The 2022 report from the Better Medicare Alliance (BMA), a research and advocacy organization that supports Medicare Advantage, gathers the latest data to provide a picture of the Medicare Advantage experience today–from beneficiary demographics and enrollment trends to supplemental benefit offerings and consumer savings, to health outcomes and bipartisan support in Washington.
BMA has released its annual “State of Medicare Advantage Report,” which it says shows greater diversity, lower costs, and better outcomes among those enrolled in Medicare Advantage in 2022 compared to those in fee-for-service (FFS) Medicare.
“More than just facts and figures on a page, this report is a testament to what policymakers and advocates can do when they put beneficiaries first–and what can still be achieved by protecting and strengthening this well-working health care success story,” Mary Beth Donahue, president and CEO, BMA, said in the announcement.
In the wake of negative and critical headlines about the industry, including allegations of health plans denying care and overcharging for services, the BMA report emphasizes Medicare Advantage’s innovative coverage offerings, affordable choices, and best practices for addressing social determinants of health.
Here are the highlights of BMA’s 2022 findings:
- Forty-five percent (28.4 million) of the Medicare population have enrolled in Medicare Advantage
- Enrollment in Medicare Advantage has doubled over the last decade
- Nearly 34 percent of Medicare Advantage beneficiaries identify as a racial or ethnic minority, compared to 16 percent in traditional Medicare
- Since 2013, enrollment in Medicare Advantage has grown 111 percent among minority beneficiaries and 125 percent among dually eligible beneficiaries
- Almost all (99.7 percent) of Medicare beneficiaries have access to a Medicare Advantage plan
- Eighty-nine percent of Medicare Advantage plans offered include prescription drug coverage
- Approximately 100 percent (99.9 percent) of Medicare Advantage plans offer supplemental benefits
Affordability and value
- Medicare Advantage beneficiaries report spending nearly $2,000 less on out-of-pocket costs and premiums annually
- The average monthly premium for Medicare Advantage plans in 2022 is $19, a 15-year low
- Medicare Advantage provides $32.5 billion annually in additional value to beneficiaries and the federal government
- Medicare Advantage covers all Medicare-covered services like hospital and physician services for 24 percent less than FFS Medicare
- Medicare Advantage beneficiaries experienced a 19 percent lower rate of COVID-19-related hospitalizations during the first nine months of the pandemic
- Medicare Advantage beneficiaries see a 43 percent lower rate of avoidable hospitalizations for any condition
- Medicare Advantage beneficiaries had a 21 percent higher rate of seeing a physician within 14 days of a hospital discharge
- Ninety-four percent of Medicare Advantage beneficiaries report being satisfied with their coverage