Mark Farrah Associates Assessed the 2023 Competitive Medicare Advantage Market

MCMURRAY, Pa.--(BUSINESS WIRE)--
Mark Farrah Associates (MFA), www.markfarrah.com, released an analysis presenting a brief assessment of the 2023 Medicare market landscape. MFA used plan information detail presented in Medicare Benefits Analyzer™, a subscription based dataset providing customers easy access to competitive Medicare.gov benefits data and Star Quality Ratings. With the 2023 Annual Election Period (AEP) well underway, health plans invested in Medicare Advantage (MA) business have been eagerly marketing their products to attract more seniors.

• MFA reported 5,764 distinct MA plan offerings are in the market lineup for the current 2023 AEP. This includes Medicare Advantage plans without Part D coverage (MA w/no PD), Medicare Advantage with prescription drug plans (MAPDs), Medicare/Medicaid plans (MMPs – Demonstration plans), and Special Needs Plans (SNPs).

• 811 stand-alone Prescription Drug Plans (PDPs) are being offered for 2023, an increase from the 776 plan offerings in 2021.

• Approximately 89% of MA plans include Part D benefits.

• 66% of MA plans (excluding SNPs) are available at the $0 plan premium level.

To read the full FREE text of “Medicare Market Insights and Plan Competition for 2023", visit the MFA Briefs on Mark Farrah Associates' website.

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: Health Coverage Portal™, Medicare Business Online™, Medicare Benefits Analyzer™, County Health Coverage™, Health Plans USA™ and 5500 Employer Health ^Plus. Follow us on LinkedIn!

Healthcare Business Strategy is a FREE monthly brief that presents analysis of important issues and developments affecting healthcare business today. If you would like to be added to our email distribution list, please submit your email to the "Subscribe to MFA Briefs" section at the bottom of this page.

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Mark Farrah Associates
Ann Marie Wolfe, amwolfe@markfarrah.com

Source: Mark Farrah Associates