Monday, June 19, 2023

Medicare Advantage Market Share in the Southwest

Thanks to broader benefits and usually lower costs than Original Medicare coverage, Medicare Advantage (MA) Plans have much to offer budget-minded Medicare-eligible individuals. Despite utilizing managed care protocols to control costs, MA plans have been attracting growing numbers of Medicare-eligible seniors away from traditional Medicare coverage.  In a bit more than six and one-half years, from October 2016 through May 2023, the market share of MA plans across the U.S. has grown from under 31% of Medicare-eligible Americans to 48%.

The growing popularity of Medicare Advantage plans nationally is reflected in the four-state Southwest region of the U.S., where MA plan enrollment has grown from a 31.1% share of the Medicare-eligible market in October 2016 to 49.5% as of May 2023.  Here is a state-by-state look at how Medicare Advantage market share in the Southwest has expanded from October 2016 to May 2023:

Medicare Advantage Market Share in the Southwest

Medicare Advantage Market Share in the Southwest

Medicare Eligible (1) MA Enrollment (1) % MA Market Share
Area May-23 Oct-16 May-23 Oct-16 May-23 Oct-16
AZ 1,445.5 1,186.6 714.5 450.6 49.4% 38.0%
NM 451.7 386.3 218.7 124.8 48.4% 32.3%
OK 782.5 698.8 297.2 119.0 38.0% 17.0%
TX 4,582.1 3,778.6 2,365.2 1,185.4 51.6% 31.4%
Region 7,261.9 6,050.2 3,595.5 1,879.8 49.5% 31.1%
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