With Medicare's 2025 open enrollment just weeks away (October 15 - December 7), this below statistic is alarming. With insurance, it is easy and comfortable to renew your insurance with the same product with the mentality of "if it is not broken don't fix it". Unlike people with employer sponsored plans, beneficiaries healthcare needs can change drastically from year to year - thus needing different coverage, providers, medications, and stretching one's retirement dollar farther. It is imperative for beneficiaries to take a careful examination of their health, expected healthcare needs and enlist family members to assist in their coverage decisions. I also encourage providers to discuss the care they envision their patients needing in the upcoming year. Patients trust their doctors and need guidance.
The analysis of federal data shows that nearly 7 in 10 Medicare beneficiaries (69%) did not compare their Medicare coverage with other Medicare options during the program's annual open enrollment period for coverage in 2022. Enrollees in traditional Medicare were slightly more likely to skip shopping around than those in Medicare Advantage plans (73% vs. 65%). (KFF Nearly 7 in 10 Medicare Beneficiaries Did Not Compare Plans During Medicare's Open Enrollment Period 9.26.24)
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