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A new MedicareWire report shows that Medicare Advantage plan offerings are up for the third straight year. More than 22 million Medicare beneficiaries enrolled in a Medicare Advantage plan in 2019, a full 34% of those eligible for the health insurance program. The new report offers a brief overview of the Medicare Advantage program for plan year 2020, based on MedicareWire’s analysis of the Centers for Medicare and Medicaid Services (CMS) data files.
The full report is available at: https://medicarewire.com/blog/medicare-advantage-2020-by-the-numbers/
According to David Bynon, founder at MedicareWire.com, “There are 3,148 private health plans available under the Medicare Advantage program for plan year 2020. This represents an increase of 414 plans over 2019, marking three straight years of steady growth. On average, beneficiaries can choose from a pool of 28 plans in their area in 2020, up from 24 in 2019.”
The news is not so rosy for all Medicare beneficiaries. The MedicareWire report shows a significant disparity in the number of Medicare Advantage plans in urban vs. rural areas. Counties with large urban populations enjoy an average of 31 plans, whereas rural counties average just 16 options. For 77 of the 3,200 U.S. counties, no plans will be offered in 2020, including the entire state of Alaska.
Carriers of all sizes are expanding their operations into new markets. Cigna expanded its Medicare Advantage plan lineup in dozens of new counties, making it a fierce competitor for Medicare insurance giants United Healthcare and Humana.
United Healthcare (UHC), which runs the nation’s largest Medicare Advantage network, is offering more than 100 new plans as it expands into 100 new counties. In 2020, 90% of beneficiaries will have a UHC plan option. UHC is also making telehealth (virtual doctor visits) available on most of its plans, giving Medicare patients access to care providers through a smartphone or computer for minor health issues, often at no cost.
The largest expansion in 2020 is coming from Humana, which is expanding its HMO plan offerings into 160 new counties and introduced PPO plans in 172 new counties. Most of Humana’s 2020 Medicare Advantage plans include dental, hearing and vision coverage, fitness program memberships, home-delivered meals following an inpatient hospital stay, and an allowance for over-the-counter personal care items, at no additional cost. Plus, Humana launched a new Medicare Advantage plan, called Humana Honor, that’s designed with U.S. military veterans in mind.
The Medicare Advantage program also includes Special Needs Plans (SNP) for Dual-Eligible (Medicare/Medicaid) beneficiaries, people with chronic health conditions, and institutional beneficiaries. The report found that Medicare Special Needs Plans grew to 855 plans in 2020, up from 717 in 2019. Fueling this growth is the need for long-term care, which isn’t covered by Original Medicare.
The Centers for Medicare and Medicaid Services now lets Medicare Advantage plans offer long-term care services. Medicaid typically offers long-term care coverage for those who qualify, however, you have to be eligible for Medicaid, which is only for low income people. Medicaid coverage includes assisted living, nursing home care and in-home care, but the same level of long-term care coverage isn’t available in Original Medicare.
To learn more about Medicare Special Needs Plans and what they cover, see: https://medicarewire.com/special-needs-plans/
Release ID: 88933301