As Medicare Enrollment Period Closes, Few Shop Around for Best Coverage

A Kaiser Family Foundation (KFF) study found few Medicare beneficiaries shop around during the annual enrollment period from Oct. 15 to Dec. 7, for private Medicare Advantage HMO or PPO plans or stand-alone prescription drug plans, reports the Worcester Telegram & Gazette . Researchers analyzed data from the U.S. Centers for Medicare & Medicaid Services during the enrollment period at the end of 2016 for the 2017 calendar year. Just 8 percent of Medicare Advantage plan members with prescription drug coverage, and 10 percent of stand-alone prescription drug plan members, voluntarily moved to another plan in the 2016 annual enrollment period for the following year. Data from the 2017 Medicare Current Beneficiary Survey determined 35 percent of beneficiaries living in the community said it was very or somewhat difficult to compare options, which rose significantly among beneficiaries in fair or poor health and with five or more chronic conditions. KFF also found that nationwide, beneficiaries face an average of 28 plans to choose from.