The Medicare Advantage (MA) market continues to grow significantly with enrollment in privately administered coverage climbing to over 50% of total Medicare enrollment in 2023. However, this growth has also been accompanied by significantly increased competition for enrollment: in 2023, Medicare Advantage enrollees had, on average, forty-three plan choices in their market, up from twenty-four choices in 2019.

Supplemental benefits have been core to Medicare Advantage’s success, acting as a key differentiator from fee-for-service Medicare. For budget conscious beneficiaries in today’s inflationary environment, the out-of-pocket savings that come with coverage for dental or hearing care, transportation services, or food supports provide an opportunity for the plan to provide meaningful help and be indispensable to members.

However, because the broader MA environment has shifted dramatically, plans we speak with are rethinking how they approach supplemental benefits. Download the briefing to read more.