KFF September 20, 2023
Executive Summary
Most of the 65 million beneficiaries who receive health insurance coverage through the federal Medicare program are enrolled in some form of private plan. In 2023, 31 million Medicare beneficiaries are enrolled in Medicare Advantage (Medicare Part C) plans administered by private health insurers. The other 34 million beneficiaries are in traditional Medicare, including 22 million beneficiaries who are enrolled in a Medicare Part D prescription drug plan offered by private sponsors, and more than 14 million who have Medicare supplemental insurance (Medigap) offered by private insurers (traditional Medicare beneficiaries may be enrolled in a Part D plan, a Medigap plan, or both).
Private plan offerings have grown in recent years, most notably in the Medicare Advantage market....
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