What Are Medicare Advantage Enrollment and Penetration in ?
Some residents are signed up for Medicare Advantage plans in . That translates to a penetration rate of about % among all people eligible for Medicare.
What Is Medicare Advantage?
Medicare Advantage packages the same access to doctors and hospitals as Original Medicare with other benefits. These options include prescription drugs, vision and dental coverage. Private companies administer Medicare Advantage plans with deductibles, copayments, and coinsurance. Members usually get their benefits through an HMO or PPO.
Beneficiaries get lower premiums and a cap on out-of-pocket costs. But they get fewer choices of doctors and are limited to a geographic area for their plans.
What Are Trends in Medicare Advantage Enrollment in ?
enrollment numbers for Medicare Advantage plans have increased over the last dozen years. In 2008, about signed up for Medicare Advantage. In 2020, that number grew to some out of about residents who are eligible for Medicare.
What Are Noteworthy Trends in Medicare Advantage Penetration or Enrollment by County?
The penetration rate (or rate eligible-Medicare beneficiaries who choose Medicare Advantage plans) has more than doubled from just under 20% in 2008 to over 41% in 2020.
At the same time, the number of Medicare-eligible residents grew by 45% from nearly 799,000 in 2008 to almost 1.2 million in June 2020. As of June 2020, Lowndes County had the highest penetration rate of 56.40%. The county with the lowest penetration rate was Lamar County at 22.66%