With over 5 million members in all 50 states, Humana is one of the country’s largest Medicare Advantage insurers. Their plans combine comprehensive medical and prescription drug coverage with additional benefits not covered by original Medicare, such as dental, vision, hearing, fitness programs, and more. With 2024 open enrollment approaching, many seniors are wondering what to expect from Humana Advantage policies next year.
This guide contains all of the important information that potential members need to know about costs, coverage changes, provider access, and how to choose the best Humana Medicare Advantage plan for your health and budget needs when making 2024 decisions.
Premiums and Deductibles 2024
The most pressing concern for seniors is how much they will have to pay in premiums and other out-of-pocket expenses under Humana’s 2024 plans. While specifics will not be released until October 2023, experts predict that average monthly premiums will rise by about $10 per member as a result of general healthcare inflation. However, most states should see increases of less than $20.
Humana also reduces costs through programs such as member rewards, which reimburse $500 or more in out-of-pocket medical expenses. Most Humana Advantage plans have deductibles of less than $100, and some even have none. So, while 2024 monthly rates rise slightly, upfront yearly costs remain low.
Covered Medical Services
All Humana Medicare Advantage plans include the same Part A hospital services and Part B outpatient care as Original Medicare. This includes doctor visits, ER care, hospitalization, clinical research, durable medical equipment, ambulatory surgery, and other services with predetermined copays or coinsurance costs.
Humana intends to expand Medicare-covered hearing aid benefits in 2024, as well as add certain dental services that previously required separate premiums. This is a continuation of efforts to include more health services in base Advantage plan rates. Members also receive allowance amounts for vision, fitness, healthcare, transportation, and other benefits at no additional cost.
Prescription Drug Coverage
One significant advantage of Medicare Advantage is built-in Part D prescription medication coverage, which combines all medical benefits into a single plan and allows you to use any pharmacy. In 2024, Humana will restructure its Rx formulary tier system to better align copay costs with drug efficacy and affordability.
While many generics and clinically preferred brands are becoming more affordable, some non-preferred medications will see slight copay increases to encourage patients to choose effective, lower-cost alternatives. However, Humana’s drug coverage remains extensive. Members also get allowances for certain over-the-counter medications, in addition to the existing multi-month prescription options.
Provider and Pharmacy Networks
Humana Medicare Advantage plans use the HumanaChoice network, which includes over 300,000 primary care doctors, specialists, and hospitals nationwide. Their website’s search tools and plan finders indicate whether your preferred local providers are participating. In 2024, Humana expands dental coverage to include nationwide access to 150,000 dentists that members can nominate to join the network if they are not already enrolled.
This ensures that coverage is applicable across all 50 states and to travelers. Pharmacy coverage also includes over 66,000 retail pharmacies near you, such as CVS, Walgreens, and Walmart.
Supplemental Benefits
A key advantage of Humana Medicare Advantage is access to supplemental benefits and rewards that are not covered by original Medicare. These enable members to stay active while also addressing healthcare needs in a more holistic manner.
For 2024, most Humana Advantage plans include quarterly member reward points redeemable for gift cards worth $500 or more, as well as allowances for routine dental, vision, hearing, and gym memberships. Higher-tier plans include worldwide travel emergency services, meal benefits, caregiver support, and more fitness incentives. New for 2024 is 24/7 telehealth access to doctors, regardless of current medical condition or location while traveling.
Humana Plan Options and Enrollment
Rather than taking a one-size-fits-all approach, Humana provides a variety of Medicare Advantage plans based on healthy needs and coverage priorities. Options range from low-premium HMOs and PPOs focused on routine care to Special Needs Plans designed for chronic conditions.
This diversity ensures an ideal match, regardless of health status. Members can use Humana’s online plan finder tool or consult licensed agents to determine the best plan specifications for their individual circumstances, including details on 2024 changes. Enrollment for new members begins on October 15th, 2023, but current members may switch earlier during the Annual Election Period.
How to Choose the Best Plan for 2024
Choosing the best Humana Medicare Advantage plan for 2024 necessitates an understanding of plan types, special programs, and comparing specifications such as deductibles, premiums, and drug coverage to your expected medical utilization next year. In general, Humana Gold Plus HMO plans provide comprehensive coverage with additional benefits starting at $50 per month. Regional PPOs are better suited to travelers, but they cost slightly more.
Humana Walmart Value Rx plans benefit those who use a large number of Tier 4-5 brand name or specialty drugs. Regardless, all options include critical core healthcare services, allowing members to customize supplemental benefits, fitness programs, and other features based on changing needs and priorities.
Key Features and Member Resources
Along with quality medical coverage and lower costs, Humana creates a variety of member resources to support preventative self-care and healthcare navigation assistance. MyHumana and other member portal tools offer 24/7 access to plan details, ID cards, claims tracking, wellness incentive status, and telehealth visits.
Members also have access to SilverSneakers fitness programs, caregiver relaxation plans, Humana at Home provider referrals, and, as of 2024, enhanced dental support resources. HumanaGuidance advisors provide personalized assistance with everything from finding providers to coordinating home care.
Conclusion
Humana Advantage Plans continues to develop a comprehensive, integrated healthcare experience focused on what is most important to members: affordability, access, and outcomes. As the nation’s largest Medicare insurer, Humana uses formidable resources to reduce costs, expand covered benefits, and invest in revolutionary coordination programs that support members more holistically both inside and outside of clinical settings.
While premiums rise slightly in 2024, Humana policies remain competitively priced Medicare Advantage solutions that meet a wide range of needs thanks to their extensive care scope, supplemental coverage, and growing member support resources. Reviewing all changes prior to next year’s enrollment period gives current and prospective members complete confidence that choosing Humana means choosing health.
