This just out from the Kaiser Family Foundation. Their 2017 Medicare Advantage update highlights the growth in the Medicare Advantage program.
On June 6th, 2017, the Kaiser Family Foundation came out with their 2017 report on Medicare Advantage enrollment details and statistics. A couple of key takeaways are Medicare advantage is still growing in both numbers and share of the market. More than 33% of all Medicare Beneficiaries have chosen to get their coverage through the Medicare Advantage program. That is over 19 million members now enrolled in the Medicare Advantage program as compared to roughly 12 million members choosing a Medicare supplement plan to cover the gaps in original Medicare.
Medicare Advantage and retiree plans
Group plans are a surprisingly large contributor to Medicare advantage growth with 19% of the market. Group MA membership has more than doubled since 2008 growing from 1.7 mil members to over 3.7 mil members in 2017. 5 states have over 40% of their MA enrollees in Group plans. (AK, WV, MI, IL and KY) Some employers and unions are ending retiree group coverage and enrolling their members into a group Medicare Advantage plan to help control runaway retiree health coverage costs.
Another interesting statistic is the number of dual eligibles enrolled into Medicare Advantage plans. Over 10% of all Medicare Advantage beneficiaries are enrolled in D-SNP plans with Arizona and Hawaii having the largest market penetration at 42% and 53% respectively. Third place is Florida with 32% and fourth place belongs to Tennessee with 31% of duals enrolled into D-SNP plans.
Not surprising, United Healthcare (24%) and Humana (17%) account for 41% of all Medicare Advantage enrollment with Blue Cross close behind (13%). If you include Anthem plans their market share is 16%. More than 54% of all Medicare Advantage enrollees are enrolled in the top 3 plans nationwide. Kaiser Permanante (8%), Aetna (7%), Cigna 2%) and WellCare (2%) round out the rest of the top 8 plans. All other plans combined together contribute the remaining 22% of enrollees.
More detailed information is available on the Kaiser Family Foundation 2017 Medicare Advantage Update by clicking here.
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