Medicare beneficiaries in Minnesota will find more health insurance options for 2020, including policies sold by two new companies and more plans that don't charge a premium.
The open-enrollment period for Medicare beneficiaries to select new Medicare Advantage and Part D plans for next year begins Oct. 15 and runs through Dec. 7.
Health insurance companies aren't allowed to tell consumers any specifics about pricing and plan options for 2020 until Oct. 1, but government agencies on Tuesday started providing some information.
"We want people to look at what they currently have and look at the other options that are available," said Kelli Jo Greiner, the Medicare product manager with the Minnesota Board on Aging. "The formularies can change, the provider networks can change and people need to make sure that those two things are still going to be in place for them come January."
Greiner said Medicare Advantage premiums for the most part will hold steady for next year.
Just over 1 million beneficiaries in Minnesota are enrolled in Medicare, which is the federal government's health insurance program for people age 65 and over. The program also covers some younger people with certain health care needs.
The state's health insurance market for Medicare beneficiaries saw a big shake-up for 2019 as a federal law forced insurers to stop selling a popular form of coverage called Medicare Cost plans across most counties in the state including the Twin Cities metro.
The change prompted about 300,000 people to make a choice between original Medicare and Medicare Advantage plans. Consumers with original Medicare often buy Medigap and Part D supplementary coverage, while Medicare Advantage coverage comes from private insurance companies that typically include drug coverage as part of their benefits.
