The analysis, published July 26, compared market share in 2023 for major payers offering both Medicare Advantage plans and stand-alone Part D plans.
Most payers analyzed, aside from Kaiser Permanente, offer both standalone plans and Medicare Advantage policies, according to KFF. CVS Health, Centene and Cigna have greater enrollment in standalone Part D plans than Medicare Advantage options, while UnitedHealthcare and Humana have more Medicare Advantage members than standalone plan members.
Here’s how payers stacked up:
- UnitedHealthcare: 24 percent market share
- CVS Health: 17 percent market share
- Humana: 16 percent market share
- Centene: 11 percent market share
- Blue Cross Blue Shield: 7 percent market share
- Cigna: 6 percent market share
- Kaiser Permanente: 4 percent market share
- Elevance Health: 3 percent market share
- Other carriers: 12 percent market share
At the Becker's 5th Annual Fall Payer Issues Roundtable, taking place November 2–3 in Chicago, payer executives and healthcare leaders will come together to discuss value-based care, regulatory changes, cost management strategies and innovations shaping the future of payer-provider collaboration. Apply for complimentary registration now.