Medicare beneficiaries with one hospitalization in 2010 paid $4,475 out of pocket on services, on average, while those with two or more hospitalizations paid $6,216.
Patients with a hospital readmission within 30 days of discharge spent roughly $1,200 more on services than those with only one inpatient stay in 2010 ($5,687 vs. $4,475, respectively, on average), including higher spending for medical providers and supplies, inpatient hospital services, and skilled nursing facility (SNF) services.
Among beneficiaries who were hospitalized in 2010, those who received post-acute care in a SNF had significantly higher out-of-pocket spending on services than those who were discharged without SNF care ($9,508 vs. $3,645, respectively, on average)
According to the Kaiser Family Foundation, MA sales grew in virtually every state nationwide. In 2016, almost 31% of individuals eligible for Medicare, are enrolled in a Medicare Advantage plan. That’s great news! Consumers like the coverage and benefits provided by a Medicare Advantage plan, however there are some gaps that aren’t fully covered by an MA plan.
Some of the largest and most unpredictable out of pocket costs that consumers typically face when they have an MA plan are inpatient hospital stays, and skilled nursing facility costs. As an agent you have the ability solve this problem for your client, and make an additional commission as well! It just makes sense. A hospital indemnity plan can pay your clients for hospital admittance and days in a skilled nursing facility. They’re typically very affordable and have a high rate of retention.
Agent compensation is comparable to a Medicare Advantage plan. Why not make double commission? Talk to one of our agent support coordinators today about getting contacted to sell hospital indemnity plans. We’ll help you get supplies and recommended training.