ARLINGTON, Va., Sept. 14, 2021 /PRNewswire/ -- The National Council on Aging (NCOA), the national voice for every person's right to age well, announced that Chapter, a Medicare Advisor with a belief that the other side of 65 should be everyone's best chapter yet, has met NCOA's Medicare Standards of Excellence. Chapter underwent a comprehensive vetting process that ensures an ethical, informative, and consumer-first experience for older adults seeking to maximize their Medicare coverage.
"Chapter shares our long-standing commitment to help older Americans navigate Medicare and find the best-fitting coverage for their needs," said Ramsey Alwin, NCOA President & CEO. "Chapter meets our rigorous Medicare Standards of Excellence, and we are excited to partner with them as a trusted Medicare Advisor and Agency. When consumers choose coverage, Chapter searches every Medicare option nationwide, not just those that pay commissions, at a level of detail that allows consumers to understand the meaningful tradeoffs across options. Chapter also supports consumers to estimate future health costs based on both beneficiaries' needs and plan information over time."
Millions of older Americans face challenges in selecting a Medicare plan each year, but current solutions often make suboptimal recommendations. Local Medicare Advisors and Agents empower consumers with knowledge, but they are not required to search a minimum number of plans, disclose the number they do search, or share whether they are incentivized to favor certain plans. Legacy tools have similar challenges. The Commonwealth Fund, a nonprofit research organization, found that such online tools typically represent fewer than half of Medicare Advantage plans.
This lack of transparency often results in consumers choosing plans that may cost thousands of dollars more during retirement or provide fewer benefits than comparable options. The NCOA and Chapter partnership will support consumers as they sign up for Medicare, learn about eligibility for related public benefits, choose specific coverage, and renew their coverage each year to best meet their needs.
To meet NCOA's Medicare Standards of Excellence, Medicare Advisors and Agents must go through a rigorous review and training process that covers compensation and anti-steering, quality assurance, carrier representation, consumer advocacy and education, customer service, and regulatory compliance.
"We are proud to work with the National Council on Aging. NCOA's Standards of Excellence for Medicare are raising the bar in our industry. The standards advance a consumer-first approach to education and decision-support, prohibit steerage to particular plans, and require plan-neutral compensation for advisors. We designed Chapter from the beginning to support this approach, and we are excited to work with NCOA to support their mission to help Americans age with dignity," said Cobi Blumenfeld-Gantz, Chapter CEO.
The National Council on Aging (NCOA) is the national voice for every person's right to age well. We believe that how we age should not be determined by gender, color, sexuality, income, or zip code. Working with thousands of national and local partners, we provide resources, tools, best practices, and advocacy to ensure every person can age with health and financial security. Founded in 1950, we are the oldest national organization focused on older adults. Learn more at www.ncoa.org and @NCOAging.
Chapter is a Medicare Advisor with a belief that the other side of 65 should be everyone's best chapter yet. Chapter helps consumers to maximize Medicare through greater choice and clarity, while minimizing cost and complexity. Chapter has a simple commitment: it's impossible to find a better Medicare recommendation or better support anywhere else. Chapter's team and technology search every Medicare option nationwide—more than 24,000—at a distinctive level of detail. Chapter's licensed advisors provide personalized and end-to-end guidance to any American navigating Medicare. Advisors earn identical compensation irrespective of the selected plan or carrier, ensuring that each consumer receives recommendations tailored to their needs alone. For more information, visit www.askchapter.com.
SOURCE National Council on Aging