Medicare Commission Recommends Lowering Home Care Payments Reports AAMSI

 The Medicare Payment Advisory Commission has recommended reducing the 2022 home health care base payment rate by 5 percent according to information shared today by the director of the American Association for Medicare Supplement Insurance.

“Medicare paid $17.1 billion in 2020 for home care according to the just-published report to Congress,” notes Jesse Slome, director of the Medicare and long-term care insurance advocacy organizations.

The report was issued by the Medicare Payment Advisory Commission., an independent congressional agency established by the Balanced Budget Act of 1997 to advise the U.S. Congress on issues affecting the Medicare program.

“Medicare spending on home care declined 4.7 percent compared to the prior year,” Slome noted on the call with agents who market Medicare and long-term care insurance protection. “The recommendation is especially important because when it comes to long-term care people want to remain in their own home more than ever.”

Slome reminded the professionals that the Medicare.gov website specifically explains that Medicare does not pay for many home care services that are considered long-term care. “Educating people is the key to making sure that they are properly prepared for whatever the future brings,” Slome advised. “Can Medicare and Medicaid expenditures keep growing at levels that some say are not sustainable? That’s a reason people should underate a little of their own planning.”

The Association posted some of the highlights of data from the March 2022 Report to Congress from the Medicare Payment Advisory Commission (MedPAC). To learn more about Medicare home care information go to https://www.medicaresupp.org/does-medicare-cover-home-care/.

The American Association for Medicare Supplement Insurance (AAMSI) and the American Association for Long-Term Care Insurance advocate for the importance of planning. For more information, visit the organization’s websites at www.medicaresupp.org and www.aaltci.org.

American Association for Medicare Supplement Insurance

Jesse R. Slome

818-597-3205

https://www.medicaresupp.org

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  • Finance

Nation’s Top Medicare Advantage Insurers Reported by Medicare Insurance Association

 UnitedHealthcare was the nation’s leading provider of Medicare Advantage plans according to a report shared today by the American Association for Medicare Supplement Insurance.

“UnitedHealthcare accounted for 27 percent of all MA plans followed by Humana with 18 percent,” shares Jesse Slome, director of the Medicare insurance advocacy organization. “As more consumers favor Medicare Advantage plan coverage, we are being asked which plans do people most frequently choose.”

According to the Association, some 29 million Americans are expected to be enrolled in a Medicare Advantage plan this year. “For the first time, that’s more than twice the number selecting a Medigap or Medicare Supplement plan,” Slome adds.

Some 14 percent of MA plans were offered by a Blue Cross / Blue Shield entity followed by CVS Health (Aetna) which was the choice of 11 percent of all plan participants in 2021.

“Picking the best Medicare plan option is more complex than ever,” declares Slome. “And competition for consumers has reached a frenzied pace, just looking at the hundreds of millions of dollars being spent on television ads featuring celebrity spokespeople.”

To help consumers seeking information, the organization makes available a national online directory listing local Medicare insurance agents who offer Medicare Advantage and Medigap plan information and rate comparisons. Access to the directory is free and completely private. Go to www.medicaresupp.org/find-local-agent/ for more information.

The American Association for Medicare Supplement Insurance (AAMSI) advocates for the importance of planning. See the listing of top Medicare Advantage plan insurers at www.medicaresupp.org/top-medicare-advantage-plans/.

American Association for Medicare Supplement Insurance

Jesse R. Slome

818-597-3205

www.medicaresupp.org

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  • Business

Medicare Insurance Association Publishes Medigap Plan N Price Index

 A woman turning age 65 in Dallas could pay as little as $77.19 monthly for a Medigap Plan N policy according to the findings of a study by the American Association for Medicare Supplement Insurance. The highest available premium cost is $199.94.

“Medigap Plan N is the second most popular choice among seniors turning 65 and purchasing Medicare Supplement coverage,” explains Jesse Slome, director of the Medicare insurance advocacy organization. “While Plan N coverage is uniform the same can definitely not be said about the pricing.”

The organization reported lowest and highest premiums for men and women across 10 major metro areas.

The 2022 Medigap Plan N Price Index found that Phoenix had the highest available costs. “Insurers each get to decide how much they want to charge,” Slome said. “In some markets relatively few Medigap plans are available according to AAMSI. “In some cities 20 or more plan choices are available which makes comparing quite a daunting task.”

