Fact: Seniors Don’t Shop Around For Medicare

Medicare, News February 7, 2018 0
Fact: Seniors Don't Shop Around For Medicare | Senior Market Advisors

Fact: Seniors Don’t Shop Around For Medicare

Did you know that only 33% of seniors shop around for the best deal before purchasing a Medicare plan? Most seniors even spend more time shopping around for the best deals on gas and food than they do for their health care. They might be thinking that shopping around for a plan takes too much time or that they won’t save much by looking, but that’s not always the case. Thousands of seniors in your area could be losing out on great savings.

Why Is This A Trend?

Medicare is complicated, and the signup process can seem daunting. That’s why seniors often choose the first plan they find that looks okay without even looking for a cheaper option. Additionally, a lot of seniors don’t have enough Medicare background knowledge to understand the differences between plans and make informed decisions. Some may not even know what a deductible or a premium is! To make their lives easier, they just enroll in the first plan they find or the plan that their doctor favors. Or, they may not start looking for a plan until right before their deadline to enroll and then not have time to shop around.

Some seniors do shop around but make bad financial decisions because they do not understand how it works. For example, a senior may not know what Medicare Advantage is. They may instead enroll in Original Medicare and then purchase separate prescription drug, dental, and vision plans. That can be more expensive than one comprehensive Medicare Advantage plan. They may also enroll in plans they don’t need, like gap coverage even though they have LIS and don’t fall into the gap.

Let’s Fix It

You can help fix this problem by making sure your clients both new and old are aware of how much money they could be saving. They may not realize how big of a difference there can be between two plans. For example, when it comes to comparing prescription drug plans, the same drug could be $8 or $100 on two different plans. When you visit with clients, try to find out how much they are currently spending on their prescription drugs and their health care services. You can probably turn around and sell them a plan that will save them money.


If you join us in becoming a solution to this problem, not only will you make money but you’ll also help seniors save money!

Get Ahead

At Senior Market Advisors, we send out direct mail and complete digital marketing campaigns that help us make sure seniors know when they are eligible to make changes to their Medicare plans. Then, our agents can show up at their door with several different plan options that can work for them. Our agents earn top-tier commissions, and their clients enroll in great plans.

To learn more about Senior Market Advisors, check out our short video here.

Anastasia Iliou
Anastasia Iliou
Content Marketing Manager at Senior Market Advisors
Anastasia graduated from Belmont University with a Bachelor's degree in Songwriting. When she's not writing, she's on a mission to visit all 50 states in the U.S (and to date has reached 32). Anastasia loves writing music, hiking, and playing with her pets (hedgehog, cat, and dog). She loves animals (but not so much bugs) and spends her free time volunteering for The Elephant Sanctuary in Tennesee.