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GoHealth leveraging proprietary technology to help consumers navigate an unprecedented Annual Enrollment Period, as new data shows millions of Medicare beneficiaries face significant plan disruption
About 6 million Medicare Advantage beneficiaries are estimated to be affected by plan degradation, while about 2 million more to see plan exits - a first in
About this update from Gohealth, Inc.
[{"type":"text","content":"About 6 million Medicare Advantage beneficiaries are estimated to be affected by plan degradation, while about 2 million more to see plan exits - a first in Medicare Advantage history\nCHICAGO, Oct. 15, 2024 (GLOBE NEWSWIRE) -- As the Medicare Annual Enrollment Period (AEP) begins, GoHealth, Inc. (NASDAQ: GOCO), a leading health insurance marketplace and Medicare-focused digital health company, today announced the launch of AI and proprietary technology tools dedicated to increasing efficiency and improving consumer experience. This new technology is designed to ensure ‘peace of mind’ for consumers with their healthcare decisions, amidst new data from GoHealth suggesting that millions of Medicare Advantage beneficiaries are expected to experience an unprecedented period of disruption this AEP. In an analysis of more than 5,000 Medicare Advantage plans from top health insurers, GoHealth found that an estimated 6 million Medicare Advantage beneficiaries are expected to face plan degradation, an erosion of benefits offered within their specific plan. Furthermore, according to Deft Research, an estimated 2 million are expected to be affected by plan exits, which means carriers will no longer be offering that plan within a specific county. “Medicare Advantage beneficiaries are staring down a truly unprecedented enrollment period. This AEP will present unique industry and market dynamics, including a reduction in marketing capacity across the broker industry, combined with strong demand for Medicare Advantage shopping and appropriate switching,” said GoHealth CEO Vijay Kotte. “Individuals are going to see fewer options, higher costs, and diminished benefits. GoHealth has thousands of licensed, trusted agents with the tools necessary to provide clear personalized advice to help beneficiaries make the best decision that benefits their future.” Additional GoHealth research reveals the significance of choosing the right Medicare plan. Most beneficiaries likened purchasing a plan to that of buying a house or a new car. Like those higher-stakes purchases, 44% of beneficiaries preferred to be presented with 2-3 options before making a decision, while an additional 40% said they preferred to review all options.Moreover, 46% of those surveyed said that the availability of better plans was the top reason they would consider changing their Medic...