Medicare Advantage plan extras are starting to get attention on Wall Street.
Gail Boudreaux, the CEO of Elevance Health — the health insurance giant once known as Anthem — talked about the appeal of supplemental benefits during a time of high inflation Wednesday during a conference call with securities analysts.
About 75% of the plans Elevance is offering for 2023 have a $0 monthly premium. Many offer transportation, dental, vision and in-home support benefits.
And some of the "free" plans provide prepaid cards that enrollees can use to buy groceries.
"With widespread pressure on the cost of daily living, affordability and value are more important for seniors than ever," Boudreaux said.
Elevance held the conference call to go over third-quarter results with securities analysts. The quarter ended Sept. 30.
What It Means
Because a wide range of social factors can affect health outcomes, Medicare Advantage program health outcomes incentives may be giving health insurers a financial incentive to ensure that enrollees have a good standard of living.
You want your clients to have good insurance and adequate savings.
Elevance wants them to have fresh fruits and vegetables in their kitchens.
The Market
Elevance is an Indianapolis-based company that provides or administers health coverage for 47 million people, through a wide range of commercial health insurance and government health coverage programs.
Medicare Advantage gives private insurers a chance to offer coverage to the 64 million people who are eligible for Medicare. Plan revenue includes Medicare program money as well as enrollee premium payments.
