top of page

Are People Happy with their Medicare Advantage Plans?


People Happy with their Medicare Advantage Plans

Medicare Advantage enrollment has tripled over the past decade. Over 28 million people now rely on these popular private insurance plans to provide their Medicare benefits. But with so many seniors switching to Medicare Advantage, an important question arises - are people actually happy with their Medicare Advantage Plans?


Understanding Satisfaction with Healthcare Plans

When evaluating satisfaction with health plans, key factors include:

  • Quality of Care - The ability to access skilled providers and receive effective treatment and preventive care. This influences overall health outcomes.

  • Affordability - Out-of-pocket costs that fit within a person's budget without leading to financial hardship. Surprise medical bills erode satisfaction.

  • Convenience - The ease of accessing in-network providers, scheduling appointments, filling prescriptions, and managing healthcare needs. Frictionless care is desired.

  • Customer Service - The helpfulness and competency of a plan's staff in answering questions, handling requests, and resolving issues. Poor experiences diminish loyalty.

  • Supplementary Benefits - Perceived value gained from non-medical benefits such as dental, vision, hearing, transportation, meal delivery, and in-home support services.

Understanding performance across those key areas that impact costs, health, and overall experience is crucial when evaluating satisfaction with Medicare Advantage Plans.


Current Satisfaction Levels Among Medicare Advantage Plan Enrollees

Surveys consistently show Medicare Advantage Plans enjoy high satisfaction rates among their members:

  • Over 90% say their plan meets their healthcare needs

  • Over 85% rate customer service as good to excellent

  • Over 80% are happy with their out-of-pocket costs

  • Over 70% find it easy to get appointments and necessary care

Additionally, Medicare Advantage members are 3 times more likely than those with Original Medicare to rate their coverage a 9 or 10 out of 10.


This high satisfaction persists across ages, genders, incomes, health statuses, and geographic regions - speaking to the broad appeal of Medicare Advantage Plan value.


Drivers of Satisfaction with Medicare Advantage

Several key advantages that Medicare Advantage Plans offer likely contribute to the high satisfaction rates among members:


Comprehensive Benefits

Most plans include dental, vision, hearing, and prescription drug coverage along with many supplemental benefits and services - all in a single plan. This provides simplicity and savings compared to purchasing standalone policies.


Coordinated Care Programs

Case managers assist members in coordinating providers, medications, equipment, transportation, and other healthcare services. This facilitates specialized and streamlined care, especially for those managing chronic conditions.


Integrated Technology

Digital tools enable convenience through telehealth visits, chat-based customer service, mobile apps to find providers or check benefits, and member portals to access records and results. This omnichannel experience simplifies healthcare engagement.


Proactive Population Health

Analytics help Medicare Advantage Plans stratify risks across their member population and deploy programs aimed at preventing acute events that lead to poor outcomes in high-risk groups. This promotes wellbeing.


Local Flexibility

Plans can customize certain benefits to meet regional population needs and preferences. This allows plans responding to local healthcare priorities and infrastructure.


Choice in Providers

While networks are narrower, most Medicare Advantage Plans offer broad provider access with choice still across primary care providers, specialists, hospitals, and pharmacies. This facilitates care.


Affordability

Despite nearly identical premiums to Original Medicare, the average out-of-pocket costs in Medicare Advantage are approximately $2000 less per year. This stretches retirement budgets further.


The combination of richer benefits, tech-enabled convenience, customized care programs, and lower overall costs appears to drive the satisfaction most enrollees feel with their Medicare Advantage Plans.


Cons of Medicare Advantage: Evaluating Potential Drawbacks

While most enrollees enjoy Medicare Advantage Plans, concerns for some still exist around:


Network Limitations - Access to certain high demand specialists or elite healthcare centers may be restricted given narrow provider networks. Additionally, providers can join or leave a network periodically causing disruption.


Prior Authorizations - The added administrative step of getting some services pre-approved can delay care. Certain effective but expensive new treatments may not qualify without lengthy appeals. This can negatively impact outcomes.


Overage Costs - While costs are generally lower, some plans pass a higher percentage of the expenses onto members for certain services through higher coinsurance rates once the deductible is reached.


Prescription Hurdles - Drug formularies vary greatly between plans regarding covered medications and their tier level designation. This can lead to people having to switch or pay more for prescriptions.


Disenrollment Challenges - Members who wish to switch back to Original Medicare have limited opportunities to do so and may find it difficult to secure a stand-alone drug plan due to pre-existing conditions and underwriting.


While these drawbacks merit consideration for someone evaluating Medicare Advantage Plan options, strong satisfaction rates indicate most seniors perceive benefits overshadowing the risks once enrolled.


Navigating Medicare Advantage Choices

Selecting a Medicare Advantage Plan is an important healthcare decision requiring careful consideration of your individual situation:


Health Profile - Consider specialized needs driven by specific medical conditions and access needed to quality providers and facilities equipped to serve those needs.


