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Best Medicare Advantage Plans

UnitedHealthcare offers nationwide coverage with happy customers and $0 copays
By
Meredith Mangan
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Full Bio
Meredith Mangan is a senior insurance editor for Investopedia; she was a licensed insurance agent for six years and has been writing and editing insurance content for almost a decade.
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Updated November 28, 2023
Reviewed by
Samantha Silberstein
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Reviewed by Samantha Silberstein
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Samantha (Sam) Silberstein, CFP®, CSLP®, EA, is an experienced financial consultant. She has a demonstrated history of working in both institutional and retail environments, from broker-dealers to RIAs. She is a current CFA level 3 candidate and also has her FINRA Series 7 and 63 licenses. Throughout her career, Samantha has used her expertise and various licenses and certifications to provide in-depth advice about household and business-specific financial planning, investing, credit cards, debt, student loans, taxes, retirement, and income strategies.
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Fact checked by
Matthew M Klammer
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Fact checked by Matthew M Klammer
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With practical experience running his own IT business and an education in the liberal arts, Matthew Klammer had become well-accustomed to the difficulties of research. From providing POS systems to small tourist shops to data security and account management Matthew has provided business solutions to many individuals.
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UnitedHealthcare has the best Medicare Advantage (MA) plans overall, according to Investopedia research. The company offers the largest provider network nationwide and has an excellent rating from the National Committee for Quality Assurance (NCQA), an independent organization that measures health plan quality and patient satisfaction.

Medicare Advantage plans replace Original Medicare (Part A and B, and often D). Benefits extend beyond Original Medicare, including an annual out-of-pocket expense limit and dental, vision, and hearing coverage. In exchange (and unlike Original Medicare), you generally must use in-network providers and services. 

Commercial insurance companies administer MA plans. Costs and benefits differ, so shopping around and comparing plans is essential. 

To choose the best Medicare Advantage companies, we evaluated nine major health insurance companies for 22 criteria that fall into categories including plan and care quality, cost, Medicare drug gap coverage, and state availability. 

Best Medicare Advantage Plans

Best Overall : AARP/UnitedHealthcare

Investopedia's Rating
4.7
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United Healthcare
Pros & Cons
Pros
  • Available in most states and Washington D.C.
  • Largest provider network nationwide
  • Offers additional drug coverage in the gap
  • Free home visits
  • $0 copays for primary care provider (PCP), specialist, and lab charges
Cons
  • Below-average J.D. Power score in some regions
Why We Chose It
AARP's UHC plans are our pick for the best overall Medicare Advantage plans. These plans feature high Medicare star ratings, the largest provider network of all MA plan providers, and a broad array of options.
Overview
UnitedHealthcare (UHC) is the largest provider of Medicare Advantage plans. UnitedHealthcare’s MA plans—co-branded with AARP—earn high marks for plan quality and member experience.  On average, UHC Medicare Advantage plans with drug coverage have a 3.94 Medicare star rating, which is on par with the national average of 3.94.  The National Committee for Quality Assurance (NCQA) gives UHC MA plans a 3.8-star average rating, putting it about third in the list of companies we evaluated. Both NCQA and Medicare score on a five-star scale.

While UnitedHealthcare scored well in the J.D. Power 2023 Medicare Advantage Study for Florida and Texas, it scored below average in California, Pennsylvania, and New York. 

The company offers a range of plan types, including HMO, PPO, and PFFS (private-fee-for-service) plans. Coverage is available for: 

  • Vision, hearing, and dental care
  • Non-emergency transportation for Medicare-Medicaid recipients
  • Worldwide emergencies
  • No-cost in-home care visits

Most plans offer additional drug coverage during the Medicare donut hole, which can save money if your drugs cost more than $5,030 in 2024. 

UHC outperforms its peers in key metrics, but the average out-of-pocket expense is $5,579 in 2024. This amount is higher than some competitors’ but lower than the average across major insurers.

Read more in our UnitedHealthcare Medicare review.

Note

UnitedHealthcare Group is being sued for allegedly using a flawed artificial intelligence algorithm that denies rehabilitation care for Medicare Advantage patients, despite knowing that the algorithm has a 90% error rate.

