November 29, 2022
There are 30.3 million people enrolled in Medicare Advantage (MA) products nationwide, representing 47% of the 64.8 million Americans eligible for Medicare. Within Metropolitan Statistical Areas (MSAs) nationwide, where 93% of Medicare Eligible people reside, most individual Medicare beneficiaries have two or more, often many more, MA health insurance carrier options to choose from, as of November 1, 2022. Market share at the county and MSA level is available and often analyzed to gain a more nuanced competitive picture of specific markets. In this brief, Mark Farrah Associates (MFA) presents a summary of Medicare and MA market enrollment figures by MSAs, included in the Health Coverage Portal™ and Medicare Business Online™.
As the number of Medicare beneficiaries increases, health plans are looking to expand in new and under-penetrated markets. Companies also evaluate their own market positions against competitors to assess ongoing relative market opportunity. MFA analyzed Medicare and Medicare Advantage market enrollment figures by MSAs and found six MSAs with over a million people eligible for Medicare. As shown below, original Medicare and MA penetration rates vary across the six largest MSAs.
MFA also noted, as of November 1, 2022, that there are 24 MSAs, out of 928, with only one carrier serving individual MA members. Fifty-three MSAs have two carriers, typically Humana and UnitedHealth Group, the top two MA carriers nationwide. More than 850 MSAs offer 3 or more carriers to choose from; and 37 MSAs have ten or more choices.
For the MSAs with only one carrier serving individual MA members, the top six based on Medicare Eligibles are shown below:
Based on November 1, 2022 MA enrollment from the Centers for Medicaid and Medicare Services (CMS), as presented in MFA’s Health Coverage Portal™ and Medicare Business Online™ products, MFA found a significant choice of MA carriers for Individuals seeking alternatives to traditional Medicare and Medicare Advantage options, for most MSAs nationwide.
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.