Kansans can likely save money by getting a new Medicare Advantage plan. These are the findings in a new HealthMarkets report.
“Kansas actually had the largest decrease year-over-year at 10.11 percent decrease in cost from 2018 to the 2019 Medicare Advantage plan,” said CMO Mike Stahl with HealthMarkets.
Where are costs going down? It’s on the front end.
“We look at a number of pieces of cost,” said Stahl. “First being premium, the other being out of pocket costs, the max out-of-pocket, the drug deductible, things of that sort. Most of that decrease in cost is in terms of premium.”
The average premium is down about 48 percent for 2019.
“A lot of the major carriers, AETNA, Coventry, UnitedHealthcare, there are others, Humana, Blue Cross plans, the Medicare business is good business for them,” said Stahl. “They’re fighting for market share and in so doing there are decreasing premiums and increasing benefits, virtually across the board.”
However, if you want to change your plan for 2019, time is of the essence. The deadline to do so is December 7.