Health insurers will be offering more Medicare Advantage plans in 2016, and a few more zero-premium plans, but budget pressure may show up in enrollees’ out-of-pocket costs.
The Centers for Medicare & Medicaid Services (CMS) has posted the final 2016 private Medicare plan summary information for 2016 in big, compressed data files.
The files list the Medicare Advantage plans, Medicare Part D prescription drug plans, Medicare Special Needs Plans (SNPs) and Medicare-Medicaid Plans insurers will offer to Medicare plan enrollees during the 2016 open enrollment period, which is set to start Oct. 15 and end Dec. 7.
The files do not list Medicare supplement insurance plans.
The Medicare Advantage program gives insurers a chance to sell plans that serve as an alternative for traditional Medicare coverage.
CMS officials say 95 percent of Medicare enrollees will have access to a Medicare Advantage plan with a monthly premium of $0.