If you’re looking for a Medicare Advantage plan this year, you might wonder which one is ideal. This will rely on various things, including your financial situation, medical requirements, and needs.
You can use resources to identify Medicare Advantage plans in your area that can accommodate all of your medical requirements. For Americans 65 and older, Medicare Advantage, commonly known as Medicare Part C, is a well-liked type of health insurance.
How Do You Find A deal Medicare Advantage Plan?
Some treatments not covered by traditional Medicare, such as dental, hearing, and vision care, may be covered through Medicare Advantage plans.
There are often a number of Medicare Advantage plans available in your area if you decide to receive your Medicare coverage from a private insurer through one of these programs. According to the Kaiser Family Foundation, there will be 39 Medicare Advantage plan options available to the average Medicare recipient in 2022. Plans can differ in terms of premiums, copayments for medical and medication coverage, pharmaceuticals that are covered, and provider networks.
When selecting a plan, take into account the price and coverage for your regular medical requirements, prescription drug coverage, major medical coverage, and the network of doctors, hospitals, and other institutions the plan covers. Using Medicare’s Plan Finder, you may learn more about the prices and benefits for all of the Medicare Advantage plans in your neighborhood.
Keep reading if you want to learn which Medicare Advantage is best for you. Below we have listed top Medicare advantage provider companies.
1. UnitedHealthcare.
The largest Medicare Advantage network of any company, with more than 1 million network healthcare providers, is provided by UnitedHealthcare.
Most Medicare Advantage plans are offered by UnitedHealthcare, which has plans in almost all counties in the United States. Together with AARP, UnitedHealthcare ensures the Medicare products that bear the AARP brand. Although member satisfaction ratings for UHC are lower than those for several other providers, many of its members are enrolled in highly rated plans.
Pros:
- Most (95%) of UnitedHealthcare Medicare Advantage subscribers whose contracts have a Medicare star rating are in 4-star or above contracts.
- UnitedHealthcare provides both annual home health visits and copay-free telemedicine appointments.
- UHC members can consult with knowledgeable advocates and care coordinators if they have concerns about their medical care.
Cons:
- UnitedHealthcare scored lower than the industry average in J.D. Power’s 2021 Medicare Advantage Study, which examined member satisfaction despite being a major player in the sector. In a comparison of nine suppliers, UHC tied for sixth place.
2. Aetna
Aetna Medicare members get access to a range of extra services, including in-home health visits and meal delivery following a hospital stay and cost assistance for dental, eye, and hearing care.
The fourth-largest provider of Medicare Advantage plans is Aetna, a CVS Health business. Most of Aetna’s plans offer cost assistance for dental, vision, and hearing care and may include extras. Companionship benefits in eight states, a free over-the-counter benefit that allows you to purchase items like vitamins and cold treatments from pharmacies or online, and concierge services to help members locate neighborhood resources and activities are just a few of the significant Aetna perks.
Pros:
- According to Aetna, 84% of Medicare-eligible Americans have access to an Aetna Medicare Advantage plan with a $0 payment.
- Some of the nation’s most affordable stand-alone Medicare prescription medication plans are provided by Aetna.
- For the same price as a typical visit to a primary care physician or PCP, Aetna gives members enrolled in plans that don’t mandate a PCP visit the option to visit one of a network of walk-in clinics or MinuteClinic. Walk-in locations are part of this network, which spans 33 states and Washington, D.C.
Cons:
- The average Medicare star rating for Aetna Medicare Advantage plans is 3.8 out of 5. (In 2022, the average cost across all suppliers will be 4.37.)
In J.D. Power’s 2021 Medicare Advantage Study, Aetna tied for sixth place overall out of nine Medicare Advantage providers ranked.
Only health maintenance organization (HMO) and preferred provider organization (PPO) plans, usually referred to as HMOs and PPOs, as well as special needs plans, or SNPs, are provided by Aetna. Private fee-for-service or medical savings account plans are not available to members.
3. Kaiser Permanente
A standout characteristic is that Kaiser consistently receives the highest Medicare star ratings and ranks first among nine providers regarding member satisfaction.
With nearly 1.8 million people enrolled in Medicare Advantage plans in 2022, Kaiser Permanente will rank as the fifth-largest provider. The integrated care approach used by Kaiser, the largest not-for-profit health maintenance organization in the United States, allows members to receive all their care in one location and connects all of their doctors. Only eight states and Washington, D.C. offer Kaiser insurance.
