Mark Farrah Associates Assessed MA, Stand-alone PDP Membership Trends
MFA assessed Medicare Advantage and Prescription Drug Plan performance, market share, and market penetration by state from about 24.7 milion MA members and 25.2 Medicare stand-alone PDPs.
Mark Farrah Associates (MFA) assessed Medicare Advantage (MA) and Prescription Drug Plan (PDP) performance, market share, and market penetration by state as of March 1, 2020, according to a release.
Total MA membership exceeded 24.7 million and Medicare stand-alone PDPs covered nearly 25.2 members, the release said.
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.
Related: Medicare Advantage Plans Covering More SDOH Benefits
Other key findings were:
- 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 should be known MFA did not include the 19.9 million members currently receiving prescription drug coverage through their Medicare Advantage plan.
To see the report “A Brief Analysis of Year-Over-Year Medicare Advantage and PDP Enrollment Trends", visit the Analysis Briefs library on Mark Farrah Associates' website.
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