Anthem's (ANTM) MA Members to be Covered Under Highly Rated Plans
Anthem's (ANTM) 72% Medicare Advantage members to be covered under highly rated plans starting 2022. The ratings reflect the company's commitment to provide better healthcare.
Anthem, Inc. ANTM announced that more than 72% of Medicare Advantage (MA) members under its affiliated health plans will be covered by plans rated four stars or above starting 2022.
The ratings are indicative of the leading health insurers’ commitment to improving medical care, tying up with providers that cater to affordable, top-notch care and enhancing access to services and products for members.
The Centers for Medicare & Medicaid Services (CMS) issues Medicare Star Ratings, based on health plan members’ rating of care, how well illnesses are detected, etc. The measurement year for the 2022 CMS Ratings was 2020 when health insurers were challenged to meet high demand for quality care due to the COVID-19 pandemic.
The health insurer’s Medicare plans included support during the trying times when people were lonely and depressed, and also included virtual care options.
Medicare evaluates plans based on a 5-star rating system each year. Members can enrol in the Anthem-affiliated health plans on the basis of contract renewal. Acquisitions enabled it to boost its Medicare Advantage growth and strengthen its business portfolio.
Demand for Medicare is at an all-time high as people in the United States are still dealing with financial woes. At a time when unemployment levels are persistently high, the company’s Medicare business is likely to witness increased membership.
Per CMS, Medicare spending is expected to witness a growth rate of 7.6% from the 2019-2028 period’s level. This is also because of the rising number of baby boomers in the United States.
Other companies, such as Molina Healthcare, Inc. MOH, Cigna Corp. CI and Humana Inc. HUM are also expected to gain from high enrollment in their respective Medicare businesses.
Zacks Rank and Price Performance
Shares of this currently Zacks Rank #3 (Hold) company have gained 29.1% in a year’s time, outperforming its industry’s growth of 20.9%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other factors, such as its strategic buyouts and collaborations, and an improving top line along with the company’s expanded product portfolio should help the stock rally going forward.
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