Medicare Advantage in 2022: Three things you should know ahead of 2022 AEP

August 30, 2021
Aspire Blog - Medicare Updates for 2022 - Doctor holding a stethoscope with 2022 written on it

The 2022 Medicare Annual Election Period (AEP) is less than two months away, beginning on October 15 and running through December 7, 2021. During this time, you can change your Medicare coverage. You can choose a new Medicare Advantage (MA) plan, switch between Original Medicare (Parts A and B only) and MA or change your Part D coverage. If you are thinking about Medicare Advantage in 2022, here are three things you should know ahead of the 2022 AEP.

1. Medicare Advantage enrollees report higher rates of consumer satisfaction, health outcomes and affordability than those with Original Medicare.

Enrolling in an MA plan can help save you money and lead to better health outcomes. The 2021 “State of Medicare Advantage” report from the Better Medicare Alliance found the following:

  • A 98% overall satisfaction rate among MA benefits with their coverage
  • A 97% overall satisfaction rate with MA plan’s provider network
  • 41% and 15% fewer acute and chronic hospitalizations compared to Original Medicare
  • Lower average annual individual spending with annual costs savings of $1,640, 40% lower than Original Medicare

2. Medicare Advantage plans can offer supplemental benefits not offered under original Medicare, including benefits for those with chronic conditions.

Good news for Medicare beneficiaries with chronic conditions! One of the most recent updates from CMS related to supplemental benefits was the ability of MA plans to offer Special Supplemental Benefits for the Chronically Ill (SSBCI) as of 2020. Adoption of SSBCI was very limited in its first year, says the Commonwealth Fund, but look for more plans to offer these benefits for the 2022 plan year.

3. Medicare Advantage enrollment has doubled over the last decade.

More and more people over the age of 65 are choosing to enroll in an MA plan over Original Medicare or Original Medicare plus a Medicare Supplement (MedSupp) plan. Recent data from the Kaiser Family Foundation found that this year, more than 26 million people are enrolled in an MA plan, equaling 42 percent of the total Medicare population.

Original Medicare does leave pretty significant gaps in your healthcare coverage, including no out-of-pocket maximum, meaning one hospital stay could cost you thousands. Original Medicare also does not include prescription drug coverage, dental benefits, vision benefits, hearing aids and other additional supplemental benefits.

As a Medicare Advantage plan sponsor, Aspire Health Plan offers Monterey County’s only Medicare Advantage plan. Check back with us again in October for AEP to see our new plan offerings for 2022 when it is time to make your choice.

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Discussion:

  • November 11, 2021 at 7:54 pm, Charlotte Fleet says:

    It is good to know that Medicare Advantage has higher rates of consumer satisfaction. My grandparents are trying to decide the best Medicare plan for them. I will suggest that they look into getting Medicare Advantage. https://easymedicare4you.com/medicare-supplements/

  • March 16, 2022 at 4:16 am, Amy Saunders says:

    Hey! So here’s a thing: One of my aunts is recently unemployed and she’s really worried about her medical expenses. Luckily, you did a great job clarifying that Medicare Advantage provides additional coverage these days too. I believe she should refer to a professional to better handle this situation pretty soon. https://connorltcconsulting.com/

  • April 7, 2022 at 5:01 am, medicare in pennsylvania says:

    Thanks for sharing such an amazing blog. I must say you are doing a great job. Keep doing such hard work. Your blogs are very informative. Keep posting! Good Luck with your upcoming updates. Also, I would like to add some more details I have found via the website
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  • June 27, 2022 at 2:53 pm, Amy Saunders says:

    Phew! You don’t know how relieved I am once you mentioned about Medicare Advantage and its more extensive coverage for critical medical issue as well. I’m so gonna advise my neighbor to take this info into consideration when making a decision some time later. He’s been undergoing several minor surgeries to remove dead tissues from his left leg since last month. https://cswta.com/medicare-plans

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