In an analysis of recent Medicare data from the Centers for Medicare and Medicaid Services (CMS), the Kaiser Family Foundation (KFF) found an increase in the size and number of Medicare Advantage plans for 2020, according to an article on the KFF website.
Medicare Advantage—a private plan alternative to traditional Medicare—currently enrolls 22 million Medicare beneficiaries, according to KFF. In 2020, there will be an increase of 414 plans for consumers to choose from, an average of 28 plans to choose from for the average consumer. The number of Special Needs Plans will increase from 717 to 855 from 2019-2020.
Other findings include the variance in plans—an average of 31 plans to choose from in metropolitan areas to 16 in non-metropolitan areas—as well as the number of market entrants and exits, which will average over 100 firms offering Medicare Advantage, according to KFF’s analysis. Nearly all Medicare beneficiaries (97%) will have access to an Advantage plan that includes hearing, dental, fitness, and vision benefits not covered by a traditional plan. Less commonly offered benefits include bathroom safety, in-home support, caregiver support, and telemonitoring services.
To read the article in its entirety, please click here.
Source: KFF
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