Medicare Advantage enrollment doubles
By HME News Staff
Updated 2:09 PM CDT, Thu September 1, 2022
YARMOUTH, Maine – Medicare Advantage enrollment as a share of the eligible Medicare population has more than doubled from 2007 to 2022 (19% to 48%), according to a new analysis by the Kaiser Family Foundation.
Between 2021 and 2022, total enrollment grew by about 2.2 million beneficiaries, or 8%, a slightly slower growth rate than the prior year (10%).
The average Medicare beneficiary in 2022 has access to 39 Medicare Advantage plans, the largest number of options available in more than a decade. However, enrollment is concentrated among a small number of insurers, with UnitedHealthcare and Humana together accounting for 46% of all enrollees nationwide. In nearly one-third of counties (29%; or 945 counties), these two firms account for at least 75% of enrollment.
BlueCrossBlueShield affiliates (including Anthem BCBS plans) account for 14% of enrollment, and four firms (CVS Health, Kaiser Permanente, Centene, and Cigna) account for another 24% of enrollment in 2022.
UnitedHealthcare has had the largest share of enrollment and largest growth since 2010, increasing from 20% to 28% in 2022. Humana has also had a high share of enrollment, though its share has grown more slowly, from 16% in 2010 to 18% in 2022.
The Congressional Budget Office projects that the share of all Medicare beneficiaries enrolled in Medicare Advantage plans will rise to 61% by 2032.
Comments