Medicare Advantage is Growing Up
A recent research brief written by Deborah Donahue of Mark Farrah and Associates provides commentary on the recent growth of Medicare Advantage Plans.
According to the report more than 225,000 americans enrolled in Medicare Advantage plans during the most recent open enrollment period, and total enrollment stands at roughly 10.5 Million nationally.
The top 10 Medicare Advantage carriers (in terms of enrollment) maintain just over 60% market share, of which Humana and UnitedHealth Group maintain more than half (30% market share between them).
The 10 Largest Medicare Advantage Organizations
- UnitedHealth 16% Marketshare
- Humana 14%
- Kaiser Foundation Health Plan 9%
- Wellpoint 4%
- Coventry Health Care 4%
- Aetna 4%
- Blue Cross Blue Shield of Michigan 3%
- Health Net 3%
- Highmark 3%
- Wellcare Health Plan 2%
In addition, 9 new Medicare Advantage Organizations began doing business in 2009 and 6 ceased operations.
Other health insurance plans for seniors include Medicare Supplement plans.
