How to Find the Best Colorado Medicare Advantage Plans

If you’re looking for the best Medicare Advantage Plan in Colorado, you should choose a plan that offers the benefits and coverages that fit your needs. In this guide, MoneyGeek summarized the top-rated plans in the state based on broad benefits and widespread availability. We found that the Kaiser Permanente Senior Advantage Core and Aetna Medicare Prime 1 are the best HMO and PPO plans in Colorado, respectively.

Advertising & Editorial Disclosure
Last Updated: 9/23/2022
Written By     |  

MoneyGeek used the five-star quality rating system of the Centers for Medicare & Medicaid Services (CMS) to determine the most widely available plans in Colorado with the highest rating. We also broke down the best plans based on type, whether you need drug coverage and whether you want to limit out-of-pocket costs.

However, since these are generalizations, it’s best to shop around to find a plan that’s the best fit for your individual needs.

If you're not looking for a Medicare Advantage plan but want to cover out-of-pocket costs that your base Medicare plan doesn't cover, MoneyGeek also ranked the best Medicare Supplement Plans in Colorado.

iconribbonbestMedicare AdvantageColorado2022

Best Medicare Advantage Plans in Colorado

Best Medicare Advantage Plan in Colorado - Overall

In Colorado, the best Medicare Advantage Plan for you will depend on your individual needs. MoneyGeek’s research shows that the Aetna Medicare Prime 1 plan offered by Aetna Medicare is the best option for individuals looking for a PPO plan with drug coverage, six core benefits and a high star rating from the CMS.

While a PPO plan costs more, it also offers a range of benefits. With this plan, you’ll have access to a wider network of doctors and hospitals. You also won’t need a referral in case you want to see a specialist.

mglogo
MoneyGeek Top Pick
Aetna Medicare

While MoneyGeek found that the Aetna Medicare Prime 1 plan is an outstanding option for people looking for a PPO, the best plan for you might be different depending on your needs.

Here are the details of this plan:

  • No monthly premium
  • Includes drug coverage with no deductible
  • In-network max out-of-pocket limit of $5,300
  • Overall CMS star rating of 4.5 out of 5

The Aetna Medicare Prime 1 plan offers all common benefits including vision, dental, hearing, fitness, worldwide emergency and telehealth. It also scored high on the CMS star rating system and offers Part D drug coverage.

Since it includes worldwide emergency benefits, it’s a good option for travelers.

Best HMO Medicare Advantage Plan in Colorado

MoneyGeek analyzed the best HMO Medicare Advantage Plans in Colorado and found that if you’re looking for an HMO plan with drug coverage, six core benefits and a high star rating from the CMS, the Kaiser Permanente Senior Advantage Core plan offered by Kaiser Permanente is the best option. However, the best plan for you depends on your individual needs.

An HMO plan is the most affordable of all available plan types. However, it does not allow you to seek out-of-network treatment, except in an emergency. With this plan, you need a referral to see a specialist.

mglogo
MoneyGeek Top Pick
Kaiser Permanente

MoneyGeek’s research shows that the Kaiser Permanente Senior Advantage Core plan is the best option for people looking for an HMO in Colorado. That said, the ideal option for you will depend on your specific requirements. With this plan, you can expect the following:

  • No monthly premium
  • Includes drug coverage with no deductible
  • In-network max out-of-pocket limit of $4,200
  • Perfect overall CMS star rating of 5 out of 5

The Kaiser Permanente Senior Advantage Core plan offers all common additional benefits including vision, dental, hearing, fitness, worldwide emergency and telehealth. It also has a high CMS star rating and offers Part D drug coverage.

Best Medicare Advantage Plan in Colorado Without Drug Coverage

MoneyGeek’s research shows that there are many different plans available for individuals who don’t need a plan with Part D prescription drug coverage. We found that for a Medicare Advantage Plan with or without drug coverage, including six core benefits and a high star rating from the CMS, the Kaiser Permanente Senior Advantage Core plan offered by Kaiser Permanente would be the best option.

mglogo
MoneyGeek Top Pick
Kaiser Permanente

Not only is Kaiser Permanente Senior Advantage Core the best option for someone looking for a plan with or without drug coverage, but it was also our top pick for the best overall HMO plan available in Colorado. This plan offers Part D prescription drug coverage, but it’s the best plan even if you don’t need this type of coverage.

Here are the details of the Kaiser Permanente Senior Advantage Core plan:

  • No monthly premium
  • In-network max out-of-pocket limit of $4,200
  • Perfect overall CMS star rating of 5 out of 5

The Kaiser Permanente Senior Advantage Core plan offers all commonly offered benefits like vision, dental, hearing, fitness, worldwide emergency and telehealth. This plan also scored highly on the CMS star rating system.

Best Medicare Advantage Plan in Colorado for Low Max Out-of-Pocket Costs

While there are many Medicare Advantage Plans with low or no premiums, you would have to pay a higher amount out of pocket if you choose such plans. MoneyGeek found that the Aetna Medicare Prime plan offered by Aetna Medicare is the best option for individuals looking for a Medicare Advantage Plan with or without a low in-network max out-of-pocket limit, including drug coverage, six core benefits and a high star rating from the CMS.

mglogo
MoneyGeek Top Pick
Aetna Medicare

By excluding health plans with a high max out-of-pocket limit, MoneyGeek found that the Aetna Medicare Prime plan is the best option for individuals who need a plan with or without drug coverage. Following are the details of this plan:

  • Monthly premium of $47
  • In-network max out-of-pocket limit of $5,000
  • Overall CMS star rating of 4.5 out of 5

Having a plan with a lower out-of-pocket maximum will protect you from paying a high amount in case of excessive medical costs in a year. With Aetna Medicare Prime, you won’t have to pay anything for in-network coverage after you reach the max out-of-pocket limit of $5,000. A PPO plan has a different out-of-pocket maximum for out-of-network coverage. For this plan, it’s $11,300.

Medicare Advantage Plan in Colorado - Statistics

MoneyGeek’s analysis shows that there are nine healthcare organizations offering Medicare Advantage Plans in Colorado. We researched the following statistics on Medicare Advantage in Colorado to help you figure out the rare and common plan components.

1

Colorado Medicare Advantage Plans are a mix of HMO, PPO and PFFS with 82.7% offering drug coverage

Of all the available plans in Colorado — about 37.8% are Health Maintenance Organization plans, 58.7% are Preferred Provider Organization plans and 3.5% are Private Fee-For-Service plans. We found out that 82.7% of the plans offer drug coverage.

2

69% of Medicare Advantage Plans in Colorado have a $0 premium

In Colorado, about 69% of plans charge a $0 premium. The average cost of buying a plan that costs money is $47.50.

3

Vision, hearing and telehealth benefits are common in Colorado, with most plans offering them

MoneyGeek’s research shows that vision, hearing and telehealth benefits are most commonly offered in Colorado. On the other hand, benefits like in-home support, home safety devices and modifications and emergency response devices are pretty hard to find.

Methodology

MoneyGeek collected data from the Centers for Medicare & Medicaid Services 2022 MA Landscape Source Files released in October 2021. Plans in Colorado were filtered down to those that offer drug coverage (unless otherwise noted), offer six of the most common Medicare Advantage coverage benefits and are available to at least 50% of the population of Colorado based on county availability.

About the Author


expert-profile

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.