A new study from Deft Research found a one year lag before dissatisfied Medicare members switch insurers.
The study found that unhappy members might first try switching plans within the same insurer, but these consumers have an elevated risk of leaving their insurer in the next year. According to the 2016 Senior Shopping and Switching Study—released today, 14% of consumers who switched products but kept their insurer in 2015 wound up switching insurers during this fall’s Annual Election Period.
The study examines the Medicare shopping process as it unfolds over the 8-week AEP. The report contains detailed findings about what consumers did, what influenced their decisions, and what past experiences predicted their behaviors.
Insights include:
- Week-by-week channel utilization
- Effectiveness of current insurer’s marketing efforts vs. competitors’
- 3-year trends in shopping and switching rates
- Shopping and switching motivators for MA, MedSupp, and PDP members
- Key drivers that predict switching
- Price sensitivity to premium, copays, and deductibles
- and much more
Learn more about Deft Research's Senior Market Intelligence Services.
To purchase a copy of the report, contact:
George Dippel at gdippel@deftresearch.com or 612-436-8321