MCMURRAY, Pa.--(BUSINESS WIRE)--Mark Farrah Associates (MFA), www.markfarrah.com, released an analysis brief presenting a snapshot of the 2020 Medicare market landscape. MFA used plan information detail presented in Medicare Benefits Analyzer™, a subscription based dataset providing customers easy access to competitive Medicare Plan Finder (MPF) data and Star Quality Ratings. Medicare Advantage (MA) plans currently provide medical coverage for over 23.1 million beneficiaries. With the 2020 Annual Election Period (AEP) well underway, health plans invested in MA business have been eagerly marketing their products to attract more of the senior population.
- MFA reported 4,407 distinct MA plan offerings are in the market lineup for the current 2020 AEP. This includes MA plans, Medicare Advantage with prescription drug plans (MAPDs), Medicare/Medicaid plans (MMPs), and Special Needs Plans (SNPs).
- 959 stand-alone Prescription Drug Plans (PDPs) are being offered for 2020, an increase from the 912 plan offerings in 2019.
- Approximately 90% of MA plans will include Part D benefits.
- Monthly premiums will range from $0 to $350, with 49% of MA plans (excluding SNPs) available at the $0 plan premium level.
To read the full FREE text of “Medicare Market Competition for 2020", visit the MFA Briefs on Mark Farrah Associates' website.
About Medicare Benefits AnalyzerTM
Medicare plans across the country access and use Medicare Plan Finder data and Star Quality ratings more efficiently with Mark Farrah Associates’ Medicare Benefits Analyzer™ product. This comparative database allows carriers to compare plan premiums, copays and star rating details, market by market. 2020 Plan Finder and Star Quality Ratings information is online now. Visit our website at www.markfarrah.com or call 724-338-4100 for more information.
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 Business Online™, Medicare Benefits Analyzer™, Health Coverage Portal™, County Health Coverage™, and Health Plans USA™.