As one of the largest and oldest health insurance companies in the United States, Cigna also has a global presence. Cigna is one of the top 10 Medicare Advantage plans for enrollment. The company offers national coverage for Prescription Drug Policies and near-nationwide coverage for Medigap plans. There are just 18 states in which Cigna's Medicare Advantage plans may be purchased. Cigna plans aren't always the cheapest but aren't the most expensive.
Overview of Cigna's Medicare Advantage Program
The use of Medicare Advantage plans is on the rise. Centers for Medicare and Medicaid Services expect 26 million Medicare beneficiaries to be enrolled in an M.A. plan or another kind of insurance outside of the regular Original Medicare system in 2021. (CMS).
Cigna is one of a handful of Medicare Advantage providers that account for a large percentage of Medicare enrolment in the United States. According to the Kaiser Family Foundation, Cigna only has a minor share of the M.A. market compared to UnitedHealthcare and Humana, which each claimed 26% and 18% of M.A. membership in 2019. As of the end of 2019, Cigna has around 440,000 members of the total 22 million Medicare Advantage enrollees in the United States.
Advantages and disadvantages of Cigna Medicare
Pros
In addition to low or no monthly costs, Cigna provides Medicare Advantage options. In 89 percent of Cigna's plans, primary care office visits are covered at no cost to the patient. Dental, vision, and hearing coverage are all included in Cigna's M.A. plans, in addition to the essential hospital and medical insurance that Original Medicare provides.
Cons
Medicare Advantage plans offered by Cigna are currently only accessible in 18 states in the United States. Most of Cigna's Medicare Advantage plans are Health Maintenance Organizations (HMOs). Good news: Medicare Advantage HMO-SNP and other variants are still readily available.
Available Plans
Medicare Advantage Plans
Medicare Advantage plans from Cigna include HMO, PPO, and Special Needs. Prescription medication coverage and other benefits like dental and vision are all options under several Cigna plans. Pharmacists assist doctors, specialists, and case managers coordinate treatment for members who choose prescription medication coverage. Access to I.D. cards, provider information, claims history and benefits information is available online for members.
Aside from providing 24/7 telehealth services for members with minor medical concerns, Cigna also provides access to mental health therapies for those who are suffering from conditions such as depression, anxiety, or addiction.
HMO Plans
A primary care physician (PCP) who serves as a gatekeeper to other health care services is a common requirement for HMO plans.
PPO Plans
Medicare Advantage PPO programs provide you more freedom to see doctors and hospitals outside of your network than other plans.
Special Needs Insurance (SNP)
Members with some medical issues may qualify for a Special Requirements Plan (SNP), which provides Medicare Advantage benefits such as prescription medication coverage, extra services, and programs tailored to their unique needs. Among the three types of Special Needs Plans (SNPs) offered by Cigna are D-SNPs for those with both Medicare and Medicaid, C-SNPs for persons with diabetes, and I-SNPs for those who require the type of care often provided by a nursing home.
Medicare Star Ratings
The Centers use five-star quality ratings for Medicaid and Medicare Services to rank Medicare Advantage and Prescription Drug Plans. These evaluations are based on how effectively the plans help members stay healthy and manage chronic problems and how users assess the plan and its customer service. Each state, county, and plan has a different number of stars.
Cigna's plans were rated between 3.0 and 5.0 out of 5.0 in the 2021 Star Ratings. Generally speaking, Cigna's Star Rating is 3.35 out of a possible 5. 40 of the 51 rated Medicare Advantage Part C and Part D Prescription plans received a 3.0 or 3.5 out of 5 stars.
Cost
Monthly premiums are the most apparent indicator to use when analyzing the price of a health insurance plan. It was predicted that the average monthly premium for all Medicare Advantage Prescription Drug Plan beneficiaries would be $21 in 2021, regardless of whether they paid a premium.
Competition: UnitedHealthcare vs. Cigna
Compared to UnitedHealthcare, the largest U.S. health insurer, Cigna has a comparatively tiny Medicare Advantage presence. Three different special needs Medicare plans are available via Cigna. CMS and NCQA have rated Cigna plans reasonably highly, although just a few plans have received the highest possible marks.
Cigna's higher out-of-pocket maximums might outweigh any savings from a reduced monthly deductible. UnitedHealthcare and Aetna are both huge and financially secure, but depending on where you reside, UnitedHealthcare may be the logical pick. In addition, UnitedHealthcare's alliance with AARP may provide reassurance. Still, the costs and quality of plans vary by region and require a rigorous examination to ensure that you obtain the most excellent plan quality for the money you spend.
