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Q1Group 2016 MA/MAPD Analysis: Medicare Advantage plans (MAs and MAPDs) shows premium stability since 2014

Annual Medicare plan changes · published Oct 9, 2015

In general, monthly Medicare Advantage plan premiums have remained stable over the past several years with almost 70% of all Medicare Advantage plans (MA and MAPD combined) having premiums under $50 per month.

In 2016, 34.82% of Medicare Advantage plan will have a $0 premium and an additional 10% of the 2016 Medicare Advantage plans will have a premium between $0.10 and $25.  Overall, 69.54% of the 2016 Medicare Advantage plans will have a premium of $50 or less.

As a comparison, in 2015, 34.55% of Medicare Advantage plan had a $0 premium and an additional 9% of the 2015 Medicare Advantage plans had a premium between $0.70 and $25.  Here is a table showing how the MA/MAPD premiums have varied over the past three years.

Premium Range 2016 MA/MAPD Plans 2015 MA/MAPD Plans 2014 MA/MAPD Plans
# % # % # %
Total Plans 2794 2628 2645
MSA no Premium 4 0.14% 7 0.27% 6 0.23%
$0 Premium Plans 973 34.82% 908 34.55% 968 36.60%
Premium >$0-$25 276 9.88% 224 8.52% 294 11.12%
Premium >$25-$50 694 24.84% 689 26.22% 576 21.78%
Premium $0-$50 1943 69.54% 1821 69.29% 1838 69.49%
Premium >$50-$75 267 9.56% 258 9.82% 258 9.75%
Premium >$75-$100 215 7.70% 183 6.96% 205 7.75%
Premium >$100-$200 299 10.70% 294 11.19% 282 10.66%
Premium >$200-$300 61 2.18% 61 2.32% 51 1.93%
Premium >$300 5 0.18% 4 0.15% 5 0.19%

The corresponding graph better illustrates the same stability of Medicare Advantage plan premiums for plan years 2014 through 2016.

151008_MA_Premiums.jpg
Please note: The overall stability of Medicare Advantage plan premiums does not indicate that your Medicare Advantage plan premium will not change in 2016.  To see how your 2015 Medicare Advantage plan is changing in 2016, please use our Medicare Advantage plan comparison tool (MA-Compare.com).  For more information, you can telephone Medicare at 1-800-633-4227 to speak with a Medicare representative.

Reminder: October 15th starts the annual Open Enrollment Period
The annual Medicare Open Enrollment Period (or Annual Coordinated Election Period) for 2016 Medicare Part D plans and Medicare Advantage plans begins on Thursday, October 15th and continues through Monday, December 7th, with 2016 Medicare plan coverage beginning on Friday, January 1, 2016.