Payers are seeing major Medicare Advantage enrollment, and they want to grow more

Medicare Advantage enrollment saw major growth across the insurance industry in the first quarter of 2022 and over the last year. Now, payers are making plans to increase that growth even further.

Some groups have estimated that Medicare Advantage plans will be the dominant source of Medicare by 2025. 

From Centene expanding its Medicare Advantage plans into three new states since January to UnitedHealthcare pushing to add 800,000 more members by the end of this year, below are the big payers ranked by Medicare Advantage growth year over year and how they're planning to increase membership even more.

Anthem — 24.9 percent

As of March 31, 2022: 1,921,000 members

As of March 31, 2021: 1,538,000 members

Anthem's 1.4 million medical enrollment increase in 2022 was partially driven by growth in Medicare Advantage enrollment.

CVS Health (Aetna) — 10.3 percent increase

As of March 31, 2022: 3,169,000 members

As of March 31, 2021: 2,874,000 members

CVS Health said its overall Medicare business has been a key part of the company's growth over the past few years.

UnitedHealthcare — 8.8 percent increase

As of March 31, 2022: 6,890,000 members

As of March 31, 2021: 6,335,000 members

Medicare Advantage partially led UnitedHealthcare's 1.5 million total enrollment growth since the first quarter of 2021. The company expects to add an additional 800,000 Medicare Advantage members in 2022.

Humana — 5.2 percent increase

As of March 31, 2022: 5,100,400 members

As of March 31, 2021: 4,848,000 members

Humana is trying to significantly expand Medicare Advantage membership growth in 2023 by working with distribution partners and improving retention. Its $3.3 billion revenue growth in the first quarter was partially driven by increased Medicare Advantage membership.

Cigna — 0.9 percent decrease

As of March 31, 2022: 551,000 members

As of March 31, 2021: 556,000 members

Cigna CEO David Cordani said despite falling short in the first quarter, Medicare Advantage is an attractive growth opportunity for the company. The company is building plans and initiatives for 2023 to increase enrollment.

Centene only reported overall Medicare growth and did not specify Medicare Advantage growth. In 2022, the company has expanded its Medicare Advantage plan, WellCare, into three new states and expanded coverage to 327 new counties across existing states.

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