With the Medicare Annual Enrollment Period (AEP) beginning October 15 each year, we made it a priority to get Medicare consumers ready with what they need to know, what actions they can take, and 2021 changes to Medicare.
But first, we had to get a sense of how beneficiaries were feeling about their current Medicare plans, including healthcare costs, and how it impacts their plans for Medicare Open Enrollment.
October Survey: An Eye on Medicare Open Enrollment
Our healthinsurance.com Medicare survey revealed that 84% of our Medicare eligible respondents feel good about their current Medicare plans.
Meanwhile, 34% of Medicare eligible seniors are not sure if they will change their Medicare plans during AEP, while 15% are likely to change their plan during AEP.
Check out our Medicare survey recap to see more Medicare highlights and trends.
News Spotlight: Preparing for Medicare Open Enrollment & Shopping for Medicare Plans
Our October Newsmax guest column prepped those “uncertain” Medicare beneficiaries about things to think about if they’re unsure if they should update their coverage or change plans during the Medicare Open Enrollment period.
5 questions Medicare beneficiaries can ask themselves include:
Has my Medicare plan changed during 2020?
Are my doctors still in-network?
Has my health changed in any way?
Have my prescriptions changed?
Do I plan to take advantage of healthcare technology, like telehealth, in 2021?
And now more than ever, question #5 is extremely relevant. In light of COVID-19, Medicare seniors are embrancing virtual healthcare benefits like telemedicine, ordering prescriptions online, and using wearables to monitor their health.
Our 2020 Medicare survey also found that 78% of Medicare eligible respondents research their Medicare options online before making a final decision.
That’s why our Fox News piece honed in on how to get started on evaluating your Medicare options.
3 tips for researching Medicare plans include:
Visiting Medicare.gov for the most up-to-date information
Using free Medicare plan comparison sites to find Medicare plans in your area. These sites often generate free Medicare quotes with no obligation to enroll in a plan.
Working with a licensed insurance agent to make sure you’re enrolled in the right plan for your needs.
Our healthinsurance.com surveys also consistently monitor COVID-19 trends and concerns.
At the beginning of the pandemic, many Americans had to adjust to working from home - whether they needed to set up new home offices or find quiet spots to take calls while the kids play. Initially, many were anxious about making this adjustment, but that quickly changed.
According to another recent healthinsurance.com survey, 49% of respondents felt that working from home is better for their overall health and wellness. Even more compelling: 40% would take a pay cut to continue working from home.
The coronavirus pandemic also caused health insurance companies to adjust their benefits and coverage to include COVID-19 testing. But unfortunately, the pandemic also led to many people losing their jobs, and ultimately, their health insurance too.
As a result, our Forbes article highlighted the two topics: our renowned appreciation for working from home and valuing our employer-sponsored health insurance coverage.
Relevant Links & Resources
Press Release: Tech-savvy seniors gear up for Medicare Annual Enrollment
October 2020 Survey: Medicare Survey Gathers Insights on Medical Costs, Technology & More
2020 Medicare Open Enrollment Tips: Consumer Guide to the Medicare Annual Enrollment Period
Looking Ahead: Summary of 2021 Changes to Medicare