The annual report released Sept. 28 is a compilation of the latest MA research and data that provides insight into the program’s demographics, enrollment trends, benefits and health outcomes.
12 key takeaways:
- Medicare Advantage total enrollment is expected to be 33.8 million in 2024, representing more than half of the Medicare population. In 2023, total MA enrollees is over 31 million.
- There are 3,998 MA plans being offered in 2023, a six percent increase from 2022. The average beneficiary has access to 43 plans this year, and 99.7 percent have access to at least one.
- 59 percent of MA members are enrolled in an HMO plan and 39 percent in a local PPO.
- 95 percent of MA members are satisfied with their healthcare quality.
- 27 percent of MA enrollees identify as Black, Latino or Asian, compared to 17 percent of Medicare members.
- 52 percent of MA members have annual incomes of less than $25,000, compared to 36 percent with Medicare.
- 53 percent of MA enrollees live in a metropolitan area and 44 percent live in a micropolitan area.
- Special needs plans account for 19 percent of total MA enrollment, which is 5.4 million individuals in 2023.
- MA members spend $2,434 less on out-of-pocket costs and premiums compared to Medicare members.
- Standing at a 16-year low, the average MA monthly premium is $18.
- MA plans offer prescription drug coverage 92 percent of the time, and 99.9 percent offer supplemental benefits.
- Among all MA plans, 99 percent offer vision coverage and 97 percent offer dental and hearing coverage.
