The Medicare Advantage market is fiercely competitive and any angle that will attract potential members is fair game.
Co-branding Medicare products is not new for Humana. The Humana Walmart Preferred Rx planis a very popular Part D plan offered nationally..
Humana aims to capitalize on the fact that Reader’s Digest connects with and entertains approximately 130 million consumers world wide by offering the Humana Reader’s Digest Healthy Living Plan.
This article will provide a brief overview of the Human Reader’s Digest Medicare Advantage plan and provide tips on comparing this plan to other Advantage plans you may have available.
Humana Reader’s Digest Healthy Living Plan – a little misinformation
The association between Humana Medicare and Reader’s Digest was announced in May 2011 with a press release from Readers Digest Association, Inc. (RDA) where it was stated that:
“The co-branded Humana and Reader’s Digest plans will begin with a Medicare Supplement product offered in a select number of states, with plans to eventually make the product available in all 50 states, Washington D.C. and Puerto Rico”.
How unfortunate for Humana that their partner in this co-branding effort doesn’t make the distinction between their Medicare supplement and Medicare Advantage plans. Many people will visit medicare.gov to search for plans and find the Medicare Advantage plan, many thinking they have found a supplement.
If you review your Medicare & You Handbook from Medicare you will see that they go to great lengths to make a distinction between a Medicare supplement and a Medicare Advantage plan.
Humana Reader’s Digest Medicare Advantage Plan benefits
The Reader’s Digest plan by Humana is the latest entry in the preventative and healthy lifestyles segment of Medicare Advantage plans. The plan will include some dental and vision benefits as well as discounts on Reader’s Digest products and publications.
A review of this plan available in Florida includes the following benefits:
- $0 monthly premium
- PPO allows out-of-network coverage at an additional cost
- Part D include with a $0 deductible
- Dental and vision benefits
Overall a fairly generic plan. You more than likely have similar options from other carriers available in your area. In order to determine if the 2013 Humana Reader’s Digest Plan is right for you will require a little more research.
Comparing the Reader’s Digest Medicare plan to other options
The following points assume that you have decided on enrolling in a Medicare Advantage plan rather than purchasing a Medicare supplement.
There are three plan documents that are important when you compare Medicare Advantage plans.
1. The Summary of Benefits will detail all services covered and your out-of-pocket costs for each service. It will also include your annual maximum out-of-pocket cost.
2. The Provider Directory details all in-network providers. Don’t stop at your primary care doctor, investigate the hospitals and out patient facilities included as well.
3. The Part D Formulary is a list of all included medications as well as information on tier placement. Having your drugs include is most important aspect of a Part D plan.
Take some time to analyze all information related to the plans you are considering. Remember that you are enrolling in a Medicare Advantage plan to protect your health and wealth, not to get discounts on magazines.
The Humana Reader’s Digest Healthy Living Plan is sure to attract many members through the Reader’s Digest advertising campaigns but I would be leery of Medicare related content from a publication that blurs the distinction between a Medicare supplement and a Medicare Advantage plan.