The two most commonly cited reasons for changing Medicare Advantage plans are lower premiums and better prescription drug coverage
SANTA CLARA, Calif., Feb. 10, 2020 /PRNewswire/ -- According to a survey of Medicare Advantage enrollees released today by eHealth, Inc. (NASDAQ: EHTH) (eHealth.com), 40% of women had changed from one Medicare Advantage plan to another, compared to 33% of men. eHealth's survey also found that 40% of those with incomes below $25,000 had changed plans, compared to 29% of those with incomes over $100,000.
eHealth's findings are being published during the January-March open enrollment period when Medicare Advantage enrollees who are unsatisfied with their coverage may change from one Medicare Advantage plan to another or disenroll and return to Original Medicare (Parts A and B).
Additional highlights from eHealth's survey:
- Lower premiums and better prescription drug coverage drive changes: Among those who had changed plans in the past, the top two reasons cited were lower premiums (35%) and better prescription drug coverage (28%).
- Septuagenarians are more likely to switch plans: 49% of respondents age 71 to 79 had changed Medicare Advantage plans at least once, compared to 28% of those age 65 to 70.
- Growing awareness: More than half (56%) of respondents were aware of the 2020 Medicare Advantage open enrollment period, compared to 49% last year.
- Few intend to make coverage changes: 5% of respondents intend change their Medicare Advantage coverage during open enrollment; 84% are satisfied with their coverage.
eHealth's findings are based on a voluntary survey of consumers who enrolled in Medicare Advantage plans purchased from eHealth. The survey was conducted in January 2020 and a total of 1,086 responses were received.
Read the full report.
eHealth, Inc. (NASDAQ: EHTH) owns eHealth.com, a leading private online health insurance exchange where individuals, families and small businesses can compare health insurance products from brand-name insurers side by side and purchase and enroll in coverage online and over the phone. eHealth offers thousands of individual, family and small business health plans underwritten by many of the nation's leading health insurance companies. eHealth (through its subsidiaries) is licensed to sell health insurance in all 50 states and the District of Columbia. eHealth also offers educational resources, exceptional telephonic support, and powerful online and pharmacy-based tools to help Medicare beneficiaries navigate Medicare health insurance options, choose the right plan and enroll in select plans online or over the phone through Medicare.com (www.Medicare.com), eHealthMedicare.com (www.eHealthMedicare.com), GoMedigap (www.goMedigap.com) and PlanPrescriber.com (www.PlanPrescriber.com).
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DMA Communications for eHealth, Inc.
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SOURCE eHealth, Inc.