How Medicare Advantage plans are an affordable, convenient option for seniors | Opinion

George Renaudin
·3 min read
2

When making day-to-day decisions about where to spend money, most people consider how much a product or service costs and the value it provides. Healthcare can have a significant impact on a personal budget, especially as we age, so choosing an affordable health insurance plan is critical.

Fortunately for today’s seniors and those eligible for Medicare due to disability, private sector competition has made Medicare Advantage one of the only insurance options where the benefits generally get better each year while costs often go down.

Enrollment in Medicare Advantage plans has doubled over the past 10 years, and nearly half of those eligible for Medicare are choosing Medicare Advantage because of its affordability and extra benefits.

In Tennessee, enrollment in Medicare Advantage plans rose 7% from 2021 to 2022.

 Hear more Tennessee Voices: Get the weekly opinion newsletter for insightful and thought provoking columns.

Extra benefits can be invested in other ways

Consumers save nearly $2,000 per year when compared to what beneficiaries pay in original Medicare. Medicare Advantage plans are increasing in popularity because they are affordable and typically provide significant value for their members.

Medicare Advantage offers people with Medicare the flexibility to choose a plan that best fits their lifestyle and health condition.
Medicare Advantage offers people with Medicare the flexibility to choose a plan that best fits their lifestyle and health condition.

Convenience is also an important factor, as many Medicare Advantage plans offer dental, vision, hearing and prescription drug coverage in addition to original Medicare’s standard hospital (Part A) and doctor/outpatient hospital visits (Part B). Medicare Advantage plans often come with additional non-medical benefits that may help aging seniors stay physically and socially active, which can also help them combat cognitive decline.

These extra benefits can include coverage of gym memberships, transportation to doctor appointments and support at home. Other benefits that address non-medical needs can include food and housing assistance and even home modifications that improve the safety of a person’s living environment.

Sign up for Black Tennessee Voices newsletter: Read compelling columns by Black writers from across Tennessee. 

Sign up for Latino Tennessee Voices newsletter:Read compelling stories for and with the Latino community in Tennessee. 

Supplemental benefits can help prevent disease

We have come a long way in our understanding of the factors that impact seniors’ health. For instance, hearing and vision loss can impair an older person’s ability to engage in physical and social activities and can lead to social isolation, increased falls, dementia, reduced quality of life and higher mortality rates.

We also know poor oral health is harmful to overall health, raising the risks of developing a number of medical conditions− including cardiovascular disease and pneumonia.

Supplemental benefits can help prevent disease or the worsening of medical conditions. A focus on preventive care is a hallmark of Medicare Advantage plans. One study found those enrolled in Medicare Advantage plans have higher rates of preventive tests and services than those on traditional Medicare; they also had 23% fewer inpatient hospital stays and one-third fewer ER visits.

Your state. Your stories. Support more reporting like this.
A subscription gives you unlimited access to stories across Tennessee that make a difference in your life and the lives of those around you. Click here to become a subscriber.

Whether it’s getting rides to necessary medical treatments or getting regular dental check-ups, Medicare Advantage offers people with Medicare the flexibility to choose a plan that best fits their lifestyle and health condition. Most Medicare Advantage plan beneficiaries receive these comprehensive benefits while paying no more than what they’d spend on Medicare Part B coverage alone.

It’s no wonder 94% of Medicare Advantage enrollees are satisfied with their coverage. The overwhelming truth is that seniors are getting a better deal every year as private sector competition continues to improve the overall social benefits available to them.

George Renaudin is the president of Medicare, Humana Inc. 

This article originally appeared on Nashville Tennessean: Medicare Advantage: How these plans can benefit Tennessee seniors