So what are the Medicare Advantage plans for 2020? The secretary of Health and Human Services has been very vague when it comes to details. Many have already speculated about the specifics of the plans but only the government has spoken on the subject. Still, the Office of the Actuary at HHS has released a list of changes that may be implemented for the Medicare Advantage plans. They range from state plans to contracts between private Medicare Advantage companies and HMOs. We will be tracking the status of these plans for some time to come. If you think you need Medicare Advantage plans for 2021 visit http://www.medicareadvantageplans2021.org
Currently, there are five plans in the Medicare Advantage program. The current plans are part of the Standard-Contracted Fee-For-Service (FCFS) program. Other plans are the Part C Plan, the Part B Plus Plan, the Part D Plan, the Provider-Administered Plans (PAPs), and the Provider-Related Plans (PRPS).There are some new elements included in the plans in 2020 that were not present in the previous plans. These are discussed below. However, they should not be taken as the final information about all the Medicare Advantage plans for 2020.
First, the HHS Secretary indicated that the Part C plan is going to be eliminated. This makes sense because the costs associated with this plan have been declining over the years. Now, Medicare Advantage plans can compete with the Part C plan. That means that you will be paying less in Part C premiums.Secondly, the added benefit of a Sabbatical Bonus is also being eliminated. This bonus is actually something that the Part C plans were being offered in 2020. This Sabbatical Bonus allows the enrollee to skip a month’s payment if they had to miss some time because of medical circumstances. This year, this is no longer available.
The third element that has not been discussed is the group pricing program in Medicaid. There is an option that you may want to explore if you qualify for Medicaid, but you cannot enroll right now due to the overwhelming volume of applications. If you are interested in this option, then you can contact your state Medicaid office.Fourth, the PUMA Plans is not being eliminated, nor is the Extended Plan. Those are two things that we feel are interesting because they are in addition to the PPO plans. We believe that both of these programs are worth discussing.
Fifth, the HMOs, including their coverage options are being discussed. The HHS Secretary indicated that these plans will not be available. The PPOs will be offered in most areas.Sixth, Part D plan, other benefit plans and the PUMA Plans are not being eliminated. This may seem like a surprising fact, but when the HHS Secretary mentioned that Part C plans are going away, they are not being eliminated. If you are confused, that is because you are not being told the whole story.
Lastly, the Part D Plans may be combined with the Part C Plans, so you can get additional coverage. While it is possible, we think it would be better if there were separate plans available. If you are curious about these programs, the best place to do your research is the HHS website. From there, you can get more information about these plans and the requirements for them. What are you waiting for?