America's Benefit Specialist October 2022

MEDICARE ADVANTAGE IS CLOSE TO BECOMING THE PREDOMINANT WAY THAT MEDICARE BENEFICIARIES GET THEIR COVERAGE AND CARE MEDICARE MATTERS

care beneficiaries are enrolled and how enrollment varies across geographic areas. Among other key findings: • Enrollment in private plans is highly concentrated among a small number of firms, with UnitedHealthcare and Huma na together accounting for 46% of all Medicare Advantage enrollees nation wide. In nearly a third of counties across the U.S., these two firms account for at least 75% of MA enrollment. • In 2022, nearly seven in 10 MA enroll ees (69%) are in plans with prescription drug coverage (MA-PDs) that require no premium other than the Medicare Part B premium ($170.10 in 2022). • Nearly all enrollees in individual MA plans open for general enrollment have access to some benefits not covered by traditional Medicare, including eye exams and/or glasses (99%), hearing exams and/ or aids (98%) and a fitness benefit (98%).

As Medicare Advantage continues to grow, a gradual but significant reshaping of the Medicare program is taking place. A new Kaiser Family Foundation analysis finds that nearly half of eligible Medicare benefi ciaries—28.4 million out of 58.6 million— are now enrolled in Medicare Advantage plans. That represents a more than doubling of the share of the eligible Medicare popu lation enrolled in such plans from 2007 to 2022 (19% to 48%). Enrollment is projected to cross the 50% threshold as soon as next year, making Medicare Advantage the predominant way that Medicare beneficia ries with Parts A and B get their coverage and care. The rise of Medicare Advantage signals the transformation of Medicare to a pro gram in which a majority of people receive benefits by enrolling in plans offered by private health insurance companies. The new analysis provides the latest data on Medicare Advantage enrollment, including the types of plans in which Medi

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