Connecticut Medicare Demographics
Agents need to be up to date on the latest trends for all aspects of marketing, educating, and enrolling beneficiaries in Medicare insurance policies. Medicare Advantage, Medigap, and Medicare Part D are all provided by private carriers who are accountable to the regulations from the Center for Medicare and Medicaid Services, and these regulations change yearly. In addition to keeping up with changes, it is helpful for an agent to know the demographics of their area. Understanding Connecticut Medicare demographics helps best serve clientele.
At last count, when the survey was conducted in 2021, over 700,000 people in Connecticut were enrolled in Medicare. That is a large number of people, particularly for such a small state; Medicare beneficiaries make up 19% of the state population. Of those 700,000 people, 363,399 of them enrolled in Original Medicare. In other words, 52% of the eligible population in Connecticut is enrolled only in Medicare Parts A and B. Medicare Advantage or other health insurance policies make up the remaining 48%. For agents, it may be helpful to think about these numbers like so: Over half of the eligible people in the state may need your help to choose an additional Medicare Advantage or other plan.
Understanding the Connecticut Medicare Demographics
However, Connecticut is among the states with the highest percentage of eligible people enrolled in a Medicare Advantage insurance plan. Part of this has to do with Connecticut having some of the strongest Medigap consumer protection laws in the nation. It also has to do with the widespread availability of Medicare Advantage plans. In 2023, all of the counties in Connecticut had access to 44 or more Medicare Advantage plans. Some counties had access to as many as 58 options.
In addition, there are 13 different insurers who offer Medigap plans in Connecticut. The state requires that all of those plans are guaranteed-issue and community-rated at all times. As for Medicare Part D or prescription drug coverage, there were 24 stand-alone plans available in 2023. Premiums tend to range from $7 a month to $124 a month, making them accessible to a wide-range of people on varied incomes. This is likely a factor in why over 40% of Connecticut Medicare beneficiaries have stand-alone prescription drug coverage.
Licensed Agents –
Learn about Advanced Diabetes Supply and more: Click here to see what Crowe and Associates has to offer
Keep up with all of our current events by clicking here.
Ready to contract? Begin here.
Subscribe to our YouTube channel. We provide weekly training webinars.
Leave a Comment