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April 13, 2023 at 11:30 AM
What You Need to Know
- Only 7% of Medigap users surveyed said they were unhappy with their coverage.
- One private broker says its customers are about as happy with their Medigap policies as with their Medicare Advantage plans.
- Another private broker says clients may not know what kind of coverage they have.
People with Medicare supplement insurance like it about as much as they like their underlying Medicare coverage, according to America’s Health Insurance Plans (AHIP).
The insurance company trade group has responded to criticisms from Sen. Elizabeth Warren, D-Mass., and others by posting results of a recent survey of about 500 people, ages 65 and older, who have Medicare supplement insurance, or Medigap coverage, along with “Original Medicare” coverage.
About 80% of the participants said they were extremely or very satisfied with their Medigap coverage, and 79% said they were extremely or very satisfied with the Original Medicare coverage, according to AHIP.
About 7% said they were dissatisfied with their Medigap coverage, and 8% said they were dissatisfied with their Original Medicare coverage.
What It Means
Typical clients who have Medigap coverage probably like it.
Medigap Basics
The 65 million Medicare enrollees can use either Medigap policies or Medicare Advantage plans to pay the many deductibles and copayments associated with Original Medicare.
The 14 million Medigap users get standardized, state-regulated policies built around a federal framework developed in 1990. The policies pay most Medicare cost-sharing amounts without changing the care the policyholders get.
The 30 million Medicare Advantage plan enrollees typically get extra benefits, such as dental insurance and vision insurance, in exchange for accepting active management of their care and, in many cases, coverage rules that strongly encourage them to use doctors and hospitals in a plan’s provider network.
