Deft Research recently published its 2023 Medicare Age-In Study, which assessed how the uninsured and those in commercial and Affordable Care Act market health plans navigated their journey as they aged-in to Medicare. Here are seven findings from the national market research report.
The annual report compares the experience of more than 1,600 Medicare age-ins, who are part way through their journey, to the reflections of those who just completed it. George Dippel, president of Deft Research, said the full report uncovers the ideal timing for age-in marketing campaigns, why certain segments prefer one private option over the other, which tactics are associated with members who convert from their old commercial brand to the same brand for Medicare, and which attributes 64-year-olds value the most in an agent.
In two executive research briefs from the report, Dippel shared insights into the shifting landscape of the age-in market:
- In the three years since COVID, the percentage of 65 and 66-year-olds who are not yet in Medicare increased by a third from just 27 percent to now 36 percent.
- Once seniors hit the age of 67 or older, 96 percent have transitioned from eligible to enrollee.
- There was an increase in online enrollments for age-ins (some agent-facilitated, some not) over already high levels from previous years when the pandemic forced more consumers to digitally enroll.
- Those with college degrees and higher incomes did skew more toward digital enrollment preferences, the same segment that generally skews slightly more toward MedSupp.
- Those with lower incomes or who are widowed were more likely to enroll over the phone. These middle to middle-to-lower socioeconomic consumers represent the segments more likely to skew slightly toward Medicare Advantage.
- There is a correlation between seniors who enroll in a plan via assistance from live agents and continue that relationship after the sale and improved CAHPS scores for that MA plan. Indeed, the percentage of seniors rating their Medicare Advantage plan a 9 or 10 in the CAHPS “Best Health Plan/Worst Health Plan” question can increase by as many as 19 percentage points.
- When an age-in has someone in their inner circle who is already in Medicare Advantage, the senior leans toward Medicare Advantage six-to-one over MedSupp.
For more information about the complete findings from the 2023 Medicare Age-In Study, click here.