Evaluating the Top Medicare Advantage Plans for 2023
A Medicare Advantage Plan, often known as a Part C plan, is an all-in-one substitute to Original Medicare.
These “bundled” plans incorporate Part A (Hospital Insurance) and Part B (Medical Insurance), and typically Part D (prescription drug coverage). When deciding what is the best Medicare Advantage Plan, it’s crucial to consider factors like quality of service, cost, network size, and additional benefits.
In this comprehensive guide about medicare coverage, we will delve into the details of the top Medicare Advantage Plan providers for the year 2023. Our goal is to help you make an informed decision about your health care coverage.
Understanding Medicare Advantage Plans
Medicare Advantage Plans are an alternative to Original Medicare and are offered by private insurance companies approved by Medicare. These plans include all the benefits of Original Medicare and often offer additional perks like dental and vision care, fitness programs, and prescription drug coverage.
The availability of Medicare Advantage Plans varies by geographical location, and they are a popular choice for individuals eligible for Medicare.
Evaluating Medicare Advantage Plans: Key Factors
When selecting a Medicare Advantage Plan, it’s essential to consider:
- Star Ratings: Every year, the Centers for Medicare & Medicaid Services (CMS) assigns a star rating to each plan based on data from member surveys, the plans themselves, and medical providers. The rating scale is from 1 to 5, with 5 being the best.
- Cost: Each plan will have a monthly premium (many Medicare Advantage Plans have a $0 monthly premium) and a maximum out-of-pocket cost, which is the most you’ll pay in a year for covered health care.
- Prescription coverage: While many Medicare Advantage Plans include prescription drug coverage. Also, investigate to see if all your medications are covered by the plan.
- Network: If you have a list of preferred caregivers and medical facilities, ensure these are included in the plan’s network.
- Plan Type: Preferred Provider Organization (PPO) Plans may be more suitable if you frequently see specialists and do not want a referral for every visit. If you mainly see your primary care physician, a Health Maintenance Organization (HMO) Plan might be more affordable.
Now, let’s take a closer look at the top Medicare Advantage Plan providers for 2023.
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Top Medicare Advantage Plan Providers for 2023
UnitedHealthcare (UHC) is a leading provider of Medicare Advantage Plans, available in 49 states and Washington, D.C. It boasts an average Medicare star rating of 4.28, offering the largest Medicare Advantage network with over 1 million care providers.
- A significant majority of UnitedHealthcare Medicare Advantage members are in contracts rated 4 stars or higher.
- UnitedHealthcare offers $0-copay telehealth visits and annual home health visits.
- Most UHC plans come with comprehensive dental benefits.
- Despite its size, UHC’s member satisfaction ratings fall below the industry average.
- UHC offers the highest-priced special needs plans in 2023, although some SNPs have $0 premiums.
Aetna, a CVS Health company, is the fourth-largest provider of Medicare Advantage Plans. Its average Medicare star rating is 3.67, and it offers an array of extra benefits, including in-home health visits and meal delivery after a hospital stay.
- Aetna offers some of the lowest-premium stand-alone Medicare Prescription Drug Plans nationwide.
- Aetna’s Medicare Advantage Prescription Drug Plans come with a $0 deductible on all Tier 1 drugs.
- Aetna offers unique benefits to certain Medicare Advantage members, including a companionship benefit, access to online memory fitness exercises and fresh food delivery.
- Weighted by enrollment, Aetna Medicare Advantage Plans get an average Medicare star rating of 3.67 out of 5 stars.
- Out of nine Medicare Advantage providers ranked, Aetna came in sixth overall in J.D. Power’s 2022 Medicare Advantage Study.
Kaiser Permanente is the fifth-largest provider of Medicare Advantage Plans. With an average Medicare star rating of 4.81, Kaiser tops the list for member satisfaction among the nine providers.
- Kaiser Permanente’s Medicare Advantage Plans score above all other major Medicare Advantage providers in terms of Medicare star ratings.
- Kaiser Permanente earned the top spot for customer satisfaction out of nine providers measured in J.D. Power’s 2022 Medicare Advantage Study.
- Kaiser Permanente plans are available in only eight states and Washington, D.C.
- Kaiser offers only HMO plans, so members must work within Kaiser’s network of medical providers.
Humana is the second-largest provider of Medicare Advantage Plans, available in 49 states and Puerto Rico. It offers $0 monthly premium plans in 49 states and Puerto Rico and boasts an average Medicare star rating of 4.35.
- Humana offers plans in 91% of U.S. counties, making it an option for more Americans than any other provider.
