Medicare Advantage Premiums Continue to Decline While Plan Choices and Benefits Increase in 2019
Today, the
"Medicare Part D and Medicare Advantage demonstrate the successes possible when we harness consumer choice and private-sector innovation to improve care and lower cost," said HHS Secretary
"The steps that the
The Medicare Advantage average monthly premium continues to steadily decline, and will be the lowest in the last three years. On average, Medicare Advantage premiums in 2019 is estimated to decrease by six percent to
Medicare Advantage will be offering approximately 600 more plans in 2019. The number of plans available to individuals to choose from across the country is increasing from about 3,100 to about 3,700 - and more than 91 percent of people with Medicare will have access to 10 or more Medicare Advantage plans, compared to nearly 86 percent in 2018. Access to the Medicare Advantage program remains strong, with about 99 percent of people with Medicare having access to a Medicare Advantage plan.
Medicare Advantage enrollment is projected to increase to an all-time high from the current enrollment of 20.2 million to 22.6 million in 2019, an 11.5 percent increase compared to 2018.
As a result of the new flexibilities on supplemental benefits available for the first time in 2019, about 270 plans are providing nearly 1.5 million enrollees with access to the following new types of benefits:
* Expanded health related supplemental benefits, such as adult day care services, in-home support services, caregiver support services, home-based palliative care and therapeutic massage; and
* Reduced cost sharing and additional benefits for enrollees with certain conditions, such diabetes and congestive heart failure, due to the agency's reinterpretation of uniformity.
The access to new supplemental benefits is a positive start for 2019, and CMS expects continued growth in 2020, as plans take advantage of these new flexibilities to attract new beneficiaries. In addition, more Medicare Advantage enrollees are projected to have greater access to important supplemental benefits such as dental, vision, hearing, over-the-counter items, meals, nursing hotlines and transportation for medical services (for example, doctor visits).
Access to the Medicare Part D prescription drug program remains universal in 2019 with 100 percent of beneficiaries having access to a stand-alone prescription drug plan. Earlier this year, CMS announced that, for a second year in a row, the average monthly basic Part D premiums are expected to fall from
As the 2019 Medicare Open Enrollment period approaches, CMS is continuing to improve the Medicare.gov website for Medicare plan selection, so beneficiaries can more easily compare options and choose the plan that best fit their needs. Medicare Open Enrollment for 2019 Medicare health and drug plans begins on
For a fact sheet on Medicare Advantage and Part D in 2019, please visit: https://www.cms.gov/newsroom/fact-sheets/2019-medicare-advantage-and-part-d-prescription-drug-program-landscape.
To view the premiums and costs of 2019 Medicare health and drug plans, please visit: https://www.cms.gov/Medicare/Prescription-Drug-Coverage/PrescriptionDrugCovGenIn/index.html.
For state-by-state information on Medicare Advantage and Part D in 2019, please visit: https://www.cms.gov/Outreach-and-Education/Reach-Out/Find-tools-to-help-you-help-others/MA-Part-D-Landscape-State-by-State.pdf
Res. Comm. Gonzalez-Colon Announces $113 Million in Federal Funds for Education, Jobs Generation, Expand Life of Landfills, Reimbursement for Emergency Measures
Insurance rates on Affordable Care Act exchange for Illinois stabilizing
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News