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Med Adv Market Competition: 2021

Posted by www.psmbrokerage.com Admin on Mon, Oct 26, 2020 @ 08:53 AM


Med Adv Market Competition: 2021


Medicare Advantage market penetration is strong in 2020,and there’s ample opportunity for growth in this segment with about 40% of the nearly 63 million people eligible for Medicare enrolled in M/A plans.

M/A commands a sizable share of the health care industry, providing coverage to over 25 million beneficiaries. 

In the last three years, these plans collectively increased enrollment by approximately 5.2 million members. 

2021Landscape 2

 

Many M/A plans and stand-alone PDPs continue to broaden supplemental offerings and coverage area for 2021. 

According to CMS reports, Humana is marketing more M/A plans than any other insurer, with 571 distinct plans.

The insurer has expanded its M/A HMO plans into 125 new counties and has PPO plans in 98 new counties, serving about 3 million more M/A beneficiaries in 2021.

2021 Landscape Pic 1


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