HSCS continuing to expand Medicare Advantage presence, predicts growth
HCSC will offer MA and/or Medicare Advantage Prescription Drug plans in more than 82% of counties in the states it serves.
Photo: Marko Geber/Getty Images
Health Care Service Corporation (HCSC) intends to offer Medicare plans in 99 additional counties across Illinois, Montana, New Mexico, Oklahoma and Texas next year, and is continuing to expand its presence in the Medicare Advantage arena.
This is the third consecutive year of significant Medicare expansion for the company. With the anticipated 2024 footprint, HCSC will offer Medicare Advantage (MA) and/or Medicare Advantage Prescription Drug (MAPD) plans in more than 82% of counties in the states it serves: Illinois, Montana, New Mexico, Oklahoma and Texas.
"By continuing to strengthen our provider relationships and networks, we are able to expand our reach and tailor our products and services to meet the needs of all our members," said Christine Kourouklis, HCSC Medicare President.
WHAT'S THE IMPACT?
HCSC said it designed the 2024 product offerings to "meet the diverse needs" of Medicare-eligible individuals, offering benefits beyond traditional Medicare coverage.
Nathan Linsley, HCSC senior vice president for government and individual markets, framed the move as a continued investment in the member experience and provider networks, resulting in higher-quality care and service.
HCSC currently insures more than 18 million Americans in five states, including one million Medicare members. It is supporting the Medicare Advantage Prescription Drug county footprint with an expansion of provider networks across all five states, the company said.
HCSC is seeking all necessary regulatory approvals for 2024. The Medicare Advantage and Prescription Drug Plan Annual Election Period starts October 15 and ends December 7.
THE LARGER YEAR
The expansion is part of a strategy that began last year, when HCSC announced a service area and product expansion for this year that was expected to reach 150 new counties, encompassing about 1.1 million Medicare-eligible patients.
The expansion, which focuses on providing access to care in rural and underserved areas, allows the company to offer Medicare Advantage Prescription Drug (MAPD) plans to 7.5 million people in more than 330 total counties – a more than 40% increase.
Many HCSC MA plans provide additional benefits beyond traditional Medicare, including dental, vision and prescription drug coverage at a number of price points, including options with $0 monthly premiums.
For 2023, HCSC's MA plans and benefits are intended to lower out-of-pocket costs, support the affordability of prescription drugs and increase access to enhanced benefits.
Twitter: @JELagasse
Email the writer: Jeff.Lagasse@himssmedia.com
