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As more Medicare Advantage (MA) plans prepare to roll out new home care benefits in 2020, premiums are expected to drop 23% next year, the Trump administration announced Tuesday.
The news comes as more and more entrants continue to break into the market — and as the Centers for Medicare & Medicaid Services (CMS) prepares to give MA plans the most flexibility they’ve ever had in terms of covering non-medical in-home supplemental benefits.
Specifically, there will be about 1,200 more Medicare Advantage plans operating in 2020 than in 2018, the Trump administration said in a press release. Many of the new MA players were lured in by the promise of increased flexibility, according to Patrick Phillips, CEO of Cavulus.