Why Choose Move Health? A Side-by-Side Comparison to Other Healthcare Planning Companies
We’re often asked, “Who are your competitors?” It’s a fair question, but the truth is that no one does exactly what we do. That’s not a brag, it’s simply a fact. However, there are a few companies and services that offer general health insurance and/or Medicare guidance. So if you’ve ever wondered how our healthcare planning software stacks up against competitors, keep reading!
But before we get into the comparisons, let’s first establish what Move Health does and why we’re different from all other healthcare/Medicare planning companies.
What does Move Health do?
Move Health is the premier healthcare insurance and Medicare planning firm for financial planning professionals and their clients. Our groundbreaking platform puts first-of-its-kind healthcare planning analysis tools and an expert team in financial advisors’ hands.
We offer healthcare planning software (HealthPlanner) to give financial advisors the ability to plan for clients' current and future healthcare costs, thereby creating a holistic and accurate financial plan. HealthPlanner allows financial advisors to better protect their clients’ assets through customized analyses of a client’s healthcare costs based on their current and potential health and lifestyle needs and risks. Through the HealthPlanning Analysis, your clients get a clearer picture of how to plan for their current and future finances.
But Move Health is more than just a tech platform that gives you a colorful report that you hand to your client. We are a complete end-to-end solution for health insurance and Medicare planning for you and your clients. Our licensed agents have years of experience and have served thousands of clients just like yours. From initial analysis to our team providing guidance and enrollment support, our process is built to create informed and empowered healthcare consumers.
The most important feature that sets Move Health apart from virtually any and all potential competitors is that we offer healthcare planning guidance for virtually all health coverage types. Medicare, ACA Marketplace coverage, dental, vision, short-term health plans, and even healthcare-sharing programs. Most other companies that serve financial advisors only offer Medicare guidance, leaving early retirees, small business owners, and those younger than 65 without guidance through their advisor.
For an in-depth comparison of Move Health to each of the other healthcare/Medicare planning companies, keep reading:
Move Health vs HealthPilot
What does HealthPilot do?
Healthpilot is an “online insurance brokerage offering a digital experience to Medicare beneficiaries” that both advisors and individuals can use to find their ideal Medicare plan. Healthpilot also has the capability for individuals to enroll in a Medicare plan while on the platform and has integrations with both the Envestnet and Envestnet | MoneyGuide platforms.
Comparison of capabilities and features
Similar to i65, Healthpilot only deals with Medicare coverage. So, again, this limits how many clients you can offer healthcare planning to and does not consider all Life Events. Move Health does, and because of this, our healthcare planning process is truly comprehensive, creates more client touchpoints, and limits the amount of software you need to use (you have enough vendors to keep track of!)
Unlike i65, Healthpilot is free to use and is categorized as an insurance brokerage.
Move Health vs Insurance Agencies
What do insurance agencies/broker agencies do?
Examples of insurance agencies that help people choose which plan works best for their needs include vendors such as Chapter, Boomer Benefits, FairStreet, and Fair Square Medicare. For simplicity’s sake, we’ll look closest at Chapter and Boomer Benefits. Chapter has Medicare advisors who help clients choose a Medicare plan and assist with enrollment. Similarly, Boomer Benefits connects clients with an agent who will ask them a series of questions to help them determine the ideal Medicare plan for their needs and preferences.
Comparison of capabilities and features
A huge difference between Move Health and insurance agencies is that insurance agencies, including Chapter and Boomer Benefits, typically only guide clients through Medicare. Additionally, most local insurance agents only show clients the plans they have contracts with. So, a drawback to working with insurance agencies like these is that your clients might miss out on the ideal option for their needs if the agency isn’t contracted with that plan. Move Health is a hybrid insurance agency, meaning we contract with many insurance carriers, but we also show clients plan options and coverage types from which we receive no commission. Our first and only priority for clients is to find their ideal healthcare coverage option and plan for their unique needs and preferences.
Move Health vs i65
What does i65 do?
i65 offers Medicare planning software so financial advisors can engage in conversations about Medicare and healthcare in retirement. “These conversations make it easy to build trust with clients and extend the conversation to other critical topics, including estate planning, Social Security timing, and more.”
Comparison of capabilities and features
The biggest difference is that i65 only deals with Medicare coverage, whereas Move Health offers healthcare planning for Medicare (clients aged 65+), the Marketplace (clients under age 65), and additional coverage types like dental and vision. In addition to that, Move Health puts an emphasis on Life Events, which essentially means that many milestones in life and events can be used to have a healthcare planning conversation. This gets you, the financial advisor, involved in more of your clients’ financial lives and creates a more accurate financial plan throughout clients’ entire lives (not just when they turn 65 and become eligible for Medicare).
i65's software leaves it up to the advisor to digest their client's analysis and deliver the results on their own. In our experience, clients want the ability to speak with an expert about their options. With Move Health, your client gets a dedicated agent to support them via email and phone calls from start to finish for no additional cost. With i65, it’s a separate $599 fee per client for a consultation call with an i65 team member.
