2022 Post AEP
Findings Report

February 28, 2022       Report

With a vast range of Medicare Advantage offerings designed to cater to the masses, developing the right mix of design features and costs is a daunting task for each participating organization. As of January 2022, enrollment in Medicare Advantage plans has reached 23.5 million, a 9.8% increase over the 21.4 million last year. To meet the needs of the market, the 2022 Annual Enrollment Period (AEP) saw an addition of 452 net plans in total, a rise of 9.1%. While slightly lower than the 12.8% increase seen last AEP, a significant increase none the less. This report was developed to highlight the major enrollment changes in plan type and various cost buckets within the Medicare Advantage market as well as demonstrate how the market has evolved over the past 5 years.

National Overview

1.1 Plan Overview

  • At an overall level, the number of plans available in the MA market will grow 9% YoY, taking the total number of plans to 5,406 in 2022.

  • For the first time since 2018 the new growth of plans has dropped below 550.

  • With an 8.6% decrease in new plans for 2022 (822 new plans in 202; 899 new plans in 2021), only 15% of plans were new plans and initial plans with the rest comprising of renewal plans.

  • The decrease in the introduction of new plans may indicate that the market is stabilizing, and existing plans have caught up to new plans in terms of value to beneficiary.

1.2 Enrollment Overview

  • YoY enrollment has grown at a steady rate with an 9.8% increase in 2022.

  • 2020 saw the biggest jump in net enrollment (Jan’2020 – Dec’2019).

  • 2022 witnessed a drop of 10.7% in net enrollments for the first time since 2018.

  • Looking at the contribution of net enrollments, most enrollments come from new and initial plans.

  • Renewal plans and renewal plans with service area reduction (SAR) were the only plans that saw a net loss.

1.3 National Highlights

  • Texas, Florida, and California continue to be top markets in terms of total enrollment.

  • For new plans, Arizona, Michigan, and Ohio are states that stand out in terms of enrollment.

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Premium Overview

6.1 Total Plan Overview