Survey of over 5,000 Medicare beneficiaries
found 76% intend to review and potentially change their coverage
this year
47% of beneficiaries began seeing new
doctors this year while 41% began using new prescription
drugs
87% are worried about the impact of
inflation on their personal health care costs
SANTA
CLARA, Calif., Oct. 5, 2023
/PRNewswire/ -- A lot can change in a year, and the best health
plan for your needs last January will not necessarily be the best
one next January. New original research from eHealth, Inc. (Nasdaq:
EHTH) (eHealth.com), a leading online private health insurance
marketplace, sheds light on the factors that drive many to
reconsider their coverage options during Medicare's Annual
Enrollment Period (AEP), which begins on October 15 and runs through December 7, 2023.
In a survey of over 5,000 Medicare beneficiaries, eHealth
found that 76% intend to review their coverage choices this AEP.
Among Medicare Advantage enrollees, 50% have been with their
current plan for two years or longer. Among Part D prescription
drug plan enrollees, that figure is 64%.
Changes in their medical needs and personal finances suggest
many consumers may need to find a new plan better suited to their
circumstances. Nearly half (47%) began seeing new doctors in the
past year, while 41% began using at least one new prescription
drug. Four in 10 (41%) say their personal finances have changed in
the past twelve months.
Additional highlights from the report:
- 87% of respondents are worried about the impact of inflation on
their health care costs.
- Beneficiaries are twice as likely to think the way AEP works
should change (32%) than to think it should stay as it is
(16%).
- Among those who feel AEP should change, 62% support an Annual
Enrollment Period timed to coincide with their birth month, rather
than a single 8-week span intended to serve the needs of all 65+
million beneficiaries.
eHealth also found that Medicare beneficiaries who use eHealth
to review their options and enroll in a new plan are more informed
about AEP and more confident they can find a plan suited to their
needs:
- 72% of eHealth customers know when Medicare's Annual Enrollment
Period occurs, compared to 47% of Medicare beneficiaries in the
general population.
- 55% of eHealth customers feel "very confident" they can find
the right Medicare plan for their needs, compared to 34% of
Medicare beneficiaries in the general population.
eHealth's original research is based on a voluntary survey of
more than 5,500 Medicare beneficiaries who purchased their current
plan through eHealth. An additional survey of more than 250
Medicare beneficiaries drawn from the general public was also
conducted for the purposes of comparison. Refer to the methodology
note at the end of the report for more details.
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. Consumers can visit our health insurance marketplace at
ehealth.com, or call us to speak with a licensed insurance agent at
1-833-964-1202. As a leading independent licensed insurance agency
and advisor, eHealth offers access to over 180 health insurers,
including national and regional companies.
For more information, visit ehealth.com or follow us on
LinkedIn, Facebook, Instagram, and X. Open positions can be
found on our career page.
Media inquiries, please contact: pr@ehealth.com
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SOURCE eHealth, Inc.