KENNEBUNK, Maine--(BUSINESS WIRE)-- As Medicare Advantage plans assimilate health reform legislation impacting 2011 and beyond, the final results of the 2010 Medicare Advantage (MA) enrollment season are in. The 261 companies active in MA enrolled nearly 11.5 million Medicare beneficiaries as of March 2010, up nearly 621,000 members from March 2009. Despite conservative growth strategies and stricter marketing regulations and legislation many Medicare Advantage companies experienced moderate growth rates according to a new report by Mark Farrah Associates, a leading provider of market data and intelligence solutions.
Total Medicare Advantage (MA) plan enrollment as of March 2010 stood at 11,459,288, with a gain of 620,834 net new members from March 2009 to March 2010. The 5.7% growth rate was down from 12.6% for the same timeframe one year ago. As of March 2009 there were 10 companies with more than 250,000 Medicare Advantage members, today only 8 companies have that distinction. Coventry, Blue Cross Blue Shield Michigan (BCBSM) and WellCare all lost market share during the period and Universal American gains were enough to advance it to the leader board. Currently, UnitedHealth Group and Humana together manage almost 33% of the market, up 3.0% from one year ago.
The senior market segment is poised for growth due to demographic trends and legislative changes. Mark Farrah Associates will present the latest market and competitive insights about this growing market at the Medicare Market Innovations Forum on July 13 -14, 2010, in Newport Beach, CA.
To read the full text of “Medicare Advantage Plans Peak at 11.5 Million Members,” visit the Healthcare Business Strategy library on Mark Farrah Associates’ website www.markfarrah.com.
About Mark Farrah Associates (MFA)
MFA is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. Committed to simplifying analysis of health insurance business, our products include Medicare Business Online™, the new Medicare Benefits Analyzer™, Health Coverage Portal™, Health Insurer Insights™ and Health Plans USA™.
Mark Farrah Associates
Debra Donahue, 207-985-8484
KEYWORDS: United States North America Massachusetts
INDUSTRY KEYWORDS: Golf Other Consumer Health Public Policy/Government Healthcare Reform Labor Other Health Other Policy Issues Public Policy State/Local Professional Services Human Resources Insurance Other Professional Services Consumer Sports General Health