By Ron Spivack
Nine in 10 seniors enrolled in Medicare supplements say they are satisfied with their coverage and the vast majority (91 percent) says they’d recommend the coverage to a friend or relative when they turn 65, a survey from America’s Health Insurance Plan finds. The numbers of satisfaction are up from previous years.
The vast majority of enrollees (79 percent) say their Medicare supplement policy provides an excellent or good value for the money, consistent with similar findings in 2009 (77 percent) and in 2005 (80 percent).
Medicare supplement insurance—-Medigap—is private health insurance designed to supplement Medicare. Medigap enrollees say out-of-pocket costs and the loss of financial security and peace-of–mind top the list of concerns they would have if Medicare insurance was no longer available to them. The number of seniors choosing Medigap coverage continues to increase, reaching 9.8 million enrollees in 2011, AHIP reports.
When asked what they liked most about their Medicare supplement coverage, enrollees highlighted a variety of benefits, including limits on out-of-pocket costs, ease of dealing with medical bills and paperwork, and the ability to budget for unexpected medical costs. Beneficiaries also said they valued the fact that Medigap allows them to see the doctor of their choice and that it covers hospital expenses and physician costs not covered by Medicare.
“Medicare supplement coverage provides seniors with financial security and peace of mind about their health care coverage,” said Karen Ignagni, AHIP president and CEO.
For more information on Medicare supplements, contact Ron Spivack, of Mutual of Omaha, at 847-334-0454.