Growth Trends in Medicare Advantage
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Growth Trends in Medicare Advantage

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To stay competitive in an ever-changing market, risk-adjusted plans need to ensure they have the right solutions in place, with the right partner supporting them to secure appropriate and compliant ...

To stay competitive in an ever-changing market, risk-adjusted plans need to ensure they have the right solutions in place, with the right partner supporting them to secure appropriate and compliant revenue.

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Growth Trends in Medicare Advantage Growth Trends in Medicare Advantage Infographic Transcript

  • Monday Tuesday Wednesday Thursday Friday Saturday Sunday There are more than 77 million baby boomers in the United States and by 2030, this demographic (individulas born between 1946 and 1964) will represent an estimated 20% of the population. *U.S. Census Bureau In 2013, 14.4 million Medicare beneficiaries (28% of the Medicare population) were enrolled in Medicare Advantage plans, an increase of more than 1 million (9.7%) from 2012. Despite concerns that payment changes enacted in the Affordable Care Act of 2010 (ACA) would lead to reductions in enrollment, enrollment has increased by 30 percent since 2010. Growth in enrollment has occurred despite the fact that the average number of plans available to enrollees nationwide declined from a high of 48 plans in 2009 to 20 plans in 2012 and 2013. 65% of Medicare Advantage enrollees are in HMOs; 22% are enrolled in local PPOs; 7% are enrolled in regional PPOs; and 4% are enrolled in private fee-for-service (PFFS) plans. Verisk Health services 195 CMS Medicare Advantage contracts. All Medicare Advantage plans have a limit on out-of-pocket spending, and nearly half of all Medicare Advantage enrollees are in a plan with a limit at or below $3,400 per year. More than 10,000 baby boomers will turn 65 every day for the next 19 years. 14.4 MillionMedicare Beneficiaries in Medicare Advantage Plans Available plans have decreased from a high of 30% Increase Growth Trends in Medicare Advantage $3.4K Most Medicare beneficiaries who enroll in Medicare Advantage plans do so as individuals, but 18% were enrolled through group plans in 2013. HMOs Local PPOs Regional PPOs Private Fee-For-Service Medicare Advantage Enrollees Learn more about what we’re doing for Medicare Advantage plans at: www.veriskhealth.com/MAplans Source: The Henry J. Kaiser Family Foundation, "Medicare Advantage 2013 Spotlight: Enrollment Market Update." Last modified June 01, 2013. Accessed March 17, 2014. http://kaiserfamilyfoundation.files.wordpress.com/2013/06/8448.pdf. © 2014 Verisk Health since 2009.48