Move Health vs General Healthcare Costs Calculators
What do general healthcare cost calculators do?
General healthcare cost calculators, such as Vanguard, use simple tools to give a rough estimate of clients’ future healthcare costs based on a few basic questions and criteria. Some also have Medicare matching capabilities based on a few client preferences.
Comparison of capabilities and features
There are many general healthcare cost calculators out there, some are free and some aren’t. They also vary in their capabilities and features. For the purposes of a side-by-side comparison, we’ll look at how Vanguard’s healthcare cost estimator and Medicare match feature compare to Move Health. The most notable difference is that Vanguard doesn’t get as granular and specific as Move Health when asking about clients’ information, preferences, and health needs. They ask a few simple questions to compute their estimates, making them unable to factor nuance into their estimates. Since Move Health puts an emphasis on Life Events and also has clients complete a fairly comprehensive profile, your clients will receive a truly personalized HealthPlanning Analysis that takes all of their details and situations into account. Figuring out healthcare costs needs to factor in criteria such as doctors, medications, and health needs; otherwise, the types of coverage assessed or costs calculated are inaccurate.
Move Health vs Gallagher (formerly known as Bernard Healthcare Financial Planning)
What does Gallagher (Bernard Healthcare Financial Planning) do?
Their team of non-commissioned advisors helps individuals and families who are referred by one of their partners with health insurance and Medicare. Partners include financial planners, employer benefit brokerages, healthcare providers, and insurance companies.
Comparison of capabilities and features
Gallagher does offer healthcare planning for a wide variety of health insurance options (Medicare, Marketplace, employer coverage, etc.), but according to advisors, there is no software involved. There's also a disclaimer on their website that states they don't "...offer every Medicare plan available in your area. Currently, we represent 7 organizations which offer over 200 products in your area."
Gallagher is not stated as “free,” but they also don’t have their prices listed anywhere. However, before Bernard Healthcare Financial Planning was acquired by Gallagher, it was known that their revenue model was based on total households working with a financial advisory firm (as listed on your ADV). This means that even if a household never uses Gallagher's healthcare planning, the financial advisor would still pay for it. In comparison, Move Health prices on an annual per-user basis. You only pay for the advisors who actually use Move Health’s tools and services, and have unlimited engagements.
Final Thoughts
While there are other healthcare planning solutions out there for financial advisors and their clients to use, they vary quite a bit in capability and cost. If you’re looking for an affordable, comprehensive, tech-enabled, human-driven healthcare planning solution that can provide healthcare planning for both Medicare and pre-65 clients, Move Health is your best option. In addition to customized HealthPlanning Analyses that go beyond basic healthcare cost estimates, Move Health’s team of licensed agents supports clients by walking through their optimal options with them and helping them enroll in their ideal plan. Plus, we make it easy for you to promote your new offering through our many free marketing resources.
Another way to think of Move Health is as a true partner, rather than just a product. Many of the other healthcare planning products mentioned in this blog are just that: products. Move Health is a partner in the sense that our healthcare planning software and team of experts become a seamless part of your service offering. We pride ourselves on having a great feedback loop so that we can scale with your business and offer a solution for the many life stages that your clients will go through as they work with you.
Explanation of features:
Medicare & ACA Marketplace: The company offers healthcare planning for both Medicare and ACA Marketplace plans.
Additional coverage types: The company offers healthcare planning for dental, vision, short-term plans, health-sharing programs, or employer plans.
Unlimited engagements for one annual cost: The company charges one annual cost per user with no limit on engagements.
Health Coverage Analysis Tool: The company offers customized (not general) analyses or reports of healthcare costs, including health insurance costs.
Holds the CMIP designation: The company has a CMIP designation.
Financial advisors provided with dedicated contact: The company ensures advisors have one or two team members they can continually get in contact with.
Client progress tracker and referral dashboard: The company offers a digital dashboard showing client case progress and referrals.
Back-office support team and plan enrollment: The company has a customer support team that can be contacted, and team members who will help clients enroll in their chosen plan.
Promotional materials for marketing: The company offers blogs, marketing collateral, and other resources for financial advisory firms.
Want to learn more about Move Health? A member of our team would be more than happy to talk with you! Click here to book a meeting.
