Medicare Data 2022 - Key Facts for Medicare, Medicare Advantage, Medicare Supplement

Welcome to a comprehensive resource sharing key Medicare data 2022 including facts about Medicare, Medicare Annual Enrollment (AEP), Medicare Advantage, Medigap and Part D drug plans. This represents the most current (and relevant) information we can gather as of August 2022.

The American Association for Medicare Supplement Insurance (AAMSI) does NOT sell insurance. If you are using any of this data online we would appreciate a link to this webpage:
https://www.medicaresupp.org/medicare-data-2022/

REPORTERS, BLOGGERS and AUTHORS: A real benefit available for consumers is the Association’s online directory listing local insurance agents who specifically help consumers seeking information and Medicare plan options. It is 100% free AND 100% private (no personal info is entered to access). Medicare plan options are LOCAL and we believe consumers can benefit by comparison shopping and including at least one local Medicare specialist. Please feel free to suggest the directory (click the ‘Find Local Agent” link below and test it yourself!).
Thank you. Jesse Slome, AAMSI, Director
The direct link is https://www.medicaresupp.org/find-local-agent/

Quick Links To Key SECTIONS – Click on links

• What Consumers Don’t Know – Stuff Rarely Told To People!
• Medicare – General Statistics
• Medicare Annual Enrollment Period (AEP)
• Medicare Advantage – Key Statistics & Information
• Medicare Supplement (Medigap) – Key Statistics & Information
• Medicare Drug Plans (Part D) – Key Statistics & Information

Quick Links To Key 2022 FACTS – Click on links

• Medigap Plan Choices For Turning-65 Men/Women
• Number of Different Medicare Drug Plans By States
• Medicare Advantage Plan Growth (2005 – 2022)
• Medigap Plan Participants (2010 – 2022)
• Top 6 Insurers – Medicare Supplement Plans (2021)
• Medicare Advantage Enrollment By Insurer / Entity (Top 5-2021)

Learn the many ways you can switch Medicare plans. Common and lesser-known ways to change.

What Consumers Don’t Know

Medicare Is “LOCAL” – Medicare is (of course) a national program. But, Medicare plan coverage is LOCAL. Plans and plan costs can differ from County to County. A resident of Houston has 69 different Medicare Advantage plans to choose from. Add to that Medigap plans from 29 different insurers. And, 21 different Medicare Part D available. (Note: This is why the Association so strongly believes it is important to ALSO speak to at least 1 local Medicare insurance agent!). 

Medicare is ‘CONFUSING’ and FEW Seniors Review Plans Annually – Only 1 in 3 consumers understand Medicare insurance very well. (2021 Issues & Trends report from AAMSI). From KFF study (Oct. 2020). 57% reported that they do not review or compare options annually. This latter group includes 24% who never compare plans, 22% of beneficiaries who rarely compare plans, 8% who compare once every few years, and 3% who compared only once when they first signed up for Medicare or their Prescription Drug Plan.

Saving on Drug Plan Coverage: The typical consumer who switches drug plan coverage during Medicare’s Annual Enrollment Period (AEP) saves from $550 to $750 a year according to the American Association for Medicare Supplement Insurance (Report, Aug. 1, 2022).

Problems With Medicare Advantage plans: Medicare Advantage (MA) plans deny millions of requests for medical care each year and tens of thousands of those denials are for tests and treatments that should have been approved and paid for, according to a new report from the U.S. Department of Health and Human Service’s Office of Inspector General (April 27, 2022).

Call Center Issues: New rules from the Centers for Medicare & Medicaid Services (CMS) will require insurance agents who sell Medicare Advantage plans to record all phone calls with beneficiaries. This step is in response to the onslaught of TV commercials pitching MA plans via third party marketing organizations. The ads typically feature a celebrity spokespeople and have generated consumer complaints that CMS describes as “confusing and misleading’.

More Local Medicare Advantage Plans To Choose From: The average Medicare beneficiary has 38 different MA plans to choose from and they can be vastly different. In the top 25 Counties where MA plans are selected, individuals have between 60 and 80 plans available. For example, 69 in Houston and 71 in Los Angeles.

Those Free New Dental Benefits in MA Plans: TV ads tout “free dental” but what’s covered can vary significantly and consumers interested in dental benefits should carefully compare what’s included.  There may be an annual limit on dental coverage, for example, $1,000. Some plans may limit you to one cleaning each year. Others may cover two cleanings. Most plans do not cover implants.  But some will up to $2,000. The average annual out-of-pocket limit on dental coverage was $1,300 in 2021. But, more than half of enrollees were in a plan with a maximum benefit of $1,000 or less.  Because some had limits of $500, this is important to check. See more info: Medicare Advantage dental benefits.

