·
Beneficiaries
with Medicare Advantage (MA) typically receive better value and spend nearly 40
percent less than those in Medicare Fee-for-Service (FFS)
·
Seniors
enrolled in MA can save $50,000 to $85,000 over their lifetime
·
MA
plans provide additional, high-value services that reduce health care costs and
improve outcomes
January 21, 2020 10:00
AM Eastern Standard Time
MINNETONKA, Minn.--(BUSINESS WIRE)--Beneficiaries enrolled in Medicare
Advantage (MA) plans typically spend nearly 40 percent less than beneficiaries
in Medicare Fee-for-Service (FFS) programs, according to new research released today by UnitedHealth Group (NYSE:UNH).
The research found that the average annual
health care costs for a 72-year-old MA beneficiary of average health are
$3,632, compared to up to $5,960 for Medicare FFS beneficiaries. Over their
lifetime, seniors enrolled in Medicare Advantage can save $50,000 to $85,000.
Those savings and protections are especially
important since half of Medicare beneficiaries live on fixed annual incomes
below $27,000.
The Cost Difference between FFS and MA
A typical beneficiary enrolled in MA with Part
D prescription drug coverage spends:
·
$1,477 less than
beneficiaries enrolled in FFS and Part D coverage;
·
$1,809 less than
beneficiaries who purchase Medigap Plan G as supplemental coverage for
out-of-pocket costs; and
·
$2,328 less than
beneficiaries who purchase Medigap Plan F as supplemental coverage.
An average beneficiary who chooses an MA-PD
plan pays between $1,265 and $1,918 less than a 65-year-old FFS beneficiary in
average health. Choosing an MA-PD plan offers savings, regardless of age.
The Coverage Difference Between FFS and MA
Medicare Advantage plans offer all the same
benefits as Medicare FFS, while including additional protections and benefits,
not covered by Medicare FFS, that help beneficiaries stay healthy, improve care
outcomes, and avoid unforeseen medical costs.
In addition to covering 6 percent more of the
cost of hospital stays and physician office services than FFS, MA plans also
include Part D prescription drug coverage, caps on annual out-of-pocket costs,
and care management programs. Most plans also include dental, vision, and
hearing coverage. MA beneficiaries with chronic conditions receive more
preventative care and experience fewer emergency department visits and lower
rates of avoidable hospitalizations compared to FFS beneficiaries.
Read more about the research at www.unitedhealthgroup.com.
About UnitedHealth Group
UnitedHealth Group (NYSE: UNH) is a
diversified health care company dedicated to helping people live healthier
lives and helping make the health system work better for everyone. UnitedHealth
Group offers a broad spectrum of products and services through two distinct
platforms: UnitedHealthcare, which provides health care coverage and benefits
services; and Optum, which provides information and technology-enabled health
services. For more information, visit UnitedHealth Group at www.unitedhealthgroup.com or follow @UnitedHealthGrp on
Twitter.
Contacts
UnitedHealth Group Caroline
Landree
caroline.landree@uhg.com, 651-308-2481
caroline.landree@uhg.com, 651-308-2481
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