Lowest Cost : Cigna

Investopedia's Rating
4.0
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Cigna
Pros & Cons
Pros
  • Lowest overall-cost plans compared to the largest providers
  • Lowest average premium compared to the largest providers
Cons
  • No PFFS plans
  • Limited drug coverage in the Medicare coverage gap
Why We Chose It
Cigna Medicare Advantage plans are the cheapest nationwide of all major insurers offering Medicare Advantage plans.
Overview
Cigna has the lowest-cost Medicare Advantage plans when considering premiums, deductibles, and maximum out-of-pocket costs across all plans.  In particular, Cigna has the lowest average premium at $6.81 per month and the second-lowest average drug deductible at $23.96 (Kaiser has the lowest).  However, Cigna’s plans are only available in 26 states. And the provider’s average Medicare star rating is 3.66, below the national average of 3.94. 

Learn more in our Cigna Medicare review.

Great for Nationwide Coverage : Humana

Investopedia's Rating
4.1
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Humana
Pros & Cons
Pros
  • Available in 49 states
  • Benefits for over-the-counter drugs
  • Wide plan type range available
  • Good Medicare star rating
Cons
  • Not available in Alaska
  • Pharmacy network may be limited in some areas
Why We Chose It
Humana is the second-largest Medicare Advantage provider in the country and is available in most states.
Overview
Humana is the second-largest provider of Medicare Advantage plans nationwide, with plans in 49 states. Alaska is the sole exception. Depending on where you live, HMO, PPO, and PFFS plans may be available.  But only about half of Humana’s Medicare Advantage plans with drug coverage offer additional coverage in the coverage gap. If your prescription drug costs add up to more than $5,030 in 2024, you could be on the hook for 25% of their cost in the coverage gap.  Humana has a limited number of preferred cost-share pharmacies in urban areas of 25 states and suburban areas of 14 states. These are key to saving money on medications. Since access to cost-share pharmacies varies quite a bit, ensure there’s one convenient to you before signing up.  

Read more in our Humana Medicare review.

Best for Additional Drug Coverage in the Gap : Aetna

Investopedia's Rating
4.5
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Aetna
Pros & Cons
Pros
  • Offers additional drug coverage in the gap
  • Well-priced plans
  • Home health visits with all MA plans
  • $0 PCP and specialist copays
Cons
  • MA plans unavailable in Alaska, Hawaii, Montana, and Vermont
  • No private-fee-for-service MA plans
Why We Chose It
Aetna offers more MA plans across the U.S. that provide additional drug coverage in the Medicare donut hole than any of the other largest MA plan providers, making it an excellent choice if you spend a lot on prescription drugs.
Overview
Aetna has more MA plans that offer additional drug coverage in the Medicare gap phase than any other major provider. Some Aetna plans have $0 copays for generic drugs in the gap.

This is important because once you and your plan spend $5,030 on drugs in 2024, you’ll pay up to 25% on brand-name drugs and generics. Then, after you spend $8,000 out of pocket on drugs, you leave the donut hole. 

Aetna came in second in our evaluation of nationwide costs for MA plans, which looks at average premiums, drug deductibles, and out-of-pocket expenses.  But if you live in Alaska, Hawaii, Montana, or Vermont, or want a PFFS plan (private-fee-for-service), you'll need to consider another Medicare Advantage provider.

Read more in our Aetna Medicare review.

Best for Patient Quality and Customer Satisfaction : Kaiser Permanente

Investopedia's Rating
4.0
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Kaiser Permanente
Pros & Cons
Pros
  • Highest average NCQA rating of the major providers
  • Highest Medicare star rating of the major providers
  • Lowest deductibles, on average, compared to all other major providers
Cons
  • Only available in 8 states and D.C.
  • Only offers HMO plans
Why We Chose It
Kaiser Permanente stands out for its excellent plan quality and customer satisfaction. It has the highest star ratings from Medicare the NCQA of the providers we reviewed.
Overview
Kaiser Permanente isn’t available in many states, but where it is, third parties rate it highly. Kaiser’s average Medicare star rating, which measures plan quality, is 4.77 out of 5. Its NCQA rating, which reflects quality and customer satisfaction, is 4.5 out of 5 stars, making Kaiser Permanente the highest-rated company we reviewed in both of those categories.  Not only that, but compared to the other largest players, Kaiser Permanente’s drug deductibles are the lowest nationwide—only $3, on average.  The company keeps member costs low because it only offers HMO plans for Medicare coverage. You’ll need to stay strictly in-network. You must reside in California, Colorado, Georgia, Hawaii, Maryland, Oregon, Virginia, Washington state, or the District of Columbia to be eligible for coverage.

