Fostering Success: The Heart of Humana's Medicare Supplement Partnerships

In the intricate world of Medicare supplement products, success is not merely a solo act – it's a symphony of collaboration. As the Plan President for Medicare Supplement products at Humana, I find immense pride in the relationships we cultivate with independent brokers and marketing organizations. These partnerships are the backbone of our commitment to ensuring every Medicare beneficiary is well-informed, supported and empowered.

Collaboration
Our collaboration lies in the symbiotic relationship shared among the carrier, broker community and their upline marketing organizations. We all have a vested interest in ensuring every Medicare beneficiary is fully educated on the myriad choices they face as they age into Medicare. This commitment forms the cornerstone of what I like to call the "win-win-win" relationship – a triad of success that reverberates positively for the carrier, broker, and most importantly, the members we serve.

Strategic partnerships for a healthy business mix
Partnering strategically with brokers is not just a choice; it's a necessity for maintaining the vitality of our business and for ensuring our members are always top of mind. A healthy sales mix is crucial to sustain the competitiveness of a block of business and help keep annual premium increases manageable for members. This collaboration not only fortifies persistency but also plays a pivotal role in limiting churn, a factor that can be detrimental to both carrier and broker alike.

• Did you know? – First-year medical expense ratios (MERs) have the largest impact on the ability for a carrier to maintain rates. While underwritten business is best for the long-term health of a block of business, Open Enrollment business brings a 90-100% MER industry wide, while guaranteed issue business brings with it MERs well over 100%.

The power of open relationships
Open communication is the lifeblood of successful partnerships. Welcoming feedback from our valued brokers is not just encouraged; it's integral to our growth. The willingness to listen, learn and adapt to the evolving needs of our clients and the market is what sets us apart. By maintaining open relationships, we foster an environment where constructive criticism is a catalyst for improvement, ensuring our processes align with the highest standards.

• Did you know? – At Humana, we are already working with our internal teams and soliciting feedback for our 2024 annual enrollment period (AEP) lessons learned. We want to understand where we performed well and where we might have opportunities to improve these processes. Ultimately, we are striving to make doing business with Humana easier.

Being there when it matters most
In the fast-paced world of Medicare Supplement plans, being present when brokers need assistance is a commitment we hold sacred. Our promise goes beyond providing a product; it extends to ensuring our clients receive the care and support they deserve.

• Did you know? – We view the partnership between our Medicare Supplement Channel Team and the MarketPoint Field Team as a strategic advantage. Between our Medicare Supplement Channel Directors and MarketPoint Broker Relationship Managers, we are only a phone call or email away from engaging to support your needs.

A personal approach to social media monitoring
In today's digital age, social media has become a powerful tool for expression. Understanding the pulse of the online community is crucial, and that's why I take a personal approach to monitoring social media. Beyond recognizing that everyone needs an outlet to vent and share frustrations, I see it as an opportunity to intervene and assist where possible. This proactive stance aligns with our commitment to being more than just a carrier; we are active participants in the conversations that matter to our brokers and clients.

A legacy of excellence
The success of Humana's Medicare Supplement mission is deeply intertwined with the strength of our partnerships. As the Plan President, I am not just a leader; I am a participant in a collective journey toward excellence. We are committed to fostering positive relationships, maintaining a healthy business mix and being responsive to the needs of our partners and our members.