Early Look at AEP Data Shows Medicare Advantage Membership Gains of 8.8%
Preliminary enrollment figures from the 2020 Annual Election Period (AEP) indicate that Medicare Advantage enrollment surpassed 24.3 million lives, up 8.8% from 22.4 million posted a year ago. The January enrollment report from CMS reflects enrollments accepted through Dec. 6, 2019, just one day before the AEP closed. Final enrollment figures will be disclosed in the February report. CMS has projected overall MA enrollment growth of 10% from 2019 to 2020.
According to Barclays securities analyst Steve Valiquette, publicly traded insurers “continue to consolidate share in the Individual market.” Market leader UnitedHealth Group added 307,000 lives for a year-over-year increase of 13.5% that was in line with the company’s expectations, he observed in a Jan. 10 research note. During a Jan. 15 conference call to discuss fourth-quarter 2019 earnings, UnitedHealth executives said they expect the final AEP increase to be 370,000 lives, for the company’s “strongest performance ever” in that period.