Better Medicare Alliance Releases Annual State of Medicare Advantage Report for 2024
The report shows the growth, diversity, and affordability of the Medicare Advantage program
WASHINGTON – The Medicare Advantage program continues to grow and become more diverse as the affordable health care choice for the majority of America’s Medicare-eligible seniors, according to the 2024 State of Medicare Advantage report released today by Better Medicare Alliance.
A record 33.8 million seniors and people with disabilities now choose Medicare Advantage, representing nearly 55% of the Medicare population. Meanwhile, 30% of Medicare Advantage beneficiaries are now Black, Latino, or Asian, compared to 18% in Fee-For-Service Medicare.
“As the Medicare choice for a majority of America’s seniors, Medicare Advantage increasingly reflects the diversity of this country,” said Mary Beth Donahue, President and CEO of Better Medicare Alliance. “Seniors choose Medicare Advantage for affordable health care, and protecting this program has never been more important.”
Overall, Medicare Advantage enrollment has doubled over the past decade.
Driving growth in Medicare Advantage is increased access and affordable coverage for beneficiaries. Medicare Advantage access is nearly universal, with 99.7% of Medicare beneficiaries having access to a Medicare Advantage plan.
Meanwhile, Medicare Advantage beneficiaries spend an average of $2,541 less per year on out-of-pockets costs and premiums compared to those enrolled in Fee-For-Service Medicare. The average monthly premium in Medicare Advantage is just $18.50 this year.
“Medicare Advantage continues to grow because seniors value the program as an affordable health care option. Meanwhile, Medicare Advantage is empowering physicians to deliver better, more personalized care for their patients,” said Kevin Spencer, Chief Clinical Officer at agilon health. “By partnering with Medicare Advantage plans, agilon and the value-based community ensure each patient receives the highest quality care, avoids unnecessary medical expenses, and stays healthier, longer.”
Medicare Advantage continues to expand its reach in rural areas, with 40% of eligible beneficiaries in rural counties now enrolled in the program. Enrollment in special needs plans is also on the rise, up 14% since 2023.
“This year’s State of Medicare Advantage report finds that 99% of beneficiaries now have access to key wellness services. This is a critical achievement for the increasingly complex and at-risk populations served by Medicare Advantage,” said Pamela Greenberg, President and CEO of the Association for Behavioral Health and Wellness. “Medicare Advantage is advancing access to care and behavioral health equity for millions of Americans, and it’s essential that policymakers protect and build on this progress.”
When seniors enroll in Medicare Advantage, they receive more comprehensive benefits and care. Ninety-nine percent of beneficiaries have access to a Medicare Advantage plan that includes prescription drug coverage, also known as an MA-PD plan; and 99% of Medicare Advantage plans offer at least one supplemental benefit.
“Medicare Advantage continues to play a critical role in delivering comprehensive and equitable whole-person care to our aging population,” said Bob Blancato, Executive Director of the National Association of Nutrition and Aging Services Programs. “By offering a range of services that blend social care and traditional health care, Medicare Advantage empowers seniors to better manage chronic conditions and embrace healthier, more active lifestyles.”
The comprehensive care model in Medicare Advantage has been shown to drive better health outcomes. Medicare Advantage beneficiaries with certain chronic conditions, including diabetes, hyperlipidemia, and hypertension, have lower rates of inpatient utilization and emergency room visits compared to Fee-for-Service beneficiaries.
Ninety-five percent of Medicare Advantage beneficiaries report being satisfied with the quality of their health care.
“The Arizona Nurses Association recognizes the valuable role that Medicare Advantage plays in increasing options and add-on benefits for seniors and disabled persons at little-to-no cost,” said Wendy Knefelkamp, Chief Executive Officer of the Arizona Nurses Association. “The Better Medicare Alliance report is a trusted resource for healthcare facilities and systems when making decisions that impact diverse populations and the social determinants of health that affect them.”
The full State of Medicare Advantage report for 2024 is available here.
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Better Medicare Alliance is a community of more than one million grassroots beneficiaries and 200+ ally organizations working to improve health care through a strong Medicare Advantage. Learn more at www.bettermedicarealliance.org