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Younger Generations Weigh In On Their Parents’ Medicare Coverage

Emily Potts Nov 30, 2020 12:52:44 PM

According to a recent national survey, 4 in 10 respondents have recently discussed their parents Medicare coverage. Of those, a whopping 74% have encouraged their parents to increase their Medicare Coverage during this 2020 Medicare Annual Enrollment Period which ends December 7. The survey reveals that 42% of those on Medicare have or will explore changing their current coverage.

These November findings go along with an October national survey of 1,000 U.S. adults on Medicare aged 65+. The survey asked seniors about their current Medicare plans and coverage, medical costs, telemedicine, as well as technology and social media habits:

Medicare Coverage & Annual Enrollment Period (AEP)

Seniors have one more week to make changes to their current Medicare plan. The October survey found that 70% have never adjusted their Medicare coverage in years past. However, the COVID-19 pandemic has many Americans taking a closer look at their healthcare plans:

  • 61% of seniors prefer to surf the internet to get information about Medicare plans and coverage.
  • 57% said it’s not difficult to find the right information about which Medicare plan is right for them.
  • 24% are consulting with family and friends.
  • 68% say they don’t trust online services that promise to help find the best Medicare plan.
  • 82% think prescription drug prices are too high.
  • 54% are worried about contracting COVID-19 because of the cost of care.

Embracing Telemedicine During COVID-19

The October survey revealed a 716% spike in telemedicine usage among seniors on Medicare during the COVID-19 pandemic. 49% reported using telemedicine during the past seven months with 1 in 4 using it more than once. 36% preferred to use their smartphones for these appointments. It looks as though telemedicine is here to stay, with 42% saying they will continue to use it on a regular basis when the pandemic is over.

Silver Techies

The October survey also found that seniors are not shying away from using the same technology as their kids and grandkids. 39% admit to binge-watching a streaming service, 76% text, and 35% have video chatted with children and/or grandchildren within the past month. However, they aren’t totally sold on cutting the cord; 60% watch cable news regularly.

A majority of seniors are hitting the “like” button; 71% said they use Facebook at least once a week, with 52% admitting to going on Facebook daily. However, with all these digital technologies available, 73% are worried about protecting their privacy.

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