Are You Satisfied With Your Medigap Coverage?
A whopping 94% of senior citizens with Medicare Supplement insurance policies say they are satisfied with their health insurance coverage, according to a report by America’s Health Insurance Plans (AHIP). When respondents were asked whether they would recommend a Medigap plan to a friend or relative, 91% said they would. This 94% satisfaction level is an increase from AHIP’s previous surveys. Previously, the level of overall customer satisfaction hovered between 88% and 92%.
Medicare out-of-pocket expenses are a major concern
The AHIP survey shows out-of-pocket Medicare costs are a major issue for seniors. When asked what their biggest concern would be if Medigap insurance was no longer available, respondents most commonly said out-of-pocket health care costs.
Facts and stats
- 30% of survey respondents listed out-of-pocket costs as their biggest concern.
- 16% of respondents said limiting out-of-pocket costs was what they liked most about their Medicare Supplement Insurance policies.
- The most popular aspect of Medigap was the “financial security and peace of mind” that Medigap policies provide.
- Most respondents also said they would not compromise coverage for lower monthly bills.
- 76% said they would not opt for higher deductibles or greater out-of-pockets costs in exchange for lower premiums.
According to AHIP, the nationwide survey was conducted over the phone and included 500 respondents who all had self-paid (not employer-paid) Medigap policies. The respondents ranged in age from recently enrolled beneficiaries in the 65-69 bracket all the way to those 85 and older.
As you can see, most seniors who are enrolled in a Medigap plan are satisfied with their coverage. To find out which Medigap policies are available in your area, speak with a licensed agent today.