IB Talk

IB Talk  00:00:07 

Welcome to IBW talk, the leading podcast for the insurance industry across the United States brought to you by insurance business. 

Gia Snape  00:00:22 

Welcome to IB talk. I'm Gia Snape news editor for insurance business. Today we're focusing on the pivotal role brokers play in guiding their clients through the intricate landscape of insurance plans, particularly in the realm of Medicare. Brokers, clients rely on them not just to recommend the best insurance plans for their needs, but also to know the ins and outs of insurance platforms to share tips on how to help non tech savvy clients. We're speaking to TJ Gibb, leader of Medicare Part D at Humana. TJ can talk about Humana's latest user friendly innovations for PDP members, why members should embrace these digital tools and where they can go to learn more about digital options. Welcome to IB talk, TJ. 

TJ Gibb  00:01:12 

Gia, great to be with you. 

Gia Snape  00:01:14 

TJ, please walk us through some of the latest digital innovations Humana has introduced for Medicare Part D members. How do these innovations enhance the user experience?  

TJ Gibb  00:01:25 

Sure, Gia. As the healthcare industry increasingly embraces digital transformation, it remains a priority for Humana to continually adapt and innovate to meet and exceed member expectations. Humana's easy to use online dashboard, app and other tools are specifically designed to meet the unique needs of our members. As an example, our dashboard helps members track their drug spend, anticipate upcoming costs, and verify pharmacies status as preferred cost sharing, standard cost share or out of network all in one convenient online portal. Members can also compare tier 1 and tier 2 medications to inform important decisions they will be making about their health. Members will also see Humana has 1000s of preferred cost sharing pharmacies, including Walmart, Sam's Club, Costco, several grocery store chains, and center well pharmacy. We also have single sign on capabilities that make it easy to handle both health plan and home delivery pharmacy items. You can log into my Humana website, or the mobile app to access drug pricing, as well as potential savings and alternatives. You can easily transfer prescriptions to center well pharmacy and track medication refills and deliveries within cwp.com or the center well app, all with one single sign on. 

Gia Snape  00:02:49 

What specific challenges do Medicare eligible clients face when it comes to navigating insurers' platforms and utilizing digital tools? How does Humana help address these challenges?  

TJ Gibb  00:03:01 

Well, your listeners know that our industry can be very complicated and create challenges for people with Medicare. And really for all of us. There are so many apps, platforms and websites available that can be intimidating to embrace the new digital tools. During the pandemic, we saw many more people, including those eligible for Medicare, turn to and depend on technology. We found easy to use innovative tools as well as excellent support can be a user friendly, time saving important informational process for our members. For example, for many people with Medicare, comparing drug prices, and determining which drugs are covered, the associated out of pocket costs, and available medication alternatives are all very important, but can seem like a daunting task. Humana has unique resources like SmartSummary RX, which helps members track and manage prescription drugs. Another program called Maximize Your Benefit RX is designed to help members determine if alternative medications are available more conveniently and at a lower cost. We also have resources to help identify financial assistance offered by drug companies and various charities which can help with prescription drug costs. And if you have limited income, and resources, a government program called "Extra Help" may be available to help pay for part D premiums, deductibles and copayments related to the Medicare prescription drug plan. You can learn more by visiting www.humana.com/pdp and again that is www.humana.com or /pdp 

Gia Snape  00:04:44 

In what ways do Humana's digital tools support brokers in their role of recommending the best insurance plans for their clients? How do these tools enhance the broker client relationship? 

TJ Gibb  00:04:57 

Humana is a very broker and agent friendly organization. It's obviously critical to understand your clients individual needs. Ask your clients how many medications they're on. And if they're taking them as prescribed, and how they compare drug prices. Do they have the necessary tools and resources? If tools are outdated, you can add value by introducing them to more contemporary digital technologies that may save them time, effort and money. This is especially true for older adults, who tend to have more chronic conditions and prescription medications. They'll be better served if you recommend a plan that in addition to offer the coverage they need, has the most user friendly tools. As a broker, know in which Medicare Part D plan provides the most resources that are easy to use will increase your client satisfaction and improve the broker client relationship. 

Gia Snape  00:05:51 

For clients who may not be comfortable with technology? What tips or strategies do you recommend for brokers to help them navigate digital platforms and utilize digital tools effectively? 

TJ Gibb  00:06:04 

Well, Humana's tools are designed for the non tech savvy in mind. But if a member needs further assistance, we have high touch customer service both online and telephonically, Humana has been ranked number one in customer experience for three years in a row by Forrester. Humana received the highest consumer experience index score among health insurers and foresters proprietary 2023 Consumer Index survey. While we are very proud of our digital tools, we understand there can be situations in which interacting with a live service representative is needed. We want to meet members where they are fully support them over they need us. 

Gia Snape  00:06:44 

Can you discuss any further developments or upcoming enhancements that Humana has planned for its digital offerings in the Medicare Part D space? What can brokers and their clients look forward to? 

TJ Gibb  00:06:56 

Absolutely. Our teams are working on many upcoming Medicare changes. We want the messages to be easy to understand, and an excellent resource for our members as they navigate these modifications. In 2025, some changes include individuals with Medicare Part D won't pay more than $2,000 out of pocket for covered prescription drugs. The Medicare Prescription payment plan is an option for enrollees to pay their out of pocket amounts for Part D drug costs through monthly payments over the course of the plan year. As with every year members should review the specifics of their current plan to understand any changes in covered drugs, benefits, such as deductibles and co pays and pharmacies in the network.  

Gia Snape  00:07:42 

Wonderful, lots to look forward to. TJ, thank you so much for talking to us on IB talk today. 

TJ Gibb  00:07:48 

Gia, great to be with you. 

Gia Snape  00:07:50 

And that's the wrap for this episode of IB talk. I'm Gia Snape news editor of insurance business. Thanks for joining us. 

IB Talk  00:07:58 

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