New Study: Nine out of Ten Seniors Value their Medicare Supplemental Plan
Enrollees agree that these plans offer improved financial security and access to high quality care
WASHINGTON, D.C. – Seniors continue to be overwhelmingly satisfied with their Medicare supplemental insurance coverage. According to a study by Global Strategy Group on behalf of America’s Health Insurance Plans (AHIP), more than nine out of ten of enrollees value their plan because it protects them against unanticipated costs. Further, 95 percent say these plans allow them to see the doctors and specialists they know and trust.
Medicare Supplement plans offer coverage for out-of-pocket costs that are not covered by traditional Medicare, such as deductibles, coinsurance, and copayments. The study asked seniors about the value, benefits, customer service, and overall quality of care received through these plans.
Additional key findings include:
- Seniors overwhelmingly express high levels of satisfaction with the process to enroll and renew a policy (92 percent), the services and benefits covered (91 percent), the communications received from providers (83 percent), and the value received for the monthly premium (83 percent).
- More than 90 percent agree their Medicare supplemental plan allows them to receive high quality care; protects them against unexpected, unpredictable medical costs; and the vast majority believe their plan makes it easier to handle medical bills and paperwork.
- More than 90 percent of respondents expressed concerns about potentially losing their plan or having to pay for potential increases in cost-sharing – reinforcing the value these plans continue to bring to American seniors.
Around 13 million seniors rely on Medicare supplemental insurance, and more than one third of those with a traditional Medicare plan choose to enroll in a Medicare supplemental plan because they offer enhanced protection, consistent coverage, and access to high quality care.
“Seniors should be able to get affordable coverage and care that protects their both their health and financial security,” said Tom Meyers, AHIP Vice President of Product Policy. “We continue to see this overwhelming satisfaction with Medicare supplement plans because they offer peace of mind.”
The complete findings from the Global Strategy Group study including feedback from enrollees, can be found here.