As Medicare’s annual open enrollment period begins, Medicare beneficiaries will find high-quality and affordable coverage options to choose from, including increasingly popular Medicare Advantage plans. The Centers for Medicare & Medicaid Services (CMS) estimates that nearly half of Medicare beneficiaries are choosing Medicare Advantage. CMS projects that a record-setting 31.8 million seniors and individuals with disabilities will make an active choice to enroll in Medicare Advantage in 2023.
As beneficiary preference for Medicare Advantage grows, Medicare Advantage is also covering an increasingly diverse population and supporting improved access to care. For example, enrollment among minority and dual-eligible beneficiaries has grown 111 percent and 125 percent, respectively, since 2013.
The Biden Administration recently announced that Medicare beneficiaries will see “lower premiums for Medicare Advantage and Medicare Part D prescription drug plans in 2023.” Specifically, according to the Centers for Medicare & Medicaid Services (CMS), the projected average premium for 2023 Medicare Advantage plans is $18 per month, a decline of nearly 8% from the 2022 average premium of $19.52.
Medicare Advantage plans will continue to offer a wide range of supplemental benefits in 2023 not offered in Medicare Fee-For-Service (FFS), including eyewear, hearing aids, preventive and comprehensive dental benefits, access to meals, over-the-counter items, and fitness benefits.
Medicare Advantage continues to provide superior outcomes to beneficiaries in comparison to Medicare FFS. For example, MA beneficiaries experience a 43% lower rate of avoidable hospitalizations for any condition and 21% higher rate of seeing a physician within 14 days of a hospital discharge compared to Medicare FFS.
Amid this backdrop of the value Medicare Advantage is providing seniors, we were discouraged to read a misleading and incomplete story included in last week’s New York Times regarding Medicare Advantage payment and coding practices.
As longtime healthcare advocates and leaders of the Better Medicare Alliance (BMA) and the American Medical Group Association (AMGA) respectively, we bring unique perspectives and insights on the value of Medicare Advantage and how it is working effectively to meet the healthcare needs of Medicare beneficiaries.
As Medicare’s annual open enrollment period begins, Medicare beneficiaries will find high-quality and affordable coverage options to choose from, including increasingly popular Medicare Advantage plans. The Centers for Medicare & Medicaid Services (CMS) estimates that nearly half of Medicare beneficiaries are choosing Medicare Advantage. CMS projects that a record-setting 31.8 million seniors and individuals with disabilities will make an active choice to enroll in Medicare Advantage in 2023.
As beneficiary preference for Medicare Advantage grows, Medicare Advantage is also covering an increasingly diverse population and supporting improved access to care. For example, enrollment among minority and dual-eligible beneficiaries has grown 111 percent and 125 percent, respectively, since 2013.
The Biden Administration recently announced that Medicare beneficiaries will see “lower premiums for Medicare Advantage and Medicare Part D prescription drug plans in 2023.” Specifically, according to the Centers for Medicare & Medicaid Services (CMS), the projected average premium for 2023 Medicare Advantage plans is $18 per month, a decline of nearly 8% from the 2022 average premium of $19.52.
Amid this backdrop of the value Medicare Advantage is providing seniors, we were discouraged to read a misleading and incomplete story included in last week’s New York Times regarding Medicare Advantage payment and coding practices.
As longtime healthcare advocates and leaders of the Better Medicare Alliance (BMA) and the American Medical Group Association (AMGA) respectively, we bring unique perspectives and insights on the value of Medicare Advantage and how it is working effectively to meet the healthcare needs of Medicare beneficiaries.
