When healthcare consumers are willing to share information, health plans can use the data to build a “genome” about individuals based on their retirement intentions and other information. This data arms health plans to deliver digital experiences that are increasingly personalized because the experience and messaging adapt to the data imprint and intent of the user. Insurers can explore this approach by testing a personalized experience that accounts for retirement intention and measuring the engagement metrics of a test group against a control.
Act on the opportunity
There is a new reality in Medicare. Consumers are retiring later, and they are more digital than ever. First movers that capture this fast-growing audience have a substantial revenue opportunity at their fingertips.
Health plans should move quickly to:
Reset their approach to “Ready now/Ready later.” Rather than linearly going after those about to turn 65, health plans must address the existence and value of later buyers with equal vigor. Those who adapt quickly will gain a first-mover advantage.
Put digital at the center of engagement. New-to-Medicare consumers are using digital in health more than ever, and adoption will continue to grow. Connect with them through their preferred channel.
Personalize the digital journeys. The life situations of individuals reaching Medicare age are all different. Use data to deliver relevant content and become a valued and respected resource.
This audience is here to stay. It is only set to grow. Health plans can take advantage by taking the right approach to connecting with this important and growing segment.
1 Deft Research, 2017 Medicare Age-In Study, Accessed August 10, 2017
2 Pew Research Center, “Baby Boomers Retire.”, December 29, 2010
3 Kaiser Family Foundation, “Projected Change in Medicare Enrollment, 2010-2050”, July 15, 2013
4 eMarketer, Data: US Digital Buyer Penetration, by Age, 2017 (% of population), January 1, 2017
5 Accenture 2018 Consumer Survey on Digital Health, March 6, 2018