CSG Actuarial reported last week:CMS released 2013 Medicare Advantage (MA) plan data last Wednesday, September 19th revealing almost 5,976 new plan combinations and the non-renewal of more than 6,056 plans for 2013. In many cases non-renewing plans are being replaced by a new plan from the same carrier in that area.
Due to non-renewed plans, approximately 1.7 million seniors are being dis-enrolled from their current plan. Most non-renewed insureds (1.3 million) will be offered a replacement by their current carrier; however, according to CMS data, 393,819 will actively be looking for coverage—a 36% increase over the number of seniors this time last year. The top four states for non-renewed insureds are Washington, Virginia, California, and Texas.The 36% increase in non-renewals year over year provides opportunity for agents and carriers to fill in the coverage gaps.
So, what does this mean to you, the agent serving the senior market? An opportunity to enroll more people in programs that supplement Medicare in the last quarter of 2012 than most agents will all year long.
At Senior Marketing Specialists we’re ready… ARE YOU???(This article was written by Philip Warren of Senior Marketing Specialists.)