Pros:
- In J.D. Power’s 2021 U.S. Medicare Advantage Study, Kaiser Permanente received 846 out of 1,000 possible points, placing it first out of nine providers in terms of customer satisfaction.
Only seven Medicare health plans—four of which are Kaiser Permanente plans—received a 5 out of 5 rating from the National Committee for Quality Assurance.
Cons:
- Most adults in the United States cannot obtain Kaiser Permanente plans since they are only offered in eight states and Washington, D.C. (Kaiser offers its insurance products in the states of California, Colorado, Georgia, Hawaii, Maryland, Oregon, Virginia, and Washington.)
- Members must use the medical providers in Kaiser’s network because the company only provides HMO plans.
4. Humana
The business claims that more than half its members are enrolled in a $0-premium plan, which Humana offers in 47 states and Puerto Rico.
The second-largest provider of Medicare Advantage plans, Humana is also the most extensively offered and provides $0-premium plans in almost all states in the United States. The plan’s members are overwhelmingly enrolled in highly rated plans, and the company’s average Medicare star rating is 4.1 out of 5.
Pros:
- More Americans have access to Humana’s plans than any other provider because it sells insurance in 85% of U.S. counties.
98% of current Humana Medicare Advantage members are enrolled in a plan with a 4-star or higher rating (out of 5) from the Centers for Medicare & Medicaid Services, CMS.
The Humana Pharmacy mail delivery service, which J.D. Power ranks first in customer satisfaction for the fourth consecutive year, is accessible through Humana plans.
Cons:
- According to J.D. Power’s 2021 Medicare Advantage Study, Humana performs only marginally better than the industry average. Several of its plans received ratings from the National Committee for Quality Assurance of 3 or worse (out of 5).
Special needs plans offered by Humana are less numerous than its other plans. Only 15 states have access to the company’s Chronic Condition SNPs, whereas 29 states do so for Dual-Eligible SNPs.
5. Highmark
Highmark receives high customer satisfaction ratings from J.D. Power and high Medicare star ratings from the CMS.
Highmark is part of the Blue Cross Blue Shield network, consisting of 35 separate businesses and the third-largest Medicare Advantage plan supplier. Highmark’s plans are highly rated and recognized for member satisfaction among Blue firms.
Pros:
- With a score of 834 out of 1,000, Highmark is ranked second among the nine Medicare Advantage providers (including three Blue Cross Blue Shield organizations) in J.D. Power’s 2021 U.S. Medicare Advantage Study. Additionally, it is the top Blue on the list.
- The average Medicare star rating for Highmark’s Medicare Advantage contracts is 4.8 out of 5.
Cons:
- Only four states—Delaware, New York, Pennsylvania, and West Virginia—are covered by Medicare Advantage plans offered by Highmark.
- Only HMO and PPO plans are offered by Highmark Medicare Advantage. People with specific diseases or chronic ailments cannot access special needs plans.
The best way to compare Medicare Advantage plans
- The best Medicare Advantage plan for you will rely on various factors, including your medical history, current prescriptions, and where you live. The following are some methods for picking the optimal plan:
- Verify the star ratings. To provide a star rating to Medicare Advantage plans, the CMS gathers information from member surveys, the plans themselves, and healthcare providers. The star rating is given on a scale of 1 to 5, with 5 being the finest.
- Evaluate out-of-pocket expenses. Each plan will have a monthly premium (many Medicare Advantage plans don’t have a monthly premium) and an annual maximum out-of-pocket cost for approved medical expenses.
- Consider your medications. Your prescription drugs can seem like an afterthought, but it’s essential to find out how each plan will cover them.
- Find your doctors. Look for plans that include the caregivers and medical facilities on your preferred and used providers list.
- A PPO plan is better if you frequently visit specialists and don’t want to request a referral for each appointment. An HMO can be more economical for you if you only sometimes utilize medical services and see your primary care doctor.
Conclusion
Which Medicare Advantage plan you select depends on a variety of criteria. Consider your priorities and medical requirements, your financial situation, the CMS star rating, and the kind of insurance you presently have.
To guarantee that you have access to medical insurance after turning 65, it’s crucial to sign up for Medicare before that age. Remember that you have the freedom to compare Medicare Advantage plans to find the one that best meets your needs.