Medicare Stand-Alone PDP Membership Up 1.6% According to Mark Farrah Associates
MCMURRAY, Pa.--(BUSINESS WIRE)--Mark Farrah Associates (MFA), www.markfarrah.com, aggregated and analyzed year-over-year enrollment data for all stand-alone prescription drug plans (PDPs) nationwide in the latest Healthcare Business Strategy report. Stand-alone PDPs enrolled 25.5 million people as of March 1, 2018, an aggregate increase of 1.6%, or approximately 400,000 net enrollees, from March 1, 2017. Enrollment from employer group plans was approximately 4.5 million, an increase of approximately 84,000 members year-over-year, while enrollment in products sold to individuals increased by over 307,000 to 20.6 million.
As of March 1, 2018, CVS Caremark, UnitedHealth and Humana maintained a leading position amongst the top five companies that control 83% of the PDP market. With 6.1 million members, CVS Caremark experienced the most sizeable growth amongst the top five PDP carriers with a year-over year increase of 596,000 members, or a 10.8% gain. Aetna and UnitedHealth also had enrollment increases with 89,000 and 29,000 new members, respectively. Stand-alone PDP enrollment increased in most states as of March 1, 2018. California, with over 2.2 million PDP members, experienced the most sizeable increase with 71,000 more enrollees from the prior year.
For the purpose of this analysis, it’s important to note that MFA did not include the 18.3 million members currently receiving prescription drug coverage through their Medicare Advantage plan. To read the full text of “Medicare PDP Membership up 400,000 Year-over-year", visit the Analysis Briefs library on Mark Farrah Associates' website.
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™, and Health Plans USA™.
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