The Kaiser Family Foundation summarized Medicare Advantage 2024 trends and updates in enrollment. Here are the main points:
- Enrollment Growth: In 2024, 32.8 million people are enrolled in Medicare Advantage plans, making up 54% of the eligible Medicare population.
- Plan Availability: The average Medicare beneficiary has access to 43 Medicare Advantage plans, the same as in 2023 but more than double the number in 2018.
- Demographics: Medicare Advantage enrolls a disproportionate share of people of color and an increasing number of dual-eligible beneficiaries.
- Financial Impact: Medicare Advantage plans receive payments from CMS that are 122% of the spending for similar beneficiaries in traditional Medicare, leading to an estimated $83 billion in higher spending in 2024.
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