Fewer Medicare Advantage beneficiaries are choosing no-premium plans for 2024, according to eHealth's November snapshot report that tracks MA and Part D plans selected by beneficiaries in the first half of the current annual enrollment period, or Oct. 15 to Nov. 8.
Three key takeaways:
1. Medicare Advantage plans without a premium remain popular, with 83% of beneficiaries choosing plans without one for 2024. Despite that, 84% of beneficiaries chose no-premium MA for 2023 and 88% for 2022.
2. The average premium for Medicare Advantage plans is higher for the second year in a row, standing at $9 for 2024 compared to $7 for 2023 and $4 for 2022.
3. Average premiums for Part D plans remain historically high at $29 for 2024, though down slightly from $31 for 2022.