United Capital is partnering with Medicare BackOffice to refer clients with Medicare inquiries to a team of licensed, contracted and certified insurance agents, according to a recent announcement. The Medicare BackOffice agents will work directly with end-clients to provide them the solutions they need.
United Capital’s partnership comes at a time when a recent study shows caregivers, particularly Gen X caregivers, struggle to find the right information on topics like Medicare and long-term care insurance. As baby boomers near retirement, many with a high degree of uncertainty in their financial plans, United Capital’s advisors will be able to provide information and resources to clients without sacrificing their focus on financial advice, said the company. It’s a part of CEO Joe Duran’s message to advisors that they should be helping clients to “live richly.”
Advisors will receive guidance in helping manage inflating healthcare costs, said Brian Hickey, VP at Medicare BackOffice. A healthy 65-year-old couple retiring in 2017, for example, faces hundreds of thousands of dollars in lifetime healthcare premiums, according to government and research data. Data shows that healthcare cost inflation outstrips the cost of living adjustments retirees expect to receive.
Both companies noted the partnership allows their employees to focus on their business lanes. “Through this partnership, our advisors can now refer clients to the Medicare BackOffice agents, who can better answer their Medicare plan questions, compare plans and maybe even help them find potential cost savings. It’s more efficient for us,” said Heather Kelly, VP of risk management at United Capital.
“By giving our partners the basic Medicare knowledge they need, we help them avoid being blindsided by clients’ Medicare questions or Medicare rules,” added Hickey. “No one can become an immediate expert on Medicare, because it’s just too complicated.”
Founded by Joe Duran in 2005, United Capital manages $23.3 billion in assets, according to the firm.