Medicare Advantage in 2024: Enrollment Update and Key Trends

Medicare Advantage has seen a steady increase in enrolment over 20 years. In 2024, 32.8 million people or 54% of the eligible Medicare population are enrolled in a Medicare Advantage plan. This growth is attributed to factors such as no premium plans, extra benefits not included in traditional Medicare, and out-of-pocket spending limits. Medicare Advantage enrolment is reaching a dominant presence and as Medicare’s current payment methodology is deemed high for the programme, policymakers are looking at ways to enhance efficiency and reduce spending.