How Medicare Advantage Members Will Benefit from Print Communications

Since the beginning of this year, we have seen a number of different trends in the medical and insurance arenas. The use of voice search technology and telemedicine is on the rise. More and more consumers are using digital platforms and applications to monitor their health and medical stats. Employers are making their employees’ health a priority by offering preventive health and wellness programs, designed to engage individuals in their overall health so they can practice better exercise and nutrition habits.

2019 Healthcare Trends Infographic

One major trend that we cannot avoid is the rise of Medicare Advantage members. Since 2010, the number of those enrolled in Medicare Advantage has nearly doubled to 20 million, and is expected to double again in 2025. Health plans offering Medicare Advantage are seeing the benefits. United Healthcare and Humana have both reached record stock prices, and surpassed their Wall Street projections.

Adults born in the 50’s will be the next wave to enroll in Medicare Advantage
So what is causing this drastic influx? The Baby Boomers. More and more adults born between  1945 -1965 are turning 65, making them eligible for Medicare.

Baby Boomers can be separated into two groups: leading edge and trailing edge. Leading-edge boomers have already aged into the program, where the trailing-edge boomers are the next wave of enrollees. Trailing-edge boomers tend to be more tech-savvy than their older counterparts. They utilize technologies such as telemedicine and remote-patient monitoring, making aging in their home more comfortable and efficient.

Growing Concerns about Privacy and Security of Personal Health Information
While their interest in technology grows, so does their concern about the security and privacy of their personal health information. You know who we are talking about–the older uncle you have or even your parents. They only recently started using social media and prefer written checks over electronic money payment apps such as Venmo.

Baby Boomers are not the only ones concerned. The leadership teams within corporate organizations are expressing their concerns about the level at which their technical infrastructure needs to be in order to properly protect and secure data. The 8th Annual Industry Pulse Report surveyed over 2,000 health executives, and nearly half of the respondents indicated that digital health tools are not more widely embraced due to security and privacy concerns.

Print as a preferred communication method for sensitive information
To ease member concerns around security, health plans can offer printed communications to members for their health information. In a global survey of over 10,000 respondents, the findings prove that print is still very much a primary communication method (even in a digital age), and also preferred by consumers in certain instances. More than 76% of respondents believed that their personal information, both financial and health, is at a greater risk of being hacked or stolen when it is being stored electronically. They feel better keeping hard copy prints of those documents.

Here at T/O Printing, we see this trend first-hand. We are a secure print facility, HIPAA and SOC 2 certified, and have years of experience handling sensitive health plan member information. Our clients trust that not only will their data be safe, but also that the delivery of their members’ printed statements will be secured and verified by the production tracking systems we have in place. To learn more about our secure workflows and process, check out our solutions page.

 

Sources:

https://twosidesna.org/Survey2017/

https://healthitsecurity.com/news/healthcare-data-privacy-security-concerns-hinder-digital-adoption

https://healthitsecurity.com/news/himss-medical-device-security-data-breaches-top-concerns

https://www.usatoday.com/story/news/2018/10/15/medicare-advantage-enrollment-growing-affordable-care-act-obamacare-insurance-plans/1618652002/

https://www.geneia.com/blog/2018/june/baby-boomers-and-the-silver-tsunami-the-medicare-advantage-race