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Medicare Advantage, also known as Medicare Part C, is a popular form of health insurance coverage for U.S. adults age 65 and older. But finding the best Medicare Advantage provider and plan for you can be complicated—nationwide, insurance providers offer thousands of different Medicare Advantage plans each year [1] Medicare Advantage 2022 Spotlight: First Look. KFF. Accessed 9/20/2022. . Only by providing your ZIP code and demographic information can you see a list of plans for which you’re eligible, and even then, you’re likely comparing the details of dozens of plans.
To determine the best Medicare Advantage providers, the Forbes Health editorial team evaluated U.S. insurance companies that offer plans nationwide by how many states they provide coverage in, the types of benefits they offer, how the Centers for Medicare and Medicaid Services (CMS) ranked their plans, how agencies like A.M. Best ranked them in terms of their financial health, how agencies like J.D. Power ranked them in terms of consumer feedback and more. Read on to see which providers made the list.
Why You Can Trust Forbes Health
The Forbes Health editorial team prioritizes the accuracy and integrity of the data collected. Our ranking is based on quantitative data and is free from conflicts of interest. We carefully fact check the information featured in our ranking and are committed to producing rankings and supplemental content about Medicare Advantage providers that readers can trust. You can read more about our editorial guidelines and our methodology for the rankings below.
Partner Offers feature brands who paid Forbes Health to appear at the top of our list. While this may influence where their products or services appear on our site, it in no way affects our ratings, which are based on thorough research, solid methodologies and expert advice. Our partners cannot pay us to guarantee favorable reviews of their products or services
Compare Plans From Every Major Carrier
Blue Cross Blue Shield is a major national insurance provider with a number of Medicare Advantage plans in its portfolio. Since coverage eligibility is largely based on your location, Blue Cross Blue Shield runs a collection of state-based companies to better tend to its insurees. Consider the reputation of your local Blue Cross Blue Shield company when you search for your ideal Medicare Advantage Plan, as experiences vary from state to state.
Our Review
Jessica is a writer, editor and media professional who has spent her career working with some of the most influential names in media. Prior to joining Forbes Health, Jessica was the manager of creative communications at Hearst, where she specialized in high-level production and project management. As a freelance writer, Jessica has written across a range of topics, including entertainment, travel and career. Her work can be found in Variety, Paste Magazine, The Muse and on her personal website (jessicamlester.com).
Jessica is a writer, editor and media professional who has spent her career working with some of the most influential names in media. Prior to joining Forbes Health, Jessica was the manager of creative communications at Hearst, where she specialized in high-level production and project management. As a freelance writer, Jessica has written across a range of topics, including entertainment, travel and career. Her work can be found in Variety, Paste Magazine, The Muse and on her personal website (jessicamlester.com).
I appreciate that Blue Cross Blue Shield maintains a well-known reputation in the insurance space and it seems natural that reputation translates into Medicare Advantage coverage as well. The company’s expansive plan offerings and large network size make it a considerable option for customers living in coverage areas.
Pros & Cons
In my experience, many people who have Humana are satisfied with the coverage and tend to want to keep their plan,” says John Freitag, an independent insurance broker at Freitag Family Agency in Pennsylvania. “Humana Medicare Advantage plans can help control costs that traditional [Medicare parts] A and B alone don’t cover. Medicare alone only covers 80% of health care costs, leaving you vulnerable to large bills with no limit.
Why We Picked ItIf you’re interested in comprehensive coverage, consider plans from Humana for which you’re eligible. The national health care provider serves older adults nationwide and offers plans with monthly premiums, physician copays and specialist copays starting at $0 per month. Keep in mind that the amount of providers available varies based on where you live.
Pros & Cons
Aetna—a CVS Health company—makes it easy to get the coverage you need, plus additional benefits like prescription home delivery, access to a 24-hour nurse line, a SilverSneakers fitness membership and more. Depending on the plan, monthly premiums can be as low as $0 while physician copays start at $35 and specialist copays start at $50.
Pros & ConsThough Aetna’s Medicare Advantage plans vary widely across locations, experts find the provider to be a reliable option. “The Aetna Medicare Advantage HMO in Florida is a strong plan with regard to the depth and breadth of the doctor and facilities network, low cost co-pays and generous supplemental benefits,” says Elisa Karen Ball, a Medicare insurance specialist licensed in Florida who is also an Aetna Medicare Advantage plan beneficiary.
