Saturday, June 17, 2023

Medicare Advantage Market Share in the Southeast

With additional benefits and typically lower costs, Medicare Advantage (MA) Plans can be a great value compared to Original Medicare. Despite employing managed care protocols to control costs, more and more Medicare-eligible seniors are gravitating toward the better value MA plans offer.  In just over six and one-half years, from October 2016 through May 2023, the penetration of MA plans across the U.S. has grown from under 31% of Medicare-eligible Americans to 48%.

The growing popularity of MA plans nationally is mirrored in the twelve-state Southeast region of the U.S., where Medicare Advantage plan enrollment has grown from a 30.7% share of the Medicare-eligible market in October 2016 to more than 50% as of May 2023.  Here is a state-by-state look at how Medicare Advantage market share in the Southeast has grown from October 2016 to May 2023:

Medicare Advantage Market Share in the Southeast

Medicare Advantage Market Share in the Southeast

Medicare Eligible (1) MA Enrollment (1) % MA Market Share
State May-23 Oct-16 May-23 Oct-16 May-23 Oct-16
AL 1,093.2 991.4 623.7 262.2 57.1% 26.5%
AR 664.1 609.0 284.2 125.3 42.8% 20.6%
FL 4,985.0 4,172.8 2,747.6 1715.1 55.1% 41.1%
GA 1,878.0 1,585.9 1,000.1 529.6 53.3% 33.4%
KY 967.0 882.7 494.6 240.1 51.1% 27.2%
LA 921.8 817.7 491.6 257.4 53.3% 31.5%
MS 629.3 574.3 245.6 89.8 39.0% 15.6%
NC 2,151.3 1,829.7 1,131.5 561.9 52.6% 30.7%
SC 1,180.9 977.5 500.2 230.3 42.4% 23.6%
TN 1,439.7 1,269.6 734.6 452.3 51.0% 35.6%
VA 1,629.2 1,404.1 585.1 204.3 35.9% 14.6%
WV 445.6 424.9 210.6 106.4 47.3% 25.0%
Region 17,985.3 15,539.5 9,049.7 4,774.8 50.3% 30.7%
Total(2) 65,390.9 56,888.7 31,362.0 17,489.5 48.0% 30.7%

(1) in thousands; region totals may not equal the sum of individual states due to rounding adjustments
(2) includes U.S. territories