Significant Medicare Plan Changes Expected, But Many Beneficiaries May Not Fully Grasp Their Impact
"Few Medicare beneficiaries carefully review their Annual Notice of Change letters in September, and few switch plans when their needs and benefits change," said eHealth CEO
eHealth's new report, based on a poll of more than 500 Medicare beneficiaries, illustrates why many beneficiaries fail to review their options during AEP, only to discover after it is too late that their plans may no longer meet their medical and financial needs:
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Few carefully read mail from their insurers: Only 48% of Medicare beneficiaries say they carefully read the mail they receive from their insurance company.
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Most find it challenging to understand their "Annual Notice of Change" letter: Only 36% of Medicare Advantage and Part D plan enrollees find their annual notice of change letter readily understandable.
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Too few understand how much coverage can differ from one plan to another: 51% of Medicare beneficiaries believe – incorrectly – that benefits under most Medicare plans are "basically the same."
- Few make coverage changes: 81% of beneficiaries have been enrolled in their current Medicare plan for two years or more, while 51% have never made a change to their Medicare coverage.
"Changes to coverage can have a profound impact on beneficiaries' quality of life and financial wellbeing,"
"It is important for beneficiaries to understand they have options when faced with significant changes to their benefits,"
Read the full report.
eHealth's latest original research is based on a survey of more than 500 Medicare beneficiaries drawn from the general population. The survey was conducted through a third-party survey tool in July of 2024. Additional methodology information can be found in the report.
About eHealth (NASDAQ: EHTH)
We're Matchmakers. For over 25 years, eHealth has helped millions of Americans find the healthcare coverage that fits their needs at a price they can afford. As a leading independent licensed insurance agency and advisor, eHealth offers access to over 180 health insurers, including national and regional companies.
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Media inquiries: pr@ehealth.com
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