An Assessment of the 2017 Medicare Advantage Market
MCMURRAY, Pa.--(BUSINESS WIRE)--Mark Farrah Associates (MFA), www.markfarrah.com, released an analysis brief presenting a snapshot of the Medicare landscape for 2017. The brief presents an overview of plans that are vying for business during the 2017 Annual Election Period (AEP), which began on October 15th and runs through December 7th. In addition, the assessment discusses the importance of the Medicare Plan Finder (MPF) as an analysis tool that Medicare companies use to finalize sales and marketing strategies. Mark Farrah Associates announced they had released 2017 data in their Medicare Benefits Analyzer™ product to give customers easy access to competitive Medicare Plan Finder data and Star Quality Ratings.
The Managed Medicare market continues to maintain a strong foothold in the industry with more than 18.5 million seniors enrolled in Medicare Advantage (MA) plans. In the last three years, MA plans picked up approximately 3.4 million members and these carriers currently cover 32% of all those eligible for Medicare benefits. Based on an assessment of the 2017 CMS landscape reports, MFA reported that 2,900 distinct MA plan offerings are in the market lineup for the onset of the 2017 AEP. This includes many national health plans, Blue Cross Blue Shield organizations, prominent regional health plans and specialized Medicare companies.
Eighty-eight percent of MA offerings will include Part D coverage and monthly premiums range from $0 to greater than $200. Thirty-nine percent of 2017 MA plans (excluding SNPs), are available at the $0 plan premium level, 25% of all plans will be charging monthly premiums ranging from $2 to $50 and 21% of plan premiums are in the $51 to $100 range. Only 12%, or 283, plans are charging monthly premiums greater than $100 and 3%, or 65, plans are charging monthly premiums greater than $200.
In order to make it easier for Medicare plans to assess Medicare Plan Finder data and Star Quality Ratings, Mark Farrah Associates (MFA) maintains data in a comparative database format in its Medicare Benefits Analyzer™ product. 2017 Plan Finder and Star Quality Ratings data is online now. Visit our website at www.markfarrah.com or call 724-338-4100 for more information.
To read the full text of "An Analysis of 2017 Medicare Business Competition", visit the Analysis Briefs library on Mark Farrah Associates' website.
About Mark Farrah Associates (MFA)
Mark Farrah Associates is a leading business information provider in the health insurance sector. We provide health plan market data and analysis tools for the healthcare industry and our products include Health Coverage Portal™, County Health Coverage™, Health Insurer Insights™, Health Plans USA™, Medicare Business Online™, Medicare Benefits Analyzer™ and SHCE & MLR Annual Data™. To learn more about our products, access the product brochures and preview videos in the Products section of our website at www.markfarrah.com.
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Ann Marie Wolfe, 412-944-2417