KENNEBUNK, Maine, Nov 04, 2009 (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(TM), Medicare Business Online(TM), the Health Coverage Portal(TM),
Health Insurer Insights(TM) and Health Plans USA(TM).
SOURCE: Mark Farrah Associates
CONTACT:
Mark Farrah Associates
Debra Donahue, 207-985-8484
