Medicare Advantage Special Needs Plans on the Rise
KENNEBUNK, Maine--()--Medicare Advantage Special Needs Plans continue to grow according to Mark Farrah Associates' (MFA) latest Business Strategy Report. MFA found, as of March 1, 2013 nearly 1.7 million people were enrolled in Medicare Special Needs Plans (SNPs) nationwide, up 18% over March 1, 2012. In 2003, Congress established SNPs to serve institutionalized beneficiaries, dual-eligible beneficiaries, and/or individuals with severe or disabling chronic conditions. Enrollment growth trends in SNPs have been variable since their inception. SNPs are reauthorized by Congress, usually yearly, and the short term nature of the authorizations has influenced enrollment. SNP enrollment in March 2013 is up 84% from the more than 906,000 people who were enrolled in May 2007, according to the analysis done by MFA on data released by the Centers for Medicare and Medicaid Services (CMS).
“Medicare Advantage Special Needs Plans on the Rise”
All but six states have people enrolled in SNPs as of March 2013. The six exception states are: Alaska, Montana, North Dakota, South Dakota, Vermont and Wyoming. Windsor Health Plan offers a dual-eligible SNP in Central and Western Montana but enrollment in this plan is less than 11 in any specific county for these plans, according to CMS data.
UnitedHealth Group, the largest health plan in the U.S. based on enrollment, provides coverage for 24% of the people enrolled in SNPs and is the leading plan in the Special Needs market. In the latest Healthcare Business Strategy report, MFA aggregated and analyzed enrollment data for all SNPs nationwide. To read the full text of “Medicare Advantage Special Needs Plans on the Rise,” visit the Analysis Briefs library on Mark Farrah Associates’ website www.markfarrah.com.
About Mark Farrah Associates (MFA)
MFA is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. Committed to simplifying analysis of health insurance business, our products include Medicare Business Online™, Medicare Benefits Analyzer™ Health Coverage Portal™, County Health Coverage™, Health Insurer Insights™, and Health Plans USA™.
Posted: April 8, 2013