SANTA CLARA, Calif.,
March 31, 2021 /PRNewswire/ -- In an
analysis released today by eHealth, Inc. (NASDAQ: EHTH)
(eHealth.com) the company reports that Medicare beneficiaries
stand to save an average of $840 per
year for Medicare Supplement Plan F or $648 per year for Plan N if they enroll in the
lowest-cost option available in their area. eHealth calculated
potential savings by comparing the lowest-cost and highest-cost
Medicare Supplement plans within each plan type available through
eHealth for 65-year-olds in 67 metropolitan areas.
Medicare Supplement plans (also known as Medigap plans) are
offered by private insurers and are designed to fill many of the
coverage gaps in Original Medicare. They come in a number of plan
types but the most popular at eHealth among customers aging in to
Medicare are Plan G and Plan N, which account for approximately 87%
of all plan selections (among eHealth customers aging into Medicare
during the fourth quarter of 2020 and the first quarter of 2021).
Plan G is widely seen as the optimal replacement for the formerly
most popular Plan F, which is being phased out.
Medicare Supplement plans of the same type (e.g. Plan G) which
are offered by different insurers may vary significantly from one
another in terms of cost while providing the same basic benefits
and levels of coverage. As such, there is often little reason for
Medicare beneficiaries not to select the lowest-priced option
available to them within the same plan type.
Among Medicare Supplement Plan G plans, eHealth
found:
- $840 per year ($70 per month) is the average potential savings
identified for beneficiaries who enroll in the lowest-cost Plan G
option rather than the highest-cost Plan G option available in
their area, a 35% savings.
- Across all metropolitan areas reviewed, Plan G monthly premiums
ranged from $90 to $476.
- On average, Medicare beneficiaries had 6 Plan G options to
choose from across all metropolitan areas reviewed.
Among Medicare Supplement Plan N plans, eHealth
found:
- $648 per year ($54 per month) is the average potential savings
identified for beneficiaries who enroll in the lowest-cost Plan N
option rather than the highest-cost Plan N option available in
their area, a 35% savings.
- Across all metropolitan areas reviewed, Plan N monthly premiums
ranged from $78 to $284.
- On average, Medicare beneficiaries shopping at eHealth had 6
Plan N options to choose from.
Read the full report.
eHealth's findings are based on rates quoted for Medicare
Supplement Plans G and N for 65-year-olds through eHealth.com in 67
metropolitan areas by zip code. Data reflect rates as quoted by
eHealth between March 10 and March 17,
2021. eHealth may not offer all plans available in each zip
code. The averages reported above may not reflect actual rates or
plans available for each individual in each zip code. Refer to the
report for additional methodology information.
Notes:
*Among eHealth customers aging into Medicare
during the fourth quarter of 2020 and the first quarter of
2021.
About eHealth
eHealth, Inc. (NASDAQ: EHTH) operates a
leading health insurance marketplace at eHealth.com and
eHealthMedicare.com with technology that provides consumers with
health insurance enrollment solutions. Since 1997, we have
connected more than 8 million members with quality, affordable
health insurance, Medicare options, and ancillary plans. Our
proprietary marketplace offers Medicare Advantage, Medicare
Supplement, Medicare Part D prescription drug, individual, family,
small business and other plans from over 180 health insurance
carriers across fifty states and the District of Columbia.
Media inquiries, please contact: pr@ehealth.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/medicare-supplement-buyers-can-save-an-average-of-840-annually-through-comparison-shopping-for-the-lowest-cost-option-in-their-area-ehealth-analysis-finds-301259636.html
SOURCE eHealth, Inc.