Insights Into 2021 Medicare Shopping Trends

United Medicare Advisors provides independent advice to help people select the best Medicare insurance for their needs. Years of expertise enable us to match Medicare-eligible individuals with the appropriate coverage for their lifestyle and budget.

Once again, Medicare’s Annual Enrollment Period (AEP) for 2021 ended on December 7. Many people are not aware of the numerous advantages that Medicare Advantage and Medicare Supplement plans may provide. We hope the tips below help you feel more at ease when shopping for your Medicare coverage. Here’s what we learned from this historic year.

Purchasing Habits

An increasing percentage of newly-eligible people are enrolling for Medicare coverage. In 2021 alone, over 3.1 million people enrolled in Medicare for the first time. Medicare expects to gain 1.5 million additional participants each year by the end of 2029.

Individuals retiring at 65 are one factor in increasing involvement. From 2020 to 2021, the percentage of 65-year-old retirees climbed from 10% to 17%. More people are retiring at a younger age than in past years, rather than waiting.

The Top Ways To Shop For Medicare

Many Medicare consumers prefer to work with an expert to help them go through their coverage possibilities. Since there are several different Medicare plans to pick from, many people struggle to choose the correct one by themselves. Participants feel more confident making informed decisions when a professional explains their options in simple terms.

Following the pandemic, in-person conversations between advisers and Medicare recipients will become feasible again. Telephone consultations, on the other hand, remain immensely popular. To locate an agent, most people seek referrals from friends or relatives.

When customers believe they know what they want, 82% are still willing to hear about different Medicare plan possibilities. According to our research, the participants who chose Original Medicare were unsure about their alternative coverage options.

TIP: You can better grasp your coverage possibilities by visiting United Medicare Advisors’ blog and Medicare Resource pages.

How to Choose a Path

Among the most overwhelming aspects of shopping for Medicare is deciding on the proper protection. Each path caters to a particular set of lifestyle criteria. Combining medical and drug coverage in one plan is the deciding factor for some people. Others need coverage for international travel, expensive prescriptions, or rewards for healthy behaviors. That’s why there is no one-size-fits-all option.

Many people lean toward a Medicare Supplement plan because of a few common reasons. A major consideration is the provider networks. Medicare Supplement plans have no network restrictions. You can visit any health care provider that accepts Medicare with a Medicare Supplement policy. This is especially attractive for people who wish to travel often, or perhaps winter in a warm state. With no networks to tie them down, Medicare Supplement beneficiaries have flexibility in their travel plans.

Another attractive feature is the ability to avoid surprise health care bills altogether. The security of knowing that no matter what happens, your doctor and hospital expenses are covered for the rest of your life? It’s hard to say no to that!

Other advantages of a Medicare Supplement plan include guaranteed coverage that does not change over time. Prescription drugs (through Part D) and other auxiliary coverages are also available for additional fees.

Why Choose a Medicare Supplement Plan?

Compared to those who choose a private Medicare plan, those who choose Original Medicare only are nearly twice as likely to feel "not at all comfortable" with their coverage. Medicare Supplement helps ease those fears by providing protection against many of the “unknowns”.

The flexibility to select a doctor or hospital and the desire to have all medical expenses covered by insurance were cited as the top reasons for choosing Medicare Supplement. Guaranteed coverage is another top reason for many people to sign up for Medicare Supplement during their Medigap Open Enrollment Period.

Frequently Asked Medicare Questions

Feeling uncertain about where to start? You’re not alone.

  • 38% want to know what the ideal plan is for their needs
  • 36% want to know what services are covered or not covered
  • 31% want to know if general services like filling a prescription or getting a routine check-up will cost extra
  • 29% want to know how parts A, B, C, and D work
  • 26% want to know if doctor and specialist visits are included
  • 24% want to know if they can afford their combined Medicare and health insurance expenses
  • 13% want to know when the ideal time is to sign up for Medicare

While many of these questions have different answers depending on your situation, United Medicare has plenty of resources to help you learn and research the different parts of Medicare. Once you’re ready to shop, our Licensed Insurance Agents will help you find a Medicare Supplement plan that fits your specific requirements, circumstances and budget.

We Can Help

Thousands of Medicare consumers have relied on the United Medicare Advisors’ team of Licensed Insurance Agents to help them understand their options throughout their Medicare journeys. We want to thank our clients for trusting us with their important decisions.

We’d also like to  express our gratitude to our Customer Success Team for going the extra mile with our clients each year, doing Annual Policy Reviews, answering questions one-on-one, and providing a quality customer experience. .

We’re looking forward to a happy and healthy 2022!

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