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Medicare Blog | Medicare News | Medicare Information

[INFOGRAPHIC] Medicare Advantage vs. Medigap

Posted by Carly Callahan on Fri, Nov 20, 2015 @ 09:17 AM

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Over the past few years, the markets for both Medicare Advantage and Medigap have continued to skyrocket in growth with respect to enrollment rates, plan options and beneficiary satisfaction. Thus, it is imperative, more now than ever, for senior market insurance agents to have a diversified portfolio to accommodate the demands of both respective client bases. As we prepare to break into a new year, Precision Senior Marketing has crafted this handy infographic to demonstrate trends and changes within those markets so that senior market insurance agents may create an efficient game plan for 2016.

 

Below are key takeaways from this infographic:

Growth in Enrollment Rates

  • Medicare Advantage ↑ 9% in 2014
  • Medigap ↑ 5.7% in 2014

Popular Medicare Advantage and Medigap Plans

  • Medicare Advantage
    • HMO plans ↑ 6% in 2015
    • Local PPO plans ↑ 8% in 2015
    • Regional PPO plans are fairly flat in enrollment
  • Medigap

Overall Beneficiary Satisfaction

  • Nearly half of all Medicare Advantage plans received a 4-star or better rating out of five stars
    • 70% of Medicare Advantage beneficiaries are enrolled in a plan that has a 4-star rating or better
  • 9 out of 10 beneficiaries would recommend Medigap to a friend or relative to fill the gaps left by traditional Medicare
  • 94% of Medigap beneficiaries are satisfied with their coverage

Take a peep below for some further insight!

Medicare Advantage vs Medigap

 
 
To get more information on KFF.org's "Medicare Advantage 2015 Spotlight: Enrollment Market Update", visit: http://kff.org/medicare/issue-brief/medicare-advantage-2015-spotlight-enrollment-market-update/
 

For more information on AHIP.org's "Trends in Medigap Enrollment and Coverage Options", visit: http://www.ahip.org/epub/medigap-trends-report/

Sources: www.kff.org, www.ahip.org

Additional Updates:

Tags: Medicare Advantage, Medicare Supplement, Medigap

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