More than 20 million Americans choose to get their Medicare benefits through a Medicare Advantage plan. Medicare Advantage is a public-private partnership where health insurance providers cover everything traditional Medicare covers – and more.
Medicare Advantage is growing, serving more than 30% of all Medicare beneficiaries today. Hardworking Americans from all backgrounds, all over the country – including nearly half of Latino and a third of African American beneficiaries – choose Medicare Advantage. And more than half of Medicare Advantage beneficiaries have incomes of less than $30,000.
Americans who are eligible for Medicare can enroll in Medicare Advantage plans during the Open Enrollment Period each year, which usually runs from mid-October through early December.
Medicare Advantage plans deliver affordable coverage. They cap out-of-pocket costs for seniors, which regular Medicare doesn’t, and they cover services and extra benefits that traditional Medicare does not.
An estimated 2.4 million more Americans will choose Medicare Advantage, for a total enrollment of 22.6 million – 37% of all Medicare beneficiaries.
The average Medicare Advantage premium is expected to fall at least 6%, and more than 80% of Medicare Advantage enrollees will have the same premium or lower than in 2018.
Medicare Advantage plans will be available to 99% of Medicare-eligible Americans.
More than 91% of beneficiaries will have 10 or more plans to choose from, and each U.S. county will have 34 different plans to choose from on average.