Why more people are enrolling in Medicare Advantage plans
As Medicare's open enrollment season approaches, it's possible a majority of seniors will choose a Medicare Advantage plan for next year rather than traditional Medicare, according to a KFF report.
Why it matters: Medicare Advantage has been growing quickly thanks to promises of capped out-of-pocket costs, vision and dental benefits, and perks like fitness classes.
- But as Axios previously reported, while the private alternatives to traditional Medicare coordinates care for people within a narrower network of doctors and hospitals, promises of saving taxpayer dollars have not panned out.
In 2022, nearly half of (48%) eligible Medicare beneficiaries, or 28.4 million people out of 58.6 million Medicare beneficiaries overall, are enrolled in Medicare Advantage plans.