Medicare Advantage Riding High as New Insurers Flock to Sell to Older Adults

Enrollment in Medicare Advantage has doubled to more than 20 million in the last eight years, expanding from 25 percent of Medicare beneficiaries to more than 33 percent, reports Kaiser Health News . "The Affordable Care Act did not kill Medicare Advantage, and the program looks poised to continue to grow quite rapidly," says medical consultant Bill Frack. Fourteen new insurers have started selling Medicare Advantage plans for 2019, several more than in a typical year, according to the Kaiser Family Foundation. The Centers for Medicare & Medicaid Services (CMS) notes beneficiaries may choose from about 3,700 plans for 2019, or 600 more than 2018. The agency also expects Advantage enrollment to soar to nearly 23 million people in 2019, a 12 percent gain. CMS officials say enrollees looking for new plans this fall will likely find lower or zero premiums and improved benefits. The Urban Institute's Robert Berenson notes with about 10,000 baby boomers aging into Medicare range daily, the insurance industry is following the assumption "that their future is Medicare, and it's crazy not to pursue Medicare enrollees more actively." Advantage plans have long enticed older adults with benefits, such as vision and dental coverage, not offered by government-run Medicare. Many private plans save seniors money because their premiums, deductibles, and other costs are lower than what beneficiaries pay with original Medicare. However, private plans typically require older adults to use a limited network of doctors and hospitals.