The firm sees less
issuer excitement about plans that cost more than $50 per month.
The 2020 Medicare Advantage plan market may be
a lot like the 2019 market — except that the issuers are offering more
plans with no out-of-pocket premium costs for the enrollees.
Analysts from Mark Farrah Associates
have reported that finding in a new analysis of the Medicare plan issuer
data released by the Centers for Medicare and Medicaid Services (CMS).
The annual enrollment period for 2020 started
Tuesday and is set to end Dec. 7.
The Medicare Advantage program gives private
issuers a chance to provide an alternative to CMS “Original Medicare” coverage.
Issuers can collect a combination of CMS subsidy money and enrollee premium
payments, or they can rely solely on money from CMS.
The total number of separate Medicare
Advantage plans offered for the 2020 plan year has increased to 3,534, up 15%
from the total for the 2019 plan year, according to the Mark Farrah analysts.
The share of plans with a zero-dollar premium
increased to 49% for the 2020 coverage being sold now, from 45% for the
2019 plan year.
Here’s what happened to the actual number of
plans offered in four monthly premium categories:
·
$0: Increased 25%, to 1,724
·
$1-$50: Increased 10%, to 910
·
$51-$100: Increased 1.1%, to 520
·
$100
and over: Increased 3.6%,
to 374
Resources
Links to the Mark Farrah Medicare Advantage
market reports for 2019 and 2020 are available here.
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