Medicare Blog | Medicare News | Medicare Information

The annual election period for Medicare Advantage plan coverage and Medicare Part D prescription drug coverage runs from Oct. 15 through Dec. 7 every year. The annual election period that just ended was for coverage that starts Jan. 1, 2021.

Medicare supplement insurance products, or Medigap products, have an open enrollment period system tied to people’s birthdays, rather than a single enrollment period for all consumers.

Google Trends Barometer

Google uses its own search traffic to power its Google Trends search activity analysis tool.

One problem with this method as a market strength barometer this year is the COVID-19 pandemic. Many Medicare enrollees are trying to stay home as much as possible, and many are still avoiding face-to-face meetings with financial professionals.

But search activity for other terms older consumers might use, such as “AARP,” “home care” and “grocery delivery,” have been about the same during the 2019 annual election period and the annual election period that just ended.

YouTube Barometer

Recently posted YouTube “Medicare plan” videos sorted by views reveals that UnitedHealth Group Inc. and eHealth Inc. have been especially active at marketing Medicare plans through YouTube videos and YouTube commercials this year.

But a comparison of search activity for “Medicare Advantage” with other terms consumers ages 65 and older might use shows:

• UnitedHealth has generated 12 million views with a 31-second “Wow! Zero-Dollar Co-Pay Plans” video in just a month, and 5.9 million views with a 16-second video about Medicare plans with vision coverage.
• EHealth, a web broker, has generated 3.9 million views with a 3-minute video about shopping for Medicare Advantage plans online.
• The Centers for Medicare and Medicaid Services (CMS), the agency that runs Medicare, attracted 1.9 million views with a 16-second video about the start of the annual election period.

Consumer Knowledge Gaps

Medicare plan marketers say they continue to see widespread problems with Medicare enrollees’ health insurance literacy.

Managers of MedicareAdvantage.com, a Medicare plan lead-generation site affiliated with Tranzact, an arm of Willis Towers Watson LLC, recently reported that only 44% of the Medicare enrollees they surveyed could define the term “deductible.”

Similarly, Oak Street Health, a company that provides routine health care, found that 25% of the Medicare enrollees were confused about the differences between the various Medicare plan options. About 78% of the Oak Street survey participants said they were satisfied with their Medicare benefits, but only 53% said they understood their Medicare benefits.

What Consumers Are Buying

When eHealth analyzed its Medicare plan shoppers, it found that what the shoppers are paying out-of-pocket for their share of the coverage premiums may stay about the same in 2021.

Midway through the annual election period, consumers’ share of the monthly premiums for 2021 Medicare Advantage plan coverage was $5, or about the same as the 2020 average.

Consumers’ share of the monthly premiums for 2021 Medicare Part D prescription drug plan coverage was $20, unchanged from the 2020 average.

Shoppers’ Medicare supplement insurance premiums increased to $160 per month for 2021 coverage, from $157 per month for 2020 coverage.