The Medicare Advantage landscape in 2024: 10 updates

More seniors and dual-eligible individuals continue to enroll in Medicare Advantage plans, but the number of plans available decreased in 2024, according to an AHIP report published Jan. 9.

10 key updates on MA in 2024:

  1. More than 32 million people are now enrolled in Medicare Advantage plans, which is projected to exceed 34 million by the end of 2024.

  2. Among MA enrollees, 47% say they are in excellent or very good health, compared to 53% of original Medicare enrollees.

  3. More than half of all people dually eligible for Medicaid benefits are enrolled in MA, including more than 70% of those eligible for partial Medicaid benefits.

  4. About 38% of MA members have annual incomes of less than $25,000, compared to 23% of original Medicare enrollees.

  5. Among those enrolled in MA, 54% are people of color.

  6. Four million people living in rural areas are enrolled in MA.

  7. The number of plan offerings declined by 10% in 2024 to 3,665.

  8. MA premiums will increase by an average of 5.1% in 2024, or $1.08. The number of plans offering $0 premiums declined by 13%.

  9. MA deductibles are increasing by 12.5% on average in 2024. The average D-SNP deductible is increasing by $47.04, though Medicaid programs pay on their behalf.

  10. Accounting for new enrollment, 13 out of 20 of the most popular supplemental benefits will be available to fewer enrollees in 2024.

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Top 40 articles from the past 6 months