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Many Medicare Beneficiaries Spending Nearly 24 Hours Researching and Selecting Their Medicare Coverage

National survey reveals people with Medicare seek out highest quality coverage, and believe making the right choice helps them live a healthier life

Wednesday, November 13, 2013 1:03 pm EST

Dateline:

LOUISVILLE, Ky.

Public Company Information:

NYSE:
HUM
US4448591028
"Over many years, countless industries have tailored and customized their approaches to working directly with their customers. Our survey reveals that health care is no different – people want individual attention"

LOUISVILLE, Ky.--(BUSINESS WIRE)--According to a national survey of Medicare-eligible Americans conducted this year by Humana Inc. (NYSE: HUM), one of the nation’s leading health and well-being companies, 70 percent of people 65 and older say that selecting the right Medicare coverage impacts their ability to live a healthy life.

Consequently, people eligible for Medicare coverage are taking the plan-selection process very seriously. As we’re now in the midst of Medicare’s Annual Election Period (which runs through December 7, 2013), people with Medicare are utilizing different criteria and taking advantage of different resources this year as they navigate their coverage options.

The survey found that:

  • Medicare beneficiaries who research and evaluate Medicare options spend, on average, 22 hours on their plan decision – reflecting the importance they place on the decision.
  • 64 percent of people eligible for Medicare cite plan quality as the key factor driving them to switch their Medicare coverage, rating overall quality as more important than plan cost and ability to continue receiving care from their primary care provider.
  • Nationally, educational resources from the Centers for Medicare and Medicaid Services (CMS), help from friends, and the Internet are the leading resources Medicare beneficiaries turn to aid them in the plan-selection process.
  • 10 percent of Medicare beneficiaries would like for someone to do their Medicare planning for them.

By providing access to agents across the U.S. who can work one-on-one with Medicare beneficiaries, Humana takes a personalized approach to helping people pick a plan that best suits their needs.

“Over many years, countless industries have tailored and customized their approaches to working directly with their customers. Our survey reveals that health care is no different – people want individual attention,” said Debbie Smith, Vice President, Senior Products at Humana. “While people enrolling in Medicare or a Medicare plan recognize the importance of selecting the option that works best for them, the research shows they are dedicated to finding what they believe to be the highest quality coverage and will invest the time to identify that best option.”

It is important for Medicare beneficiaries to understand that health care reform does not affect the enrollment process for Medicare. Although both the health care exchange Open Enrollment Period and Medicare Annual Election Period began in October, the exchanges are only for people who do not qualify for Medicare.

Regarding Medicare, Humana’s survey provided additional insights into beneficiaries’ attitudes toward their health and well-being. 70 percent of survey respondents reported that they walk, run or jog on a regular basis when asked about their personal health.

About the Survey

The survey, conducted in 2013, commissioned by Humana and conducted by Edelman Berland, surveyed 1,000 Medicare-eligible residents in the United States via a 15-minute, customized phone interview. The survey aimed to provide insight into seniors’ perspectives on key issues related to how choosing the right Medicare plan can help them achieve good health to live life fully.

About Humana

Humana Inc., headquartered in Louisville, Ky., is a leading health-care company that offers a wide range of insurance products and health and wellness services that incorporate an integrated approach to lifelong well-being. By leveraging the strengths of its core businesses, Humana believes it can better explore opportunities for existing and emerging adjacencies in health care that can further enhance wellness opportunities for the millions of people across the nation with whom the company has relationships.

More information regarding Humana is available to investors via the Investor Relations page of the company’s web site at www.humana.com, including copies of:

  • Annual reports to stockholders
  • Securities and Exchange Commission filings
  • Most recent investor conference presentations
  • Quarterly earnings news releases
  • Replays of most recent earnings release conference calls
  • Calendar of events (including upcoming earnings conference call dates and times, as well as planned interaction with research analysts and institutional investors)
  • Corporate Governance information

Contact:

Humana Inc.
Corporate Communications:
Mitch Lubitz, 813-732-0386
mlubitz@humana.com