Do You Know Enough About Medicare? Fill Those Knowledge Gaps As Open Enrollment Begins!
The open enrollment period for Medicare starts this month, and this is the time of year when we get a lot of questions from people who feel uncertain about new options and what each plan can do for them.
A new study reveals that seniors’ knowledge about Medicare may be even more limited than everyone thought. And that’s a problem because knowledge gaps can keep people from making the best choices for their health as they age.
The report from Sage Growth Partners, entitled “Hidden Crisis: The Medicare Enrollment Maze,” reveals that most adults 64 and older find Medicare confusing. Moreover, they often lack the support they need to get information to find the right plan. Just 31% of respondents say they feel they can make “effective” decisions related to plan selection.
That is what we’re here for at Go Comprehensive. We educate you about Medicare options and help you make decisions based on your unique needs. Seniors are a vibrant and diverse group. What works for one person may not work for another, so we tailor our guidance to the individual client, and we also promote the value of learning. The best thing you can do is gain education to make the right choices.
What Information Gaps Do Seniors Have About Medicare?
Here are some of the study’s most interesting findings:
Shockingly, just one in five Medicare-eligible seniors say they have a good understanding of Original Medicare, the study found. Comprehension of Medicare Advantage isn’t much better—31% say they have a good grasp of it.
Almost two-thirds report feeling “overwhelmed” by Medicare advertising, and little wonder. This time of year, you see a lot of ads online and on TV that claim to have your best interests at heart. The truth is, you can’t always trust what you see from advertising, so it’s wise to pull back a bit and think about what you really need to know vs. what you’re seeing in advertisements. Some of it may not even be relevant to your situation.
Probably the most alarming statistic is that more than half of respondents stay with their current Medicare plan because it’s easier. They do this instead of reviewing the new options and finding one that perhaps could meet their evolving needs better than the one they already have.
This means older adults may not be getting the most cost-effective option. Their confusion and uncertainty could cost them money, and it might stop them from getting a plan that speaks better to their medical priorities.
Making Better Choices
Luckily, if you are eligible for Medicare, you can get answers to help you make better decisions. Contact Jay to discuss Medicare choices available during open enrollment, which runs from October 15 to December 7. He can answer questions about how to find the right plan, including addressing concerns like:
Using a different pharmacy.
No one should feel as though Medicare is too confusing. Let Jay help you navigate the plans.