The current state of the Medicare Advantage and Medicare Part D prescription drug markets has left analysts at Mark Farrah Associates without much material for grabbing clients’ attention.
Low interest rates are suffocating insurers in the long-term care insurance market and some life and annuity sectors.
Affordable Care Act complications are rocking the ordinary individual major medical market.
In the Medicare Advantage and stand-alone Medicare drug plan markets, the outlook looks nice.
“Many companies will offer zero or low-premium plans, appealing to more price-sensitive seniors, while others will present higher-premium plans with richer benefits and possibly lower cost-sharing,” analysts at the Mark Farrah predict.
The Medicare Advantage plan and Medicare drug plan annual election period started Oct. 15 and is set to run until Dec. 7.
Mark Farrah is courting issuers, wholesale distributors and retail producers in that market with a new batch of Medicare market data.
The Medicare Advantage program gives private insurers a chance to get paid to sell alternatives to traditional Medicare Part A hospitalization and Medicare Part B outpatient and physician services coverage.