eHealth, Inc. Finds Average Medicare Advantage Premiums Decline 42 Percent During the Latest Annual Enrollment Period; Medicare Supplement Premiums See 8 Percent Increase
eHealth's report also finds that use of online transparency tools that enable beneficiaries to search for plans accepted by their preferred medical providers and covering their prescription drugs dramatically increased during the AEP for 2019 coverage. Those who used eHealth's prescription drug coverage tool found a potential median savings of
Highlights from the report:
- Medicare Advantage Costs Decreased for 2019: The average premium for Medicare Advantage Prescription Drug plans selected by eHealth customers decreased 42 percent between the enrollment periods for 2018 and 2019 coverage, from
$19to $11per month. Average deductibles decreased 13 percent, from $150to $130. Average out-of-pocket limits decreased 3 percent, from $5,589to $5,415.
- More Beneficiaries Buying into Medicare Advantage Selected
$0Premium Plans: As availability of Medicare Advantage plans with $0monthly premiums increased, beneficiaries living in 70 percent of counties in 37 states served by eHealth had access to a zero-dollar Medicare Advantage plan for 2019. The share of $0premium plans selected by Medicare Advantage and Medicare Advantage Prescription Drug customers increased from 62 percent to 74 percent at eHealth between the Annual Enrollment Periods for 2018 and 2019 coverage.
- Medicare Supplement Premiums Slightly Increased for 2019: Medicare Supplement plans were the only product that showed an increase in average premiums, rising by 8 percent, between the 2018 and 2019 AEPs (from
$141to $152per month).
- Use of Online Transparency Tools Dramatically Increased: 30 percent of people buying Medicare Advantage Prescription Drug plans and 24 percent purchasing Medicare Part D plans used eHealth's prescription drug coverage comparison tool during the 2019 AEP. The share of customers using eHealth's provider lookup tool rose from 5 to 47 percent between the 2018 and 2019 AEPs.
The report's findings are based solely on Medicare insurance products purchased by customers age 65 and older through websites operated by
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