by Stephen Donohue, Registered Health Underwriter and NH Medicare Agent
When someone reaches Medicare age, there are two different ways they can obtain coverage:
Medicare Advantage Enrollment Trends in NH
Over the past decade, Medicare Advantage enrollment has experienced significant growth, reflecting changes in policy and increased interest from beneficiaries. Let’s delve into the key trends and explore why more people are choosing Medicare Advantage plans.
Nationally, in 2023 the number of Medicare Advantage enrollees RECENTLY EXCEEDED the number of Traditional or Fee for Service Medicare enrollees. Recent estimates dated February 2024 on the CMS website show that in NH there are 338,834 Medicare beneficiaries here in the Granite State are considering
Medicare Advantage.
See breakdown by plan type here in NH:
Original Medicare Fee For Service 221, 090 or 65.3%
Medicare Advantage Plans 117,744 or 34.7%
When someone reaches Medicare age, there are two different ways they can obtain coverage:
- Original Medicare PLUS a Medicare Supplement and Part D RX: This option involves enrolling in Original Medicare (Part A and Part B) and then adding a Medicare Supplement (Medigap) plan to cover additional costs. Additionally, a separate Part D plan is needed for prescription drug coverage. In New Hampshire, there are currently 20 different insurers offering Medigap plans and 20 different Part D RX plans to consider.
- Medicare Advantage PD: This is an alternative way of receiving Medicare benefits through a private company. These plans, also known as Part C, often include Part A, Part B, and Part D coverage in one package. In 2024 in most counties in New Hampshire, there are over 35 different Medicare Advantage plans available.
Medicare Advantage Enrollment Trends in NH
Over the past decade, Medicare Advantage enrollment has experienced significant growth, reflecting changes in policy and increased interest from beneficiaries. Let’s delve into the key trends and explore why more people are choosing Medicare Advantage plans.
Nationally, in 2023 the number of Medicare Advantage enrollees RECENTLY EXCEEDED the number of Traditional or Fee for Service Medicare enrollees. Recent estimates dated February 2024 on the CMS website show that in NH there are 338,834 Medicare beneficiaries here in the Granite State are considering
Medicare Advantage.
See breakdown by plan type here in NH:
Original Medicare Fee For Service 221, 090 or 65.3%
Medicare Advantage Plans 117,744 or 34.7%
Why the Surge?
Several factors contribute to the rise in Medicare Advantage enrollment:
As Medicare continues to evolve, beneficiaries will likely have even more choices and benefits to consider.
If you would like to learn more about the different Medicare options, please contact NH Medicare Insurance Agent Stephen Donohue at 603-882-2909.
Several factors contribute to the rise in Medicare Advantage enrollment:
- Added Benefits: Beneficiaries appreciate the extra perks offered by Medicare Advantage plans. These include dental benefits, gym memberships, coverage for over-the-counter items, and eyeglasses/contact lenses.
- Zero Premium Plans: Many Medicare Advantage plans are marketed with a 0 premium, although seniors still pay the additional Medicare Part B premium costs (typically $174.70 per month in 2024).
- Aggressive Marketing: Insurers promote Medicare Advantage plans extensively through TV commercials, mailings, and online ads.
- Local Popularity: In New Hampshire (NH), the trend mirrors the national surge. More Medicare enrollees in NH are opting for Medicare Advantage plans.
- Plan Variety: Hillsborough County, NH, has seen a significant increase in plan availability. In 2017, only 11 plans were offered, but today, there are 38 Medicare Advantage plans available.
- County Variation: Enrollment rates vary widely across counties. Some factors influencing this variation include firm strategies, urbanicity, payment rates, and historical market penetration.
As Medicare continues to evolve, beneficiaries will likely have even more choices and benefits to consider.
If you would like to learn more about the different Medicare options, please contact NH Medicare Insurance Agent Stephen Donohue at 603-882-2909.
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