I am SO SHOCKED..!! Nearly 7 in 10 Medicare Beneficiaries Did Not Compare Plans During Medicare’s Open Enrollment Period

Duaine

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Key Takeaways​

  • Overall, nearly 7 in 10 (69%) Medicare beneficiaries did not compare their own source of Medicare coverage with other Medicare options offered in their area during the 2021 open enrollment period, while 31% did so. A larger share of beneficiaries in traditional Medicare than in Medicare Advantage did not compare their own source of coverage with other plans (73% vs 65%).
  • Among Medicare Advantage enrollees, more than 4 in 10 (43%) did not review their current plan’s coverage to check for potential changes in their plan’s premiums or other out-of-pocket costs, while the remainder (57%) did so. A similar share (44%) did not review their current plan for potential changes in the kinds of treatments, drugs, and services that would be covered in the following year.
  • Most enrollees in Medicare Advantage prescription drug plans (82%) and stand-alone prescription drug plan (PDPs) (69%) did not compare their plan’s drug coverage with drug coverage offered by other plans in their area.
  • Medicare’s official information resources are used by half or fewer of Medicare beneficiaries, with just a quarter (26%) reporting calling the toll-free number, 4 in 10 (42%) reporting visiting the Medicare website, and slightly more than half (54%) reporting reading some or parts of the Medicare & You handbook.
  • [EXTERNAL LINK] - Nearly 7 in 10 Medicare Beneficiaries Did Not Compare Plans During Medicare’s Open Enrollment Period | KFF
  • WereWolf_old_man_and_woman_shocked_faces_0f803d74-d5eb-4482-bf7b-586f6eabda64.jpg
 
Because . . . .

They don't understand what they have . . .
They don't know where to get easy to understand information . . .
The volume of information is overwhelming . . .
When they seek help they get a sales pitch that does not answer their questions . . .
Agents can't/won't explain the nuances . . .
Agents prefer to talk about getting more free stuff for $0 . . .
Agents can't explain how managed care works . . .
Agents are woefully underpaid . . .
Agents are paid to churn & poach vs service their existing client base . . .
 
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