“Too many choices can overwhelm us and cause us to not choose at all. For businesses, this means that if they offer us too many choices, we may not buy anything.”
Most seniors face a dizzying array of options each year when it comes time to choose a Medicare health or prescription drug plan. Beneficiaries can select from an average of 18 health plans and 31 prescription drug plans. In South Florida, it seems they have 88 plan choices altogether.
While choice may sound like a good thing, many seniors say they find it difficult to compare plans. As a result, they often stick with the same plan even if it is not best suited to them, according to this new report from the Kaiser Family Foundation
Many seniors said they did not want to switch plans because the process was so frustrating, the report said. That can cost them money because companies change prices and benefits almost every year.