How Recession Proof is the Medicare Market?

[axeman462]

Been hearing a bit about a possible recession coming again later this year. I have only been in the business for about 4 years now; not long enough to go through an economic cycle.
So I want to ask the vets here that work Medsupps and MAPD, and who have been in the business for 10+ years. Do economic recessions hurt your business like it would another business? Or do the fact that most seniors are on a fixed income, help make this business "recession proof"?

 

[TDFnCali]

Been hearing a bit about a possible recession coming again later this year. I have only been in the business for about 4 years now; not long enough to go through an economic cycle.
So I want to ask the vets here that work Medsupps and MAPD, and who have been in the business for 10+ years. Do economic recessions hurt your business like it would another business? Or do the fact that most seniors are on a fixed income, help make this business "recession proof"?

Although I believe I know the answer to this....and it seems obvious, Im not a 10yr+ vet, so I'll wait for the proper responses.

 

[goillini52]

Been hearing a bit about a possible recession coming again later this year. I have only been in the business for about 4 years now; not long enough to go through an economic cycle.
So I want to ask the vets here that work Medsupps and MAPD, and who have been in the business for 10+ years. Do economic recessions hurt your business like it would another business? Or do the fact that most seniors are on a fixed income, help make this business "recession proof"?

I don't think it hurts the Med Supp business at all because they are on a fixed income(Social Security) and they know that income's not going to change(unless it's somebody that's wealthy and has investments). I've not seen it make a difference in the past. They have their Med Supp figured into their budget...it's a necessity.

I can maybe see them shopping for a cheaper Med Supp or maybe looking at MA.

 

[midwestbroker]

I have not had any issues with recessions and the Medicare market. The need for an additional coverage is pretty much built into Medicare.

For most, I have seen health changes, premium increases or prescription costs that are the driving factors for changing coverage, but vary rare will they drop coverage all together.

 

[rousemark]

I have not had any issues with recessions and the Medicare market. The need for an additional coverage is pretty much built into Medicare.

For most, I have seen health changes, premium increases or prescription costs that are the driving factors for changing coverage, but vary rare will they drop coverage all together.

As many seniors complain they are on a "fixed" income.. .. The up side of that is it isn't affected by recession so they still have the money to pay the premium and since a recession does not reduce their need, the med sup market is affected very little by fluctuations in the economy.

 

[GreenSky]

I believe single payer is inevitable. And it will swallow up Medicare as well.

No need for supplements when the guberment is there to take care of all our needs.

Rick

 

[axeman462]

I believe single payer is inevitable. And it will swallow up Medicare as well.

No need for supplements when the guberment is there to take care of all our needs.

Rick

I thot by single payer, you meant you were going to pay everybody's insurance

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Thanks guy, this basically what I thought. I was just wanting some confirmation

 

[agentjhc]

I believe single payer is inevitable. And it will swallow up Medicare as well.

No need for supplements when the guberment is there to take care of all our needs.

Rick

How about Medicare for all. Then they all need a Med Supp.

 

[GreenSky]

How about Medicare for all. Then they all need a Med Supp.

Do you really think there won't me a limit on the out of pocket similar to Obamacrap?

Why would anyone need a supplement to cover a max OOP of $6K?

Even if Medicare for all is similar to current, how expensive would a supplement for a 30 year old be? Pay me 20% of $10/mo. Yipee!

Rick

 

[axeman462]

Do you really think there won't me a limit on the out of pocket similar to Obamacrap?

Why would anyone need a supplement to cover a max OOP of $6K?

Even if Medicare for all is similar to current, how expensive would a supplement for a 30 year old be? Pay me 20% of $10/mo. Yipee!

Rick

Sell them MAPDs instead