January 19, 2023 (Revised 1/25/23)
The Medicare Open Enrollment Period (OEP) for Medicare Advantage (MA) and prescription drug plans (PDPs), runs each year from October 15th through December 7th. Early results show steady increases year-over-year from January 2019 to January 2023 for MA enrollment, while PDP enrollment continues its downward trend. Aggregate MA enrollment is 30.8 million, and stand-alone PDP enrollment is 22.7 million. While January data does not reflect the full OEP results, current enrollment is based on the Centers for Medicare & Medicaid Services’ (CMS’s) January 1, 2023, payment, which reflects January enrollments accepted through December 2, 2022. Many companies conduct their post-enrollment period competitive assessments by using tools such as Mark Farrah Associates’ (MFA) Medicare Business Online™ and Health Coverage Portal™. This brief illustrates MA and PDP performance from January 2019 to January 2023.
About this Data
This brief is based on an analysis of early enrollment data for Medicare Advantage (MA) and prescription drug plans (PDPs) released by the Centers for Medicare & Medicaid Services (CMS). Totals reflect enrollment as of the January 1, 2023 payment. The payment reflects January enrollments accepted through December 2, 2022. In addition to the OEP mentioned above, there is a second Medicare Advantage Open Enrollment period from January 1 through March 31, when MA enrollees can switch to another MA plan or drop their MA plan and return to Original Medicare. Full results of the annual election periods will be available in the April/May time frame. Mark Farrah Associates’ Medicare Business Online™ simplifies the tracking of monthly Medicare Advantage and PDP enrollment by competitor. Enrollment data is updated monthly as soon as CMS releases new data. Additionally, using MFA’s Medicare Benefits Analyzer (MBA), health companies are comparing and analyzing 2023 benefit packages and developing strategies to offer 2024 products that will attract and benefit seniors while ensuring the company is not adversely selected.
About Mark Farrah Associates (MFA)
Mark Farrah Associates (MFA) is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. Our product portfolio includes Health Coverage Portal™, County Health Coverage™, Medicare Business Online™, Medicare Benefits Analyzer™, 5500 Employer Health PLUS, and Health Plans USA™. For more information about these products, refer to the informational videos and brochures, available under the Our Products section of the website (www.markfarrah.com) or call 724-338-4100.
Healthcare Business Strategy is a FREE monthly brief that presents analysis of important issues and developments affecting healthcare business today. If you would like to be added to our email distribution list, please submit your email address to the " Subscribe to MFA Briefs " section at the bottom of this page. Mark Farrah Associates will continue to analyze and report on important health insurance segment performance and related topics. Stay tuned for future analysis briefs with valuable insights about the health care industry.