People who have a strong understanding about health insurance and how it works are more likely to enroll in Medicare Advantage than people who don’t, according to a new study.
They are also more likely to select lower-cost plans that also have high Medicare Advantage star ratings (a ranking of plans based on their quality of care and customer service), according to the study that was published in the Journal of American Medicine Association’s Network Open.
The study also found that a poor understanding of health insurance leads to high costs for Medicare enrollees or poor-quality coverage choices.
The findings illustrate the importance of doing your research and reaching out to us to help you make a more informed decision about your Medicare options. The findings also drive home the fact that if you don’t make informed decisions about your coverage, your pocketbook and your health may suffer. High ‘Health Insurance Literacy’ Tied to Better Medicare Choices