Administrative Costs for Medicare Plans Increase Slightly in 2021
In 2021, administrative expenses for Medicare plans increased by 0.6% per member compared to a 5.6% increase in 2020.
- In 2021, administrative expenses for Medicare plans increased by 0.6% per member compared to a 5.6% increase in 2020.
- That edition of the Sherlock Benchmarks analyzes the results of in-depth surveys of 10 Medicare-focused plans serving 1.6 million members in Medicare Advantage and Medicare SNP plans who together served 12.3 million members in Comprehensive Products.
- In March 2022, members in Medicare Advantage plans accounted for 46% of Medicare-eligible beneficiaries, up from 43% in 2021 and 13% in 2005.
- Besides the Medicare-focused universe, other universes include Blue Cross Blue Shield Plans, Independent / Provider Sponsored plans, Medicaid plans, and Larger Plans.