Health Payer Intelligence October 10, 2023
UnitedHealthcare, Humana, Cigna, and Aetna are aiming to keep premiums and prescription drug costs low for Medicare Advantage beneficiaries in 2024.
As Medicare’s open enrollment period approaches, payers have announced new Medicare Advantage plan offerings for 2024.
Because Medicare Advantage plans receive flexibility to cover benefits beyond the traditional Medicare offerings, plans have an opportunity to differentiate themselves from their competitors with new benefits. In their 2024 offerings, major payers prioritized $0 monthly premiums, low-cost prescription drug coverage, and benefits addressing social determinants of health.
UnitedHealthcare, Humana, Cigna, and Aetna represent 18.3 million members and 60 percent of the Medicare Advantage market, according to estimates from KFF. Their new benefits provide insight into what payers are prioritizing in senior healthcare...
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