Medicare Drug Plan Shopping Pays: Agent Survey

One-quarter of the agents AAMSI surveyed said that 25% to 50% of active shoppers ended up replacing their current drug plans with better or cheaper coverage, and 16.5% said more than half of clients who actively shopped for coverage moved to better or cheaper plans.

About 48% of the participating agents estimated that the average client who switched Medicare Part D plans saved less than $200 per year.

But 37.5% estimated that the average client saved from $200 to $500 per year, and 14.5% reported that their clients who switched plans averaged more than $500 in savings per year.

An Obstacle

Jesse Slome, AAMSI’s director, said agents often have trouble persuading clients with Medicare drug plans to review their coverage options during the annual enrollment period.

“Regrettably, as people age, they seem less willing to take the time to compare,” Slome said.

Jesse Slome. Credit: American Association for Medicare Supplement Insurance