JAMA Network March 20, 2024
Medicare Advantage (MA), the private alternative for Medicare beneficiaries, grew substantially during the past decade, increasing from 29% of the eligible Medicare population in 2013 to 51% in 2023.1 The Congressional Budget Office projects that MA enrollment will reach 62% by 2033.1 Medicare Advantage growth has been fueled by converting individuals’ traditional fee-for-service Medicare to MA by offering extended benefits such as vision and dental coverage, over-the-counter drug coverage, and out-of-pocket cost caps. However, with greater concentration of MA plans across the country and a shrinking traditional fee-for-service Medicare population, MA plans now need to compete for beneficiaries already enrolled in MA.
In the face of increasing competition, textbook business strategy advises segmenting the market and specializing the product as...
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