The number of Americans covered by Medicare Advantage plans — offering everything from home care to hearing aids — has more than doubled over the past decade, according to an analysis by the Kaiser Family Foundation (KFF).
KFF found approximately 26 million (42%) of the nation’s 63 million Medicare beneficiaries have an MA plan, compared to 12 million beneficiaries (25%) in 2011. The average beneficiary has access to 33 MA plans — the largest number of options available in the past decade.
Most enrollees in individual MA plans have access to a wide variety of benefits not covered by traditional Medicare, including home care services, dental exams, eye exams and glasses.
The share of beneficiaries in MA plans varies by state and within states. Puerto Rico had the highest concentration of beneficiaries in MA plans at 80%, followed by Minnesota at 51.8%. Alaska had the smallest number of Medicare beneficiaries in MA plans at 1.1%
Florida had a wide disparity in enrollment in MA plans statewide. Overall, 50.8% of Medicare-eligible Floridans have MA plans, but share by county ranged from a high of 73% in Miami-Dade County to 16% in Monroe County.
The foundation also found 90% of Medicare Advantage enrollees are in plans that provide prescription drug coverage and nearly 63% pay no premiums, other than the monthly Part B premium which averaged $148.50.
The Congressional Budget Office has projected MA plans will cover more than half of all Medicare beneficiaries by 2030.