Covered Medications - Verify all prescriptions are included in the plan's formulary and assess the expected tier-based out-of-pocket costs.


Total Cost Projections - Estimate total annual costs, encorporating monthly premiums and likely out-of-pocket expenses for medical services and prescriptions.


Network Alignment - Ensure the plan includes your existing primary doctor and key specialists you want to continue seeing along with the hospital(s) you prefer.


Supplemental Benefit Valuation - Identify which supplemental benefits matter most to you and compare plan offerings around dental, vision, hearing, etc. accordingly.


Doing so allows prospective members to determine the optimal balance between upfront premium costs, holistic coverage value, and overall convenience and satisfaction when selecting among Medicare Advantage Plan options.


As more baby boomers age into Medicare each year, Medicare Advantage stands poised to play an integral role in healthcare access and affordability for seniors through the coming decades based on the current satisfaction rates among enrollees. With prudent selection strategies focused on aligning coverage and providers to individual health needs and financial profiles, most Medicare beneficiaries can find happiness and security through Medicare Advantage Plans.


We’re Here to Help

You do not have to spend hours reading articles on the internet to get answers to your Medicare questions. Give the licensed insurance agents at Next Steps Insurance a Call at (717)-271-2326. You will get the answers you seek in a matter of minutes, with no pressure and no sales pitch. We are truly here to help.


FAQs


What is the information about Medicare Advantage Plans that a beneficiary should know?

Medicare Advantage Plans, also known as Medicare Part C, are an alternative to Original Medicare. These plans often include coverage for prescription drugs, dental, hearing, and vision care. They are offered by private health insurance companies that contract with Medicare and follow rules set by the agency. It's important to compare plans, and utilize the Medicare Plan Finder for best results, as coverage and costs can vary.


How does Original Medicare coverage compare to Medicare Advantage?

Original Medicare includes Medicare Part A, which covers hospital stays, and Medicare Part B, which covers doctor visits and outpatient care. Medicare Part D is a separate plan covering prescription drugs. On the other hand, Medicare Advantage Plans can often include all these parts in one plan. Moreover, they can provide additional benefits not covered by Original Medicare, like vision and dental care, wellness programs and other services.


How can a beneficiary enroll in Medicare Advantage?

A beneficiary can enroll in a Medicare Advantage Plan during the Medicare Open Enrollment period, which generally starts from October 15 to December 7 each year. You can enroll through the State Health Insurance Assistance Program or private insurers like Blue Cross Blue Shield who offer those plans. Keep in mind you must be enrolled in Medicare Part A and B to join a Medicare Advantage Plan.


What are some of the pros and cons of Medicare Advantage?

One advantage is that Medicare Advantage Plans often bundle medical, hospital and prescription drug coverage in one plan, and they can offer additional benefits not covered by Original Medicare. However, these plans may have a restricted network of healthcare providers. Another con is that costs can be unpredictable, as you may pay different amounts for different types of care and services.


Are Medicare Advantage enrolleees generally happy with their plans?

Studies have shown that approximately half of all Medicare Advantage beneficiaries report being satisfied with their coverage. Satisfaction levels can vary based on individual needs and expectations, the specific plan, and the care received.


How do Medicare Advantage beneficiaries differ from traditional Medicare beneficiaries?

Medicare Advantage beneficiaries may have more comprehensive coverage, as these plans often cover services not included in traditional Medicare. However, they may also have more restrictions, such as needing to use a specified network of health care providers. Conversely, traditional Medicare beneficiaries have the flexibility to see any doctor or provider that accepts Medicare, but may have higher out-of-pocket costs without a supplemental Medigap Plan.


What are the Medicare options available for a beneficiary?

Beneficiaries have two main options: Traditional Medicare or Medicare Advantage. Traditional Medicare includes Part A (hospital insurance) and Part B (medical insurance). Part D (prescription drug coverage) and a Medigap Plan can be added to help cover additional costs. Medicare Advantage, or Part C, combines parts A, B, and usually D, with potential added benefits like dental and vision care.


How many Medicare Advantage enrollees report being satisfied with their Medicare?

Studies have shown that approximately half of all Medicare Advantage enrollees report being satisfied with their Medicare. However, it's important to note that satisfaction can vary greatly depending on individual health needs and the specific plan one is enrolled in.


Is there a difference in enrolling in Medicare to Advantage?

Yes, enrolling in Medicare Advantage is different from enrolling in Original Medicare. While Original Medicare is administered by the federal government, Medicare Advantage Plans are offered by private insurance companies which have contracts with the government. You must already be enrolled in Medicare Part A and B to join a Medicare Advantage Plan.


Does every doctor or hospital accept Medicare Advantage Plans?

Not all health providers accept Medicare Advantage Plans. These plans may use a network of doctors, hospitals and other providers who agree to accept payment at negotiated amounts. Therefore, it's important to check if your preferred health care providers are part of the plan's network before enrolling in a Medicare Advantage Plan.

13 views0 comments
bottom of page