What Is New For Medicare Advantage Plans In 2010?
The Centers for Medicare and Medicaid Services (CMS) recently released information about the Medicare Advantage plans that will be available in 2010.
On average, Medicare beneficiaries will be able to choose from more than 30 Medicare Advantage plans in 2010, some will have as many as 73 Medicare Advantage plans offered in their area, in addition to traditional Medicare. The mix of Medicare Advantage plans offered will change as carriers respond to current and anticipated program changes.
Between 2009 and 2010, the total number of Medicare Advantage plans has declined by 18 percent, with mostly fewer Private Fee-For-Service (PFFS) plan offerings. Health Maintenance Organizations (HMOs) remain the most common type of Medicare Advantage plans in 2010. Firms withdrawing from the PFFS market (such as Coventry and HealthNet) are continuing to offer coordinated care plans (mainly HMOs) and new plans of various types. Some firms, like Kaiser Permanente, are making no changes in their offerings in 2010. Kaiser Permanente will continue to offer only HMO and cost plans.
Fewer MA-PD enrollees will be in plans with no premium in 2010 than in 2009, if they stay in their plans (a decline from 50 percent in 2009 to 43 percent in 2010). However, a plan with no premium does not necessarily represent the best value for enrollees because out-of-pocket costs are affected by a combination of premiums, covered benefits and cost-sharing requirements.
Beneficiaries who decide to remain in their same Medicare Advantage plan in 2010 can expect premium increases of, on average 32, percent, although the magnitude of the increase will obviously vary from plan to plan. Premiums are rising faster for some types of Medicare Advantage plans than others.The average weighted premium for continuing MA-PDs increased 22 percent for HMOs, 37 percent for local PPOs, 55 percent for regional PPOs, and 78 percent for PFFS plans in 2010.
Thus, beneficiaries may find it in their interests to review and compare Medicare Advantage Plan options each year, taking into account premiums, benefits, cost-sharing, and provider networks, to select the option most likely to meet their individual needs and circumstances.
More Articles About Medicare Advantage
- Medicare Advantage Plans
- Am I Eligible For A Medicare Advantage Plan?
- What Is New For Medicare Advantage Plans In 2010?
- Do I Have Medicare Part D Coverage With A Medicare Advantage Plan?
- Can I Cancel Or switch to A Different Medicare Advantage Plan?
- Does A Medicare Advantage Plan Work With My Medicare Supplement Plan?
- What Happens To My Medicare Supplemental Insurance If I Enroll In A Medicare Advantage Plan?
- What If My Medicare Advantage Plan Is Discontinued In 2010?
- Can I Enroll In A Medicare Advantage Plan If I have Already Other Health Insurance Coverage?
- How Much Are Medicare Advantage Plans 2010?
- How Can I Enroll In A Medicare Advantage Plan?
