Item of the Week
MEDICARE ADVANTAGE (MA) has become an increasingly popular choice for beneficiaries.
Quick takeaway: Owing to its unique focus on coordinated care and enhanced benefits, MA continues to distinguish itself from traditional Fee-for-Service (FFS) Medicare. With the annual open enrollment period underway, millions of Medicare-eligible beneficiaries are now able to shop for 2023.
Further context: With the share of beneficiaries in MA plans having more than doubled since 2007, recent projections estimate that enrollment in the program will eclipse FFS Medicare as early as next year.
What it means: In addition to offering comprehensive and enhanced care coordination, MA plans have also invested in a growing array of supplemental benefits. These innovations are focused on connecting beneficiaries to services aimed at better addressing health-related social needs, such as transportation, food, and in-home supports. In fact, these benefits are a key feature of MA, differentiating the program from FFS Medicare and a big reason why it’s an increasingly popular choice for beneficiaries.