Healthcare DIVE June 6, 2024
More seniors than usual could switch plans during next year’s open enrollment, depending on how drastically major MA insurers slash benefits in an attempt to improve profits.
Humana and CVS, two of the largest Medicare Advantage insurers in the country, are poised to seriously downgrade their plan benefits and geographic presence next year as they chase profits in the privately run Medicare program.
As a result, hundreds of thousands of Medicare Advantage seniors — and the billions in revenue they represent — could come up for grabs, representing a significant opportunity for insurers looking to take on more members despite ongoing challenges in MA.
The size of the turnover depends on a number of factors. Deciding which benefits to cut...
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