MCS begins 2024 with 36K new Medicare Advantage members
Health insurer MCS is set to begin 2024 with more than 36,000 new beneficiaries who joined its Medicare Advantage (MA) plan during the latest annual enrollment period, which ended Dec. 7, surpassing the previous industry record in Puerto Rico of 29,000 in 2015, company officials announced.
MCS anticipates growth to “increase significantly” during the year, aided by a Special Enrollment Period (SEP) designed by the Centers for Medicare & Medicaid Services (CMS) to encourage quality and make five-star plans available throughout the year.
The SEP allows Medicare beneficiaries from lower-rated plans to switch to a five-star plan any time until Nov. 30. MCS Classicare is currently the only five-star rated plan in Puerto Rico.
“At MCS, we saw excellent results in 2023, which are a product of our commitment to quality, service and innovation in health care,” said Herminio Nieves, chief revenue officer at MCS.
“We’re grateful for the trust placed in us by thousands of individual beneficiaries and our commercial clients, thus reaffirming our unwavering commitment to ensuring our members receive the five-star care each one expects and deserves,” Nieves said.
MCS Classicare’s enrollment growth has been driven by new members, retention of existing MA members, and beneficiaries switching from competing plans, executives said.
The company’s performance in MA places its parent company, MHH Healthcare, 13th in membership nationwide and as the preferred plan for dual-eligible Medicare Platino beneficiaries in Puerto Rico, the company stated.
MCS Classicare’s MA plan is the only Puerto Rico-based plan among 31 MA plans — out of a 545 across the United States — to achieve the highest quality rating of five out of five stars for 2024.
In the commercial segment, MCS Life has seen a significant membership increase, from 222,000 in January 2023 to more than 255,000 at the start of 2024.
“We believe our membership will continue showing an upward trajectory. Our ability to attract and retain customers in the commercial segment is supported by a platform that puts customer service first and offers innovative products,” said Roberto Pando, president of MCS Advantage and MCS Life.
“We’re focused on being a trusted partner for our clients, from large businesses to individual professionals. Now, more than 2,500 companies use MCS as the health plan for their teams,” Pando said.
He noted that achieving the highest MA quality rating and unprecedented market share growth, coupled with significant growth in the commercial segment, positions MCS as a health care market leader in Puerto Rico.
He added that the achievements strengthen the company’s commitment and responsibility to its value proposition focused on quality, service and care for its clients and beneficiaries.
“These extraordinary results reflect a complete focus in the execution of a value proposition that is centered on having the best service, innovative products and the best professionals. Our team works with our providers, partners and clients to put our mission of genuine care and complete health into practice every day,” Pando said.
“This does not happen by chance; we have the best executive team in the industry and the best group of 2,300 professionals supported by a platform with 40 years of experience fully focused on being the best for Puerto Rico,” he concluded.