Comparing 2022 Medicare Advantage Plans

• by Christian Worstell
• November 18, 2021
• Reviewed by John Krahnert

There are 3,834 Medicare Advantage plans available in the United States in 2022, according to the Kaiser Family Foundation (KFF).¹

With so many options to choose from, you may want to strongly consider the following 4 factors when comparing Medicare Advantage plans:

1. Type of plan
2. Plan benefits
3. Star rating²
4. Out-of-pocket costs

Type of plan

There are 5 major types of Medicare Advantage plans. The type of plan you choose will affect your health care provider options, your drug coverage options, whether you need a referral to see a specialist, and your out-of-pocket costs.

For example, if you need a low-cost plan and can stay in-network for your health care, a Health Maintenance Organization (HMO) plan may be suitable. If you are willing to pay extra for more freedom to visit pre-approved doctors or facilities, a Private Fee-For-Service (PFFS) plan may better suit your needs.

You should compare all of the major types of plans, understand their pros and cons, and choose the one that is best for you.

More info: Medicare Advantage plan types

Plan benefits

All Medicare Advantage plans must provide Original Medicare benefits, but some plans may provide additional benefits such as prescription drug, vision, and/or dental coverage.

You should choose a plan with the benefits that you need most. For example, if you need several prescriptions, you should find out which Medicare Advantage plans offer prescription drug coverage. If you need vision coverage, you should find plans that offer vision benefits.

More info: Medicare Advantage plan benefits

Star rating

Medicare assigns star ratings to every available Medicare Advantage plan.² Medicare Advantage plan star ratings give you an idea of the plan’s quality and performance. Ratings are generated by Medicare and are based on information from member satisfaction surveys, plans, and health care providers.

Ratings range from 1 star (poor performance) to 5 stars (excellent performance).

In 2022, approximately 90 percent of beneficiaries of Medicare Advantage plans that include prescription drug coverage are enrolled in plans rated 4 stars or higher.³

Out-of-pocket costs

There are 2 things to look at when comparing out-of-pocket costs for Medicare Advantage plans: premiums and other costs such as copayments and deductibles.

Some plans have zero-dollar monthly premiums, but others may have monthly premiums that can vary widely from plan to plan. Also, $0 premium monthly plans may not be available in all areas. Some Medicare Advantage plans also may provide rebates for your Medicare Part B premium.

A cheaper plan may have lower monthly premiums, but it may have more restrictive network rules, as well as greater out-of-pocket costs such as copayments, coinsurance and deductibles. Keep in mind you must continue to pay your Part B premium.

To learn more about Medicare Advantage plans and to find plans in your area, call a licensed insurance agent today or compare plans online.

¹ Freed M. et al. (Nov. 2, 2022). Medicare Advantage 2022 Spotlight: First Look. Kaiser Family Foundation. Retrieved from www.kff.org/issue-brief/medicare-advantage-2022-spotlight-first-look.

² Medicare evaluates plans based on a 5- star rating system.

³ Centers for Medicare & Medicaid Services (CMS). (Oct. 8, 2022). Fact Sheet – 2022 Part C and D Star Ratings. https://www.cms.gov/files/document/2022-star-ratings-fact-sheet1082021.pdf.

About the author

Christian Worstell is a senior Medicare and health insurance writer with MedicareAdvantage.com. He is also a licensed health insurance agent. Christian is well-known in the insurance industry for the thousands of educational articles he’s written, helping Americans better understand their health insurance and Medicare coverage.

Christian’s work as a Medicare expert has appeared in several top-tier and trade news outlets including Forbes, MarketWatch, WebMD and Yahoo! Finance.

Christian has written hundreds of articles for MedicareAvantage.com that teach Medicare beneficiaries the best practices for navigating Medicare. His articles are read by thousands of older Americans each month. By better understanding their health care coverage, readers may hopefully learn how to limit their out-of-pocket Medicare spending and access quality medical care.

Christian’s passion for his role stems from his desire to make a difference in the senior community. He strongly believes that the more beneficiaries know about their Medicare coverage, the better their overall health and wellness is as a result.

A current resident of Raleigh, Christian is a graduate of Shippensburg University with a bachelor’s degree in journalism.

If you’re a member of the media looking to connect with Christian, please don’t hesitate to email our public relations team at Mike@tzhealthmedia.com.

 

 

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