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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 services195 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 boomerswill 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 Trendsin Medicare Advantage
$3.4K
Most Medicare beneficiaries who enroll in Medicare Advantage plans do so as
individuals, but
18%were enrolled throughgroup plans in 2013.
HMOsLocal PPOsRegional PPOsPrivate Fee-For-ServiceMedicare Advantage Enrollees
Learn more about what we’re doingfor Medicare Advantage plans at:
www.veriskhealth.com/MAplans
Source: The Henry J. Kaiser Family Foundation, "Medicare Advantage 2013Spotlight: Enrollment Market Update." Last modified June 01, 2013. Accessed March 17, 2014.http://kaiserfamilyfoundation.files.wordpress.com/2013/06/8448.pdf. © 2014 Verisk Health
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