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

[Duaine]

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
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[somarco]

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 . . . LOL
Agents are paid to churn & poach vs service their existing client base . . .

 

[MedicareWAA]

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 . . .

Or … wait for it … there’s no good reason for most people to shop and/or change their plan.

 

[InsuranceGuy29]

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 . . .

I work Medicare Advantage and Medigap. Aside from this year (due to the government screwing with the Medicare Advantage and PDP program, IMMENSELY, and causing chaos), there really isn't a need or desire for most people to move plans.

They keep prescriptions and networks very stable on Medicare Advantage, because they don't want to lose business.

PPO's were also a game-changer, as they allow people to keep their plan (if they like it), even if a specialist or PCP should happen to leave the network.

People make it sound like there's these incredible monumental changes every single year, and there just isn't. In the old days, when there were just HMO's, and prescriptions fluctuated much more, then yes. It's not like that anymore.

Again, this year will be the exception (in SOME markets, not mine), due to so much government meddling, but it's not normally like this at all.

 

[Russ]

That’s why they need their agent to help them. Thats our jobs.

 

[MedicareWAA]

I work Medicare Advantage and Medigap. Aside from this year (due to the government screwing with the Medicare Advantage and PDP program, IMMENSELY, and causing chaos), there really isn't a need or desire for most people to move plans. They keep prescriptions and networks very stable on Medicare Advantage, because they don't want to lose business. PPO's were also a game-changer, as they allow people to keep their plan (if they like it), even if a specialist or PCP should happen to leave the network. People make it sound like there's these incredible monumental changes every single year, and there just isn't.

Correct. And even in 2025, there are MANY markets with MANY plans that are still very good. Just because your OTC card was cut $30 doesn’t mean your plan is trash. It’s just an excuse for a salesperson to pitch you something else.

 

[Russ]

Correct. And even in 2025, there are MANY markets with MANY plans that are still very good. Just because your OTC card was cut $30 doesn’t mean your plan is trash. It’s just an excuse for a salesperson to pitch you something else.

I’ve had people tell me losing the OTC benefit isn’t that big of a deal. UHC and Humana are the best plans in my area. Not a big deal in needing to change.

The PDP is a different story. Not really worth the time. Only 3 companies that pay commissions where I live and work.

 

[Newby]

SHOCKING NEWS! Less seniors on original Medicare shopped their plans during the 2021 annual enrollment season than seniors on Part C did!

Don’t you think part of that was because they’re not affected by the annual enrollment season? They can shop their plan all year long.