openPR Logo
Press release

Study Examines How Seniors Shop For Medicare Insurance

Find your best Medicare insurance plan options working with a local Medicare agent.

Find your best Medicare insurance plan options working with a local Medicare agent.

A just completed study of seniors enrolled in Medicare plans found that individuals prefer to work independently when comparing and selecting coverage.

Less than half (44%) of the survey participants used an independent insurance agent or broker when shopping for Medicare coverage. Greenwald Research conducted the research in partnership with the American Association for Medicare Supplement Insurance (AAMSI).

The study found that the majority (53%) of survey respondents did not work directly with a broker. These individuals worked independently to compare and select coverage.

Comparing the various available Medicare plan options can be confusing. There can easily be 40 or as many as 50 different plans available. The number will depend on where you live.

According to the American Association for Medicare Supplement Insurance, the majority of Medicare beneficiaries currently participate in a Medicare Advantage (MA) plan. The organization reports some 26 million individuals are participants in a MA plan. The latest data reveals that 14.5 million have a Medicare Supplement plan, also referred to as Medigap coverage.

Experts recommend consumers consider working with a knowledgeable and experienced Medicare insurance professional. Some plans are promoted as being free of cost for the participant. However, these no-premium plans may expose you to deductibles and co-payments that can exceed the cost of monthly insurance premiums.

Some Medicare plans provide the option of seeing any medical professional, an option some seniors find desirable. Other plan options may limit you to specific providers including the ability to seek second opinions from specialists of your choosing.

Consumers should be aware of the difference between an insurance agent and an insurance broker. While both must be licensed and meet state-specific requirements, an agent is typically able to only represent one insurance company. Conversely, an insurance broker can represent and sell policies offered by multiple companies.

Asking how many different insurance companies the individual can represent is a simple way to ascertain who you are speaking to.

A national directory lists local agents and Medicare insurance brokers available to assist consumers. Hosted by the American Association for Medicare Supplement Insurance, the zip code based resource is free to use and can be accessed at https://www.medicaresupp.org/find-local-agent/ without inputting any personal information.

AAMSI
32504 Carrie Place
Westlake Village, CA 91361

The American Association for Medicare Supplement Insurance advocates for the importance of protection and supports insurance professionals who market Medicare products. For information, visit the organization's website at https://www.medicaresupp.org

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Study Examines How Seniors Shop For Medicare Insurance here

News-ID: 2329794 • Views: 620

More Releases from American Association for Medicare Supplement Insurance

Medicare Open Enrollment Ends In One Week
The opportunity for millions of Americans to switch Medicare plans ends in a week on December 7th according to the American Association for Medicare Supplement Insurance (AAMSI). "Once a year Medicare gives Americans an opportunity to compare their current plan and freely switch to a plan that will offer better coverage for 2023," explains Jesse Slome, director of the Medicare-focused organization. A recent study from the organization found that many fail
Medicare Drug Plan Comparison Tool Helps Seniors Save
The typical senior who switches their Medicare drug plan coverage saves between $500 and $700 yearly reports the American Association for Medicare Supplement Insurance (AAMSI). Medicare Open Enrollment currently underway allows millions of Medicare beneficiaries to find the best drug plan coverage for the coming year. According to Jesse Slome, director of the Medicare-focused organization, a majority of seniors do not take advantage of the opportunity to review and lock in
Medicare Insurance Agent Online Directory Prepares For Annual Enrollment
Millions of Americans will take advantage of the upcoming Medicare Annual Enrollment Period (AEP) to find better Medicare coverage. "Medicare plan sellers are spending millions of dollars on television ads featuring celebrities but they are not necessarily directing seniors to the best plan choices," says Jesse Slome, director of the American Association for Medicare Supplement Insurance. According to Slome, the Centers for Medicare and Medicaid Services (CMS) reported receiving so many
Medicare Insurance Agents Offered Public Relations Toolkit
The American Association for Medicare Supplement Insurance announced plans to make available the 2022 Medicare Agent Publicity Toolkit for agents marketing Medicare insurance solutions. "It's getting downright impossible for independent Medicare agents and brokers to compete with the millions of dollars spent on celebrity spokespeople promoting Medicare solutions," declares Jesse Slome, director of the Association. "We believe future success for many agents will depend on their ability to dominate their

All 5 Releases


More Releases for AAMSI

Association Seeking Speakers For 2022 Medicare Insurance Industry Conference
The American Association for Medicare Supplement Insurance is seeking speakers for Medicarians 2022, the national Medicare insurance industry conference. "The national event brings together executives from throughout the Medicare insurance industry," states Jesse Slome, director of the Medicare insurance organization. The 2022 event will take place June 7-8 at the MGM Grand in Las Vegas. Slome is seeking speakers with expertise in marketing, underwriting and administrative issues dealing with Medicare Supplement
Latest Medicare Prescription Drug Plan Data Reported
Some 48 million Americans are enrolled in Medicare prescription drug plans according to the latest data reported by the American Association for Medicare Supplement Insurance. “Prescription drug plan coverage is one of the most important benefits valued by seniors on Medicare,” states Jesse Slome, director of the Medicare advocacy organization. “Individuals have enormous choice today and selecting the right prescription drug plan coverage can be a significant money saver.” According to
Medicare Open Enrollment Tools To Compare 2022 Advantage and Drug Plans
Two valuable tools can help consumers compare their Medicare 2022 plan coverage during Medicare Open Enrollment. "Millions of seniors are covered by a Medicare Advantage or a Medicare drug plan (Part D)," says Jesse Slome, director of the American Association for Medicare Supplement Insurance (AAMSI). "This is your once-a-year chance to get better coverage for 2022. You may even save hundreds or even thousands of dollars in the coming
Medicare Supplement Insurance Industry Conference Reports Record Sponsorship
The growth of interest in Medicare insurance has resulted in record sponsorships for the 2021 industry conference organized by the American Association for Medicare Supplement Insurance. "We easily have twice as many sponsors for this conference compared to the last event held prior to Covid," explains Jesse Slome, director of the American Association for Medicare Supplement Insurance (AAMSI). "There are more companies focused on every dimension of generating consumer
Medicare Supplement Insurance Industry Conference Discount Announced
A special limited time discount has been announced for the 12th National Medicare Supplement Insurance industry conference. Organized by the American Association for Medicare Supplement Insurance the convention takes place September 8-10, 2021 in Chicago. "The Medicare insurance industry continues to grow and we want to see many people who are new and wanting to learn the latest," says Jesse Slome, AAMSI's director and organizer of the Medigap industry conference.
Seniors Face Choosing From 20 Different Medicare Supplement Insurance Companies
The over 10,000 Americans who turn 65 today face an increasingly complex decision regarding their Medicare coverage. Those seniors who consider Medicare Supplement insurance have an average of 20 different insurance companies to choose from. "So much choice is wonderful but for many it is overwhelming," declares Jesse Slome, executive director of the American Association for Medicare Supplement Insurance (AAMSI) a national organization. "Selecting the Medicare option that best