Medicare Select, a standard Medicare Supplement Insurance plan coupled with a hospital network, features up to 20% lower premiums than comparable Medicare policies. This creates a win-win-win scenario for the Medicare beneficiary, the hospital, and the insurer, who share better health care costs, a tighter customer relationship, and improved health outcomes in the process.
Medicare Select is uniquely attractive to agents because of the greater affordability of Select plans and 7-10% higher persistency than competing alternatives. Moreover, the partnership with a well-known and credible hospital adds immediate value to the Select sale, and the savings realized by the consumer can be utilized to fund other insurance and financial needs.
Best of all, however, is the size of the Medicare Select market. With over 43 million seniors and less than 2.5% penetration, Medicare Select plans offer a sizeable and growing opportunity to agents, hospitals, and insurers looking to expand their sales.