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“Older Americans have been flocking to Medicare’s private plans, which promise predictable costs and extra benefits.” — Trump Administration Peppers Inboxes With Plugs for Private Medicare Plans, The New York Times
Medicare Advantage plan enrollment is on the rise, according to a new report from The New York Times. “Administration officials predict that almost 37 percent of the 60 million Medicare beneficiaries will be in Medicare Advantage plans next year, up from 28 percent five years ago,” notes Times writer Robert Pear.
Improved customer service, tech-savvy health services, and higher quality primary care provider (PCP) relationships make Medicare Advantage plans attractive to consumers. Medicare Advantage plans also offer patients more options for additional benefits, like dental insurance, gym memberships, and caps on out-of -pocket premiums. As consumers reach retirement age, a Medicare Advantage plan typically offers a more seamless transition from benefits they received from their employers.
Medicare Advantage isn’t just better value for consumers either. Significant financial incentives for payer-providers are driving companies to offer more competitive plans with more benefits.
We see the increase in Medicare Advantage enrollment as an indicator of broader healthcare trends toward consumerism. Millennials and baby boomers alike are demanding better care and a broader range of services.
The rise of on- or near-site clinics is evidence of the demand for better care. Major companies like Amazon and Apple are taking healthcare delivery into their own hands to ensure their employees get the best quality care possible.
Looking ahead, we expect the effects of consumerism to continue, forcing more innovation and better quality services to become the norm in healthcare.
Want to find out how on-site clinics deliver exceptional clinical experiences? Check out our white paper: Two Truths About Patient Engagement.
Stay current on healthcare industry developments, Vera updates, in-depth resources, and interviews with Vera providers