Posts Tagged ‘wellpoint’

Largest Medicare Advantage Plans

Posted on: February 21st, 2012 by SusanRL

A recent article by Debra Donahue of Mark Farrah Associates analyzes the recent growth in Medicare Advantage plans nationally.

On an aggregate level, enrollment in Medicare Advantage plans increased to  13.3M nationally, growth of 1.15M members.  This represents year over year of about 9.5%, and enrollment in Medicare Advantage plans account for  27% of the nations Medicare beneficiaries.

At the carrier level, United Healthcare remains the largest provider of Medicare Advantage coverage, insuring 2,460,072 members, representing 18.5% share of the Medicare Advantage market nationally, and 10.3% year over year growth.

The next largest Medicare Advantage organizations include

2.  Humana:  covering 2,191,393 members (16.5% market share and 15.3% growth over last year)

3.  Kaiser Foundation Health Plan: 1,077,483 members (8.1% share and 6.2% growth)

4.  Wellpoint: 654,000 members (4.9% share and 9.6% growth)

5.  Aetna: 432,902 members (3.3% share and 9.3% growth)

Of companies with over 100,000 Medicare Advantage members, the plans with the largest year over year  % growth include

1.  Universal Health Care with 28.3% enrollment growth (27,245 members)

2. Wellcare with 24.5% enrollment growth (28,853)

and 3. Humana as previously mentioned gained 15.3% and (290,131 members.  the largest year over year member growth)

Four plans experiences losses of at least 9,000 members:  QHP Group, University Healthcare (both of which exited Medicare Advantage market) Sentara Healthcare, and Universal American Financial.