Several Medicare Advantage plans will scale back their offerings in 2025.
Though some plans are exiting markets, CMS says premiums and benefits will remain stable for MA beneficiaries in 2025.
Here are nine Medicare Advantage updates Becker's has reported since Sept. 16.
- Average Medicare Advantage premiums and Medicare Part D premiums will decrease in 2024, CMS said. The agency said Medicare Advantage supplemental benefits will remain stable, and expects MA enrollment to surpass 25 million in 2025.
- HHS' Office of Inspector General published audits of Humana, Aetna and EmblemHealth's Medicare Advantage plans, estimating the plans received more than $100 million in combined overpayments.
- University of Vermont Health Network and MVP Health Care will no longer offer their joint Medicare Advantage plan in Vermont in 2025. MVP Health Care said Medicare Advantage is no longer sustainable in Vermont "given sharply increasing post-pandemic surges in care utilization and difficult regulatory changes on the horizon in 2025."
- Startup Medicare Advantage plan Zing Health raised $140 million in funding. The Chicago-based insurer offers special needs plans for individuals with chronic conditions.
- During the upcoming annual enrollment period, older adults should opt for traditional Medicare over Medicare Advantage, seasoned healthcare executive Stacy Mays told Becker's.
- Cigna Healthcare is exiting Medicare Advantage markets or making service area reductions in eight states for 2025.
- Two Medicare Advantage plans received 5-star ratings from the NCQA this year, and 25 received 4.5 stars. See the top-rated plans here.
- Southwestern Health Resources will not offer Medicare Advantage plans in 2025. In emails obtained by D Magazine, the company said it decided to sunset its Medicare Advantage plan because of increasing competition and utilization, and regulatory requirements.
- Florida's insurance commissioner gave the green light for Health Care Service Corp. to purchase Cigna's Medicare business in the state.