Get Ready for the Med Supp Buyer Surge
By Stacy Varney – GenRe
By 2030 the number of people age 65+ is forecast to double in size, reaching 71.5 million; by 2050, over 86 million. With the expected surge in Medicare buyers, the share of 65+ seniors looking for supplemental coverage to bridge the gaps left by Medicare will also expand. We surveyed nearly 2,000 beneficiaries who have either Medicare Advantage or Med Supp insurance: it’s clear consumers value agents’ recommendations concerning Med Supp plans - whether they initiated the contact with the agent or not. When deciding which option to select, 31% of participants reported wanting a high degree of assistance from a professional.