The Medicare beneficiaries of today don’t believe the program will be around for the beneficiaries of tomorrow.
In a recent survey of Medicare Advantage plan beneficiaries, 63 percent said they were concerned Medicare coverage won't be available throughout their lifetime. Sixty-nine percent said they believed Medicare will not be available throughout their children's lifetimes.
The results show that even as enrollment in Medicare and MA plans reach new highs, confidence about the reliability of the program is wavering among beneficiaries.
The survey, conducted by clinical technology company HealthMine, queried 781 insured consumers age 65 and older with a chronic condition who are enrolled in a MA or supplemental plan.
Beneficiaries were also somewhat concerned about stability of their current coverage, with only 34 percent who said they were very confident their coverage was stable. Just under half (49 percent) had some confidence; 13 percent were not too confident; and 4 percent had no confidence in the stability of their coverage.
“While ‘Medicare for All’ is in the news, these results may indicate that confidence in Medicare is wavering. It underscores that continuous changes in healthcare can fuel consumer uncertainty,” Bryce Williams, president and CEO of HealthMine, said in a statement. “However, Medicare Advantage plans are driving value-based care. And value-based care is the opportunity for plans to double down on their commitment to beneficiaries by providing highly individualized guidance to help them achieve better health.”
Beyond concerns over the stability of Medicare coverage, respondents were worried about the security of their medical information, with only 17 percent who said they were very confident of the security of digital medical information. About one-third of respondents were either not too confident or had no confidence regarding their information security.
The majority of respondents also said they were not confident their provider would protect them from Medicare scams––44 percent were not sure and 24 percent said they had no confidence.
However, fears about Medicare scams may be somewhat overblown, as only 5 percent said they had been victimized in a scam, and 72 percent said they were educated about Medicare scams.
Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."