Insurance Technology Industry News

TMCNet:  Medicare Advantage Enrollment Tops 14.5 Million

[February 27, 2013]

Medicare Advantage Enrollment Tops 14.5 Million

KENNEBUNK, Maine --(Business Wire)--

Aggregated enrollment in Medicare Advantage (MA) plans increased by 1.260 million members between February 2012 and February 2013, according to a new report by Mark Farrah Associates (MFA (News - Alert)). Nearly 14.6 million people were enrolled in Medicare Advantage plans as of February 2013, 28.5% of the 51.1 million people eligible for Medicare, according to the Centers for Medicare and Medicaid Services (CMS).

Carriers with more than 250,000 members cover more than 63.4% of all Medicare Advantage enrollees and added 876,500 new members, year-over-year. Mark Farrah Associates found that UnitedHealthcare remained the top MA organization in the country as of February 2013, with a gain of 374,000 new MA members. UnitedHealth increased its market share from 15.3% in February 2012 to 20.8% in February 2013. Humana gained 162,000 new members, a significant increase but lower than the 290,000 members it gained between Febuary 2011 and February 2012. Enrollment in Medicare Advantage plans is primarily through two sources: direct purchase by individuals or from a retiree plan offered by an employer. MFA found roughly 18% of MA enrollees are in employer group health plans (EGHP's). Kaiser Foundation Health Plans has the largest MA enrollment from group plans, with nearly 462,000 members.

The 2013 annual enrollment period appears to have been a success for many plans, primarily due to the large number of seniors aging into the Medicare program. To read the full text of "Medicare Advantage Enrollment Tops 14.5 Million," visit the Analysis Briefs library on Mark Farrah Associates' website www.markfarrah.com.

About Mark Farrah Associates (MFA)

Many companies are evaluating how their 2013 results compared to expectations and to the local competition by using tools such as MFA's Medicare Business Online™ and Health Coverage Portal™. Using MFA's Medicare Benefits Analyzer (MBA), they are comparing and revising 2013 benefit packages and developing strategies to offer 2014 products that will attract and benefit seniors. MFA is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. Committed to simplifying analysis of health insurance business, our products include Health Coverage Portal™, County Health Coverage™, Health Insurer Insights™, Medicare Business Online™, Medicare Benefits Analyzer™ and Health Plans USA™.


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