Research Finds Critical Gaps in Medicare Planning

Opportunities for Financial Professionals to Provide Guidance

Apr. 9, 2026 at 2:54am

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A high-contrast, close-up image of the intricate inner workings of a heavy banking machine, with gears, levers, and mechanisms filling the frame to symbolize the complex financial infrastructure underlying Medicare planning and retirement security.Detailed machinery and mechanisms of the financial system represent the complex infrastructure underlying Medicare planning and retirement security.Today in Birmingham

New research from Protective Life Corporation and Greenwald Research reveals significant knowledge gaps among both consumers and financial professionals when it comes to Medicare, highlighting the need for targeted education and integrated planning to improve retirement security.

Why it matters

This research shows that when financial professionals proactively engage clients on Medicare planning, they can ease client stress, build trust, and uncover new opportunities to deliver holistic retirement solutions. Addressing misconceptions about Medicare coverage is crucial, as many consumers incorrectly believe it covers long-term care.

The details

The research, based on surveys of 1,210 consumers ages 55-75 and 501 financial professionals, found that both groups overestimate their understanding of Medicare. Consumers averaged fewer than 4 correct answers out of 10 on a Medicare quiz, while financial professionals averaged 6. Yet nearly 80% of consumers want help with coverage, timing and costs, and only 15% have discussed Medicare with their financial professional. Emotional factors also play a major role, with confusion and anxiety dominating before enrollment and relief and security rising afterward.

  • The research was conducted in fall 2025.

The players

Protective Life Corporation

An Alabama-based insurance and financial services company that commissioned the research in partnership with Greenwald Research.

Greenwald Research

A research firm that partnered with Protective Life to conduct the survey-based study on Medicare knowledge and planning.

Aaron Seurkamp

President of the Protection & Retirement Division at Protective Life, who commented on the research findings and opportunities for financial professionals.

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What they’re saying

“Medicare planning isn't just about health coverage, it's about protecting retirement plans and deepening client relationships. This research shows that when financial professionals start the Medicare conversation, they ease client stress, build trust and uncover new opportunities to deliver holistic retirement solutions.”

— Aaron Seurkamp, President, Protection & Retirement Division

What’s next

Financial professionals seeking deeper insights into the research findings are invited to visit Protective's portal to access the full whitepaper.

The takeaway

This research highlights the critical need for financial professionals to proactively engage their clients on Medicare planning. By addressing knowledge gaps and misconceptions, they can help clients avoid costly mistakes, protect their retirement plans, and build deeper, more trusted relationships.