Introducing: Annual Medicare 2020 Report
A report examining Americans’ concerns, behaviors and response to Medicare
One in five Americans is enrolled in a Medicare health plan and almost 10,000 age into Medicare every day. Yet, many are faced with concerns, uncertainty and confusion of Medicare.
We believe taking a financially literate approach to Medicare can be extremely impactful. GoHealth eases the Medicare process for people — making it easier to understand, evaluate, and enroll in a Medicare plan that is right for them.
We surveyed 2,106 Americans currently enrolled in Medicare or nearing eligibility to understand the current state of Medicare from enrollment opinions, the impact of coverage gaps and costs on the quality of life, and sentiments around current events and healthcare.
While many start thinking about their Medicare options six months before turning 65, some wait until they are eligible or after turning 65, which is usually the time they become inundated with information. When they do start the process, many are overwhelmed and enroll based on affordability.
50%
of Medicare beneficiaries started thinking about Medicare six months before turning 65, while 20% waited until after becoming eligible or after turning 65.
57%
of those nearing eligibility are overwhelmed to find the right plan, and 47% of Medicare beneficiaries felt overwhelmed when they began enrolling in Medicare.
51%
of Medicare beneficiaries selected a plan based on what they could afford.
As a result, many face coverage gaps, that can lead to financial hardships or improper care.
50%
of Medicare beneficiaries and 65% nearing eligibility, are concerned their plan will not cover long-term health needs.
19%
of Medicare beneficiaries find their current plan already does not meet their health needs.
Download the Annual Medicare 2020 Report for more information on common challenges, behaviors and attitudes around Medicare.
Download ReportRead the full report
https://pdf.gohealth.com/gohealth-biannual-medicare-2020-report.pdf