Every year, Medicare beneficiaries can change their Medicare Advantage plans and Part D prescription drug coverage. These plans update their benefits annually, and the plan that was best for a beneficiary last year may not be the same for the next. Below we’ll highlight the top Medicare Advantage companies for 2023.
Top 6 Medicare Advantage Companies for 2023
There are two paths for Medicare coverage options: Medicare Supplement insurance plan or Medicare Advantage. Today, we’ll provide examples of Medicare Advantage insurance coverage in a few states. One zip code per state will be used, so the plan options shown may not be available in your area.
- AARP
- Aetna
- Humana
- UHC
- Cigna
- Wellcare
#1 AARP Medicare Advantage Plans
One of the most recognized names in the Medicare community is AARP. As an advocate for Americans over 50, they do quite a bit of outreach to help influence policy that’ll benefit seniors. They partner with UnitedHealthcare to provide their AARP-branded Medicare insurance products.
Pros
- Insured by the largest Medicare company in the Nation
- A trusted source of information
- Comprehensive dental benefits
- OTC cards can be used at several retail locations
Cons
- Plan extras aren’t as robust as other insurance companies
- Not an actual insurance company. Plans are issued and underwritten by UnitedHealthcare.
AARP HMO Pricing
| State | Monthly Premium | Deductible | Maximum Annual Out of Pocket |
| California | $0 | $0 Drug
$0 Medical |
$800 |
| Tennessee | $0 | $0 Drug
$0 Medical |
$3,700 |
| Vermont | $0 | $0 Drug
$950 Medical |
$6,700 |
| Connecticut | $0 | $175 Drug
$0 Medical |
$6,700 |
| Colorado | $0 | $0 Drug
$0 Medical |
$4,400 |
AARP PPO Pricing
| State | Monthly Premium | Deductible | Maximum Annual Out of Pocket |
| New Mexico | $0 | $0 Drug
$0 Medical |
$4,300 In-network
$10,000 Combined |
| Tennessee | $0 | $0 Drug
$0 Medical |
$5,900 In-network
$10,000 Combined |
| Vermont | $0 | $0 Drug
$950 Medical |
$6,900 In-network
$10,000 Combined |
| Connecticut | $0 | $0 Drug
$1000 Medical |
$6,900 In-network
$10,000 Combined |
| Colorado | $0 | $0 Drug
$0 Medical |
$5,500 In-network
$10,000 Combined |
#2 Aetna Medicare Advantage Plans
CVS Health purchased Aetna a few years ago. Aetna was already a large company with great Medicare insurance options, but with the backing of CVS, they have started to jump to the forefront.
Aetna Medicare Advantage plans have some of the largest provider networks, with easy-to-use dental coverage. Since the Acquisition of Aetna, members can save even more on their prescriptions using CVS as a preferred pharmacy.
Pros
- Aetna’s dental allowance is among the top of all Medicare Advantage plans.
- Dental Implants are included in some areas.
- They have large healthcare provider networks and service areas.
- Aetna’s Healthy rewards program gives policyholders access to gift cards as they hit certain milestones.
Cons
- Aetna used to have great customer service, but they have begun to send customer care offshore, making getting answers more difficult for some beneficiaries.
- Many of Aetna’s Medicare Advantage plan’s dental coverage is a reimbursement plan requiring beneficiaries to pay upfront and submit the bill to Aetna for reimbursement.
Aetna HMO Pricing
| State | Monthly Premium | Deductible | Maximum Annual Out of Pocket |
| Pennsylvania | $65 | $0 Drug
$0 Medical |
$7,550 |
| New Jersey | $0 | $350 Drug
$0 Medical |
$7,500 |
| Arizona | $0 | $100 Drug
$0 Medical |
$7,550 |
| Florida | $0 | $0 Drug
$0 Medical |
$2,500 |
| Texas | $0 | $250 Drug
$0 Medical |
$5,900 |
Aetna PPO Pricing
| State | Monthly Premium | Deductible | Maximum Annual Out of Pocket |
| Pennsylvania | $0 | $0 Drug
$0 Medical in-network $750 Medical out-of-network |
$7,550 In-network
$11,300 Combined |
| New Jersey | $105 | $0 Drug
$0 Medical in-network $1,000 Medical out-of-network |
$7,550 In-network
$11,300 Combined |
| Arizona | $0 | $0 Drug
$0 Medical in-network $500 Medical out-of-network |
$5,500 In-network
$11,300 Combined |
| Florida | $0 | $150 Drug
$0 Medical in-network |
$5,500 In-network
$10,000 Combined |
| Texas | $0 | $300 Drug
$0 Medical |
$7,500 In-network
$11,300 Combined |
#3 Humana Medicare Advantage Plans
Humana is a great company that boosts an A- excellent rating from AM best. Humana’s policyholders love how they are treated when they call customer service. Their plans include 24/7 access to nurse hotlines and over-the-counter allowances and transportation.
