Medicare Advantage Enrollment Rates and Client Satisfaction on the Rise
As enrollment steadily rises, seniors in Missouri and across the United States are realizing the benefits of Medicare Advantage Plans
Medicare Advantage has had varying rates of usage since it was first initiated in 1997, but in recent years plans have offered increasingly strong value, leading to a steadily growing enrollment among Medicare recipients across the country. In 2010, new laws were passed aimed at reducing costs of Medicare Advantage plans to make them more attractive and enrollment grew by more than 30% from 2011 to 2014 with almost 16 million seniors now enrolled in Medicare Advantage plans.
Why are so many people enrolling in Medicare Advantage plans?
There are several reasons for the growth in Medicare Advantage plans. First, costs have reduced over the past decade, and the number of Medicare-eligible and Medicare Advantage-eligible Americans has grown as the baby-boomer generation retires. However, Medicare Advantage plans are proving to be higher quality health insurance plans than original Medicare.
A number of advantages to Medicare Advantage have become evident in recent years. Some of these benefits include:
- Better preventative care: Previously, seniors could switch between Medicare and Medicare Advantage monthly, but now changes are generally made annually. This means that Medicare Advantage providers have an incentive to provide preventative services and keep their long-term clients healthy.
- Higher quality doctor access: Medicare users are limited to visiting doctors who accept Medicare, whereas Medicare Advantage plans build their own networks ofdoctors. Very often, this means that high quality doctors who may not want to deal with Medicare will accept Medicare Advantage.
- Out-of-Pocket Maximums: Medicare Advantage plans have out-of-pocket maximums that limit how much clients will pay in a year. This provides important coverage in catastrophic situations.
- Single-source coverage: Medicare advantage plans generally include prescription drug coverage as well as the above-mentioned out-of-pocket maximums. Traditional Medicare plans require supplementary catastrophic coverage as well as an additional premium for Part D prescription drug coverage.
This all equates to high client satisfaction with Medicare Advantage plans. According to a recent survey, 94 percent of seniors described themselves as either very satisfied or somewhat satisfied with their Medicare advantage plan. This number was 9% lower for original Medicare users
Learn more about Medicare Advantage from our experienced specialists
To learn more about the potential benefits of switching to a Medicare Advantage plan, contact our service oriented team at Senior Health Solutions. Call (636) 244-4415 to make an appointment. And remember, we will come to you.