Medicare sustainability is a top-three
voting issue for 84% of Medicare beneficiaries, according to
eHealth original research
AUSTIN,
Texas, Oct. 8, 2024 /PRNewswire/ -- With
Medicare's Annual Enrollment Period starting next week, new
research from eHealth, Inc. (NASDAQ: EHTH) (eHealth.com), a leading
private online health insurance marketplace, finds that
beneficiaries are entering what is expected to be one of the most
disruptive Annual Enrollment Periods in years fearful of cost
increases and changes to their benefits.
In a survey of more than 1,200 Medicare beneficiaries, eHealth
identified enrollees' top-three fears:
- 73% are worried about their out-of-pocket costs
- 53% are worried about changes to their Medicare plan
benefits
- 50% are worried about their prescription drug
coverage
"Many Medicare Advantage and Part D plan enrollees could
see significant changes to out-of-pocket costs and core and
supplemental benefits in 2025," said eHealth CEO Fran Soistman. "As our report
shows, beneficiaries are worried about the future, not just
their ability to pay for the rising cost of their
healthcare, but also for the future of Medicare in
general. Further, our research shows beneficiaries are
overwhelmingly happy with their Medicare coverage and
want to see that level of coverage continue without dramatic
premium and out-of-pocket cost increases."
Additional highlights from the report:
- Medicare sustainability is on voters' minds: 84% of
beneficiaries say that ensuring the future of the Medicare program
is one of their top-three voting priorities in this year's
presidential election.
- Beneficiaries are satisfied with their coverage, but few are
informed about changes coming in 2025: 92% of Medicare
Advantage enrollees and 95% of Medicare Part D plan enrollees are
satisfied with their current plans but only three in 10 have read
their Annual Notice of Change letter.
- Beneficiaries want an Annual Enrollment Period (AEP)
extension: Given the distraction of the presidential election
and the late Thanksgiving holiday, 75% of beneficiaries would like
to see AEP extended this year.
Mr. Soistman continued: "Earlier this year, eHealth
encouraged CMS to consider an extension of this year's
Medicare Annual Enrollment Period (AEP). This is a year of great
change and with change comes confusion and stress. Several millions
of Medicare beneficiaries may be looking for new 2025 plans this
AEP. Between regulatory changes, plan and market exits,
out-of-pocket cost increases, core and supplemental benefits
reductions, and a packed calendar, they're going to need more time
to review their options and get the personal assistance that only
licensed agents can offer."
Read the full report.
Medicare's AEP for 2025 coverage is scheduled to run from
October 15 through December 7, 2024.
eHealth offers the following tips for beneficiaries:
- Review your current Medicare coverage: Find out if your
costs or benefits are changing in 2025. Will your current plan
still match your needs and budget?
- Compare your coverage options: Review 2025 Medicare plan
options available in your local area, comparing costs, benefits,
and provider networks.
- Take advantage of resources available to
you: Online tools like those offered at eHealth.com can
show you which plans will cover your prescriptions at an affordable
price, and which are accepted by your preferred doctors.
- Get help from a licensed insurance agent: A licensed
insurance agent can offer personal help and advice; it doesn't cost
anything extra to work with an agent and there is no obligation to
enroll.
- Don't procrastinate: Act early to avoid unnecessary
stress and avoid long hold times to speak with a licensed insurance
agent.
eHealth's new report is based on a voluntary survey of more than
1,200 Medicare beneficiaries who purchased Medicare Advantage,
Medicare Part D, or Medicare Supplement plans through eHealth, with
coverage still in effect at the time of the survey. For additional
methodology information, please refer to the full 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.
For more information about eHealth, visit ehealth.com or follow
us on LinkedIn, Facebook, Instagram, and X. Open positions can be
found on our career page.
Media inquiries: pr@ehealth.com
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SOURCE eHealth, Inc.