Largest Provider Network
If network size is your top priority, consider any UnitedHealthcare plans for which you may be eligible, as it has more than 1.3 million physicians and care professionals and 6,500 hospitals and care facilities in its nationwide network. Premiums, physician copays and specialist copays can also start as low as $0 depending on the plan, and additional benefits, including dental, vision, hearing and lifestyle coverage, may be available as well.
Pros & Cons“I think UnitedHealthcare is a great company,” says Jennifer Croslin, independent insurance broker and founder of Starlight Insurance Agency LLC in Littleton, Colorado. “With UnitedHealthcare Medicare Advantage, you can choose different coverage options to best suit your needs and get the most out of your health care.”
Best Additional Benefits
Cigna doesn’t cast as wide of a net with its nationwide coverage, but people who live in areas it does serve can certainly benefit from its robust coverage options and trusted reputation. Some of its plans come with dental and vision coverage, and in many areas, additional benefits for hearing coverage, lifestyle coverage and transportation coverage are available as well. Cigna also prioritizes the availability and use of telehealth to make it easier for its customers to access the care they need. And for no extra cost, the company provides additional perks, from behavioral and emotional support services to medication therapy management to health and wellness discounts.
Our Review
Jessica is a writer, editor and media professional who has spent her career working with some of the most influential names in media. Prior to joining Forbes Health, Jessica was the manager of creative communications at Hearst, where she specialized in high-level production and project management. As a freelance writer, Jessica has written across a range of topics, including entertainment, travel and career. Her work can be found in Variety, Paste Magazine, The Muse and on her personal website (jessicamlester.com).
Jessica is a writer, editor and media professional who has spent her career working with some of the most influential names in media. Prior to joining Forbes Health, Jessica was the manager of creative communications at Hearst, where she specialized in high-level production and project management. As a freelance writer, Jessica has written across a range of topics, including entertainment, travel and career. Her work can be found in Variety, Paste Magazine, The Muse and on her personal website (jessicamlester.com).
Jessica Lester, Lead Editor, Forbes Health
“Though Cigna’s coverage area is less expansive than some competing providers, the company offers low prescription and specialist copay options, which may be ideal for customers seeking coverage on a stricter budget. I also appreciate the company’s focus on extra benefits in its Medicare Advantage plans, specifically caregiver support, in-home delivered meals, diabetic supplies and its virtual companionship program.”
Anthem Inc., which rebranded to Elevance Health Inc. in 2022, is part of the Blue Cross Blue Shield network. It offers a range of Medicare Advantage plans in 14 states, as well as educational resources, such as free Medicare events where customers can learn more about their Medicare Advantage plan options.
Pros & Cons“Anthem seems to be very good at identifying the ‘extras’ that members are looking for,” says Jake McGeoy, senior manager of agent relations at Ritter Insurance Marketing in Reisterstown, Maryland. “The Flex Card has been a big hit, [and] members like being able to pick and choose their benefits to create a personalized plan.”
To learn more about Anthem Medicare Advantage plans, read our review here.
To determine the best Medicare Advantage providers, the Forbes Health editorial team evaluated all insurance companies that offer plans nationwide in terms of:
We focused exclusively on providing general summaries of the companies and their reputations. In order to provide specific plan recommendations accurately, it’s important to take into account the ZIP code and demographic details of the individual seeking insurance coverage. To do so, we recommend using Medicare.gov’s plan finder tool or seeking the expertise of an independent, agnostic insurance agent.
Medicare Advantage is an all-in-one plan choice alternative for receiving Medicare benefits. You may also hear it referred to as Medicare Part C. This plan is bundled with Medicare Part A and Part B and usually includes Part D, which provides prescription drug coverage.
Medicare pays private insurance companies to administer the benefits of Medicare Advantage plans they sell. These plans then function the same way Original Medicare (Part A and Part B) does, with the addition of benefits the private insurance provider elects to include in a given plan.
Depending on the provider and plan you choose, Medicare Advantage coverage works similarly to employer-sponsored health insurance with which you may be familiar. For a monthly premium in addition to the Medicare Part B premium, an MA plan provides set copays, coinsurance rates and deductibles for various components of care, as well as additional coverage benefits and perks.
