Medicare Advantage (MA) plans accounted for an increasing percentage of total home health revenue throughout 2021, according to data from The Financial Monitor, SimiTree’s industry-leading data analytics and benchmarking tool.
By the third quarter, MA plans had grown to almost one-fourth of total revenue for agencies tracked, an increase of about 8 percent over the same time period a year ago.
SimiTree has not yet released its fourth quarter reports for 2021 to the public.
“This is right in line with growth projected by industry groups tracking MA plans and enrollment,” said Brian Martin, SimiTree’s Vice-President of The Financial Monitor. “The current expectation from the Better Medicare Alliance is that the Congressional Budget Office projections show that MA plans will cover over 50 percent of Medicare beneficiaries by 2030. The data shows we’re seeing the impact of this growth in home health.”
Both health-related and SSBCI plans increasing
The Better Medicare Alliance is an industry advocacy organization. In its most recent industry report, the Alliance reported that MA enrollment has nearly doubled over the last decade, with a total of 3,550 active Medicare Advantage plans in 2021. This represents a 13 percent increase over the previous year.
The volume of MA plans offering primarily health-related benefits has risen each year since 2019, surging from 102 plans in 2019 to 730 in 2021.