This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Extend Health Survey: 58% Of Seniors Who Buy Private Medicare Plans On A Health Insurance Exchange Intend To Reevaluate Their Plans During The 2013 Annual Open Enrollment Period

A survey of 370 seniors who purchased private Medicare plans in previous years using a health insurance exchange revealed that 58% 1 intend to reevaluate their plans, with 54% saying they will “possibly” replace one or more of their plans and 4% saying they “definitely” will. Asked why, the top three responses were: "I just want to confirm that I have the best coverage for me" (61%); "My premiums increased" (21%); and "My out-of-pocket expenses increased" (8%).

When asked what they think about the process of reevaluating their plans using the Extend Health exchange versus doing it on their own, 70% said, “It is easier” to use the Extend Health exchange.

The 2013 annual open enrollment period (OEP) runs from October 15–December 7, 2012. The survey was fielded prior to the OEP by Extend Health, which operates the nation’s largest private Medicare exchange. The company has been surveying seniors on their attitudes about retirement, healthcare and Medicare since December 2009. Extend Health is a Towers Watson company.

Said Bryce Williams, founder of Extend Health and Managing Director of Exchange Solutions for Towers Watson, “These results confirm two things we know to be true about the private exchange model: First, a majority of seniors are taking responsibility for their own health care benefits by proactively engaging in an annual ‘health care benefits checkup.’ Second, they are doing so because it is easier to reevaluate, compare and contrast plans using an exchange.”

Added Williams, “These results send an important message to insurance companies offering plans on exchanges: you have an opportunity to win – or lose – customers every year, depending on your ability to compete through price and service. This is good for both seniors and the health insurance companies that serve them in the private Medicare market.”

Questions and detailed results from the survey are as follows:

What do you plan to do during the 2013 Medicare annual open enrollment period?

Revaluate one or more of my existing plans and possibly replace one or more of them

Renew my existing plan or plans without reevaluating them

Definitely replace one or more of my existing plans

Drop one or more of my existing plans without replacing them

If you plan to reevaluate one or more of your existing plans, what is the most important reason prompting you to do so?

I just want to confirm that I have the best coverage
My premiums increased 21.1%
My out-of-pocket expenses increased 7.5%
My prescription drugs changed 4.4%

My current plan changed or is no longer offered
My benefits changed 2.2%
My health status changed 0.9%

What do you think about the process of reevaluating your private Medicare plans with Extend Health compared with doing it on your own?
It is easier 70.3%
It is the same 23.3%
It is harder 6.4%

Extend Health has helped hundreds of thousands of seniors compare and choose private Medicare plans. Extend Health is the only place seniors can compare thousands of plans from more than 80 carriers side by side and find plans that best meet their needs. Licensed benefit advisors are available to help seniors evaluate their Medicare coverage and explore new options quickly and easily by calling 1-866-322-2824 toll free.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 -2.67%
FB $104.07 -5.81%
GOOG $683.57 -3.45%
TSLA $162.60 -7.26%
YHOO $27.97 -4.05%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs