Deft Research recently published the 2021 Medicare Shopping and Switching Study. This national market research report of over 3,400 seniors details the shopping and switching habits of these consumers during the most recent Annual Election Period.
In 2020, more carriers, agencies, and consultants relied on the decision-making power of this study than ever before.
Deft's first Executive Research Brief takes a closer look at key report findings linked to CMS benefit design changes. For the 2021 plan year, CMS increased the top value for maximum out of pocket (MOOP) from $6,700 to $7,550. CMS also instituted a Part D Savings Model which limits some insulin copayments to $35.
Deft's study reveals the impact on consumers when MAPD's act on these changes.
An increase in MOOP of just $100 leads to disenrollment.
In a market where plan designs are not very different from each other, the value of the MOOP stands out as a competitive advantage or disadvantage.
Diabetics who switched plans favored enrollment Part D Savings Models.