FEATURED PARTNER OFFERPartner Offers feature brands who paid Forbes Health to appear at the top of our list. While this may influence where their products or services appear on our site, it in no way affects our ratings, which are based on thorough research, solid methodologies and expert advice. Our partners cannot pay us to guarantee favorable reviews of their products or services
Compare Top Medicare Plans From Major Carriers
All Medicare Advantage plans are required to offer all coverage provided by Original Medicare (Part A and Part B), which generally includes:
Some Medicare Advantage plans offer valuable additional benefits, such as:
Individuals who want a bundled health insurance plan that includes coverage for benefits like vision, hearing and dental services may prefer Medicare Advantage. Additionally, most Medicare Advantage plans include Part D coverage, which may be appealing to individuals who take prescription medications.
Medicare Advantage may not be the best option for individuals who prefer to manage their health benefits individually. Instead, these beneficiaries may prefer to shop for supplemental coverage via a Medigap plan. Individuals who maintain health insurance coverage from a former employer or through Medicaid may not need the additional benefits Medicare Advantage offers.
During the open enrollment period, which runs from October 15 to December 7 each year, you can join, switch or drop a plan for your coverage to begin on January 1 of the following year. If you’re already enrolled in a Medicare Advantage plan, you can switch to a different Medicare Advantage plan or Original Medicare during the Medicare Advantage open enrollment period, which starts on January 1 and ends on March 31 annually. You can only make one switch during that time period.
If you’re already enrolled in Original Medicare (Parts A and B), you may be eligible to switch to a Medicare Advantage plan (Part C). You must be at least 65 years old or have certain disabilities, such as permanent kidney failure or amyotrophic lateral sclerosis (ALS). If the Medicare Advantage plan you choose doesn’t already have prescription drug coverage, you have the option to enroll in Part D.
The best time to enroll in a Medicare Supplement plan is during your Medigap Open Enrollment Period, a six-month timeframe that begins the first day of the month you turn 65 and enroll in Medicare Part B. During this window, you’re guaranteed enrollment in the plan of your choice and not subject to medical underwriting.
Any Medicare-eligible individual can enroll in, drop or switch Medicare Advantage plans during Medicare’s annual enrollment period, which runs from October 15 to December 7 annually. Meanwhile, those already enrolled in a Medicare Advantage plan specifically can also switch Medicare Advantage plans during the Medicare Advantage open enrollment period, which runs from January 1 to March 31 annually. All 2024 plans are currently available via Medicare.gov.
Some Medicare Advantage plans may have lower out-of-pocket costs than Original Medicare, and some have a $0 monthly premium. Here are a few questions to consider before purchasing a plan.
Once you’re enrolled in a Medicare Advantage plan, it becomes your primary insurance. The provider handles paying all your claims, and the cost of your plan is likely to change every year. The plan provider (rather than Medicare) sets the amounts charged for premiums, deductibles and services. An Annual Notice of Change (ANOC) is mailed to you each September, which goes into effect the following January 1.
Factors like location play a major role in determining the cost of a Medicare Advantage plan. Costs are typically lower when you use providers in your plan’s network and service area. To find the specific cost of a Medicare Advantage plan in your zip code, visit Medicare.gov.
The following example shows how Medicare Advantage plan prices vary by state. Note: Your costs may differ from these ranges even if you live near but not in one of these areas, as rates are set by ZIP code.
Most Medicare drug plans have a coverage gap called the “donut hole,” which means there’s a temporary limit on what the drug plan will cover. “A person gets limited coverage while in the ‘donut hole.’ whether on a Medicare Advantage plan or a separate Part D plan,” says Antinea Martin-Alexander, founder of Advocate Insurance Group in South Carolina. “The individual will pay no more than 25% of the cost of the medication in the donut hole until a total out of $6,550 in out of pocket expenses is reached. There are different items that contribute to the out-of-pocket expenses while in the donut hole: any yearly drug deductible you may have, copays for any and all your medications, what the manufacturer’s discount is on that medication and what the insurance company pays for that medication,” she says.
There are four common types of Medicare Advantage plans to compare when making your selection.
