The Next Big Thing in Health is a podcast where we explore the big new ideas that will help make health care more affordable, more available, and more effective.
Last week, AHIP President and CEO Matt Eyles was joined by Jeanette Thornton, AHIP Executive Vice President, Public Policy and Strategy. They discussed what’s new in open registration this year and what people should think about when making their decisions.
Eyes:
Hello, I’m Matt Eyles, President and CEO of AHIP, and welcome to a special episode of The Next Big Thing in Health. It’s open enrollment season, when Americans choose their health care coverage for 2023. Millions of Americans are considering their options, especially Medicare-eligible seniors and people with disabilities and those purchasing coverage on the market or the individual market. Medicare’s open enrollment period began October 15 and ends December 7. And open registration for the individual market runs from November 1 to January 15. This is a critical time to make your choice of coverage so you can continue to have the security and peace of mind that health insurance delivers. Today I’ll be speaking with Jeanette Thornton, Executive Vice President of Public Policy and Strategy at AHIP, about what’s new for this open enrollment season and what people should be thinking about when making their decisions. . Jeanette, thank you for joining me today.
Thorton:
Mast. So glad to be here.
Eyes:
Why don’t we start with some of the basics, like why is it so important for people to get health insurance coverage?
Thorton:
Thanks, Matt. That’s a very good question. With Thanksgiving and the Christmas holidays approaching, it’s so important to have the peace of mind that health insurance provides. When you are covered, you have access to routine examinations, screenings and preventive care. And it’s the perfect conversation to have around the dinner table.
Eyes:
Open enrollment is a matter of choice. How are Americans looking for choices in individual markets and Medicare Advantage this year?
Thorton:
Absolutely. Let me start with the individual market, Matt. This year we have over 200 companies providing individual market coverage. For some states, that means about six to seven companies per state and over 100 plans to choose from. It will be important to check healthcare.gov to see what plans are available in your area. For Medicare, we see a growing number of companies participating with an increase of more than 15% in participating companies over the past 10 years.
Eyes:
So we know that affordability is always a priority for consumers. Looking at the plans, how affordable are they?
Thorton:
Of course, that’s really important for people looking for coverage. So let’s talk about health insurance first. For the majority of people looking for coverage, they will be able to enroll in a $0 premium Medicare Advantage plan that includes drug coverage. This is an increase from those plans available since last year. And premiums are falling, we see that a projected average premium for 2023 Medicare Advantage plans is around $18 per month. For those seeking individual market coverage, you likely qualify for tax credits. More than 90% of those currently enrolled are taking advantage of these credits to make their coverage affordable for them and their families.
Eyes:
Premiums are always an important thing people consider when making a choice, but we know premiums shouldn’t be the only thing. What should Americans think about beyond price premiums to ensure their choice of health plan offers solid coverage?
Thorton:
Absolutely. It’s so important that when you’re looking for coverage, you don’t just focus on the premium or your co-payments or your deductible. It’s really important that you consider which doctors you use or which hospitals you visit are covered by the plan, and which prescription drugs you take are covered. If you’re considering enrolling in a Medicare Advantage plan, it’s also important to check out the additional benefits available. Many plans offer services such as grocery delivery and rides for transportation to and from doctor’s appointments, so it’s important to consider these additional benefits as well.
Eyes:
So we know it’s a very busy time of year with registrations open. What else are health insurers thinking about?
Thorton:
Absolutely. It’s been very busy and our goal is to make sure everyone is covered by affordable, high-quality health insurance. It is also very important to us that everyone has more choice and high quality care at an affordable price. We want people enrolled in coverage to get and stay healthy and that’s how we work every day to guide better health.
Eyes:
Yeah, I think that’s a really good message to end with Jeanette: we want everyone covered. It is so important for people to make sure they are protected and have coverage this year. So thank you very much for being with us today.
Thorton:
Thank you for.
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