In 2021, more than 26 million Americans were enrolled in Medicare Advantage plans.
This represented 42% of the total Medicare population, according to the Kaiser Family Foundation.
The average Medicare beneficiary in 2021 had access to 33 Medicare Advantage plans where they resided, according to the nonprofit health organization that analyzes health care trends. This is the largest number of plans available over the past decade. And benefit plan enrollments have doubled in the past 10 years.
Enrollment in Medicare Advantage plans is open until December 7.
What is a Medicare Advantage Plan, also known as Medicare Part C?
Medicare Advantage is a type of private health insurance plan that provides Medicare-like benefits through a private sector health insurer.
The plans are often different, allowing the recipient to choose a plan that best suits their needs. Advantage plans also often offer drug plans, often referred to as Medicare Part D prescription drug plans.
Seniors can choose either traditional health insurance or a benefit plan for their health care.
In order to help seniors who want a benefit plan over traditional health insurance, the Centers for Medicare & Medicaid this month released their 2022 star rating for benefit plans. Medicare for parts C and D.
Plans are rated on a scale of one to five. One star represents a poor score and five stars represents excellent performance.
“The Medicare Advantage and Part D Star Ratings are important tools in the toolkit that beneficiaries can use when considering Medicare coverage options,” CMS administrator Chiquita Brooks-LaSure told the site. Agency web. “CMS’s annual reviews provide meaningful information about the quality of each plan to help people on Medicare make informed health care decisions. “
The Medicare website also allows seniors to compare benefit plan costs, star ratings, benefits, and comparisons to traditional Medicare.
The website for the plans is Medicare.gov. Then click Search 2022 Medicare and Drug Plans to start the comparisons.
According to the Centers for Medicare and Medicaid Services, benefit plans get higher star ratings. The star rating reflects the experiences of people enrolled in Medicare Advantage and Part D prescribing plans.
About 68% of Medicare Advantage plans that offer prescription drug coverage will have an overall rating of four stars or more in 2022. In 2021, 49% of these plans had four stars or more.
Approximately 90% of those enrolled in benefit plans with prescription coverage are enrolled in plans that have received four stars or higher.
Several websites offer information on plans available in your area, such as eHealth and MedicareAdvantage.com. But there are many more.