Top-10 Medicare Advantage plans dominate market

“While there are several hundred plans competing for Medicare Advantage enrollments, the top few really dominate,” notes Jesse Slome, director of the organization. According to information reported by AAMSI, the top-10 account for almost 80 percent of the market.

“In 2023, the largest five players are United Healthcare, Humana, CVS, Elevance and Kaiser,” Slome notes. “UnitedHealthcare has oner a quarter of the market (28.5%) followed by Humana with 17.8%.”

According to the Medicare insurance expert, more seniors are selecting Medicare Advantage plans. “This is clearly the fastest growing segment of the Medicare marketplace but that doesn’t mean it is always the best solution for everyone,” Slome clearly states. “In fact, there has been quite a bit of controversy surrounding MA plans of late and consumers would be wise to carefully compare before choosing.”

To access more information regarding the top-10 Medicare Advantage plans in 2023, go to https://medicaresupp.org/information/medicare-advantage/medicare-advantage-top-10-plans/.

“Seniors have enormous choice today when it comes to Medicare Advantage (Medicare Part C) plan options,” suggests Slome. A recent AAMSI report found that in 2023, there are 177 different Medicare Advantage plans available in Maryland. “Biggest may be better but that’s not always true and is well worth checking out,” Slome notes.

To find the best Medicare plans available locally, the Association makes available the nation’s leading online directory listing local Medicare insurance agents. It is free and private to access via the organization’s website at https://www.medicaresupp.org/find-local-agent/.

The American Association for Medicare Supplement Insurance advocates for the importance of consumer awareness and supports insurance and financial professionals who market Medicare insurance solutions.