NAIFA CEO Kevin Mayeux, CAE, released the following statement in response to the Urban Institute report, “Challenges of Choice in Medicare: The Role of Agents and Brokers in a Public Program,” released today:
“The Urban Institute’s ‘Challenges of Choice in Medicare’ report rightly recognizes the overwhelming complexity Medicare beneficiaries face and the essential role agents and brokers play in helping seniors navigate their options. Knowledgeable, community-based financial professionals provide personalized guidance, ensure clients understand their benefits, and deliver ongoing support year after year, a level of service that CMS and state programs simply cannot match with current resources.
“At the same time, it’s important to clarify that agents and brokers are not the problem; they are part of the solution. While the report references rising commissions and marketing costs, it fails to account for two critical factors: rapid growth in Medicare Advantage enrollment and the natural adjustments tied to inflation and cost of living. Misaligned incentives stem from plan practices, such as varying or eliminating commissions mid-year, not from the dedicated professionals serving seniors. Policy reforms should focus on curbing misleading marketing and lead generators, stabilizing plan-level compensation practices, and improving federal-state oversight and data sharing. Seniors deserve clear, reliable guidance, and experienced professionals who understand the complexities of Medicare stand ready to assist.”