Now that October first is behind us, and everyone has had time to evaluate all the new benefits being offered for 2020 (Just kidding – reviewing what’s out there is an enormous task!), it is time to think about the 2021 plan year. There is no rest in the field of Medicare Advantage and Part D.
Some folks have already started with their 2021 application and expansion planning. Network providers might be in negotiations, state licensure filings are being drafted, and perhaps organizations are conducting feasibility studies to determine how to put their best foot forward in this market.
Other organizations might be taking a more cautious approach, and perhaps may not have gotten the head start that others have. If this sounds familiar, don’t worry, this is pretty common, but it’s time to make some decisions.
CMS has released the draft applications for both Medicare Advantage and Part D for industry comment. There were no major changes, but drafts are always worth a look as this is your opportunity to give the agency valuable feedback.
If you have not submitted a new application or a service area expansion request in a while, it is important to understand how the process has evolved. Document requests have changed, time frames maybe different, and the CMS review process can be a challenge if you do not know what to expect. If you have never submitted an application, be assured that the agency releases templates, instructions, and training. However, not everything is straightforward, and I say this having worked with many experienced plans who on an annual basis still struggle to understand the requirements or the review process.
Review the applications and if you have questions about the process or the requirements, start working them out now. You have 133 days until applications are due on February 12.