With switching rates during the 2019 Medicare Annual Election
Period (AEP) on the rise after years of decline, experts say it’s hard to
predict what will happen during the newly reinstated Medicare Open Enrollment
Period that ends on March 31. But as insurers prepare their bids for 2020,
emerging market research on consumer behavior during these periods may provide
valuable insight into the types of benefits and practices that attract — and
keep — enrollees.
According to the 2019 Medicare Shopping and Switching Study recently released by Deft Research, switching among MA Prescription Drug plan members during the most recent AEP climbed to 14% after three years of declining switching rates.
“Some of the reasons we saw consumers actively engaged and [seeking] to switch were not the same reasons that we saw them make changes in the past,” says Tim Brousseau, vice president of client services with the health insurance market research firm. “In the past these consumers were raked over the coals in terms of huge benefit changes — any time a member doesn’t have access to their doctor or to their drugs, they can’t stick with their current plan.”
But this year Deft found that consumers were “performing due diligence” themselves; 46% of survey respondents said they were satisfied with their 2018 plan but found a better option for 2019.
Deft also observed that half as many people than in recent years cited plan-specific issues that caused them to shop and switch. That’s led to what Brousseau refers to as the “de-commoditization” of MA, where plans are starting to add more attractive supplemental benefits because of new flexibility offered by CMS. These include things like transportation, meal delivery and personal home help aids.
Brousseau tells AIS Health that over-the-counter and other allowances were the most widely regarded. Survey respondents also identified hearing aids and fitness benefits as being of high interest.
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