University of Kansas Study Shows e-Brokers Like SelectQuote Extend Rural Residents’ Access to Medicare Advantage Plans

Key Terms

medicare advantage medical

Medicare Advantage is a type of health insurance plan offered by private companies that covers services traditionally provided by government-run Medicare. Think of it as a bundled package that combines hospital, doctor, and other medical care into one plan, often with added benefits. For investors, it matters because the popularity and profitability of these plans can influence healthcare companies and the broader health insurance industry.

e-brokers financial

E-brokers are companies that let people buy and sell stocks and other investments over the internet using a website or app, acting like an online storefront for financial trades. They matter to investors because they make trading faster, cheaper, and more accessible—offering tools, price quotes and account management that put control in the user's hands and can change how easily and quickly securities are bought and sold.

licensed medicare insurance broker financial

A licensed Medicare insurance broker is an individual or firm authorized by regulators to sell and advise on Medicare plans, acting like a knowledgeable matchmaker who helps seniors and eligible people choose the right coverage from competing insurers. Investors care because these brokers are a key distribution channel that drives enrollment, revenue and customer retention for insurance companies, and their effectiveness, licensing status and compliance record can materially affect sales, costs and regulatory risk.

patient-centered pharmacy home medical

A patient-centered pharmacy home is a model where a pharmacy acts as a central hub for a person’s medication care, coordinating prescriptions, counseling, chronic disease monitoring and communication with other health providers. For investors, it signals potential for steadier revenue and lower overall costs because better medication management can improve patient outcomes, reduce hospital visits and create ongoing service-based income—like a trusted neighborhood clinic that also handles your prescriptions and follow-up care.

Research finds e-brokers bring access to low-income seniors across a 10-state region; approximately 400,000 residents live in communities without a single licensed Medicare insurance agent

OVERLAND PARK, Kan.--(BUSINESS WIRE)-- E-brokers greatly expand opportunities for rural residents to obtain health insurance through Medicare Advantage plans, according to a new study conducted by researchers at the University of Kansas in collaboration with SelectQuote, Inc. (NYSE: SLQT).

The KU research analyzed data across 10 rural states and found that there are approximately 400,000 residents living in counties without a local, licensed Medicare insurance broker in their community. This creates a substantial access hurdle for seniors who are often in the greatest need of specialized healthcare and financial support. This data demonstrates that e-brokers like SelectQuote, which operate in nearly all counties across the nation, serve a valuable role in closing gaps in broker services.

In each county of the 10 states examined in the KU study, researchers analyzed how many traditional brokers serve the county, how many Medicare Advantage plans are offered in the county, how many Medicare Advantage plans SelectQuote offers in the county, and how many active SelectQuote beneficiaries are in the county. The 10 states studied were Iowa, Kansas, Louisiana, Mississippi, Nebraska, New Mexico, North Dakota, South Dakota, Vermont and Wyoming.

The study found a strong overlap between rurality and lack of local broker access. In other words, counties with the highest percent of rural residents are often the same counties with less access to licensed local brokers. SelectQuote offers Medicare Advantage plans in nearly every county, even those without local brokers.

“The core finding of this study is that broker coverage is often thin in rural and financially vulnerable communities,” said Bob Grant, SelectQuote President. “Our technology-enabled platform allows us to serve low-income individuals who drive disproportionately high healthcare costs in the U.S. We are actively closing the access gap by helping chronically-ill individuals with their healthcare needs.”

“Additionally, we are able to serve beneficiaries in remote locations just as effectively as those we serve in major cities,” Mr. Grant continued. “At SelectQuote, we strive to ensure that every senior, regardless of where they live or their financial status, has the choice and expert guidance they deserve.”

SelectQuote’s Reach

Additional data from the study also supported the finding that e-brokers like SelectQuote successfully bridge income and geographical access gaps:

• Rural Reach: In SelectQuote’s case, the research indicates that SelectQuote’s active membership base nationally skews about 45% more rural than the national distribution of Medicare Advantage beneficiaries.
• Income Disparity: The study spotlights that lower-income counties generally have fewer local brokers per 10,000 residents than higher-income counties. SelectQuote’s customer base, for example, over-indexes in counties with lower median household incomes.
• Plan Choice: The findings also noted that SelectQuote generally offers a broader range of plans than local brokers in counties with lower median incomes.

SelectQuote serves seniors in nearly every county across the ten states studied. SelectQuote was also found to be more active in counties with high poverty among older adults, suggesting the e-broker model helps fill gaps where financial barriers to access may be greater.

The full University of Kansas research study can be accessed here.

About SelectQuote:

Founded in 1985, SelectQuote (NYSE: SLQT) pioneered the model of providing unbiased comparisons from multiple, highly-rated insurance companies, allowing consumers to choose the policy and terms that best meet their unique needs. Two foundational pillars underpin SelectQuote’s success: a strong force of highly-trained and skilled agents who provide a consultative needs analysis for every consumer, and proprietary technology that sources and routes high-quality leads. Today, the Company operates an ecosystem offering high touchpoints for consumers across insurance, pharmacy, and virtual care.

With an ecosystem offering engagement points for consumers across insurance, Medicare, pharmacy, and value-based care, the company now has three core business lines: SelectQuote Senior, SelectQuote Healthcare Services, and SelectQuote Life. SelectQuote Senior serves the needs of a demographic that sees around 10,000 people turn 65 each day with a range of Medicare Advantage and Medicare Supplement plans. SelectQuote Healthcare Services is comprised of the SelectRx Pharmacy, a Patient-Centered Pharmacy Home™ (PCPH) accredited pharmacy, SelectPatient Management, a provider of chronic care management services, and Healthcare Select, which proactively connects consumers with a wide breadth of healthcare services supporting their needs.

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Investor Relations:

Sloan Bohlen

877-678-4083

investorrelations@selectquote.com

Media:

Matt Gunter

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Source: SelectQuote, Inc.