A study from eHealth shows that 88% of people enrolled in Medicare Advantage plans are satisfied with their coverage and only 6% were dissatisfied. Nearly the same percentage of 86% said that they would recommend a Medicare Advantage plan to a family member or a friend and only 3% said they would not.
Medicare Advantage plans, which are also known as Medicare Part C, combines Original Medicare (Part A and Part B covering hospitalizations and outpatient care) with other benefits, including Part D prescription drug coverage and extras such as dental, vision, hearing, and fitness benefits.
Almost half (46%) of the study participants responded that they would rather have a Medicare Advantage so that all their Medicare benefits are all in one plan that included coverage of preferred doctors, hospitals, pharmacies, prescription drug coverage at an affordable monthly premium.
However, some of the motivations for people enrolling in a Medicare Advantage plan were also the main reasons why the minority of respondents reported to be dissatisfied with a Medicare Advantage plan. 29% of dissatisfied respondents blamed their dissatisfaction on lack of coverage for the preferred doctors, hospitals, or pharmacies, as well as lack of prescription coverage.
The survey also found one of the main reasons why Medicare Advantage plans were so favorable was because of price sensitivity among the respondents. Nearly half (48%) said they could not afford to pay any monthly premiums while another 25% said they would only be able to pay a monthly premium of less than $50.
These findings help explain why Medicare Advantage plans are growing in popularity, with enrollment increasing by more than double in the past ten years.
On the other hand, some reports suggest that Medicare Advantage plans are not as promising as it may seem. A federal report released in April 2022 suggested that Medicare Advantage plans may be delaying or denying medically necessary care. A review of denied claims shows that Medicare Advantage plans were adding criteria that are not found in the Medicare rules and requesting additional documents that are unnecessary. This creates undue burdens on patients to receive needed care.
Overall, the eHealth results show how Medicare Advantage plans are a good option and reflect well based on the participants’ responses.
The best way to figure out which plan fits your needs is through speaking with one of our caring and knowledgeable licensed agents who are here to help you. Project Medicare will always be a source of information to thoroughly explain your health insurance plan and our support does not stop once you’re covered. All clients continue to have access to our team of advisors. Call us at 212-417-0441! Contact us today >>