The announcement comes a month before Medicare open enrollment begins, giving seniors age 65 and older a chance to review and select their health coverage for 2021.
New Jersey’s health care giants are teaming up to sell a Medicare Advantage plan for 2021 to seniors in eight counties in a new model that they say will lead to better health and lower costs.
Horizon Blue Cross Blue Shield of New Jersey and Hackensack Meridian Health said Monday they have formed a joint venture to operate Braven Health. And they are working with RWJBarnabas Health to join the venture, pending regulatory approval.
“Delivering an excellent health care experience while making health care more affordable requires continued innovation in the ways we collaborate and operate,” Luisa Y. Charbonneau, Braven’s chief executive officer, said.
Medicare Advantage plans are operated by private insurers. Unlike traditional Medicare plans that allow consumers to visit any provider, Medicare Advantage plans typically have tighter networks.
But many of the Advantage plans also have lower monthly premiums and other benefits such as dental care, eye care and gym memberships.