Sunday, April 3, 2022

The Far West's Medicare Advantage Enrollment Growth by State

Featuring typically lower premium costs and enhanced benefits, Medicare Advantage (MA) plans are widely viewed by consumers as a better value compared to Original Medicare.  Even with managed care protocols and more restrictive provider choices, MA plans have been steadily pulling Medicare eligible seniors away from Original Medicare.  As of December 2021, Medicare Advantage enrollment topped 27.3 million Americans, an increase of more than 55% from December 2016 enrollment levels.  By comparison, in the same five-year timespan the total Medicare eligible population was up only about 11%.

The popularity of Medicare Advantage plans across the U.S. is mirrored in the six-state Far Western region of the country. In the last five years MA plan enrollment in the Far West grew at an average rate of nearly 6% per year, about 2.5 times the rate of growth in the region's Medicare eligible population during this period.  Further examination of Medicare enrollment data shows us the following about the Far West's Medicare Advantage enrollment growth by state from December 2016 to December 2021:

The Far West's Medicare Advantage Enrollment Growth by State
The Far West's Medicare Advantage Enrollment Growth by State

Medicare Eligible * MA Enrollment * Annual % Growth
State Dec-21 Dec-16 Dec-21 Dec-16 Eligible MedAdv
AK 103.6 87.7 1.7 0.4 3.4% 33.0%
CA 6,545.6 5,892.6 2,983.7 2,301.1 2.1% 5.3%
HI 289.9 254.8 145.3 115.7 2.6% 4.7%
NV 563.4 479.2 248.9 162.1 3.3% 9.0%
OR 905.3 795.2 446.5 348.6 2.6% 5.1%
WA 1,439.4 1,253.3 575.6 376.5 2.8% 8.9%
Region 9,847.2 8,762.7 4,401.6 3,304.3 2.4% 5.9%
U.S.** 63,710.0 57,388.1 27,294.4 17,562.2 2.1% 9.2%

* Medicare Eligible and MA Enrollment numbers in thousands, as of December 2021 and December 2016
** U.S. totals include territories
Numbers may not total due to rounding

Source: Medicare Monthly Enrollment by State Reports

No comments:

Post a Comment

Let us know what you think about today's commentary!