GITNUX MARKETDATA REPORT 2024

Medicare Statistics: Market Report & Data

Statistic 1

"Medicare provides health insurance for approximately 63.7 million people in the U.S."

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Statistic 2

"In 2019, Medicare benefit payments totaled $799 billion."

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Statistic 3

"Approximately 39 percent of all Medicare beneficiaries were enrolled in Medicare Advantage plans in 2020."

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Statistic 4

"Medicare’s share of the federal budget was 15% in 2018."

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Statistic 5

"Nearly 90% of Medicare beneficiaries have access to at least ten Medicare Advantage plans."

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Statistic 6

"In 2016, 29% of all Medicare beneficiaries had a diagnosis of diabetes."

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Statistic 7

"Hospital care accounted for 43% of Medicare benefit spending in 2017."

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Statistic 8

"Approximately three-quarters (77%) of Medicare beneficiaries had prescription drug coverage in 2016."

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Statistic 9

"Approximately 81% of Medicare spending in 2019 was on older adults."

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Statistic 10

"In 2020, the average premium for Part D plans was $42.05 per month."

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Statistic 11

"In 2019, 35% of all Medicare beneficiaries are enrolled in Medicare Advantage plans."

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Statistic 12

"In 2018, over 60% of Medicare beneficiaries had multiple chronic conditions."

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Statistic 13

"Medicare Part A covers 92 percent of skilled nursing facility stays."

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Statistic 14

"12 percent of Medicare beneficiaries in 2018 resided in rural areas."

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Statistic 15

"In 2018, 26 percent of Medicare Beneficiaries were enrolled in Special Needs Plans."

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Statistic 16

"In 2019, Medicare Advantage enrollment continued to shift toward for-profit plans."

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Statistic 17

"The average out-of-pocket spending by Medicare beneficiaries on premiums and health care services was $5,460 in 2016."

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Statistic 18

"In 2019, total Medicare spending was $796 billion, representing 21 percent of the National Health Expenditure."

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Statistic 19

"In 2016, 3% of Medicare beneficiaries accounted for more than 25% of all Medicare spending."

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