Medicare Marketing Rules Look Wimpy: Ari Parker
Discouraging Joe Namath and William Shatner from starring in TV ads that give what might be unrealistic descriptions of Medicare Advantage plans is a good idea, but it doesn’t do much to help consumers understand and compare Medicare coverage options, ultrawealthy says.
Parker is a co-founder of and the head advisor trainer at Chapter, a Medicare plan broker that helps clients compare all Medicare options and recommends coverage options without regard to its own commissions or other payments.
Parker is also the author of “It’s Not That Complicated,” a book about how Medicare works.
Parker started out by earning a bachelor’s degree from the University of Illinois Urbana-Champaign in 2009 — during the Great Recession — then going to work as a high school speech and debate coach.
He went back to school, got a law degree from Stanford, and spent two years at Radius, a customer data firm, before helping to launch Chapter in 2019.
He answered questions via email about how the Medicare plan market is, and is not changing.
The answers to the questions in this interview have been edited.
THINKADVISOR: How do you see the new Medicare plan marketing rules affecting, or not affecting, things?
ARI PARKER: It’s great that the Centers for Medicare and Medicaid Services (CMS) is trying to curb misleading advertising in the Medicare space. Unfortunately, I don’t think these rules will have a big impact. When do disclaimers and fine print ever make a difference?
This year, I suspect celebrity Medicare sales pitches in advertisements will probably be a little more toned down following public scrutiny.
Still, consumers will continue to have very few resources available to them to make the informed decisions needed to access the affordable, high-quality health care that Medicare can provide.
How do you see the market changing this year?
Many Medicare Advantage plans are investing heavily in plans with $0 premiums, adding plans with “Part B giveback” options that rebate a portion of the Part B medical premiums, and expanding the scope of additional benefits.
Meals, quarterly over-the-counter drug allowances, and transportation to and from the doctor’s office are increasingly common benefits.
At the same time, insurance companies continue to lower copayments for visits with in-network physicians.
What’s happening with the premiums?
Location, location, location: Every area of the country tends to have different trends. In general, the carriers with the greatest market share in each area are maintaining their premiums relatively stable.
