BCG May 5, 2022
As competition grows, plans need to win their members’ trust—and their renewal—every year. Here’s how to do it.
It’s been one of the fastest growing segments of the health insurance market. Since Medicare Advantage (MA) was established in 2008 as a lower-cost alternative for seniors looking to save on monthly premiums, benefits have proliferated and MA plans have attracted more than 26 million members—42% of all Medicare recipients—according to the Kaiser Family Foundation. MA accounted for more than $340 billion, or 46%, of Medicare spending in 2021.
The allure of such a large and growing market is obvious. But managing a profitable MA plan is...
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