Growth is also spurred by strong enrollment in employer retiree Medicare Advantage plans, known as Employer Group Waiver Plans (EGWPs). Employers such as state and local governments, industries, and unions chose EGWPs to provide health insurance coverage to its retirees. Enrollment in Medicare Advantage is, in part, driven by increased access to Medicare Advantage plans. In 2021, Medicare beneficiaries have access to over 4,800 plans offered across the country, an increase of 2,100 from 2017. Of the 4,800 plans offered, 2,900 are in rural counties. Medicare Advantage’s framework provides the flexibility to cover more services and benefits not available in Traditional FFS Medicare. Medicare Advantage beneficiaries choose plans based on cost of premiums and beneficiary cost-sharing, enhanced benefits, provider networks, and the plan’s quality rating. State of Medicare Advantage Key Facts
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State of Medicare Advantage 2021
Posted by www.psmbrokerage.com Admin on Mon, May 24, 2021 @ 04:11 PM
Tags: Medicare Advantage News