Medicare Advantage enrollment is expected to rise in 2023, representing over half of Medicare beneficiaries. Updates include Humana partnering with durable medical equipment companies, Humana’s significant membership growth, concerns over the quality of care for seriously ill beneficiaries, the launch of new special needs plans by Humana, inaccuracies in Medicare Advantage directories, and CVS Health’s optimistic outlook for membership growth. These developments highlight the dynamic nature of the Medicare Advantage program and the need for continual attention to enhance healthcare services for beneficiaries.
The Medicare Advantage program is poised for significant growth in 2023, with payers anticipating a surge in enrollment as it now represents a majority of Medicare beneficiaries. Here are seven noteworthy updates about the program that have been reported by Becker’s since May 3:
- Humana’s Partnership with Durable Medical Equipment Companies: Humana, one of the leading players in Medicare Advantage, has recently entered into contracts with two durable medical equipment companies. This collaboration aims to provide medical devices to Humana’s Medicare Advantage members, enhancing their access to essential healthcare equipment.
- Impressive Growth in Medicare Advantage Membership: According to Humana’s earnings report, the company witnessed the largest growth in Medicare Advantage membership during the first quarter of 2023. This achievement solidifies Humana’s position as a prominent player in the Medicare Advantage landscape. Below is a breakdown of major payers and their Medicare Advantage membership as of the end of Q1, 2023.
- Medicare Advantage’s Growing Share: Medicare Advantage enrollment has now reached a significant milestone, representing half of the total Medicare enrollment. To grasp the program’s rapid expansion, let’s examine its growth as a percentage of the Medicare Part A and B population, year by year.
- Evaluating Quality of Care for Serious Illnesses: A group of researchers highlighted the need for more data to assess the quality of care provided to Medicare Advantage beneficiaries with serious illnesses. In a piece published in the New England Journal of Medicine, they emphasized the importance of comprehensive information to understand and improve healthcare outcomes for this vulnerable population.
- Introduction of the New Medicare Advantage Special Needs Plans: Humana is embarking on the launch of new Medicare Advantage special needs plans in collaboration with Longevity Health Plan. These plans, catering specifically to the needs of certain populations in South Carolina and Georgia, will contribute to expanding healthcare coverage and enhancing care coordination for eligible beneficiaries.
- Inaccuracies in Medicare Advantage Directories: Concerns have been raised regarding the accuracy of Medicare Advantage directories, particularly concerning mental health providers. Senator Ron Wyden, Chair of the Senate Finance Committee, expressed concern, citing a “secret shopper” study conducted by committee staff. The study revealed that 33 percent of listings for behavioral health providers in 12 Medicare Advantage plan directories across six states had inaccurate contact information or did not return calls.
- CVS Health’s Optimism for Medicare Advantage Growth: CVS Health, after experiencing disappointment with “low- to mid-single-digit percentage” growth in its Medicare Advantage membership last year, is now expecting substantial growth by the end of 2023. This renewed optimism reflects CVS Health’s confidence in the Medicare Advantage market and its efforts to attract and retain more beneficiaries in the coming months.
These seven updates shed light on the evolving landscape of Medicare Advantage. With increasing enrollment, expanding partnerships, and ongoing concerns about the quality of care and directory accuracy, stakeholders in the program will need to stay vigilant and adapt to ensure the delivery of high-quality healthcare services to Medicare Advantage beneficiaries.
