10 key updates on MA in 2024:
- More than 32 million people are now enrolled in Medicare Advantage plans, which is projected to exceed 34 million by the end of 2024.
- Among MA enrollees, 47% say they are in excellent or very good health, compared to 53% of original Medicare enrollees.
- 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.
- About 38% of MA members have annual incomes of less than $25,000, compared to 23% of original Medicare enrollees.
- Among those enrolled in MA, 54% are people of color.
- Four million people living in rural areas are enrolled in MA.
- The number of plan offerings declined by 10% in 2024 to 3,665.
- 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%.
- 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.
- Accounting for new enrollment, 13 out of 20 of the most popular supplemental benefits will be available to fewer enrollees in 2024.
