Some 25 million U.S. residents are signed up for Medicare Advantage plans across the nation. This means that about 36% of all 68 million people eligible for Medicare are enrolled in Medicare Advantage plans – a number called the “Penetration Rate.” As of June 2020, the county with the top penetration rate in the 50 U.S. states was Florida’s Miami-Dade, with 67 percent of all Medicare-eligible citizens enrolled in Medicare Advantage plans.
Medicare Advantage Penetration Rates by County
2008-Jun
What Is Medicare Advantage?
Medicare Advantage offers the same access to doctors and hospitals as Original Medicare with other benefits. These options include prescription drugs, vision and dental coverage. Private companies run Medicare Advantage plans with deductibles, copayments, and coinsurance. Members generally get their benefits through an HMO or PPO. Beneficiaries find 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.
Medicare Advantage Posts Steady Growth
Enrollment in Medicare Advantage nationwide rose from 10 million in 2008 to 25 million in 2020, making up an increasing share of all Medicare beneficiaries. Despite the rapid growth, the total number of Medicare beneficiaries has risen even faster – from roughly 45 million to some 68 million people – meaning Medicare Advantage has plenty of room to grow.