Medicare how many people

Medicare Advantage Part C — allows Medicare beneficiaries to receive Medicare-covered benefits through private health plans which may also include extra benefits such as prescription drug coverage ie, integrated Part D coverage.

In exchange for the benefits, coverage will generally be limited to a network of providers as opposed to the nationwide access to providers that Original Medicare beneficiaries have. Medicare Part D — prescription drug coverage — provides price breaks on prescription drugs for nearly 49 million Americans who enroll in Part D plans designed and administered by private health insurance companies more than 24 million people have stand-alone Part D plans, and more than 24 million have Part D coverage integrated with a Medicare Advantage plan.

Medicare supplement Medigap — is supplemental coverage purchased by Original Medicare beneficiaries to cover out-of-pocket expenses for Medicare-covered services they would otherwise have to pay themselves. Ten different standardized plans are offered in most states — lettered A through N — providing different combinations of money-saving benefits note that plans C and F, both of which cover the Part B deductible in full, are not available to beneficiaries who have become eligible for Medicare after the end of The most comprehensive Medigap alternative for newly eligible enrollees is now Plan G, which is the same as Plan F except for the coverage of the Part B deductible.

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Published by Jenny Yang , Oct 27, Medicare beneficiaries In , Around 54 million of them were beneficiaries for reasons of age, while the rest were beneficiaries due to various disabilities.

The U. With over 6. Medicare's finances Medicare's income was quite significant and amounted to some billion U. It is estimated that almost 80 percent of this income was generated by general revenue and payroll taxes. Other sources of Medicare income are beneficiary premiums, state payments, social security benefit taxations, and interests. However, total Medicare spending was even larger. In , the United States spent around billion U. Hospital inpatient services — as included in Part A - are the service type which makes up the largest single part of total Medicare spending.

When spending exceeds income, solvency becomes a problem. The HI trust fund which pays for Part A is being slowly depleted and predicted to be insolvent in The SMI fund, which pays for Part B and D, on the other hand are authorized by Congress to meet annual spending and include premiums and other sources.

While the SMI trust fund does not face a similar shortfall, increasing spending means likely increasing premiums and higher percentages of the federal budget being spent on Medicare. This text provides general information. Medicare Advantage enrollment is highly concentrated among a small number of firms. UnitedHealthcare has had the largest share of Medicare Advantage enrollment since Its share of Medicare Advantage enrollment has grown from 19 percent in to 27 percent in Humana has also had a high share of Medicare Advantage enrollment, though its share of enrollment has grown more slowly, from 16 percent in to 18 percent in BCBS plans share of enrollment has moderately declined over the years, initially rising from 15 percent in to 17 percent in , but then declining to 14 percent in CVS Health, which purchased Aetna in , has seen its share of enrollment nearly double from 6 percent in to 11 percent in The largest decline has been for all other insurers insurers that have less than 2 percent of enrollment , which has dropped from 26 percent in to 17 percent in BCBS affiliates had the third largest growth in plan enrollment with an increase of about , between March and March CVS Health, which purchased Aetna in , had the fourth largest growth in Medicare Advantage enrollment in , increasing by about , beneficiaries between March and March Medicare Advantage enrollment has steadily increased both nationally and within most states since , with more than 40 percent of Medicare beneficiaries enrolled in Medicare Advantage plans in The share of Medicare Advantage enrollees varies across the country: in 26 states and Puerto Rico, at least 40 percent of Medicare beneficiaries are enrolled in Medicare Advantage plans in , and at least 50 percent in Florida, Minnesota and Puerto Rico.

In a growing number of counties, more than half of all Medicare beneficiaries are in a Medicare Advantage plan, in lieu of traditional Medicare. Enrollment continues to be highly concentrated among a handful of firms, both nationally and in local markets, with UnitedHealthcare and Humana together accounting for 45 percent of enrollment in It will also be important to monitor how well beneficiaries are being served in both Medicare Advantage and traditional Medicare, in terms of costs, benefits, quality of care, patient outcomes, and access to providers, with particular attention to those with the greatest needs.

Anthony Damico is an independent consultant. The Medicare Advantage Penetration Files includes people who were previously, but no longer covered by Medicare e.