Medicare

New & Noteworthy

Medicare Advantage
Financial Performance of Medicare Advantage and Group Market Insurers Amid the Coronavirus Pandemic
The drop in health care utilization during the coronavirus pandemic has contributed to higher gross margins and lower medical loss among many private insurance plans. Findings suggest that health insurers in most markets have become more profitable during the pandemic.
Financing
Medicare’s Finances Have Gotten Much Worse in Recent Years, Foreshadowing Tough Choices for November’s Winners
This Policy Watch post discusses the latest Medicare Hospital Insurance trust fund solvency projections, which show the extent to which the COVID-19 pandemic has hurt Medicare’s financial outlook, and foreshadow the tough choices facing the next President and Congress.
Part D
An Overview of the Medicare Part D Prescription Drug Benefit
In 2020, 46 million of the more than 60 million people covered by Medicare are enrolled in Part D plans. This fact sheet provides an overview of the Medicare Part D program, plan availability, enrollment, and spending and financing, based on data from the Centers for Medicare & Medicaid Services (CMS), the Congressional Budget Office (CBO), and other sources.
Physician Opt-Out
How Many Physicians Have Opted-Out of the Medicare Program?
Despite changes in law that have made it easier for physicians to opt-out of the Medicare program, only 1 percent of all non-pediatric physicians have formally done so in 2020. The share varies specialty, and is highest for psychiatrists, at 7.2 percent. If a public option moves forward, and if current opt-out rules apply to both Medicare and the public option, physicians may be even less likely to opt out to retain their patients and revenue.

Medicare advantage statistics

Latest Polling

59%

of Medicare Advantage enrollees are in plans operated by UnitedHealthcare, Humana, or BlueCross BlueShield affiliates in 2019. (2019 Issue Brief)

29%

of new Medicare beneficiaries enrolled in Medicare Advantage plans during their first year on Medicare in 2016. (2019 Issue Brief)

34%

of all Medicare beneficiaries (22 million people) are enrolled in Medicare Advantage plans. (2019 Issue Brief)

62%

of the 22 million Medicare Advantage enrollees in 2019 are in in HMOs, with the rest in local or regional PPOs. (2019 Fact Sheet)

medicare advantage resources

The Essentials

Basics
An Overview of Medicare Coverage
Medicare plays a key role in providing health care and financial security to more than 60 million older people and younger people with disabilities.
federal budget
The Facts on Medicare Spending
Medicare spending was 15 percent of total federal spending in 2018. Benefit payments totaled $731 billion that year.
income and assets
Finances of Medicare Beneficiaries, 2016-2035
Half of all Medicare beneficiaries had incomes below $26,200 per person in 2016 and savings below $74,450.
medicare part d
10 Things to Know About Part D
Part D is a voluntary outpatient prescription drug benefit for people with Medicare, provide through private plans approved by the federal government.
quiz
How Much Do You Know About Medicare?
Take this quiz to find out how much you know about Medicare, the people it serves, the benefits it covers, and its financial status.