New report shows that some premiums and deductibles were lower for 2019-and that members are using new tools to help them save.
During the 2019 Medicare Annual Enrollment Period (AEP), analysis of the plan selections of people shopping for Medicare coverage through eHealth websites shows an average decline in Medicare Advantage premiums of 42%.
This is according to a new report by eHealth, Inc., a leading private online health insurance exchange where individuals, families and small businesses can compare and purchase health insurance products. The report also shows evidence of lower deductibles and out-of-pocket-limits among the plans selected by beneficiaries who purchased Medicare Advantage, Medicare Part D, or Medicare Supplement plans through websites operated by eHealth. However, the report also shows that premium costs among beneficiaries purchasing Medicare Supplement products rose by an average 8%.
In addition, the report finds that use of online transparency tools that enable beneficiaries to search for plans accepted by their preferred medical providers and covering their prescription drugs dramatically increased during the AEP for 2019 coverage.
“Managed care executives are essential health plan leaders who supervise the operations of healthcare systems designed to deliver medical services in ways that improve quality and reduce costs,” says Chris Hakim, vice president and general manager of Medicare at eHealth. “With the rapid movement to value-based care, the executives that truly partner with patients in the management of their health will drive the best results. Of note is that Medicare Advantage is growing rapidly and that is connecting Medicare beneficiaries to tools to help them make better health choices in terms of disease management and in choosing cost-effective services with better health outcomes.”
Related: HHS’ Plan to Lower Medicare Part B Prescription Drug Prices: 5 Things to Know
Other report findings include:
Online transparency tools are becoming more powerful and easier to use, according to Hakim.
“The fact that more Medicare eligible people are buying plans online and using drug transparency tools underscore that when user-friendly technology tools are made available, seniors are increasingly inclined to use them,” says Hakim. “When coupled with the fact that there are 10,000 people becoming Medicare eligible each day-and that ‘younger’ seniors are more tech savvy-it opens the door for more effective, less-expensive communications with Medicare beneficiaries. The tools will only get better as companies are investing more and more in technology.”
Emerging Therapies Committee at UC Davis Hits the Accelerator Not the Brake | AMCP 2024
April 18th 2024After the onboarding of cell and gene therapy bogged using normal pharmacy and therapeutics (P&T) committee procedures, UC Davis Health set up an emerging therapeutics committee to streamline and speed up the process of delivery expensive cell and gene therapies.
Read More
DC Roundtable: Patrick Cooney of The Federal Group Drops the Latest on PBM Legislation in Washington
April 11th 2024In this episode of "DC Roundtable," Peter Wehrwein, managing editor of Managed Healthcare Executive, spoke with Patrick Cooney, president of The Federal Group, a lobbying and strategic planning firm in Washington, D.C., about recent developments in Washington concerning PBMs.
Listen
2024 Emerging Leaders in Healthcare — Submit For a Chance to Be Featured in MHE's August Issue
April 18th 2024MHE Editors are seeking diverse healthcare professionals from different backgrounds and healthcare sectors, with individual interests. Eligible candidates are early or mid-career leaders with less than 10 years of experience. Award winners will enjoy complimentary passes to the PBMI Annual National Meeting in Orlando, Florida, from Sept. 4-6. Additional perks include a feature in our August issue, a subscription to MHE and more!
Read More
Emerging Therapies Committee at UC Davis Hits the Accelerator Not the Brake | AMCP 2024
April 18th 2024After the onboarding of cell and gene therapy bogged using normal pharmacy and therapeutics (P&T) committee procedures, UC Davis Health set up an emerging therapeutics committee to streamline and speed up the process of delivery expensive cell and gene therapies.
Read More
DC Roundtable: Patrick Cooney of The Federal Group Drops the Latest on PBM Legislation in Washington
April 11th 2024In this episode of "DC Roundtable," Peter Wehrwein, managing editor of Managed Healthcare Executive, spoke with Patrick Cooney, president of The Federal Group, a lobbying and strategic planning firm in Washington, D.C., about recent developments in Washington concerning PBMs.
Listen
2024 Emerging Leaders in Healthcare — Submit For a Chance to Be Featured in MHE's August Issue
April 18th 2024MHE Editors are seeking diverse healthcare professionals from different backgrounds and healthcare sectors, with individual interests. Eligible candidates are early or mid-career leaders with less than 10 years of experience. Award winners will enjoy complimentary passes to the PBMI Annual National Meeting in Orlando, Florida, from Sept. 4-6. Additional perks include a feature in our August issue, a subscription to MHE and more!
Read More
2 Commerce Drive
Cranbury, NJ 08512