The 2022 “Competition in Health Insurance” report, published Nov. 1, found that 34 percent of metropolitan areas have one payer with more than a 50 percent share of the Medicare Advantage market.
Commercial markets were also concentrated, with 48 percent of metropolitan areas having one payer controlling the majority of the market.
In a news release, AMA President Jack Resneck Jr., MD, said high levels of concentration can reduce competitive constraints on payers.
“Unchecked market power among insurers is a formula for higher premiums, lower coverage, and inadequate levels of patient care, concerns of great relevance to Medicare Advantage,” Dr. Resneck said.
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