State of Medicare Advantage 2024
Better Medicare Alliance | Report Download
The Medicare Advantage program is expanding and becoming increasingly diverse, serving as an affordable healthcare option for many Medicare-eligible seniors in America. This growth is driven by the program's ability to offer comprehensive coverage, including additional benefits such as vision, dental, and wellness programs, which are not typically covered under traditional Medicare.
Currently, a record 33.8 million seniors and individuals with disabilities have chosen Medicare Advantage, making up nearly 55% of the Medicare population. This significant enrollment reflects the program's appeal and effectiveness in meeting the diverse healthcare needs of its beneficiaries. Additionally, 30% of Medicare Advantage beneficiaries identify as Black, Latino, or Asian, compared to only 18% in Fee-For-Service Medicare.
This demographic shift highlights the program's success in reaching and serving a more diverse population, ensuring that a broader spectrum of individuals can access quality healthcare tailored to their specific needs.
Source: Better Medicare Alliance