Mark Farrah Associates (MFA), www.markfarrah.com, released an analysis presenting a brief assessment of the 2024 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 2024 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 5,805 distinct MA plan offerings are in the market lineup for the current 2024 AEP. This includes MA plans, Medicare Advantage with prescription drug plans (MAPDs), Medicare/Medicaid plans (MMPs), and Special Needs Plans (SNPs).
- 719 stand-alone Prescription Drug Plans (PDPs) are being offered for 2024, a decrease from the 811 plan offerings in 2023.
- Approximately 89% of MA plans include Part D benefits.
- 59% 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 2024", 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!
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Contacts
Mark Farrah Associates
Ann Marie Wolfe, amwolfe@markfarrah.com
