With the Medicare open enrollment interval set to start October 15, a brand new KFF evaluation finds that 7 in 10 beneficiaries (71%) say that they didn’t evaluate their protection choices throughout a current open enrollment season. Twenty-nine % mentioned they did evaluate Medicare plans.
However not buying round can have a huge impact on enrollees’ protection and prices. The Facilities for Medicare & Medicaid Providers (CMS) recommends that beneficiaries evaluation and evaluate Medicare plans annually.
The brand new evaluation examines the share of Medicare beneficiaries who in contrast plans through the 2018 open enrollment interval for protection in 2019, the share who in contrast drug protection in Medicare Benefit and stand-alone drug plans, and variation by demographic traits, primarily based on an evaluation of the 2019 Medicare Present Beneficiary Survey (the newest yr accessible).
Different key findings embody:
• The share of beneficiaries who mentioned they didn’t evaluate their choices was increased amongst beneficiaries who’re Black (74%) and Hispanic (79%), ages 85 and older (84%), with low incomes (85%), and people enrolled in each Medicare and Medicaid (87%).
• Relating to Half D drug protection, 81 % of Medicare Benefit drug plan enrollees and 72 % of Medicare stand-alone drug plan enrollees mentioned they didn’t evaluate drug protection provided by their present plan to different plans.
• Practically half (47%) of all beneficiaries with Medicare mentioned they’d by no means visited the official Medicare web site for info, 53 % reported they’d by no means referred to as the 1-800-MEDICARE helpline and 31 % mentioned they didn’t learn the Medicare & You handbook.
Medicare beneficiaries with conventional Medicare can evaluate and swap Medicare Half D stand-alone prescription drug plans or be a part of a Medicare Benefit plan, the privately run various to conventional Medicare. On the identical time, enrollees in Medicare Benefit can evaluate and swap Medicare Benefit plans or elect protection underneath conventional Medicare with or with no stand-alone drug plan.
Protection and prices differ broadly amongst each Medicare Benefit plans and Half D prescription drug plans. Plans can change from one yr to the subsequent, as can beneficiaries’ well being care wants, which might result in sudden and avoidable prices, and disruptions in take care of beneficiaries who keep put and don’t not less than evaluation their choices yearly.
For different Medicare-related knowledge and analyses, together with our Medicare Open Enrollment FAQs and our up to date Overview of the Medicare Half D Prescription Drug Profit, go to kff.org. The Medicare open enrollment interval runs by means of December 7.