What Are Major Payers Offering Medicare Advantage Members in 2024?
UnitedHealthcare, Humana, Cigna, and Aetna are aiming to keep premiums and prescription drug costs low for Medicare Advantage beneficiaries in 2024.
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- As Medicare’s open enrollment period approaches, payers have announced new Medicare Advantage plan offerings for 2024.
Because Medicare Advantage plans receive flexibility to cover benefits beyond the traditional Medicare offerings, plans have an opportunity to differentiate themselves from their competitors with new benefits. In their 2024 offerings, major payers prioritized $0 monthly premiums, low-cost prescription drug coverage, and benefits addressing social determinants of health.
UnitedHealthcare, Humana, Cigna, and Aetna represent 18.3 million members and 60 percent of the Medicare Advantage market, according to estimates from KFF. Their new benefits provide insight into what payers are prioritizing in senior healthcare and their growing footprints can affect the Medicare Advantage payer landscape and consumers’ plan options.
UnitedHealthcare
UnitedHealthcare is expanding its coverage area to reach 96 percent of all Medicare beneficiaries.
The payer currently offers an online hub members can use to access their benefits and manage their appointments. The UCard is integrated with UnitedHealthcare’s member website and mobile app. Members can use the UCard to check in at an in-network provider’s office or pharmacy and can spend rewards in-store or online.
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In 2024, the payer will introduce new benefits that make it easier for members to shop with their UCard. A mobile product scanner will allow members to confirm benefit eligibility for covered products when shopping in-store. A mobile UCard will allow merchants to scan a barcode for payment when a member is ready to check out.
The payer has also expanded its reach to an additional 700,000 people eligible for Medicare Advantage plans in 110 new counties and 2.7 million additional people eligible for UnitedHealthcare’s chronic special needs plans.
Like many Medicare Advantage plans, UnitedHealthcare will continue offering dental, hearing, and vision coverage. In addition to having the largest Medicare Advantage network for medical providers, the payer boasts the largest national dental network, one of the largest national vision and hearing provider and retail networks, and one of the largest pharmacy networks.
In 2024, members will have stable or lower maximum out-of-pocket costs compared to 2023, according to the payer. In addition, standard Medicare Advantage plans will offer $0 copays for virtual visits, mammograms and colonoscopies, and routine dental, vision, and hearing exams.
Humana
Humana’s 2024 offerings were influenced by member feedback, the payer said. All Medicare Advantage plans will offer dental, vision, and hearing benefits, with dental plans offering coverage of preventive services at no additional cost.
READ MORE: CMS: Medicare Advantage Premiums Will See Little Change in 2024
The payer’s Medicare Advantage plans will provide prescription drug coverage for hundreds of common generic prescriptions, including drugs that treat high cholesterol, depression, and high blood pressure. Members also have access to CenterWell Pharmacy, which delivers prescription and over-the-counter medications to members at home or locations they choose.
Humana’s dual-eligible special needs plans include $0 copays on Part D prescriptions and a monthly Healthy Options Allowance for healthy foods or essentials like rent and utility bills.
The payer has expanded its footprint for 2024 and will offer Medicare Advantage plans for the first time in 39 new counties. Open Network Preferred Provider Organization (PPO) plans will be available in select markets, which allow members to see any provider who accepts Medicare and pay the same copay for visits to in- and out-of-network providers.
Medicare Advantage plans will be available in 49 states, Washington, DC, and Puerto Rico, with over half of projected Medicare beneficiaries having access to a $0 monthly premium plan in 2024.
Cigna
In 2024, Cigna will offer Medicare Advantage plans across 29 states. The payer has expanded its coverage area, adding 25 counties for a total of 603.
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Each market will have a $0 premium plan, with most plans offering a $0 copay for primary care. Additionally, most markets will offer a plan with a rebate toward members’ Medicare Part B monthly premium.
Benefits will include dental, vision, and hearing services, home delivery of meals after hospitalization, and fitness benefits. Some plans will offer transportation services to and from doctors and pharmacies, a support program for caregivers, and allowances for over-the-counter health-related products.
Cigna members can use the myCigna app to access health and claims data and virtual care options available for nonemergency urgent care, behavioral healthcare, and dermatology services. The payer also offers the Cigna Healthy Today card, which includes wellness incentives, an allowance for groceries and utilities, and more, depending on the plan.
Cigna is offering three standalone prescription drug plans in 2024, each with $0 copay options for certain medications purchased through preferred home delivery.
The payer’s Courage Medicare plan will be expanded to 17 states. This plan has a $0 premium and is available to all beneficiaries but is specifically designed for US military veterans with benefits like TRICARE for Life or VA Healthcare.
Cigna is also introducing its dual-eligible special needs plans to 68 new counties, which feature $0 cost-sharing requirements for all covered drugs.
CVS Health/Aetna
Aetna, a CVS Health company, has extended its Medicare Advantage coverage footprint and added new benefits for 2024. The payer will offer plans in 46 states and Washington, DC, and added 255 new counties, reaching an additional 2.2 million beneficiaries and bringing the number of counties with plans available to 2,269.
Nearly 85 percent of beneficiaries eligible for Medicare will have access to an Aetna Medicare Advantage plan with a $0 monthly premium, according to the payer.
Aetna is also expanding its dual-eligible special needs plans to 433 new counties. These plans offer $0 Part D drugs, dental vision, hearing, and allowances for everyday living costs.
The payer has introduced a new plan with fitness benefits. The SmartFit plans are crafted for prescription drug plan customers considering switching to a Medicare Advantage plan. They include $0 in-network primary care visits and labs and $0 Tier 1 generics at preferred pharmacies. The plans also include a fitness membership to SilverSneakers and an annual fitness reimbursement benefit of $600 to $1,200.
The Aetna Medicare payment card will be offered to more plans and states, allowing qualifying members to receive a quarterly allowance to go toward out-of-pocket expenses for in-network care and select over-the-counter wellness items.
Aetna Medicare Advantage members will also benefit from recent CVS Health acquisitions. All Medicare Advantage plans will offer annual home health visits through Signify Health, consisting of a health risk assessment and a non-invasive physical exam. Providers will also evaluate the member’s home environment to identify social support needs and risks.
Additionally, CVS Health’s acquisition of Oak Street Health will improve coordinated primary care delivery, the payer said. Members will have access to all Oak Street Health primary care clinics across the country.
