As retirees, Seniors are constantly on the hunt for the best deals to make their savings last. WellCare Health Plans, a service that offers resources to help Seniors review their Medicare plan launched their “Cost of Complacency” campaign to encourage a more thorough review of Medicare coverage. Kelton partnered with WellCare to conduct “The Cost of Complacency” study to find the most burdensome expenses for Seniors, as well as understand how and when they review their plan.
Through conducting an online survey to Seniors ages 65+, we uncovered startling stats that prove they may be leaving money on the table and putting themselves at financial risk. We found that even though two in five (40%) Seniors feel healthcare is a burdensome expense, 62 percent do not review their Medicare plan annually to find the best deals. In fact, Seniors are more likely to comparison shop for other household expenses such as groceries (54%), homeowners/automotive insurance (45%) or gas (44%) than their Medicare plan (33%).
Click on the links below to learn more about “The Cost of Complacency” study and the impact failing to annually review their Medicare plan can have on Seniors: