Published:
2010 Medicare Landscape: Fewer Plans Yet Plenty of Competition
KENNEBUNK, Maine - (BUSINESS WIRE) - A new report from Mark Farrah Associates (MFA), found 18% fewer Medicare
Advantage (MA) plans will be offered for 2010 as the number of unique
plans offered nationwide declined from 3,700 to 3,025. The number of
stand-alone prescription drug plans (PDPs) declined by 7% from 1,720 in
2009 to 1,605 for 2010. Plan reductions were expected given the Centers
for Medicare & Medicaid Services (CMS) urged MA and PDP organizations in
the 2010 Call Letter to eliminate plan offerings for 2010 that have
little or no enrollment.
The drop in the number of plans still leaves plenty of competition
during the Medicare open enrollment period, which starts on November 15,
2009. At that time beneficiaries may enroll in or disenroll from a
Medicare Advantage or PDP plan. The stakes are high with MA enrollment
at 11.3 million members and PDP enrollment of 17.6 million, as of
October 1, 2009.
To make it easier for seniors to compare Medicare plans within select
counties and states, The Centers for Medicare & Medicaid Services (CMS)
provides updated online resources. MFA in partnership with Strenuus
organized the 2009 and 2010 plan information in its new Medicare
Benefits Analyzer TM (MBA) product. The MBA
database is designed to make it easier for companies to compare their
products with the competition.
As Medicare open enrollment approaches, plans are busy analyzing their
competitive position in local markets to identify opportunities.
Insurers will compete for new members based on a varied landscape,
including how premiums, benefits, networks and prescription drug
coverage stack up against the competition. Mark Farrah Associates'
latest report presents high-level observations about the 2010 Medicare
landscape based on aggregate analysis of MA and PDP plans using the new
Medicare Benefits Analyzer tool.
To read the full text of "2010 Medicare Landscape: Fewer Plans Yet
Plenty of Competition" visit the Healthcare Business Strategy
library on Mark Farrah Associates' website www.markfarrah.com.
About Mark Farrah Associates (MFA)
MFA is a leading data aggregator and publisher providing health plan
market data and analysis tools for the healthcare industry. Committed to
simplifying analysis of health insurance business, our products include
Medicare Benefits Analyzer , Medicare Business Online , the Health
Coverage Portal , Health Insurer Insights and Health Plans USA .
Mark Farrah Associates
Debra Donahue, 207-985-8484
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