With the new Annual Enrollment Period slowly sneaking up on us, there are more health systems out there preparing to get into the Medicare Advantage business, within the next few years. Being in the business for the last 15 years I have experienced years in which there were new companies that were throwing their hat in the ring and compete with the bigger and more established companies.
It sounds like for the next few years we will continue to see more of that. I’m sure, in my opinion, that it’s driven by trying to cash in on the Medicare Advantage market. I’m all for free enterprise, but there are certain times when it’s better to stick with some of your solid reputable companies that have been around for awhile and have a strong financial foundation. Of course every region of our country may have different companies that fit into that role.
It’s wise ,before making a decision on a plan, to take a good look at the company. Ask your agent what their rating is. All insurance companies are rated by A.M. Best. How big is their network of doctors and hospital facilities? How many members do they have? Sometimes sticking with the same standard company can be a good thing. Being an agent in Ohio I can find out about all the plans in the state, so if you need any information or have some questions give me a call and I’ll do my best to get you an answer.
—Dave Obregon | 888-355-1599
More than 1 in 4 major U.S. health systems intend to launch a Medicare Advantage plan in the next four years, according to a new survey of health system executives released June 6.
St. Louis-based Lumeris, an industry leader in value-based care solutions, announced that 27% of major U.S. health system executives participating in the survey intend to launch an MA plan in the next four years, and also found that only 29% of those respondents planning to launch a Medicare Advantage plan felt confident in their organization’s ability to do so successfully. (click here)