The 2015 Medicare Advantage Market at a Glance
KENNEBUNK, Maine--(PRNewswire)--Mark Farrah Associates (MFA), www.markfarrah.com, recently released an analysis brief that discusses the 2015 Medicare Advantage market. The report presents the latest Medicare market penetration statistics and offers 2015 product insights from the Medicare landscape reports. In addition, an overview of companies that will be competing for business during the upcoming AEP is included. The overview also provides important information about the Medicare Benefits Analyzer™, a Mark Farrah Associates' database that simplifies analysis of the Medicare Plan Finder for companies competing in this segment.
The Managed Medicare market is strong with more than 23.43 million seniors enrolled in Medicare Advantage (MA) plans and 16.45 million enrolled in stand-alone PDP (prescription drug plans) as of September, 2014. This is an increase of 30% for seniors enrolled in MA plans and 24% for stand-alone PDP enrollment since December 2011. MA plans are looking to convert those currently enrolled in Original Medicare while also attempting to attract MA members from rival plans. The Medicare Plan Finder (MPF) data, released on October 1st, is an important tool that helps plans to analyze competitor copays and cost-sharing in local markets.
Based on an assessment of the 2015 CMS landscape reports, MFA reported that 2,084 distinct Medicare Advantage (MA) plan offerings are in the market lineup for the onset of the 2015 AEP. This includes many national health plans, Blue Cross Blue Shield organizations, prominent regional health plans and specialized Medicare companies. Eighty-six percent of MA offerings will include Part D coverage and monthly premiums range from $0 to $347. Another interesting finding, eighty-three percent of all plans are offering premiums in the $100 or less range.
With the release the 2015 Medicare Plan Finder data, far more detailed information about MA medical costs by plan across an extensive list of medical services becomes available. MFA assembles data in their Medicare Benefits Analyzer™ product to give customers 24/7 access to the 2015 Medicare Plan Finder data and Star Quality Ratings. Visit our website at www.markfarrah.com or call 207.985.8484 for more information.
To read the full text of "Preview of 2015 Medicare Advantage Competition", visit the Analysis Briefs library on Mark Farrah Associates' website www.markfarrah.com.
About Mark Farrah Associates (MFA)
MFA is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. Committed to simplifying analysis of health insurance business, our products include Medicare Business Online™, Medicare Benefits Analyzer™ Health Coverage Portal™, County Health Coverage™, Health Insurer Insights™, and Health Plans USA™.
Mark Farrah Associates
Ann Marie Wolfe, 207-985-8484
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SOURCE Mark Farrah Associates