Healthinsurance.com: October 2020 News Roundup

Our November healthinsurance.com survey honed in on a number of timely topics amidst a busy time of year both inside and outside of the health insurance arena. Survey topics included: Health insurance plans and level of satisfaction Potential Supreme Court impacts on the Affordable Care Act (ACA) The 2021 Affordable Care Act (ACA) Open Enrollment Period The 2021 Medicare Open Enrollment Period COVID-19 and the holiday season Pulse Check of Health Insurance Plan Satisfaction Our survey uncovered that 83% of our respondents are satisfied with their current health insurance plans, while 17% are not satisfied with their plans due to costs, specifically with high monthly premiums, copays or deductibles. Others cited expensive prescription costs or their doctors being out of network as reasons they aren’t happy with their health insurance plans. We also asked respondents to name the one thing they wish they could change about their health insurance plans. Here’s what they said. 30% wanted lower monthly premiums. 26% wanted more coverage and benefits. 16% wanted lower deductibles. 11% wanted a larger or different network of doctors. 10% wanted lower copays. 7% wanted lower prescription drug costs. Consumer Insights On The Affordable Care Act (ACA) The 2021 open enrollment period for Affordable Care Act (ACA or Obamacare) plans is happening now through December 15, 2020. With this in mind, we asked survey participants about this fall enrollment period: 28% are likely to change their health insurance plans, while 22% are unsure of if they will change their plans. The remaining 50% will not make any changes during the ACA open enrollment period. Our survey also asked respondents to weigh in on ACA plan impacts in light of potential Supreme Court rulings. 76% were very concerned or somewhat concerned about the impact to their own healthcare coverage if the Supreme Court rules that the Affordable Care Act is unconstitutional. 66% of our respondents knew what it would mean to them if the Supreme Court reverses the Affordable Care Act. Shopping Around During The Medicare Open Enrollment Period Like the ACA open enrollment period, the 2021 Medicare Open Enrollment Period (also known as the Medicare Annual Enrollment Period) is underway, so our survey checked in to see if people plan to make any changes. Turns out, 42% of our respondents age 65 and up are considering changing their Medicare coverage during the Medicare Open Enrollment period. We also asked respondents under age 65 about Medicare coverage and concerns they have for their parents. 74% have encouraged their parents to increase their Medicare coverage during the Medicare Open Enrollment Period. 40% have discussed Medicare coverage options with their parents. COVID-19 Concerns Amidst The Holiday Season With the holidays quickly approaching and COVID-19 cases on the rise, we asked respondents about their holiday and shopping plans. 78% plan to support small businesses and buy local. 63% are comfortable attending in-person gatherings with friends and family. 59% plan to spend Thanksgiving with their families. 57% do not plan to shop in person on Black Friday. 50% cited COVID-19 concerns as the main reason to not visit with family during the holidays. Full November 2020 Survey Results Click here to download the full survey results. Our Survey Methodology The above survey results were gathered through a national survey of 1,000 U.S. adults on November 6-10, 2020. More Healthinsurance.com Surveys October 2020: Medicare Survey Gathers Insights on Medical Costs, Technology & More September 2020: U.S. Healthcare, 2020 Election and More August 2020: Multigenerational Perspectives on COVID-19 July 2020: Medicare Eligible Seniors Survey Findings: Technology, COVID-19, the 2020 Election and More June 2020: Healthcare Technology, Self-Care and More May 2020: Testing, Mental Health, and More April 2020: Economic Impacts and Health Insurance Trends March 2020: Telemedicine Usage During COVID-19

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)[https://medicare.healthinsurance.com/] 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. COVID-19 Updates 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

The Medicare Open Enrollment Period coupled with the 2020 Presidential Election created a prime opportunity to launch our latest healthinsurance.com survey that reached 1,000 U.S. adults over age 65. Survey topics focused on: Medicare Open Enrollment Medicare Healthcare Costs Telemedicine During COVID-19 Technology and Social Media Usage Among Seniors The 2020 Presidential Election Here are some key Medicare survey findings broken down by category. 2021 Medicare Open Enrollment The Medicare Open Enrollment period prompts Medicare beneficiaries to review their Medicare coverage on an annual basis. During the Medicare Annual Enrollment Period, Medicare beneficiaries have the option to: Change from Original Medicare to a Medicare Advantage plan. Change from one Medicare Advantage plan to another. Disenroll from a Medicare Advantage plan and go back to Original Medicare. Change from one prescription drug plan (Medicare Part D) to another. Enroll in a prescription drug plan. Cancel prescription drug coverage. With these decisions in mind, our Medicare survey uncovered that: 84% are confident that they are enrolled in the right Medicare plan. 70% have never adjusted their Medicare coverage, while 34% are not sure yet if they are going to change or adjust their Medicare coverage during open enrollment. 44% say selecting a plan that accepts their doctors is most important when choosing a Medicare plan, while 27% say selecting a Medicare plan with low monthly premiums & copays is most important. Medical Cost Concerns for Medicare Beneficiaries 82% think prescription drug prices are too high. 54% are worried about the cost of healthcare if they contracted COVID-19. Telemedicine Usage Among Medicare Beneficiaries 94% of Medicare beneficiaries hadn’t used telemedicine before COVID-19. 71% of seniors on Medicare increased their telemedicine usage during the coronavirus pandemic. 42% will continue to use telemedicine on a regular basis when the pandemic is over. Seniors Are Getting Social 52% seniors use Facebook everyday. 39% seniors have gone to a restaurant over the past month. 26% seniors have attended in-person gatherings with their families within the past month. The 2020 Presidential Election 82% say this is the most important presidential election of their lifetime. 49% say the U.S. Supreme Court vacancy makes them more concerned about the U.S. healthcare system. Full Medicare Survey Results Click here to download the full Medicare survey results. Our Medicare Survey Methodology The above Medicare survey results were gathered through a national survey of 1,000 U.S. adults over age 65 on October 1-6, 2020. The survey has a margin of sampling error of +/1 3.1 percentage points. Explore More Healthinsurance.com Surveys September 2020: U.S. Healthcare, 2020 Election and More August 2020: Multigenerational Perspectives on COVID-19 July 2020: Medicare Eligible Seniors Survey Findings: Technology, COVID-19, the 2020 Election and More June 2020: Healthcare Technology, Self-Care and More May 2020: Testing, Mental Health, and More April 2020: Economic Impacts and Health Insurance Trends March 2020: Telemedicine Usage During COVID-19