Having Buyer’s Remorse Over Medicare Advantage Plan? You Can Still Switch Back
Medicare Advantage Disenrollment Period, which is open until Feb. 14, allows people enrolled in an Advantage plan for 2018 to switch to original Medicare. Meanwhile, in other Medicare news, the Centers for Medicare & Medicaid Services will start reviewing Advantage networks on three-year cycles.
CNBC:
If You're Tired Of Medicare Advantage, Now Is The Time To Ditch
If you missed your initial Medicare enrollment period or want to dump your Advantage Plan altogether, now's the time to do it. While early December marked the end of open enrollment — when Medicare recipients can make changes related to their Advantage Plan (Part C) and prescription drug coverage (Part D) — two separate windows opened Jan. 1 for people in certain situations. The first is the wordy Medicare Advantage Disenrollment Period, which lasts until Feb. 14. This is for people enrolled in an Advantage Plan for 2018 who want to switch to original Medicare (Part A hospital coverage and Part B outpatient coverage). The change takes effect the first day of the month after the request is received. (O'Brien, 1/3)
Modern Healthcare:
White House Greenlights CMS' Crackdown On Medicare Advantage Plans
The White House has signed off on the CMS' proposal to ensure Medicare Advantage plans have adequate provider networks. Starting next year, the CMS will start reviewing Medicare Advantage networks on three-year cycles rather than only when a company applies to be or renews their status in the program. The agency will also conduct intermediate full network reviews under certain circumstances, as when Medicare beneficiaries report access issues. (Dickson, 1/3)
In other Medicare news —
Forbes:
Smaller Rite Aid Plans To Grow PBM's Medicare Prescription Business
Rite Aid executives Wednesday said the smaller pharmacy chain will focus on eight states on the West and East coasts and grow its pharmacy benefit manager following the sale of more than 2,000 stores to Walgreens Boots Alliance. The smaller Rite Aid plans to use its EnvisionRx PBM as a key “growth engine for the entire enterprise,” Rite Aid President Kermit Crawford told analysts on a 70-minute conference call Wednesday evening to discuss its fiscal third quarter earnings. Rite Aid said its PBM is growing rapidly and will add more than 100,000 customers who purchase Medicare Part D drug benefits this year, growing a business that has already “surpassed 500,000 lives.” (Japsen, 1/3)
