MCMURRAY, Pa.--(BUSINESS WIRE)--Mark Farrah Associates (MFA), www.markfarrah.com, assessed Medicare Advantage (MA) and Prescription Drug Plan (PDP) performance, market share and market penetration by state as of March 1, 2020. Total MA membership exceeded 24.7 million and Medicare stand-alone PDPs covered nearly 25.2 members. MA plans grew by 9.3% while there was a 1.4% decrease for PDPs, year-over-year. MFA’s recent analysis brief focused on year-over-year enrollment trends for the MA and PDP senior markets.
- The top ten carriers covered 75.5% of all MA enrollees, with UnitedHealth remaining the market-share leader with over 6.35 million enrollees.
- Florida experienced the most sizeable year-over-year increase of almost 169,000 MA members.
- Stand-alone PDPs experienced a decrease of nearly 370,000 enrollees between March 1, 2019 and March 1, 2020.
- CVS, UnitedHealth, and Wellcare were the leaders amongst the top six companies that control 87% of the PDP market.
Many companies conduct their post-AEP (Annual Election Period) competitive assessments by using tools such as Mark Farrah Associates’ (MFA) Medicare Business Online™ and Health Coverage Portal™ to evaluate any changes in their market standings. For the purpose of this analysis, it’s important to note that MFA did not include the 19.9 million members currently receiving prescription drug coverage through their Medicare Advantage plan.
To read the FREE full text of “A Brief Analysis of Year-Over-Year Medicare Advantage and PDP Enrollment Trends", visit the Analysis Briefs library on Mark Farrah Associates' website.
About Mark Farrah Associates (MFA)
Mark Farrah Associates (MFA) is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. MFA’s Medicare Business Online™ (MBO) product simplifies the tracking of monthly Medicare Advantage and PDP enrollment by competitor. The Medicare Benefits Analyzer™ presents benefit copay comparisons across hundreds of benefit attributes by plan as reported in the Plan Finder on Medicare.gov. MFA also offers Med Supp market data enrollment and financial insights for companies interested in Medicare Supplement business. Our product portfolio also includes Health Coverage Portal™ (with Supplemental Health Care Exhibit data), County Health Coverage™, and Health Plans USA™.