The analysis reported that some insurers added Policy Fees and some offered household or spousal discounts. “The discount can be as much as 14 percent which can result in significant savings over many years,” the Association director adds.

Headquartered in Los Angeles, the American Association for Medicare Supplement Insurance (AAMSI) advocates for the importance of planning. Access the full Plan N Price Index at www.medicaresupp.org/best-cost-medigap-plan-n-2022/

The organization makes available a national directory listing local Medicare insurance brokers who offer Medicare Supplement, Medicare Advantage and prescription drug plan information and rate comparisons. Access to the directory is free and completely private. Go to www.medicaresupp.org/find-local-agent/ for more information.

American Association for Medicare Supplement Insurance

Jesse R. Slome

818-597-3205

www.medicaresupp.org

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  • Business

Medicare Insurance Association’s Group Passes 7,000 Member Milestone

 The American Association for Medicare Supplement Insurance’s Linkedin group for Medicare insurance producers has passed the 7,000-member mark.

“We wanted a way to provide meaningful information as well as relevant data,” explains Jesse Slome, director of the Medicare insurance advocacy organization. “I believe this is now the largest Linkedin group specifically focused on Medicare insurance.”

Hosted by the Association Slome explained that the organization uses the medium as a way to gather and disseminate information. “For example, we just completed a survey of Medicare insurance agents reporting Medicare insurance earnings across a number of years.”

The Linkedin Group is open to agents and brokers as well as others who market Medicare Supplement, Medicare Advantage and other senior-related products.

“At the request of early members, we do not allow the posting of promotional messages or items from those with agendas,” Slome notes.

To learn more or to join the Medicare Insurance Producers group go to www.linkedin.com/groups/4021450/.

The American Association for Medicare Supplement Insurance (AAMSI) advocates for the importance of educated planning. AAMSI supports insurance professionals who market Medicare insurance solutions.

The organization makes available a national directory listing local Medicare insurance agents and brokers who offer Medicare Supplement, Medicare Advantage and prescription drug plan information and rate comparisons. Access to the directory is free and completely private. Go to www.medicaresupp.org/find-local-agent/ for more information.

American Association for Medicare Supplement Insurance

Jesse R. Slome

818-597-3205

www.medicaresupp.org

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  • Business

Medicare Insurance Association Launches 2022 Open Enrollment Awareness Effort

 A campaign to educate 26 million Americans with Medicare Advantage coverage is being launched by the American Association for Medicare Supplement Insurance (AAMSI).

“Medicare has a second, little-known open enrollment period that begins January 1st,” states Jesse Slome, director of the Medicare insurance advocacy organization. “During this 2022 Open Enrollment Period people who have Medicare Advantage coverage can make a one-time switch.”

According to Slome, some 26 million Americans are estimated to have Medicare Advantage coverage. The number has increased steadily from 11 million in 2010. Last year AAMSI reported some 24 million MA plan participants nationally.

“Medicare Advantage plans can change on January 1st and this open enrollment gives consumers an opportunity to re-evaluate their current choice and make a one-time switch,” Slome explains. “This special period ends March 31st and only applies to those who currently have a plan and wish to switch to another or back to original Medicare.”

The Medicare insurance expert estimates that around 8-to-10 percent of people enrolled in a Medicare Advantage plan switched to another plan in previous years.

“That can amount to 2 million people,” Slome advised. “It could be higher this year as more Medicare Advantage plans add benefits such as dental, vision and even include such things as meals and transportation.”

“The typical consumer has between 25 and 50 different MA plans available to compare and choose from,” Slome notes. “That’s far too many to compare on your own and calling a toll-free hotline may connect you with someone not really familiar with locally available providers and options.”

Slome suggests consumers look for a local independent Medicare insurance agent. “Ask if they sell Medicare Advantage plans because while many do, some only focus on Medicare Supplement options,” Slome shares. “A local agent will likely be familiar with what other area consumers have to say about the particular plan, the medical facilities and healthcare providers included with the coverage.”

The American Association for Medicare Supplement Insurance makes available the largest online directory listing Medicare insurance agents. Access it at www.medicaresupp.org/find-local-agent. AAMSI advocates for the importance of educated planning and supports insurance professionals who market Medicare insurance solutions. For more information, visit the organization’s website at www.medicaresupp.org.

American Association for Medicare Supplement Insurance

Jesse R. Slome

818-597-3205

www.medicaresupp.org

ContactContact

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