Health Maintenance Organization (HMO)
Preferred Provider Organization (PPO)
Private Fee-for-Service (PFFS)
Special Needs Plans (SNP)
It’s easy to switch Medicare Advantage plans if you’re already using a Medicare Advantage plan. Enroll in a new plan during one of the open enrollment periods, and your old plan will disenroll you once your new coverage begins. If you receive medical insurance through an employer or elsewhere, speak with your provider to understand how you and your family’s coverage may change while under Medicare Advantage before deciding to make the switch.
Consider the following details when deciding whether a Medicare Advantage plan or Original Medicare is best for you.
Medicare Advantage plans serve as a substitute for Original Medicare, providing that same coverage plus additional benefits like prescription drugs coverage (Part D). Meanwhile, Medicare Supplement plans, or Medigap plans, are sold by private insurance companies to people enrolled in Original Medicare to help fill the gaps of that coverage.
The 10 types of Medigap plans provide standardized coverage to beneficiaries nationwide and help pay for things like deductibles, coinsurance and copays. Because plan coverages are standardized, only monthly premium rates vary from provider to provider. Also, Medigap policies don’t typically cover prescription drugs. A person enrolled in Original Medicare who wants prescription drug coverage needs to purchase a separate Medicare Part D plan in addition to any Medicare Supplement plan. Many Medigap plans don’t provide dental, vision or hearing coverage, either.
Conversely, Medicare Advantage policies are only standardized in that they must provide the same benefits of Original Medicare. Once this threshold is met, private insurance providers can add any number of benefits and services to a plan—prescription drugs, dental care, vision care and more—to make them more comprehensive (and often more expensive).
FEATURED PARTNER OFFERPartner Offers feature brands who paid Forbes Health to appear at the top of our list. While this may influence where their products or services appear on our site, it in no way affects our ratings, which are based on thorough research, solid methodologies and expert advice. Our partners cannot pay us to guarantee favorable reviews of their products or services
Let us Help You Find the Medicare Plan that May Be Right For You.
Medicare Advantage plans have some elements you might find appealing, as well as other features that may not match your needs. Consider both the benefits and drawbacks below before enrolling in a Medicare Advantage plan.
• Must offer at least the same level of coverage as Original Medicare • Must use network providers and live in the service area for at least six months of the year • Easy to switch from one Medicare Advantage plan to another if already enrolled in one• If you use an out-of-network provider, your costs may be higher or not covered and may go toward your out-of-pocket limit
• Costs are typically lower, with most premiums starting at $0, lower coinsurance or copayments, limits on out-of-pocket spending and potential coverage for your Part B premium
• Requires prior authorizations for hospital stays, procedures, home health care and medical equipment
• Many plans offer added benefits, such as vision coverage, dental coverage, hearing coverage, drug coverage and fitness benefits
• Often requires referrals for specialist See More See Less“Find a knowledgeable insurance agent,” says Joe Valenzuela, co-owner of Vista Mutual Insurance Services in the San Francisco Bay area. “Having an agent doesn’t cost the member anything. Medicare insurance agents are subject matter experts—many have spent years learning the ins and outs of each plan they represent. There are also many nuanced differences between Medicare Advantage plans. An agent can narrow down the search to only those plans that most closely align with the client’s needs.”
Valenzuela recommends asking what is most important to you when choosing a Medicare Advantage plan and keeping that priority top of mind. He also suggests paying attention to the fine print in the plan you select.
“Once you narrow your search down to one or two plans, look through the plan’s benefits line by line—you don’t want any surprises,” he says. “For example, a plan may have a low premium and copayments but might cost you much more each month in prescription copays.”
“A couple of important benefits to look at are the plan’s annual out-of-pocket maximum (the maximum amount the member could be responsible for in a calendar year) and your prescription drug costs,” adds Valenzuela. “Check all your medications on the plan’s formulary so you’re aware of the prescription copayments, deductibles and any restrictions.”
HealthCompare Insurance Services does not offer every plan available in your area. Currently it represents 18 organizations, which offers 52,101 products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.
HealthCompare Insurance Services represents Medicare Advantage HMO, PPO, and PFFS organizations and stand-alone PDP prescription drug plans that are contracted with Medicare. Enrollment depends on the plan’s contract renewal.
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