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1st Annual Medicare Advantage Enrollment Study & Projection

Medicare Advantage (“MA”) is the private plan alternative to traditional Medicare. MA enrollment has seen significant growth over the past decade, growing from 12 million in 2011 to a little over 27 million currently. The growth in MA can be explained by a variety of factors. With the obvious demographic tailwinds, carriers are expanding into new counties to capture the opportunity.

As a result of increased competition, plan benefits and supplemental benefit offerings are becoming increasingly attractive to beneficiaries especially when compared to the Original Medicare. The purpose of this report is to provide an overview of Medicare Advantage growth broken down by various levels of detail such as state, plan types and parent organization comparing to the overall Medicare population.

Medicare Advantage Historical Growth

MA Enrollment has more than doubled over the past decade reaching 27.1 million beneficiaries in early 2021.

A recent AHIP report cites 94% of beneficiaries who choose MA are satisfied with their plans. MA plans can offer additional benefits and coordination of care. Seniors with health conditions increasingly find the benefits of the care management that Medicare Advantage plans can provide. As Seniors increase in age may, they may find themselves in a Medicare Supplement plan that is increasingly unaffordable and with a limited flexibility to switch to a new Medicare Supplement plan due to health conditions hindering their ability to pass health underwriting. In addition, MA plans are increasingly enticing to consumers.

🔎  View the full report here.