Humana Medicare Advantage offers a variety of plan types throughout the country. Most Humana MAPD plans include comprehensive dental, dentures, and various plan extras.
Pros
- Great Customer service based in the USA
- Huge variety of plans nationwide, many with a $0 premium
- Most Humana HMO plans include comprehensive dental coverage
- Their GO365 program rewards policyholder for keeping up on their healthcare
- New Healthy Options allowance provides up to $3,000 per year for the use of OTC, Groceries, rent, and utilities.
- SilverSneakers gym membership
Cons
- Dental coverage doesn’t include implants
- Tight dental networks
Humana HMO Pricing
| State | Monthly Premium | Deductible | Maximum Annual Out of Pocket |
| South Carolina | $0 | $0 Drug
$0 Medical |
$7.500 |
| Ohio | $0 | $0 Drug
$0 Medical |
$4,700 |
| Nevada | $0 | $0 Drug
$0 Medical |
$1,900 |
| Illinois | $0 | $0 Drug
$0 Medical |
$2,600 |
| Missouri | $0 | $0 Drug
$0 Medical |
$2,900 |
Humana PPO Pricing
| State | Monthly Premium | Deductible | Maximum Annual Out of Pocket |
| South Carolina | $0 | $0 Drug
$0 Medical |
$5,900 In-network
$11,300 Combined |
| Ohio | $0 | $200 Drug
$0 Medical |
$5,300 In-network
$10,000 Combined |
| Nevada | $0 | $175 Drug
$0 Medical |
$6,700 In-network
$10,000 Combined |
| Illinois | $0 | $220 Drug
$0 Medical |
$5,500 In-network
$10,000 Combined |
| Missouri | $0 | $0 Drug
$0 Medical |
$3,600 In-network
$10,000 Combined |
#4 UHC Medicare Advantage Plans
For years UnitedHealthcare has been the largest insurer of Medicare beneficiaries. They are endorsed by AARP and offer plans branded with the AARP name.
Their Dual Medicare Advantage plans are hard to beat, allowing beneficiaries to use their entire over-the-counter allowance for food or over-the-counter items. Many plans restrict the amount that can be used for different expenses.
Pros
- UHC has its wellness and fitness program called Renew & Active.
- The only Medicare program endorsed by AARP.
- UHC has a suitcase program allowing you to find in-network providers when traveling with some plans.
- Available Dual Special Needs Plans that are PPOs instead of HMOs.
Cons
- UHC doesn’t have as many extra benefits as some other companies.
- Dental coverage doesn’t include implants.
- Customer service is hit or miss. Policyholders report a mixed review of the customer service experience.
UHC HMO Pricing
| State | Monthly Premium | Deductible | Maximum Annual Out of Pocket |
| Mississippi | $0 | $0 Drug
$0 Medical |
$6,700 |
| Utah | $0 | $150 Drug
$0 Medical |
$5,900 |
| Wisconsin | $0 | $355 Drug
$0 Medical |
$4,900 |
| Virginia | $0 | $0 Drug
$0 Medical |
$3,700 |
| New Hampshire | $0 | $0 Drug
$750 Medical |
$6,700 |
UHC PPO Pricing
| State | Monthly Premium | Deductible | Maximum Annual Out of Pocket |
| Mississippi | $20 | $0 Drug
$0 Medical |
$6,700 In-network
$10,000 Combined |
| Utah | $38 | $175 Drug
$0 Medical |
$5,500 In-network
$10,000 Combined |
| Wisconsin | $0 | $245 Drug
$0 Medical |
$4,700 In-network
$6,700 Combined |
| Virginia | $0 | $0 Drug
$0 Medical |
$5,900 In-network
$10,000 Combined |
| New Hampshire | $29 | $195 Drug
$0 Medical |
$6,700 In-network
$10,000 Combined |
#5 Cigna Medicare Advantage Plans
Medicare Advantage plans by Cigna have great benefits and brilliant plan extras. Over 75% of their plans nationwide have a $0 premium and low copays.
Cigna Medicare Advantage was sanctioned many years ago but has come back strong with strong plans and solid customer service. Many of their plans provide insulin savings and have great coverage for prescription medications.
Pros
- Cigna has one of the best online user experiences through their MyCigna App
- Low costs on many prescriptions.
- Low premiums
- Cigna MA plans have a high customer satisfaction rating
Cons
- Most plans only have a Medicare Star rating of 3.5 stars or less.
- Additional benefits aren’t as strong as their competitors.
