Newtown Square, PA -- (SBWIRE) -- 07/28/2017 -- PrescribeWellness partnered with Propeller Insights to conduct a survey of 1,000 American adults aged 45 and up about their feelings on health care choices and when they chose their plans as they approached 65.
According to the data released by the survey it appears that 48 percent of Americans tend to select their senior health care plan before they turn 65 and 29 percent wait until the actual birthday. Those that wait until after their birthday represent 8 percent of Americans and another 14 percent wait until they receive a reminder to enroll.
"Another interesting finding of the survey showed men prepare more than women for choosing their health care policies. Thirty-two percent of women did not research health care options, while 26 percent of men did," said Clelland Green, RHU, CEO benepath.com. "And the top method chosen for most searching for information is to first research Medicare [and] then find what secondary coverage is needed."
Once beneficiaries knew what they wanted and what matched their budgets, they broadened their search to include researching Medicare and other senior HMOs to help them make decisions (19 percent); consulted with friends already on Medicare (18 percent; and consulted with an insurance agent or medical professional (10 percent).
"According to the other data gathered by this survey, it appears that more than half of Americans (56 percent) were planning to choose Medicare or choosing Medicare over an HMO. One quarter, or 23 percent had not chosen what they wanted and/or were not planning to choose either. There were also 17 percent of those surveyed who knew nothing about HMOs or Medicare," Green added.
Americans agree that the most confusing thing about choosing a health care plan when they turn 65 is deciding which plan is the right one (49 percent). Other factors that caused confusion for those about to apply for Medicare included, trying to decide between a senior HMO and Medicare (25 percent); having to source a new health care provider for a new plan (24 percent); paying a larger co-pay for prescription drugs (20 percent) and having to find a new pharmacy for medication refills (12 percent).
The other interesting information that came to light as a result of this survey was that most Americans actually know a great deal about Part D plans. Up to 90 percent of those that participated in the survey indicated that it was important to have a personalized plan and 69 percent indicated that they knew they needed Part D.
"Although choosing the right Medicare plan and Medigap plans can be confusing, it is easy to sort it out by contacting Medicare directly or reach out and speak to a knowledgeable health insurance broker who specializes in selling Medicare. It's what they're trained to do and they can make the process so much easier," said Green.