Medicare Advantage Plans Increase To 3,500 Plans Nationwide

Medicare Advantage Data 2021

LATEST MEDICARE ADVANTAGE DATA 2021: Published June 15, 2021: The number of Medicare Advantage (MA) plans available in the United States increased by 13 percent over the prior year according to the American Association for Medicare Supplement Insurance.

There are now 3,500 Medicare Advantage plans up 402 from 2020, reports Jesse Slome, director of the organization. The organization focuses on helping insurance professionals who market Medicare insurance products.

According to AAMSI, the average individual on Medicare today has access to 33 different Medicare Advantage plans .

Medicare Advantage Plans 2021 – Top 15 States

The number of plans increased across the top states.  Florida has the most MA plans (527) and saw a growth of 11 percent compared to the prior year.  Texas had 289 plans but saw an increase of 25 percent compared to the number of 2020 plans.

The following chart reflects the number of Medicare Advantage plans for top-15 states.  Based on CMS data compiled and analyzed by the American Association for Medicare Supplement Insurance (June 2021).

Find Best Cheap Medicare Advantage Options

Use our Online Directory to find local Medicare insurance agents

More choice is great. But it can also be confusing and data shows that a significant number of people are unhappy with their Medicare plan selection. 

That’s why the Association suggests you connect with a local Medicare insurance agent who knows the local market.

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You only enter your Zip Code and you’ll see agents in your immediate area.  They will include a description that shares whether they offer all Medicare options (Medicare Advantage, Medicare Supplement and drug plans).

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Pros and Cons of Medicare Advantage Plans

Medicare Advantage plans are a popular private insurance alternative to Original Medicare (Parts A & B).

However, there are some pros and cons to Medicare Advantage (MA).

Some MA plans can definitely offer long-term savings, added plan flexibility and better care benefits.  However, others can give you fewer medical (healthcare) provider options.  They can come with additional costs and lifestyle challenges (especially for those who travel or split time between two residences in different states).

Here are some advantages of Medicare Advantage plans.

Original Medicare only offers two types of coverage: hospital insurance and medical insurance.  It does not cover prescription drugs or some supplemental benefits.

With a Medicare Advantage plan, all your coverage options are generally in one convenient plan.

There are different Medicare Advantage plan types.  These can be beneficial for individuals who have a chronic health condition.  If that’s you, consider asking your Medicare insurance professional if a SNP Advantage plan can help with your medical costs.

For those who prefer provider freedom, a Medicare Advantage PPO or PFFS plan may better address your healthcare preferences. When you want extra services like dental, vision, or hearing, many Medicare Advantage today plans include them.  But, again, the benefits can vary so be sure to ask for specific coverage details.

Today, many MA plans have no premiums and offer low or no deductibles. Most plans set limits on the maximum out-of-pocket costs that you will need to pay during a plan year.

An advantage for many consumer is ‘coordinated medical care’.  Simply explained, your healthcare providers actively communicate to coordinate your care between different types of healthcare services and medical specialties.

Here are some disadvantages of Medicare Advantage plans.

Choosing a Medicare Advantage HMO plan may limited the healthcare / medical providers you can use.  Going ‘out of the network’ and you’ll likely  face higher fees.

While other MA plan types give you more provider freedom, they may have higher premiums and fees like co-pays and deductibles.

Medicare Advantage plans may only offer specific coverage in a very specific and defined service areas. If you travel or have houses in two different areas, your plan may not cover you.  Newer plans are working to address this.  But it is important to ask,