Growth Trends in Medicare Advantage

791 views
679 views

Published on

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.

Published in: Health & Medicine
0 Comments
2 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
791
On SlideShare
0
From Embeds
0
Number of Embeds
267
Actions
Shares
0
Downloads
3
Comments
0
Likes
2
Embeds 0
No embeds

No notes for slide

Growth Trends in Medicare Advantage

  1. 1. Monday Tuesday Wednesday Thursday Friday Saturday Sunday There are more than 77 million baby boomers in the United States and by 2030, this demographic (individuals born between 1946 and 1964) will represent an estimated 20% of the population. *US Census Bureau In 2014, more than 16 million Medicare beneficiaries (30% of the Medicare population) were enrolled in Medicare Advantage plans. Federal payments to Medicare Advantage plans were gradually reduced by the Affordable Care Act of 2010 (ACA) with the goal of creating greater parity in payments between the traditional Medicare program and Medicare Advantage by 2017. Despite concerns that payment changes would lead to reductions in enrollment, enrollment has increased by 30 percent since 2010. Beneficiaries will be able to choose from 18 Medicare Advantage plans, on average, in 2015, the same number of plans as in 2014. 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 14 years. 16 MillionMedicare Beneficiaries in Medicare Advantage Plans Available plans have decreased from a high of 48since 2009 30% Increase Growth Trends In Medicare Advantage $3.4K In total, over 600Medicare Advantage plans were available nationwide for individual enrollment in 2015. The following is a breakdown by plan type: Learn more about what we’re doing for Medicare Advantage Plans at: www.veriskhealth.com/MAplans Updated 2015 Source: The Henry J. Kaiser Family Foundation, “Medicare Advantage 2015 Data Spotlight: Overview of Plan Changes.” Accessed October 1, 2015. http://kff.org/medicare/issue-brief/medicare-advan- tage-2015-data-spotlight-overview-of-plan-changes/ *Based on 2015 CMS enrollment data © 2015 Verisk Health Type HMO 385 10,957,149 Local PPO 126 4,135,255 Regional PPO 12 1,250,451 Private Fee for Service (PFFS) 10 255,090 Medicare-Medicaid Demo 69 397,165 Other 0 0 Total 602* 16,995,100* Plans Enrollment

×