This week we are reading about the Medicare Advantage growth for five of the largest carriers, Cigna’s Medicare Advantage expansion, and Anthem’s joint venture with MaineHealth to offer Medicare Advantage plans.
Medicare Advantage growth among biggest for-profit payers | Becker’s | August 15, 2019
All but one of the five largest for-profit payers saw double-digit growth in their Medicare Advantage membership in the second quarter of fiscal year 2019. Here’s how CVS Health-owned Aetna, Anthem, Cigna, Humana and UnitedHealth Group’s UnitedHealthcare stacked up, according to recent financial documents: Payers are listed in order of greatest year-over-year Medicare Advantage enrollment growth as of June 30, 2019.
Medicare Advantage membership: 2.3 million
Percent change year over year: 30.6 percent
Medicare Advantage members: 1.2 million
Percent change year over year: 24.9 percent
Medicare Advantage membership: 12.4 million
Percent change year over year: 19.2 percent
Medicare Advantage membership: 1.6 million
Percent change year over year: 10 percent
Medicare Advantage membership: 5.2 million
Percent change year over year: 8.4 percent
Cigna Plans Big Medicare Advantage Expansion | Forbes | August 2, 2019
Cigna will expand its Medicare Advantage health plan offerings to seniors in dozens of new counties next year in what is quickly becoming a competitive business for health insurance giants.
For now, Cigna offers largely individual health maintenance organization (HMO) plans in 260 counties spread across 16 states. But the insurer plans to enter 37 new counties with such HMO offerings for what executives said will be a 14% increase in the company’s Medicare Advantage footprint, pending regulatory approvals.
Anthem, MaineHealth form joint venture to offer Medicare Advantage Plans | Knox VillageSoup | August 23, 2019
Anthem Blue Cross and Blue Shield in Maine and MaineHealth today announced the two organizations will collaborate on a joint venture to offer Medicare Advantage health insurance plans for 2020. The joint venture, named AMH Health LLC, will bring together the region’s leading health care system and health insurer to offer a comprehensive approach to care that will support Maine seniors as they age.
Tomas Orozco, president of Anthem’s Medicare East Region, said the joint venture “aims to make it easier for Maine seniors to receive high-quality, affordable health care in their communities through a broad network of care providers offering a wide range of services.”
Anthem Blue Cross and Blue Shield and MaineHealth will make Medicare Advantage insurance plans available to seniors during this fall’s annual enrollment period.