You may be seeing some new and better Medicare Advantage choices available in your area.
That’s because a number of large health insurance companies are making a major push to expand their Medicare Advantage service areas into hundreds of new counties. At the same time, they continue to seek to differentiate themselves by adding new, innovative benefits, and expanding popular features like “zero premium” plans.
During the 2023 Medicare open enrollment period, which runs from Oct. 15 through Dec. 7, you may want to be on the lookout for more offerings available to you.
About Medicare Advantage
Medicare Advantage — also called Medicare Part C — is a system of competing companies who contract with the government to create managed care organizations to provide health services to Medicare beneficiaries.
Because managed care organizations such as HMOs rely on contracting discounted rates with local providers to reduce costs, Medicare Advantage plans have a defined service area and regional footprints.
But now, some of the largest insurers in the country are expanding their Medicare Advantage offerings:
- Aetna will be offering Medicare Advantage in 139 new counties in this year’s open enrollment, across 47 states and the District of Columbia.
- United Healthcare is expanding to 184 new counties across 49 states.
- Elevance (formerly Anthem) is expanding to 210 new counties.
- Humana is broadening its offerings to two new states and 140 new counties.
Meanwhile, Medicare Advantage plans are offering new supplemental benefits to help certain Medicare beneficiaries with chronic medical conditions.
Availability varies by carrier and location, but includes:
- Transportation assistance
- Home remodeling
- Grocery delivery services
- Housekeeping
- Personal assistants.
Medicare Advantage enrollees may also have access to Special Needs Plans, which include more focused care networks for specific conditions and circumstances.
These new benefits and programs are only available via Medicare Advantage. Not under Original Medicare, nor via standard Medicare supplement (Medigap) plans.
Check your options
You’ll have a chance to shop for a new Medicare Advantage plan during the annual open enrollment period. This is the only time during the year that all Medicare beneficiaries have a guaranteed right to join the Medicare Advantage plan of their choice.
Note: If you’re already enrolled in a Medicare Advantage plan, there’s a Medicare Advantage open enrollment period from Jan. 1 through March 31. During this window, you can make one switch to a new Medicare Advantage plan. You may also add a drug plan, or drop Medicare Advantage and return to Original Medicare during this period.
To take advantage of new Medicare Advantage plans and benefits offered in your area, you must enroll during one of these open enrollment periods.
Otherwise, you’ll need to wait until next year, unless you qualify for a special enrollment period due to a qualifying life event, such as moving to a new city or entering a nursing home.
What to do now
Medicare Advantage plans change over time. Your current plan may roll back benefits, increase prices or change its drug formulary.
Your medical needs change over time, too.
And, of course, carriers may be offering new plans in your area.
Call us for a review during open enrollment at 720-985-1213 so you can be sure that you’re in the plan that best suits your needs.
