Did you know that by 2030, it is expected that nearly 80 million individuals will be enrolled in Medicare?
So it should be of no surprise that the Medicare business is booming. Just look at the numbers! Net Medicare spending totaled $582 billion in 2018 – which is approximately 14% of total federal government spending. And that number is projected to rise to nearly 18% of the budget in about a decade’s time. Medicare finances about one-fifth of all health spending and approximately 40% of all home health spending. Not only that but just last year, Medicare provided benefits to 18% of the entire nation’s population
Since Medicare continues to play such a significant role in the American health care delivery system, insurance producers who work with seniors and beneficiaries in providing these services and products need to know about Medicare’s benefits and limitations. And the required understanding for those who market Medicare Advantage and Part D plans, specifically, is even more critical.
Learn more about Medicare’s important offerings in order to provide valuable insight to your clients as they make critical healthcare decisions.