Episode Summary
The transcript summarizes a panel discussion hosted by Josh Slattery with representatives from the top Medicare Advantage carriers including Aetna, Cigna, Humana, Wellcare, and UnitedHealthcare. Each panelist was given time to share details about what new offerings and changes current and prospective members can expect for Medicare Advantage plans in 2023.
There was palpable excitement from the carriers about how they are enhancing benefits, expanding provider networks, and improving affordability. Each panelist touched on what they are most looking forward to rolling out for the upcoming year.
A major focus was on improved dental and vision coverage. Many plans will now offer unlimited dental benefits with no annual maximum. Others have drastically increased dental benefit caps to $3000 or more. This is a huge upgrade compared to dental coverage under original Medicare. For vision, allowances for eye exams and eyewear are being enhanced.
Health Reimbursement Account (HRA) allowances are also increasing. Some plans will offer up to $1000 in HRA funds that can help pay for deductibles, copays, and other out-of-pocket expenses. Additionally, the compensation for completing health risk assessments is going up, with some plans offering $50-75 per survey.
The panel also explained how Special Supplemental Benefits for the Chronically Ill (SSBCI) work and how they make $0 premium plans more accessible for those who qualify. Carriers are prioritizing education around SSBCI to help eligible individuals enroll in extremely affordable plans.
In terms of provider networks, the carriers emphasized major expansions and improvements underway. They are adding more hospitals, doctors, and specialists to give members more choices and better access to care. Some carriers claim their networks now rival or beat original Medicare.
Other supplemental benefits highlighted include over-the-counter medication allowances, fitness programs, virtual visits, and transportation. The carriers are getting creative in terms of the extra benefits made possible by Medicare Advantage.
For agents, retention initiatives are a big focus. Carriers are implementing agent-of-record protection programs to ensure clients stay with their chosen agent year-to-year. This provides stability for both agents and Medicare beneficiaries.
In summary, the major takeaways are that Medicare Advantage plans are expanding benefits, improving affordability, growing provider networks, and finding new ways to add value and meet member needs. The carriers expressed excitement and confidence about the positive changes coming to Medicare Advantage for 2023.
Timestamps
(0:00:03) - This year's Broker Link kickoff event was the best one yet
(0:00:55) - Broker link introduces our Medicare Advantage panel
(0:01:47) - Panelists share what they are most excited about for Medicare Advantage selling season
(0:03:12) - UnitedHealthcare's biggest change this year is to our dental plan
(0:08:22) - Many of you brought up new part b give-back plans. And that's created some anxiety among agents
(0:09:32) - Wellcare offers a part b give-back plan but is sustainable
(0:10:15) - UnitedHealthcare's part b give back is increasing and it is proven sustainable
(0:14:34) - Let's go back and circle back a little bit on dental. Kathy, can you break down what unlimited dental means
(0:16:03) - Phyllis: On our dental plans, we work with United
(0:17:33) - Cigna's unlimited dental plan has a cap of 20,000
(0:19:22) - As agents are finalizing their AEP strategy, what are Aetna's opportunities
(0:21:32) - Kathy, can you explain a little bit about SSBCI benefits
(0:24:15) - United offers unique SSBCI benefits on DSniP plans
(0:27:17) - Health risk assessments are a great tool for both agents and carriers
(0:28:48) - Aetna is increasing its HRA fee across the board
(0:31:14) - The next thing I want to talk about is AOR retention. You guys have a lot of growing portfolios
(0:35:50) - Panelists address questions about Humana's dental network and plan portfolio
(0:38:15) - UnitedHealthcare's network is unsurpassed, Gabe says
(0:39:32) - Our dental network is based on our commercial PPO dental network
(0:42:38) - Great conversation. All right, folks, well, thanks again for listening to this podcast
