Medicare Advantage 2023 Statistics and Data

Medicare Advantage 2023 statistics: Plan enrollment stands at 29.5 million (2023). This marks an increase of 1.5 million beneficiaries. Growth slowed compared to the last three years.

Some 46 percent of all Medicare beneficiaries are enrolled in Medicare Advantage (Medicare Part C) plans.

Medicare Advantage enrollment growth slowed this past year. Prior years growth was 2.3 million in 2022, 2.2 million in 2021 and 1.9 million in 2020.

Growth comes from new Medicare eligibles (those turning age 65) as well as those switching from Original Medicare to a Medicare Advantage plan option. In 2022, traditional Medicare lost just 339,000 beneficiaries compared to 1.3 million in 2022.

Medicare Advantage 2023 Enrollment

2023: 29.5 Million

2022: 28.0 Million

2021: 25.7 Million

2020: 23.4 Million

2019: 21.5 Million

Number of Medicare Advantage Plans Available Increases

The number of Medicare Advantage plan options available to consumers increased by 11.4 percent between 2019 and 2023. Some 4,100 plan options are currently available nationally.

Total MA Plans Available

2023:  4,100

2022: 3,834

2021:  3,550

2020:  3,148

2019:  2,741

2018:  2,317

2015:  1,945

2010:  2,358

In 2023, the average beneficiary had access to 43 different plan options.

Available Different MA Plan Options

2023:  43

2022: 39

2021:  33

2020:  28

2019:  24

2018:  21

2015:  18

2010:  31

In 2023, 59 percent of MA plans were health maintenance organization (HMO) plans.

41 percent were preferred provider organization (PPO) plans.

Non-Profit and For-Profit MA Plan Breakdown

For-profit insurers account for 72.6 percent of all Medicare Advantage (MA) enrollment in 2023, up from 71.8 percent in 2022. Between 2019 and 2023, for-profit plans have seen a 4.7 percentage point share increase.

The ten largest for-profit plans accounted for 71.5 percent of Medicare Advantage enrollment, with the top five plans accounting for 67.9 percent.

Top-10 For Profit Medicare Advantage Plans (2023 Enrollment in Millions)

UnitedHealthcare (8.644)

Humana (5.324)

CVS Health / Aetna (3.045)

Elevance – Anthem (1.688)

Centene (1.358)
Cigna (0.586)

Molina (0.154)

Bright Health (0.130)

Devoted Health (0.103)

Alignment Healthcare (0.087)

UnitedHealthcare, the largest for-profit player, accounted for 55 percent of all new enrollment. Humana accounted for 23 percent. The 10 largest for-profit plans accounted for 71.5 percent of MA plan enrollment. The top five plans accounting for 67.9 percent.

Nonprofit plan enrollment increased in 2023. The segment’s share however decreased by 3.7 percentage compared to 2019. Nonprofit Blue Cross and Blue Shield plans saw a 0.2 percentage point share increase in 2023. Researchers note that this was their first share gain in years

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