eHealth report finds just 36% say the Annual Notice of Change letter is easily understandable, highlighting the value of consulting with a licensed agent

AUSTIN, Texas, Aug. 1, 2024 /PRNewswire/ -- New original research published today by eHealth, Inc. (Nasdaq: EHTH) (eHealth.com), a leading online private health insurance marketplace, underscores the need for greater awareness of potential plan changes among Medicare Advantage and Part D plan enrollees heading into this fall's Annual Enrollment Period (AEP). 

"Few Medicare beneficiaries carefully review their Annual Notice of Change letters in September, and few switch plans when their needs and benefits change," said eHealth CEO Fran Soistman. "Failing to compare plans and utilize the expertise of a licensed agent could prove costly for beneficiaries, even for those who are happy with their current plan, since this year's AEP is expected to be among the most disruptive in recent memory." 

eHealth's new report, based on a poll of more than 500 Medicare beneficiaries, illustrates why many beneficiaries fail to review their options during AEP, only to discover after it is too late that their plans may no longer meet their medical and financial needs: 

  • Few carefully read mail from their insurers: Only 48% of Medicare beneficiaries say they carefully read the mail they receive from their insurance company. 

  • Most find it challenging to understand their "Annual Notice of Change" letter: Only 36% of Medicare Advantage and Part D plan enrollees find their annual notice of change letter readily understandable. 

  • Too few understand how much coverage can differ from one plan to another: 51% of Medicare beneficiaries believe – incorrectly – that benefits under most Medicare plans are "basically the same." 

  • Few make coverage changes: 81% of beneficiaries have been enrolled in their current Medicare plan for two years or more, while 51% have never made a change to their Medicare coverage.  

"Changes to coverage can have a profound impact on beneficiaries' quality of life and financial wellbeing," Mr. Soistman said. "When Annual Notice of Change letters arrive this year, Medicare Advantage and Part D plan enrollees could see reductions in supplemental benefits, increases in Part D premiums, product withdrawals and market exits by some insurers, and other core benefit changes." 

"It is important for beneficiaries to understand they have options when faced with significant changes to their benefits," Mr. Soistman continued. "Licensed agents and brokers like eHealth can provide valuable assistance at no additional cost to help beneficiaries review their options and enroll in a plan that meets their needs for 2025." 

Read the full report. 

eHealth's latest original research is based on a survey of more than 500 Medicare beneficiaries drawn from the general population. The survey was conducted through a third-party survey tool in July of 2024. Additional methodology information can be found in the report. 

About eHealth (NASDAQ: EHTH) 
We're Matchmakers. For over 25 years, eHealth has helped millions of Americans find the healthcare coverage that fits their needs at a price they can afford. As a leading independent licensed insurance agency and advisor, eHealth offers access to over 180 health insurers, including national and regional companies. 

For more information about eHealth, visit ehealth.com or follow us on LinkedIn, Facebook, Instagram, and X. Open positions can be found on our career page. 

Media inquiries: pr@ehealth.com 

eHealth, Inc. (PRNewsfoto/eHealth, Inc.)

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SOURCE eHealth, Inc.

Copyright 2024 PR Newswire

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