Major Expansions, Rich Benefits Will Drive Competitive AEP

Today's Featured Story Major Expansions, Rich Benefits Will Drive Competitive AEP by Lauren Flynn Kell As the 2022 Annual Election Period (AEP) approaches, CMS expects the Medicare Advantage program to continue its upward trajectory, with enrollment climbing 10% to an estimated 29.5 million people next year while average monthly premiums will drop by more than $2 to $19, according to agency projections. More MA organizations are expanding their Dual Eligible Special Needs Plan (D-SNP) presence and testing benefit innovations through the Part D Senior Savings Model (SSM) and MA Value-Based Insurance Design (VBID) model in 2022, CMS said on Sept. 29. MA options increase: According to a CMS state-by-state fact sheet based on the 2022 MA and Part D Landscape files, 29 states will see double-digit increases in the number of available MA plans. Participation in the insulin-focused SSM will rise nearly 40% from 76 sponsors offering 1,635 plans in 2021 to 106 sponsors featuring the benefit in 2,159 plans in 2022, including stand-alone Prescription Drug Plans (PDPs) and MA Prescription Drug (MA-PD) plans. After lagging participation in the early years of the VBID model, 34 MAOs will offer VBID Plan Benefit Packages (PBPs) in 2022, up from 19 MAOs in 2021. Most states will also see an increase in PDP options and a drop in average stand-alone Part D premiums, with 56 plans featuring monthly premiums under $10. Major insurers drive competition: CVS Health Corp.-owned Aetna will offer MA-PD plans in 83 new counties across the country for a total of 1,875 counties in 2022. There will be more D-SNP offerings across 27 states, including new markets in Arkansas, Colorado, Delaware and Indiana. Centene Corp. will increase its MA offerings by 26% to enter 327 new counties and three new states: Massachusetts, Nebraska and Oklahoma. Cigna Corp. will enter 108 new counties, including 23 new D-SNP counties and territories in three new states. The insurer said it will offer plans in 477 counties across 26 states and the District of Columbia. Humana Inc. said it will launch 72 new plans — 42 MA-PD plans, three MA-only offerings and 27 SNPs — across "hundreds of additional U.S. counties." MA market leader UnitedHealth Group will expand its service area by 276 additional counties to reach 94% of Medicare consumers nationwide, estimated the company. From RADAR on Medicare Advantage Subscribers may read the in-depth article online. Learn more about subscribing to AIS Health's publications.