Wednesday, June 7, 2023

Medicare Advantage Market Share in the Great Lakes Region

With additional benefits and typically lower monthly premium costs, Medicare Advantage (MA) Plans can be a great value compared to Original Medicare. Despite employing managed care cost-containment protocols that some consumers dislike, more and more Medicare-eligible seniors are shifting to the better value MA plans offer.  In just over six-and-one-half years, from October 2016 through May 2023, the market share of MA plans in the U.S. has grown from under 31% of Medicare-eligible Americans to 48%.

The growing national popularity of MA plans is also found in the five-state Great Lakes region of the U.S., where MA plan enrollment has grown from a 28.9% share of the Medicare-eligible market in October 2016 to over 48% as of May 2023.  Here is a state-by-state look at how Medicare Advantage market share in the Great Lakes region has expanded from October 2016 to May 2023:

Medicare Advantage Market Share in the Great Lakes Region

Medicare Advantage Market Share in the Great Lakes Region

Medicare Eligible (1) MA Enrollment (1) % MA Market Share
Area May-23 Oct-16 May-23 Oct-16 May-23 Oct-16
IL 2,345.0 2,122.0 856.3 412.5 36.5% 19.4%
IN 1,335.1 1,182.1 628.6 295.3 47.1% 25.0%
MI 2,187.2 1,950.1 1,243.0 638.0 56.8% 32.7%
OH 2,465.5 2,211.7 1,264.4 754.1 51.3% 34.1%
WI 1,271.3 1,087.4 655.6 369.4 51.6% 34.0%
Region 9,604.2 8,553.3 4,647.9 2,469.4 48.4% 28.9%
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