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2022 Medicare Annual Enrollment Period (AEP) Survey

October 14, 2021

2022 Medicare Annual Enrollment Period (AEP) Survey

As the Medicare Annual Enrollment Period (AEP) opens up on October 15, our latest HealthInsurance.com Medicare survey indicates that the majority of our Medicare-eligible participants make it a point to review their current Medicare coverage every year.

The survey reached 1,000 Medicare beneficiaries ages 65 and older, asking them about their perceptions of their current Medicare plans, healthcare costs, technology, social media and retirement.

Medicare AEP Survey Findings

Key Finding #1: 63% review their Medicare coverage on an annual basis.

Still, only 22% plan to make a change to their current Medicare coverage during the 2022 Medicare Annual Enrollment Period. Of this percentage, 42% want to change plans because they’re looking for more coverage and benefits, which may be offered through a private plan like a Medicare Advantage (Part C) plan.

Other highlights:

  • 33% are considering switching from Original Medicare to Medicare Advantage.
  • 33% are considering changing from one Medicare Advantage plan to another.
  • 20% are considering changing their Prescription Drug Plans (Medicare Part D).

Medicare Fact: Original Medicare (Parts A and B) provides hospital and medical coverage to Medicare beneficiaries. Meanwhile, a Medicare Advantage plan can be an alternative to Original Medicare. Medicare Advantage plans may be appealing because many offer extra benefits (dental, vision, hearing), while giving you an annual cap on your spending.

It’s no secret for those aging into Medicare that the various Medicare plans can be overwhelming and confusing to Medicare beneficiaries. But our Medicare survey honed in on what - exactly - is more confusing to our participants.

Key Finding #2: 41% say understanding benefits is the most challenging part of finding the right Medicare plan for their needs.

Other highlights:

  • 26% feel there are too many Medicare plans to understand and choose from.
  • 17% say understanding the plan costs can be confusing.
  • 16% worry about scams or misleading information.

Researching and Shopping For Medicare Plans

We also asked our Medicare-eligible survey participants about who they turn to as a trusted source to research their Medicare plan options.

Key Finding #1: 58% research Medicare plans online to understand their options.

Meanwhile, 37% call their licensed insurance agents for guidance, and 22% seek out a family member or friend for Medicare advice.

Key Finding #2: 62% shop for Medicare plans online.

Whether it’s insurance company sites, government websites, or online marketplaces, the majority of our survey respondents also turn to the internet when shopping for Medicare plans.

Full Survey Results

View the full Medicare survey results.

Survey Methodology

The above survey results were gathered through a national survey of 1,000 U.S. adults ages 65 and older from September 13-16, 2021. Certain quotas were applied, and the sample was lightly weighted by geography, gender, race, education, and political party to reasonably reflect the 65+ population. (Margin of Sampling Error: +/- 3.1 percentage points)

More 2021 HealthInsurance.com Surveys

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