Medicare Advantage Majority, or MAM’s first national survey found caregivers across the country credit Medicare Advantage, or MA, with easing their caregiving responsibilities and providing stability for the seniors they support. November is National Family Caregivers Month. Darren Grubb, a spokesperson with MAM, said more than 80 percent of caregivers are satisfied with the coverage and care MA provides for the senior they support.
“The survey shows that the comprehensive benefits and offerings are also making the lives of caregivers easier. Saving time and saving money. And insuring the stability of seniors that caregivers support,” said Grubb.
According to the survey, almost 70 percent of caregivers say MA plans make their caregiving responsibilities easier to manage than traditional Medicare.
Grubb said Medicare Advantage saves caregivers five to ten hours every month and more than $1,000 annually. Caregivers with children reported higher savings of time and money.
“87 percent of caregivers are aware of the benefits and the features of a Medicare Advantage plan. And a similar number, 82 percent, are very satisfied with the coverage and the care provided. So again, Medicare Advantage provides significant peace of mind and helps millions of families balance the multiple responsibilities they have. Caring for their own families, but also caring for an aging parent or an aging family member,” said Grubb.
Last July, President Trump passed a new law restricting cost negotiations on high-spending drugs that will lead to higher out-of-pocket costs for traditional Medicare beneficiaries. Grubb said Medicare Advantage provides prescription drug coverage and has a cap on out-of-pocket costs.
Grubb said despite high satisfaction rates and continued strong enrollment, there was talk of cutting MA during recent budget reconciliations. According to MAM’s survey, more than 90 percent of caregivers would be willing to take action to protect MA funding for seniors. Almost 60 percent would be less likely to vote for a member of Congress who supported cutting funding for the effort. When deciding what kind of Medicare is best for them, Grubb said people should consult their health providers in assessing the coverage they need.