Research shows that 82 percent of people over 65 years don’t know how or where to buy it.
Upon reaching the age of 65, most Americans will receive part A and will choose to be covered by part B as well, but beyond that, Medicare supplemental insurance appears to be causing seniors a significant amount of confusion.
A survey was performed by a group called Medicare Medics, to examine the way in which individuals who newly qualify for the benefits are managing. It included participation from people 65 years of age or older in the large Florida senior communities of Miami Dade, Broward, and Palm Beach.
Among the respondents, 82 percent said they had no idea how to buy medical coverage on their own.
They also found that most seniors feel that there are too many health insurance quotes and Medicare supplemental insurance letters from which they have to choose. The research also indicated that most people in that age group feel that Advantage plans wouldn’t benefit them because they do not come with premiums. However, the reason that these plans don’t have a cost to the beneficiary is that the risk is passed from the government onto a private carrier and then that company is paid by the government for taking on that risk.
Many of these additional forms of coverage include important benefits such as vision, hearing and dental, as well as prescription payments.
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The research suggested that senior consumers are often confused by Medicare Part D.
That plan is offered either by either a private carrier or as a Medicare supplemental insurance coverage, through its own system.
It is true that the process can seem dizzying, as there are so many different letters involved, and each plan means something different, though they can appear similar in some ways. However, when each is considered individually, they become much easier to understand. It is often recommended that seniors speak with an agent who can provide this understanding and offer information about each relevant plan in plain English.
With the assistance of a Medicare supplemental insurance agent, it becomes much more likely that the proper coverage will be obtained at the best possible price.