Teasing 2023 Expansions, Regional MA Insurers Eye Competitive Texas Market

As Medicare Advantage insurers gear up to compete for enrollment during the 2023 Annual Election Period (AEP) that begins on Oct. 15, a handful of companies have already unveiled service area expansions that are pending CMS approval. Several of them named new territories in Texas, where some 4 million Medicare beneficiaries reside.

According to DHP data from both the AEP and the three-month Open Enrollment Period that follows on Jan. 1, UnitedHealthcare dominated both periods and grabbed 45.1% of the overall OEP gains, followed by CVS Health Corp.’s Aetna and Centene Corp. But two other major insurers — Cigna Corp. and Humana —were notably missing the list of top gainers, despite investments in their MA segments. Now, those companies are taking steps to make up for the lackluster enrollment they experienced in 2022.