Why should you consider an over-the-counter supplemental benefit for your Medicare Advantage members?
The numbers don't lie.
Offering your members enhanced access to OTC products can reduce financial strain on other healthcare costs:
The OTC benefit is steadily rising in popularity, with a significant uptick in 2019:
Seniors are shopping for supplemental benefits, and an offering like OTC can have an impact on your enrollment:
*This analysis from Pareto's Spotlight technology compared the most recent year-over-year data giving a snapshot of how the OTC benefit affected enrollment for existing plans for the 2019 year. This data set excludes new health plans and plans that exited the market.
Partnering with a leading solution provider supplying an end-to-end solution can also impact those enrollment numbers:
Resources:
1 Pareto Intelligence, 2019 MA Enrollment Analysis
2 HealthScape Advisors, "The Rise of Over-the-Counter (OTC) Programs in Medicare Advantage Plans", April 2019
3 Consumer Healthcare Products Associate, White Paper: Value of OTC Medicines to the US Healthcare System , March 2019