FEWER MEDICARE ADVANTAGE PLANS IN 2014 The number of plans will drop to 2,522, which is around a 5% decrease. Though the number of plans are decreasing, more beneficiaries are choosing Medicare Advantage (MA) plans. For the fourth straight year enrollment is projected to increase. Since 2010, enrollment in Medicare Advantage has jumped by 28% since the Affordable Care Act was enacted in 2010. Factors for the drop in MA plans include continued phase-in of payment cuts under the Affordable Care Act, modifications to the CMS risk-adjustment model, implementation of new medical loss ratio requirements for Medicare Advantage, and application of the new health insurer fee. A majority of the counties across the country will see a decrease in the number of MA plans available from 2013 to 2014. Approximately 80 percent of counties in the South and Midwest will see a reduction in MA plan options, while slightly more than half of the counties in the Northeast and West will have fewer plan options. There will be a 13% drop in Special Needs Plans (SNPs) in 2014 and HMO offerings are expected to grow while Preferred Provider Organization offerings will decline.
Posted on: Wed, 02 Oct 2013 10:42:01 +0000
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