Cigna HMO Pricing
| State | Monthly Premium | Deductible | Maximum Annual Out of Pocket |
| Alabama | $0 | $0 Drug
$0 Medical |
$5,800 |
| Georgia | $0 | $0 Drug
$0 Medical |
$7,500 |
| Kansas | $0 | $0 Drug
$0 Medical |
$5,500 |
| Delaware | $0 | $0 Drug
$0 Medical |
$6,900 |
| North Carolina | $0 | $0 Drug
$0 Medical |
$4,900 |
Cigna PPO Pricing
| State | Monthly Premium | Deductible | Maximum Annual Out of Pocket |
| Alabama | $0 | $0 Drug
$0 Medical |
$5,700 In-network
$7,700 Combined |
| Georgia | $0 | $280 Drug
$0 Medical |
$7,200 In-network
$11,300 Combined |
| Kansas | $0 | $0 Drug
$0 Medical |
$4,900 In-network
$11,300 Combined |
| Delaware | $0 | $0 Drug
$0 Medical |
$7,300 In-network
$11,300 Combined |
| North Carolina | $0 | $0 Drug
$0 Medical |
$5,750 In-network
$11,300 Combined |
#6 Wellcare Medicare Advantage Plans
Wellcare Medicare Advantage plans always push the envelope to try and be ahead of the curve with innovative plan extras. They were the first to give an allowance to be used for utilities.
They have been increasing their Medicare Market share over the past few years and are now part of Centene corporation.
It had some speed bumps a few years ago with its rapid growth but is now coming into its own as a top Medicare insurance company.
Pros
- Innovative plan extras
- Dental coverage includes implants in many areas
- Utility assistance allowance on some plans
- Telehealth services
Cons
- Offshore customer service
- Networks are a little tighter than the other top companies
Wellcare HMO Pricing
| State | Monthly Premium | Deductible | Maximum Annual Out of Pocket |
| Arkansas | $0 | $250 Drug
$0 Medical |
$4,900 |
| Michigan | $0 | $0 Drug
$0 Medical |
$3,450 |
| Louisiana | $0 | $0 Drug
$0 Medical |
$3,400 |
| Indiana | $0 | $0 Drug
$0 Medical |
$3,900 |
| Kentucky | $0 | $0 Drug
$0 Medical |
$5,000 |
Wellcare PPO Pricing
| State | Monthly Premium | Deductible | Maximum Annual Out of Pocket |
| Arkansas | $0 | $0 Drug
$0 Medical |
$5,500 In-network
$10,000 Combined |
| Michigan | $0 | $0 Drug
$0 Medical |
$5,000 In-network
$7,500 Combined |
| Louisiana | $0 | $75 Drug
$0 Medical |
$5,000 In-network
$10,000 Combined |
| Indiana | $0 | $0 Drug
$0 Medical |
$4,300 In-network
$10,000 Combined |
| Kentucky | $0 | $0 Drug
$0 Medical |
$6,000 In-network
$10,000 Combined |
FAQs
What is the best Medicare Advantage plan for people with certain medical conditions?
Depending on the medical condition, there may be a chronic Special Needs Plan in your area. These SNPs provide specific benefits that assist with many Medicare beneficiaries’ chronic health conditions, such as diabetes, COPD, and health disease.
What are some of the most popular Medicare Advantage plans?
Some popular Medicare Advantage plans include AARP UnitedHealthcare, Humana, Wellcare, and Aetna. Many of these plans provide additional benefits that many beneficiaries have come to depend on. These include healthy food allowances, over-the-counter benefits, and even assistance for utilities and rent in some areas.
Who is the largest provider of Medicare Advantage plans?
UnitedHealthcare is the largest Medicare part C provider in the US. More Medicare beneficiaries are enrolled in their plans than any private insurance company.
What is the biggest disadvantage of Medicare Advantage plans?
The biggest disadvantages to Medicare Advantage plans are the tight networks and authorizations. Preferred Provider Organizations (PPO) allow for out-of-network coverage at a higher cost. Another disadvantage is these plans have a nonmedical plan administrator that approves or denies procedures.
What is the average monthly cost of Medicare Advantage?
Medicare Advantage premiums vary depending on where you live and your chosen plan. The nationwide average is about $19. However, there are many $0 premium options available in most states.
What company has the best Medicare Advantage plan?
There is no best Medicare Advantage plan. This is because they cover things differently, and all beneficiaries have different needs. The best plan for your neighbor, sibling, or spouse may not be the best choice for your individual needs.
How to Shop Rates with the Top Medicare Advantage Companies
To find the best Medicare Advantage health plans and companies for you, it’s best to work with a licensed insurance agent.
They can access all the plans in your area and present you with all the options that fit your needs. From there, they can help you understand the different types of Medicare health insurance and guide you through the Medicare enrollment process.
Call or fill out our online request form for help finding the top Medicare Advantage companies. Our agents specialize in Medicare products.
The post Top Medicare Advantage Companies for 2023 appeared first on Medigap.com.
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