Read more in our Kaiser Permanente Medicare review.

Bottom Line

To choose the best Medicare Advantage company, consider what you need from a plan. Are you comfortable with an HMO, or do you require additional flexibility? For instance, if you want a PFFS plan, there are a few providers to consider, including UnitedHealthcare and Humana. 

If cost is your primary concern, consider Cigna. But beware that its Medicare star rating is below average. Or would you rather pay more monthly for a higher level of quality and customer satisfaction? Check out UHC's AARP plans, Aetna, and Kaiser, if it’s available in your area.  Do you want a plan with drug coverage? If so, how much do you expect to spend on prescription drugs, and which specific drugs do you use? lets you input the drugs you use when comparing plans to see which provides the best coverage. You can also see which specific plans offer additional coverage in the Medicare donut hole. Individual Medicare Advantage plans have their own Medicare star ratings—we looked at national company averages. So, even if you choose a top-ranked company like UnitedHealthcare, ensure the specific MA plan you’re interested in has a rating you’re comfortable with. That information is also available in the plan finder tool.

Frequently Asked Questions

  • What Is the Medicare Donut Hole or Coverage Gap?

    The Medicare coverage gap or "donut hole" refers to a period when there is a limit on prescription drug coverage. It begins once the Medicare Advantage plan member spends $5,030 on covered drugs. During this time, Medicare asks members to be responsible for up to 25% of drug costs. But some plans offer additional coverage in the gap, such as $0 copays on preferred brand name drugs and generics. In 2024, the gap ends once the member spends $8,000 on covered drugs.

  • What Is the Highest-Rated Medicare Advantage Plan?

    Kaiser Permanente’s 2023 Medicare Advantage plans receive 5 stars from the Centers for Medicare and Medicaid Services (CMS) in California, Colorado, Georgia, Hawaii, and Mid-Atlantic states (Maryland, Virginia, and Washington, D.C.). The CMS ranks Medicare Advantage and prescription drug plans from 1 to 5 stars, with 5 stars being the highest or best rating. A plan’s star rating reflects its performance based on enrolled people’s experiences.

  • What Is the Biggest Disadvantage of Medicare Advantage?

    A primary Medicare Advantage plan drawback is that these plans typically require you to use dedicated networks, such as an HMO or PPO. As a result, geographic coverage and provider choice is limited. Original Medicare doesn’t restrict you to a network; you can choose any provider accepting Medicare.

  • Can I Drop My Medicare Advantage Plan and Go Back to Original Medicare?

    Yes, you can switch back to Original Medicare during the annual Medicare Open Enrollment period from October 15 to December 7. Your Original Medicare coverage will go into effect on January 1. Or, you can switch during Medicare Advantage Open Enrollment from January 1 to March 31. Your new coverage becomes effective on the first day of the month after joining the plan.

How We Chose the Best Medicare Advantage Providers

To identify which Medicare insurance companies to review, we analyzed business and market insight databases including Statistia, Plunkett, and Gale. We also considered user-generated data from Google to determine public interest and trends in Medicare plans.

We collected data from third-party rating agencies like the credit rating agency AM Best and the National Committee for Quality Assurance (NCQA), an independent organization that rates health insurance plans on quality and customer satisfaction. We also gathered data from government websites and databases provided by the Centers for Medicare and Medicaid Services (CMS) such as CMS.gov and HealthCare.gov, and directly from companies via websites, media contacts, and existing partnerships. The data collection process spanned Sept. 15 to Sept. 29, 2023.

We then developed a quantitative model that scores each Medicare Advantage provider based on four major categories and 22 criteria that are crucial in evaluating the company's offerings and benefits. We weighted the four categories as follows for this article:
  • Plan features: 35%
  • Plan quality and customer satisfaction: 30%
  • Cost: 20%
  • Availability: 15%

Read our full methodology for reviewing Medicare insurance providers.

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Research and analysis by Shanker Narayan
Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
  1. J.D. Power. “.”
  2. U.S. Centers for Medicare & Medicaid Services. “.”
  3. United States District Court, District of Minnesota. "." Page 1.
  4. Kaiser Permanente. ""
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