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February 01, 2023 at 10:58 AM
What You Need to Know
- Most Medicare Advantage plans offer at least some dental and vision care benefits.
- About half offer medical-related transportation.
- Plans are not always sure how to tell CMS about the new supplemental benefits options.
Most Medicare Advantage plans offer dental and vision benefits, many pay for some medical-related transportation, and some have added a smidge of home care.
Analysts at the U.S. Government Accountability Office explore the plans’ supplement benefits offerings in a new look at the state of Medicare Advantage plan supplemental benefits data.
The 3,893 plans reviewed spent an average of just $27 per member per month on supplemental benefits.
Michelle Rosenberg, the GAO health care director, writes in a letter outlining the GAO’s findings that the Centers for Medicare and Medicaid Services, the agency that oversees Medicare, is still developing a strategy for collecting supplemental benefits data.
“More complete information on the utilization of supplemental benefits could help CMS determine whether or to what extent they support the health and social needs of Medicare enrollees,” Rosenberg writes in a letter outlining the GAO analysts’ findings.
What It Means
In theory, new types of Medicare Advantage supplemental benefits could be a significant source of value for some retired clients.
In practice, it´s not yet clear from CMS data how well the new benefits work.
Medicare Advantage Basics
Medicare Advantage offers what looks like an alternative to Original Medicare coverage for 30 million enrollees.
Medicare Advantage plans use a combination of federal funding and enrollee premiums. They often hold costs down by contracting for low fees with “in-network providers,” and they may also manage enrollees’ use of care.
The plans contend that their approach improves the quality of the care and care outcomes.
Clients who are willing to spend more on premiums in exchange for freedom from provider networks or active care management can fill the gaps in Original Medicare coverage with private Medicare supplement insurance policies.
