Trump Administration Announces Historically Low Medicare Advantage Premiums ahead of the 2021 Annual Enrollment Period.
Nationally, average MA premiums had been reduced by 11% for 2021 compared to 2020.
Ahead of the annual Medicare Open Enrollment, the Centers for Medicare & Medicaid Services announced that average 2021 premiums for Medicare Advantage plans are expected to decline 34.2 percent from 2017 while plan choice, benefits, and enrollment continue to increase. The Medicare Advantage average monthly premium will be the lowest in 14 years, since 2007, for the over 26 million Medicare beneficiaries projected to enroll in a Medicare Advantage plan for 2021.
A few highlights related to agilon health current and potentially future markets include:
- TX (25%), followed by HI (20%), reported the most material increase in the number of plan options available in the state.
- MI (14%), followed by PA (13%), reported the most material reductions in average MA premiums.
- NY (1%), followed by NC (4%), reported the smallest reduction in average MA premiums.
- In many states, including Hawaii, New York, North Carolina, Texas, and Ohio, 100 percent of people with Medicare have access to a Medicare Advantage plan. And, 100 % of people with Medicare will have access to a Medicare Advantage plan with a $0 monthly premium.
- For the first time, seniors who use insulin will have access to 1,600 Medicare Advantage and Part D prescription drug plans to choose from that will offer insulin at no more than a $35 monthly copay beginning in January.
- Additionally, for the first time in Medicare, 53 Medicare Advantage plans will offer increased access to palliative care and integrated hospice care to their enrollees
To read the full announcement, click here.