Medicare Supplement (Medigap) Plan Pricing Varies: The spread between the lowest and highest Medigap policy can be double (or more). Example: Lowest monthly premium (Plan G) for a female age 65 in Houston (TX) is $121.18. Highest is $226.42.  Access the 2022 Medigap Plan G Price Index for top-10 U.S. metro areas.

Medicare Drug Plan Pricing Varies:  We’ll continue comparing using Houston, TX as an example. In 2022, the lowest Part D drug plan premium was $6.90-per-month according to the American Association for Medicare Supplement Insurance. The highest is $154.90-per-month. Access the 2022 Medicare Drug Plan Price Index for top-10 cities.

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Medicare Annual Enrollment Period (AEP)

Also known as Medicare Open Enrollment, this is when millions of people can can reevaluate their coverage to find better coverage / better costs. From October 15 – December 7 each year, you can join, switch, or drop a plan. Your (new) coverage will begin on January 1 (as long as the plan gets your request by December 7). Failure to act means your existing coverage will auto-renew for the next year.

During AEP you can:
Make a variety of changes, none of which involve medical underwriting.
Switch from Original Medicare to Medicare Advantage or vice versa.
Change from your current Medicare Advantage plan to another.
Switch from your current Part D (Medicare prescription drug) plan to another.
Join a Medicare Part D plan. (Late-enrollment penalty might apply.)
Drop your Part D coverage altogether.

DURING EACH AEP THE ASSOCIATION URGES consumers to compare MA and especially Part D plans. For drug plans, there are multiple online tools that can compare available plans. We make one available (that requires NO personal data be entered).
Learn more at https://www.medicaresupp.org/drug-plans/

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Medicare – General Information

63.8 million Americans are covered by Medicare health plans A & B (CY 2021) up from 62.8 (CY 2020)..

8 million people qualify for Medicare because of being disabled (under 65).

In 2020, Medicare spending comprised 12% of the federal budget and 20% of national health care spending. Medicare spending per person has grown, increasing from $5,800 to $15,300 between 2000 and 2021 – or 4.7% average annual growth over the 21-year period.

The number of Medicare beneficiaries is projected to grow from around 63 million people in 2020 to just over 93 million people in 2060. These totals include younger adults who qualify for Medicare because of a long-term disability.

Net Medicare outlays are projected to increase from $689 billion in 2021 to nearly $1.6 trillion in 2032, due to growth in the Medicare population and increases in health care costs. Source

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Medicare Advantage – Key Statistics and Information

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Medicare Supplement – Key Statistics and Information

Medicare Supplement is also commonly called Medigap. Sold by private insurance companies, it helps fill “gaps” in Original Medicare.

Plans are ‘standardized’ (equal benefits) and identified by alphabetic labels: A through N. For residents in Massachusetts, Minnesota and Wisconsin, Medigap plans are standardized in a different way.

14.6 million individuals currently own Medigap. Source American Association for Medicare Supplement Insurance, 2022 data.

Medicare Supplement is also commonly called Medigap. Sold by private insurance companies, it helps fill “gaps” in Original Medicare.

Each insurer sets their own pricing and these can vary significantly.
Access the 2022 Medicare Supplement Price Index (Plan G) for Top 10 Metro areas

The number of available Medigap plans will vary based on where you live. For example, in Houston there are some 25 different insurers offering Plan G options. But, in Manhattan (NYC) there are only 5.

Top Medicare Supplement Insurers (Covered Lives)
United Health Group – 4.4 million
Mutual of Omaha – 1.4 million
Aetna / CVS Health – 0.965 million
Anthem – 0.670 million

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Medicare Drug Plans (Part D) – Key Statistics and Information

Medicare Part D is a voluntary outpatient prescription drug benefit for people with Medicare. Plan beneficiaries can select either a stand-alone prescription drug plan (PDP)or a Medicare Advantage prescription drug plan (MA-PD)

In 2021, 48 million of the more than 62 million people covered by Medicare were enrolled in Part D plans.

A total of 766 different Part D plans are available across the US (2022). That is down from 996 in 2021.

The number of stand-alone PDP plans varies by state (from between 19 and 27). For example: California (25), Texas (26), New York (19). Florida (22), Colorado (20).

Maximum Deductible for Part D ($480, CY 2022) up from $445 (CY 2021).
Out of Pocket Threshold ($7,050 CY 2022) up from $6,550 (CY 2021)

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