A considerable percentage of older Americans are unclear about some of the basic tenets of the Medicare program, a new survey reveals.
The National Council on Aging recently conducted a poll of 1,500 among men and women over the age of 65. It found that nearly half have never shopped around for Medicare coverage for a variety of reasons, but one of the most common reasons why was because they were confused by it. Fifty-one percent said they were either confused or didn't understand the program at all.
Jim Firman, president and CEO of NCOA, said these findings are significant, as between October 15 and December 7, seniors can make changes to their Medicare coverage during the Annual Enrollment Period.
"When it comes to Medicare costs, now is the time they can do something about it," said Firman. "Research your options and apply for available extra benefits. You'll be surprised how much money you can actually save."
This study can serve as a reminder to agents that they may want to make sure their health insurance leads fully understand specific policy plans before committing to one.