As of 2021, more than 26 million seniors are enrolled in best Medicare Advantage plans 2024, and that number is projected to continue to grow in the coming years. With each passing year, the landscape of Medicare Advantage plans changes, and 2024 is no exception. In this article, we will give you a closer look at the upcoming changes and how they might impact you or your loved ones.
First, it’s important to understand what Medicare Advantage plans are. They are coverage plans offered by private health insurance companies that provide the same benefits as Original Medicare, but may also offer additional benefits such as vision, dental, and hearing coverage. Prescription drug coverage can also be included in some plans. In addition to the base benefits, many Medicare Advantage plans have unique features that might be appealing to some people, such as premium reductions, limited out-of-pocket expenses, fitness programs, and more.
One of the biggest changes coming in 2024 is the Centers for Medicare & Medicaid Services’ (CMS) increased focus on expanding telehealth coverage. Because of the pandemic, telemedicine has rapidly grown in popularity and necessity, and it’s likely that this trend will continue. For Medicare Advantage plans, this means a greater emphasis on telehealth services that can improve outcomes, provide access to care for people in remote areas, and help reduce healthcare costs for everyone. This likely translates to more benefits being offered that focus on telehealth services.
Another change to watch for in 2024 is the expansion of benefits Medicare Advantage plans can offer. In the coming years, we may see more plans offer benefits that are tailored to specific populations, such as people with chronic conditions like diabetes, heart disease, and cancer. The current CMS guidelines allow for health-related supplemental benefits in Medicare Advantage plans, but plans have to be approved by the CMS to make sure they are not discriminatory. With the aging population continuing to grow, we can expect to see more plans targeting specific age and health groups, such as those over age 85 or those with multiple chronic conditions.
While the benefits of Medicare Advantage plans have long been touted, recent studies have shown that there are still disparities in who has access to these plans. People living in rural areas, those with lower incomes, and minorities are less likely to enroll in or have access to Medicare Advantage plans. To address this discrepancy, CMS has proposed changes to help increase access to Medicare Advantage plans for these population groups in 2024. By working to address these disparities, more people will have access to the high-quality care that Medicare Advantage plans offer.
As we look ahead to 2024, we can see that Medicare Advantage plans will continue to play an important role in healthcare coverage for seniors. With increased focus on telehealth services, expanded benefits targeting specific conditions, and greater access for all populations, there is a lot to look forward to. If you or a loved one is looking for healthcare coverage, be sure to explore the options available for Medicare Advantage plans in your area, and take the time to compare plans to find one that best meets your needs. By taking advantage of these plans’ unique features and benefits, you can stay healthy and happy long into your golden years.