- Nearly all Humana Medicare Advantage members are in a plan rated 4 stars or higher.
- Several Humana plans were ranked 3 or below (out of 5) by the National Committee for Quality Assurance.
- Humana’s special needs plans aren’t as plentiful as the rest of its plans.
Highmark is a member of the Blue Cross Blue Shield family, and its plans are highly rated and ranked for member satisfaction. Its average Medicare star rating is 4.76.
- Highmark ranks third in J.D. Power’s 2022 Medicare Advantage Study and is the highest Blue on the list.
- Weighted by enrollment, Highmark’s Medicare Advantage contracts get an average Medicare star rating of 4.76 out of 5.
- Highmark offers Medicare Advantage Plans in only four states: Delaware, New York, Pennsylvania, and West Virginia.
- Highmark offers the highest-priced Medicare Advantage Plans of all the Blues.
Choosing the right Medicare Advantage Plan is a critical decision and requires careful consideration of various factors. By evaluating different providers and understanding what each offer, you can find the best Medicare Advantage Plan that fits your specific needs and preferences. Remember, the best plan for you will depend on your health history, prescription medications and where you live, among other factors.
If you need help or want to explore your Medicare Advantage Plan options, then Ensurem is here to help. Speak to an Ensurem by using the phone number on this page to learn more about plans available in your area.
Ready for Talk to an Expert but Don’t Know what to Ask? Here is a list of Questions to Help You Get Started
- What is a Medicare Advantage plan and how does it differ from Original Medicare?
- How do I choose the best Medicare Advantage plan for my health care needs?
- What does a Medicare Advantage plan typically cover that Original Medicare does not?
- Can you explain the differences between HMO plans and PPO plans in Medicare Advantage?
- How does prescription drug coverage work with Medicare Advantage plans?
- Are there many Medicare Advantage plans that provide additional benefits such as dental coverage and vision services?
- How can I compare the best Medicare Advantage plans offered by different private insurance companies?
- What are the monthly premiums for the most popular Medicare Advantage plans?
- Do all Medicare Advantage plans offer supplemental coverage for prescription drugs?
- How do Medicare Advantage members rate their experience with their plans and providers?
- When is the initial enrollment period for a Medicare Advantage plan?
- What should I consider when choosing a Medicare Advantage provider?
- How does the coverage gap, also known as the “donut hole,” affect prescription drug costs in Medicare Advantage plans?
- How do out-of-pocket costs compare between Medicare Advantage plans and Original Medicare?
- Can Medicaid services be combined with a Medicare Advantage plan for more comprehensive coverage?
- How does the health maintenance organization (HMO) model work in many Medicare Advantage plans?
- Can I use any medical providers with a Medicare Advantage plan or am I limited to in-network providers?
- Are there any Medicare Advantage plans that offer a Medical Savings Account (MSA) option?
- What are the Medicare Star Ratings and how can they help me choose the best Medicare Advantage company?
- How do the benefits of the best Medicare Advantage providers compare to those of standard health insurance plans?
- What additional benefits might be included in a Medicare Advantage plan that are not covered by Original Medicare?
- What happens if I need to see a specialist under a Medicare Advantage HMO plan?
- How do monthly premium costs compare between Medicare Advantage plans and Medicare supplement insurance plans?
- How does dental coverage work with Medicare Advantage plans?
- What kind of coverage do Medicare Advantage policies offer for health services not covered by Original Medicare?
- What is the coverage for out-of-pocket expenses in most Medicare Advantage plans?
- What is the process for Medicare Advantage enrollment and when is Medicare’s annual enrollment period?
- How do the health benefits of the best Medicare Advantage plans compare to those of other insurance company offerings?
- How do Medicare eligible beneficiaries choose the best Medicare Advantage plan for their needs?
- What are the provider networks available with different Medicare Advantage plans?
- What considerations should I make about prescription drugs when choosing a Medicare Advantage plan?
- How do monthly premiums for different Medicare Advantage plans compare?
- What are some potential out-of-pocket costs associated with Medicare Advantage plans?
- How do Medicare Advantage benefits compare to those of Original Medicare?
Ensurem Trusted Expertise
Education is crucial in finding the right Medicare solution for you. With so many Medicare resources out there, it can be difficult finding a source you can trust. That’s why Ensurem has a Compliance Program dedicated to ensuring our Medicare content meets Centers for Medicare & Medicaid Services (CMS) regulations. So, you can rest assured you’re getting the information you need to make the right coverage decisions.
Denise Austin, 65, Ensurem Ambassador
Best-Selling Author, Creator of Fit Over 50 Magazine
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