Thirty percent of Medicare beneficiaries are enrolled in a Medicare Advantage plan, according to a recent Kaiser Family Foundation report published in JAMA.
Here are five things to know about Medicare Advantage enrollment, from the report.
1. There are 15.7 Medicare beneficiaries enrolled in Medicare Advantage plans this year, compared to only 5.6 million in 2005.
2. Medicare Advantage enrollment is expected to continue to grow over the next decade, with 25 million enrollees by 2024, according to the report.
3. The percentage of Medicare beneficiaries enrolled in Medicare Advantage plans varies greatly across the U.S. Miami is the city with the highest enrollment, with 59 percent of Medicare beneficiaries enrolled in a Medicare Advantage plan.
4. There are three insurers that are dominating the Medicare Advantage market. Twenty percent of Medicare Advantage enrollees have a plan through UnitedHealthcare, making it the clear leader in Medicare Advantage enrollment. Humana and Blue Cross Blue Shield are tied, with each providing plans to 17 percent of those enrolled in Medicare Advantage plans.
5. Medicare has been paying more for those in Medicare Advantage plans than beneficiaries who are not. In 2011, Medicare paid 10 percent more for Medicare Advantage plan members, and in 2013, Medicare Advantage enrollees received 4 percent more, according to the report.
More articles on Medicare Advantage:
The changing healthcare world: 7 trends to watch
5 things to know about physician, clinical services spending growth
10 states with highest Medicare Advantage enrollment in 2014