Medicare Advantage Membership Up Nearly 1.4 Million Year-over-year

3/15/2017
by Mark Farrah Associates

Medicare Advantage (MA) business continues to experience significant growth with a surge in the aging Baby Boomer generation increasing demand for MA plans. Despite the uncertainty surrounding health care and proposed budget cuts to the program, Medicare Advantage enrollment continues to climb and this trend is expected to continue throughout 2017 and forward. As of February 1, 2017, total Medicare Advantage membership stood at 19,593,341, with a net gain of 1,389,665 members, year-over-year.

According to data from the Centers for Medicare and Medicaid Services (CMS), 34% of the 58 million people eligible for Medicare are enrolled in MA plans across the United States and U.S. territories. Managed Medicare continues to be an attractive growth market for health insurance companies. This brief assesses company performance in the Medicare Advantage market as of February 2017 and analyzes market share for individually purchased and employer-sponsored benefits as well as evaluates MA plan type preferences.

The top ten carriers covered over 68% of all Medicare Advantage enrollees as of February 1, 2017. UnitedHealth Group and Humana lead the segment with more than 4.6 and 3.3 million MA members, respectively. Aetna and Kaiser Family Foundation also command significant market share with each enrolling over 1.4 million.

Read more here: http://www.markfarrah.com/healthcare-business-strategy/Medicare-Advantage-Membership-Up-Nearly-1.4-Million-Year-over-year.aspx