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Best Medicare Advantage Plans for 2022


When it comes to Medicare, seniors have plenty of different options. One of these options is a Medicare Advantage plan. Medicare Advantage plans are through private insurance companies. Below we’ll discuss the best Medicare Advantage plans & carriers. These carriers are top companies that have proven themselves in the Medicare space time and time again.

Best Medicare Advantage Plans and Carriers for 2022

  1. Aetna
  2. Humana
  3. Cigna

These long-standing companies offer the best Medicare Advantage plans year after year. Medicare Advantage plans pay your medical costs instead of Medicare. When you go to the doctor, your Medicare Advantage Plan card is your main card for Medicare.

Medicare Advantage Enrollment

Some plans include prescription drug coverage, but make sure to check the Part D formulary before enrolling. Some plans even include routine dental, routine eye care, and silver-sneakers fitness programs. Some plans also include a Part B give-back benefit. Choosing a reliable company to handle your Medicare Advantage benefits is essential.

42% of Medicare beneficiaries are enrolled in Medicare Advantage plans. Some states have more plan enrollees than other states. For example, fewer beneficiaries in Louisiana are enrolled in Medicare Advantage than the percentage of people in Florida.

Which Company Has the Best Medicare Advantage Plan?

The answer to this question depends on what you define as best. Does best mean the lowest monthly premium, or does best mean lowest cost-sharing. Maybe best to you means the highest overall customer satisfaction rating or the plan with the most benefits. Below, we listed the best Medicare Advantage carriers based on company ratings, coverage options, and benefits.

Aetna Medicare Advantage Plans for 2022

The Aetna Medicare Advantage plans are number one on our list. Aetna is one of the largest health insurance carriers in the world. They have earned the title of an AM Best A Rated Company.

These plans have options- HMO or PPO, zero or low premiums, and added benefits. You can choose the plan that is right for you and your needs.

Aetna has options to keep you healthy; they have annual wellness visits, hearing, vision check-ups, and Part D coverage. If you want discounts on fitness centers, you can choose a plan with that option.

Aetna has a vast network of doctors, hospitals, and many other benefits. If you have more than one doctor you want to see, an Aetna plan might be the best plan for you.

The network of pharmacies is also extensive, making filling your prescription someplace nearby easier. Many of the preferred generic drugs start at just $1.

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Humana Medicare Advantage Plans for 2022

Humana has been providing Medicare Advantage coverage for over 20 years. With millions of Medicare members, Humana Medicare Advantage plans have some of the lowest out-of-pocket costs.

For example, some maximum out-of-pockets are as low as $2,200. If this plan is in your service area, that would mean the most you can spend on copayments and coinsurances for the year is $2,200.

If you have high health care costs, a Humana Medicare Advantage plan might be best for you. Many of Humana’s plans come with additional benefits to support your wellbeing. Most Medicare Advantage plans include fitness programs and access to more than 13,000 fitness centers, convenient mail-order pharmacy services, and a 24/7 nurse advice line.

Silver Sneakers gives you access to gyms and exercise classes throughout the United States, with no membership fees required.

Also, two Medicare Advantage contracts in Florida and Tennessee have a 5-star rating on CMS. 5-star plans have a Special Enrollment Period option; so, if you don’t have a 5-star plan, you can enroll in the high-quality plan anytime during the year.

Cigna Medicare Advantage Plans for 2022

Cigna has been around for hundreds of years. Just like Aetna, Cigna has an A Rating with A.M Best company. Cigna offers more than just experience; they provide expertise. They understand one size doesn’t fit all when it comes to Medicare needs and plans. That is why Cigna offers many plan options, including Special Needs Plans.

Cigna has special needs plans for people in nursing homes or skilled nursing care, or people with diabetes, cardiovascular issues, and options for people with Medicare and Medicaid.

Cigna has over 86 million members worldwide.

What You Need to Know About Medicare Advantage Plans

  • You can only join at certain times during the year unless you qualify for a Special Election Period. In most cases, you enroll in a plan for a year.
  • The Medicare Advantage Open Enrollment Period allows beneficiaries to switch to another plan. They can even return to Medicare and enroll in a Medicare Supplement plan if they’re unhappy with their current Medicare Advantage plan.
  • Check with the plan before you get a service to find out if the service is covered and what your costs might be.
  • Many times, Medicare Advantage plans require prior authorization.
  • Following plan guidelines, like getting a referral when needed, can keep your costs lower. Check with your plan.
  • Providers can join and leave a plan’s provider network at any time during the year. Your policy can change the providers in the network at any time. If either of these things happens, you’ll need to choose a new provider.
  • If your plan decides to stop participating in Medicare, join another Health plan or return to Medicare.
  • Once you enroll, you’ll automatically lose any drug plan you had. You can’t have an MA plan and a separate prescription drug plan unless it is a PFFS Medicare Advantage plan.
    • You get prescriptions through most Medicare Advantage plans. Individuals with a Medigap or Medicare will need a separate drug policy.

Understanding the Types of Medicare Advantage Plans

There are different types of Medicare Advantage Plans; Health Maintenance Organizations (HMO) plans, Preferred Provider Organization (PPO) plans, Private Fee-for-Service (PFFS) Plans, Special Needs Plans (SNPs), and HMO Point-of-Service (HMO-POS) plans.

  • HMO plans only cover you when you go to doctors, providers, or hospitals in your plan’s network except in urgent or emergencies. Referrals from primary care doctors to see other doctors or specialists may be required.
  • PPO plans will generally cover you outside the network with a higher out-of-pocket cost to you.
  • PFFS plans are most like Medicare; you can go to any doctor, provider, or hospital if they accept the plan’s payment terms.
  • Special Needs Plans provide specialized health care for specific groups of people, like those with Medicare and Medicaid, people living in a nursing home, or those with certain chronic medical conditions.
  • HMO-POS plans may allow you to get some services out-of-network for a higher cost.

FAQs

What is the Highest Rated Medicare Advantage Plan?
Of course, every person and location will have a different “best” option. But, overall, we love Aetna Medicare Advantage plans for the more extensive doctor networks than some of the other options. But, Humana and UnitedHealthcare are still both companies with high customer satisfaction ratings.
Why are some Medicare Advantage plans free?
Some Medicare Advantage plans are free because Medicare pays them monthly to take on your risk. Once you start using the benefits, you’ll start spending money out of pocket. That’s how the carriers make money, between Medicare paying them directly and cost-sharing.
What do Medicare Advantage plans not cover?
Yes, Medicare Advantage plans must cover the same services as Medicare, but they don’t cover all the gaps in Original Medicare like Medigap plans do. They leave you with high out-of-pocket spending.
What are the drawbacks of Medicare Advantage?
The drawbacks of Medicare Advantage plans include doctor network limitations, unpredictable cost-sharing, they don’t travel with you, they come with prior authorization requirements, and their summary of benefits changes annually.

How to Get Help Deciding on the Best Medicare Advantage Plan for You

Our agents will gather some health information from you, then see what the best Medicare Advantage plans are available in your area. We can also compare Part D and the most popular Medigap plans for you as well. We worth with all the leading carriers, saving you time when comparing your options. Give us a call now, or you can compare rates by filling out our rate form here.

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Jagger Esch

Jagger Esch is the Medicare expert for MedicareFAQ and the founder, president, and CEO of Elite Insurance Partners and MedicareFAQ.com. Since the inception of his first company in 2012, he has been dedicated to helping those eligible for Medicare by providing them with resources to educate themselves on all their Medicare options. He is featured in many publications as well as writes regularly for other expert columns regarding Medicare.

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