Medicare Advantage Plans | Growing Market Share

Proexpert24 Jan, 2024Health

Over the past decade, enrollment in Part C has grown significantly, from just 19% of the total Medicare beneficiary population in 2007 to 51% in 2023. The Congressional Budget Office projects that the share of all Medicare beneficiaries enrolled in Medicare Advantage plans will rise to 62% by 2033! Several factors contribute to the popularity of Advantage plans, including: Additional benefits like prescription drugs, vision, and dental, that aren?t part of Original Medicare Low (or ZERO!) premium No underwriting requirements Annual enrollment windows to easily change plans Creative supplemental benefits (fitness, over-the-counter allowance, etc) Heavy marketing by companies and distribution channels