PR Newswire
AUSTIN, Texas, Nov. 19, 2024
eHealth research examines costs & trends midway through Medicare's Annual
Enrollment Period and outlines beneficiaries' priorities for President-elect Trump
AUSTIN, Texas, Nov. 19, 2024 /PRNewswire/ -- New original research from eHealth, Inc. (Nasdaq: EHTH), a leading online private health insurance marketplace, finds that the average premium for Medicare Part D drug plans selected by beneficiaries in the first half of Medicare's Annual Enrollment Period is up 17% from a year ago.
Survey data included in eHealth's report show that 64% of Medicare beneficiaries are more confident in the future sustainability of Medicare based on the outcome of the presidential election. Seventy-two percent (72%) are confident President-elect Trump will prioritize their needs. Their top-three priorities for the incoming administration are lowering drug costs, lowering out-of-pocket expenses, and strengthening Medicare Advantage.
"Midway through Medicare's Annual Enrollment Period, many beneficiaries are grappling with significant cost increases and changes to their benefits, forcing them to shop for new plans," said eHealth CEO Fran Soistman. "It can be challenging to choose the right Medicare plan for your personal needs and budget. However, as shown in our report, almost nine-in-ten beneficiaries say they feel more confident selecting a new Medicare plan when they work with a licensed health insurance agent."
Additional highlights:
- 79% of Medicare Advantage and Medicare Part D plan enrollees say costs or benefits are changing under their current plan
- 88% have already begun reviewing their coverage options, while 63% of these say they have enrolled, or will enroll, in a new Medicare plan for 2025
- 87% say that working with a licensed agent increases their confidence when selecting a Medicare plan
Read the full report.
Medicare's Annual Enrollment Period for 2025 coverage is scheduled to conclude on December 7, 2024. eHealth's report is based on an analysis of tens of thousands of Medicare plans selected through eHealth in the period from October 15 through November 8, 2024. Survey findings are based on a poll of Medicare beneficiaries drawn from the general population and conducted through a third-party survey vendor. For more information, refer to the methodology section of the report.
No information relevant to eHealth's financial performance should be drawn from this report. Like other insurance brokers, eHealth is compensated on a fixed per-member basis for Medicare Advantage and Part D plans, as regulated by the Centers for Medicare and Medicaid Services.
About eHealth (NASDAQ: EHTH)
We're Matchmakers. For over 25 years, eHealth has helped millions of Americans find the healthcare coverage that fits their needs at a price they can afford. As a leading independent licensed insurance agency and advisor, eHealth offers access to over 180 health insurers, including national and regional companies.
For more information about eHealth, visit ehealth.com or follow us on LinkedIn, Facebook, Instagram, and X. Open positions can be found on our career page.
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SOURCE eHealth, Inc.
