HealthLeaders-InterStudy, a leading provider of healthcare market intelligence, reports that Florida is prime hunting ground for the 40 companies offering Medicare Advantage plans in 2007. According to the latest Florida Health Plan Analysis, the penetration rate among eligible seniors is second in the nation at 22 percent, however, there is still potential for growth.
"This year health plans are giving seniors even more reason to buy," states Jan Shuxteau, HealthLeaders-InterStudy market analyst and author of the report. "Most MA insurers provide coverage of generic drugs in the doughnut hole, and several plans boast $0 monthly premiums and $0 annual drug deductibles."
Since the government improved payments for health plans with the 2003 Medicare Modernization Act, Medicare Advantage has been on positive footing. Availability of these plans has increased, especially in rural areas through private-fee-for-service programs and options such as the regional PPOs. Health plans are often able to operate more efficiently than traditional Medicare by using their networks, and they offer lower premiums than seniors can find elsewhere.
In addition to the typical medical/hospital coverage options such as doctor visits and inpatient care, plans are competing for members with extra perks. Humana, for example, offers a Silver Sneakers gym membership program, and WellCare is offering plans with dental, vision and hearing coverage.
Other news in the Florida healthcare market: - Recent court rulings call into question how the state will enforce prompt-payment and reimbursement rules, which could have an impact beyond just the Florida healthcare market. - Blue Cross and Blue Shield of Florida is expanding its provider-based technology tool throughout its network this year. About Health Plan Analysis
Health Plan Analysis identifies key health plan trends, allowing healthcare businesses to create comprehensive strategic plans and sales strategies at state and local levels.
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