Since 2006, Medicare Advantage has grown significantly as a private plan offering an alternative to traditional Medicare. By 2022, according to KFF.org, 39 choices for Medicare Advantage Plans will be available.
What are the current Medicare Advantage enrollment trends? What are the differences? This brief aims to provide information on current Medicare Advantage enrollment trends, including plan types and geographic differences.
Over the past two decades, Medicare Advantage plans have more than doubled among eligible Medicare beneficiaries. There will be 28.4 million Medicare Advantage enrollees by 2022 out of 58.6 million Medicare beneficiaries. Over two-thirds of Medicare Advantage enrollees (66%) are eligible for the program. The total number of people is 18.7 million. This is an increase in enrollment of 1.3 million compared to 2021. Since 2018, individual plans have accounted for approximately the same percentage of Medicare Advantage enrollment.
The number of beneficiaries enrolled in Medicare Advantage increased by 8 percent between 2021 and 2022. Medicare Advantage enrollees are estimated to be two-thirds in individual plans by 2032. Unions and employers offer Medicare Advantage group plans to retirees for about one-fifth of Medicare Advantage enrollees. Depending on the plan, additional benefits, lower costs, and bonus payments may be included.
In 2022, more than 4.6 million Medicare beneficiaries will be enrolled in Special Needs Plans, of which 89 percent are dual-enrolled in Medicare and Medicaid plans (D-SNPs). A further 9 percent will be enrolled in plans to treat people with severe, chronic, or disabling conditions (C-SNPs). Medicare Advantage enrollment varies by state, with at least half of Medicare beneficiaries enrolled in these plans in 25 states.
Puerto Rico has the highest percentage of Medicare Advantage beneficiaries, possibly due to dual enrollment in Medicare and Medicaid. In Florida, 56% of Medicare beneficiaries are enrolled in Medicare Advantage plans, compared to 19% in Monroe County, Key West. In Ohio, 52% of Medicare beneficiaries are enrolled in Medicare Advantage plans.
A Medicare Advantage plan will be available to 60% of Medicare beneficiaries in each county by 2022. Compared to 2010, this is a significant increase. UnitedHealthcare and Humana cover most Medicare Advantage enrollees. Fourteen percent of the plans are BCBS affiliates, including Anthem BCBS plans, and 24 percent are Cigna, CVS Health, Kaiser Permanente, and Centene.
UnitedHealthcare led the way in terms of enrollment growth, followed by Centene, BCBS plans, CVS Health, and Humana. Medicare Advantage plans will cover nearly half of Medicare beneficiaries by 2022, and UnitedHealthcare and Humana will cover 46 percent. Since Medicare Advantage is more prevalent than Original Medicare, it is important to evaluate Medicare’s current payment method for Medicare Advantage.
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