Outdated Medicare Marketing Strategies Likely to Cost Health Plans Millions

An Accenture survey of 2,301 U.S. consumers found 48 percent plan to postpone enrollment in Medicare beyond age 65, and health plans that fail to reconsider their marketing strategies will likely lose out, reports HealthLeaders Media . Seventy percent of respondents nearing Medicare age have performed at least one health activity online, and 53 percent say they will shop for Medicare plans online. Each new Medicare Advantage enrollee is worth about $11,000 in government premium reimbursement annually, and Accenture says improved marketing performance can lead to hundreds of millions in revenue boosts for health plans over time. A key factor in the Medicare enrollment delay is the fact that the Social Security "full retirement age" with maximum benefit is 66 years and two months. Accenture advises health plans to first concentrate marketing on the older-than-65 demographic, addressing their existence and value with as much vigor as younger entrants. In addition, because new-to-Medicare consumers are using digital more often, health plans should make this medium central to engagement. Finally, by personalizing consumers' digital experiences, health plans would become a valued and respected resource for potential enrollees.