Humana tops best Medicare Advantage plan companies in new ranking
The insurer was ranked as the best overall Medicare Advantage company, the best for member experience and the best for low-premium plans.
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Humana has been anointed the best overall company offering Medicare Advantage plans by U.S. News and World Report, which created an honor roll based on the Centers for Medicare and Medicaid Services' newly released Star Ratings for Medicare Advantage Plans.
For 2023, Humana Medicare Advantage plans received an overall star rating of 4.3 out of 5 stars averaged across all 50 states. Pros included over-the-counter benefits, telehealth coverage, $0 monthly plan premiums in most areas, limits on annual out-of-pocket costs, official Special Needs Plans (SNPs) in 38 states, and an extensive network of doctors and hospitals.
The only knock against Humana was that its average prescription drug plan rating of 3.57 lags slightly behind the national average of 3.63 out of 5 stars.
Additionally, Humana ranked as the best company for member experience. CMS rates Medicare Advantage plans on various aspects of the member experience, such as how easy it is to get needed care and see a specialist, how soon members can get an appointment, members' subjective ratings of the health plan, and the efficiency of care coordination by medical providers. Humana's 3.8 member-experience star rating exceeds the national average member-experience rating of 3.5 out of 5.
And in another sign of its dominance, Humana was also declared the best company for low-premium plans. Humana offered 420 $0-premium plans in 2022 in nearly every state. The company's average Medicare star rating is 4.3 out of 5, and most of the plan's members are in highly rated plans. Humana is one of the largest providers of Medicare Advantage plans, with more than 5.1 million members enrolled in 2022.
Blue Cross Blue Shield affiliated companies took top honors in the fourth and final category: the best company for size of the physician network. Many Blue Cross companies offer personal-response systems to eligible members, which allow beneficiaries to contact a caregiver or emergency services at the push of a button, according to U.S. News. And these companies often include 24/7 telehealth visits; members can connect with providers via computer, tablet or smartphone.
As well, many plans provide members with transportation assistance and meal delivery following hospitalization, and discounts are available on medical devices, hearing aids, fruit and vegetable delivery services, and more for eligible members.
WHAT'S THE IMPACT?
The annual enrollment period for Medicare-eligible individuals runs from October 15 through December 7.
Humana continues to expand its offerings. Along with USAA Life Insurance Company, Humana will be rolling out a new Medicare Advantage plan aimed at veterans, which aims to complement the healthcare benefits received through the Department of Veterans Affairs.
This new co-branded Humana USAA Honor with Rx plan, available to anyone eligible for Medicare, is being offered in eight states starting in 2023 and provides flexibility for veterans to see in-network local doctors and fill prescriptions at pharmacies close to home, outside the VA system. It's the only Medicare Advantage plan developed in partnership with USAA.
THE LARGER TREND
In CMS' Medicare Advantage and Part D Star Ratings, released this month, 57 contracts earned five stars, down significantly from 74 last year. There were 67 contracts that earned 4.5 stars, down from 96 last year; 136 that earned four stars, a drop from 152; 116 that earned 3.5 stars, down from 122; and 90 that earned three stars, up from 25 last year.
Kaiser Foundation Health Plans and UnitedHealth Group also earned five stars. Five Kaiser plans earned five stars this year, while nine five-star plans belong to companies owned by UnitedHealth Group. Humana and Highmark also boasted numerous five-star plans.
Significantly, 37 plans earned 2.5 stars, compared with just two last year; at the same time, four plans earned two stars, compared with none last year. All four two-star plans are Wellcare by Centene.
One star represents poor performance, and five stars represents excellent performance
Twitter: @JELagasse
Email the writer: jeff.lagasse@himssmedia.com
