found better” even though they were fairly satisfied with their current Medicare Advantage Plan! Their advice to keep seniors from switching is to enhance your supplemental benefits now and make sure your members are well covered for vision, OTC discounts, and gym memberships at the very least.
- A new market to focus on are caregivers. Studies show that 39% of adults are currently the primary caregiver for an aging parent. The best approach is to market to your members, as well as their caregivers, to show that you have plans that benefit them both. Caregivers are a strong influencer, if approached correctly targeting this segment could be extremely beneficial for you.
- Another market that received attention at the show was the ‘Ready to Retire’ segment. Many seniors are delaying retirement and staying in their company-sponsored plan, which makes them an elusive target to reach. However now through some thoughtful modeling and indexing, you can find seniors in your market who are ready to retire now. This segment is prime and ready, making it the perfect target for your 2019/2020 AEP efforts.
- You must have a digital strategy. The research shows that over 45% of seniors are now doing their Medicare Advantage research online. Researching online is their first step when it comes to finding a plan or switching from their current plan. Digital must be a priority in your strategy. To start, begin with SEO/SEM and enhance your digital strategy from there. When seniors go online to begin their search, will they find you when they do?
We covered a lot in our top four takeaways, but have only scratched the surface. What were your takeaways from the show?