Medicare Advantage Enrollment Breaks 50% For First Time

More than half of all Medicare beneficiaries as of January 2023 were enrolled in a Medicare Advantage plan, at 30.2 million members out of all 59.8 million Medicare beneficiaries with Parts A and B coverage. This is the first time that Medicare Advantage enrollment has exceeded 50% of total beneficiaries. The Medicare Advantage penetration rate has been rising steadily since 2007 when it was 19%. By 2014, it was 14%, and by 2021 it was 46%.

Medicare Advantage plans are offered by private insurers, some for-profit and some non-profit, under contract with the Centers for Medicare . . .