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US Medicare Market Report

Everything you need to make the right decisions

Providing the most comprehensive and up-to-date information and analysis of the Medicare - US market, and the behaviours, preferences and habits of the consumer.

Mintel has the answers you’re looking for

What are the key challenges facing the industry? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?

Covered in this report

The Medicare public insurance program in the US is administered by the Centers for Medicare and Medicaid Services and is designed to provide certain individuals with affordable, reliable healthcare. The system provides insurance coverage to roughly 60 million Americans, 85% of whom are over the age of 65. Medicare eligibility is not restricted to senior citizens however; in fact, not all senior citizens are even eligible for Medicare.

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Expert analysis from a specialist in the field

Written by Chris Shadle, a leading analyst in the Financial Services sector, his extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.

Medicare was signed into law by President Lyndon Johnson, with the enactment of the Social Security Amendments of 1965, which also provided for the creation of Medicaid. In the half-century since its inception, Medicare has helped bring the share of seniors with health insurance coverage from around 60% to close to 100%. Chris Shadle
Financial Services Analyst


What's included

What's included

Table of contents

Table of contents

  1. Overview

    • What you need to know
      • Definition
      • Executive Summary

        • Market overview
          • Key trends
            • Medicare recipients are very satisfied, and don’t ask a lot of questions
              • Figure 1: Medicare enrollment behaviors, seniors versus younger beneficiaries, December 2019
            • Cost, choice of doctors, coverage are most important factors
              • Figure 2: Factors in selecting Medicare coverage, December 2019
            • Consumers are ready for a more progressive take on healthcare
              • Figure 3: Philosophy of healthcare and Medicare, seniors versus younger Medicare beneficiaries, December 2019
            • What it means and what’s next
            • The Market – What You Need to Know

              • Medicare Advantage growing much faster than Original Medicare
                • Medicare spending and Medicare funding are not aligned
                • Market Size

                  • Vast majority of Medicare recipients qualify simply due to age
                    • Figure 4: Medicare beneficiaries, by age group, as of 2017
                  • Original Medicare still most popular, Medicare Advantage growing faster
                    • Figure 5: Number of people enrolled in Medicare hospital/medical plans, 2014-19
                    • Figure 6: Number of people enrolled in Medicare prescription drug plans, 2014-19
                    • Figure 7: Number of people enrolled in Medicare Supplement Insurance (Medigap), 2014-19
                • Market Forecast

                  • Medicare spending to take off in next decade
                    • Figure 8: Medicare expenditures as a percentage of the Gross Domestic Product, 2000-93
                  • Though spending is set to rise, funding is not
                    • Figure 9: HI trust fund balance at beginning of year as a percentage of annual expenditures, 1990-2027
                • Market Breakdown

                  • Healthcare spending increased almost 30% from 2013-18
                    • Figure 10: Best- and worst-case forecast value sales of healthcare, at current prices, 2013-23
                  • Seniors are more motivated by prevention
                    • Figure 11: Motivations for living healthy – Seniors vs all, August 2018
                • Key Players – What You Need to Know

                  • Almost all seniors have health insurance
                    • US spends more on healthcare than any other country, with dubious ROI
                      • Medicare for all? Probably no time soon
                      • What’s Working

                        • Folks are covered – only 1% of people over 60 are without health insurance
                          • Figure 12: Percentage of uninsured population, by age, 2017-18
                        • Preventative care is in focus
                          • Figure 13: BlueCross BlueShield of Michigan, Wellness Program mailer, March 2019
                          • Figure 14: GenHealthy Medicare Supplement plans, 2020
                          • Figure 15: Humana, SilverSneakers program, January 2020
                        • Insurers have finely tuned their marketing cadence
                          • Figure 16: Medicare annual enrollment period direct mail volume, 2017-18
                      • What’s Struggling

                        • Healthcare spending is out of control
                          • Figure 17: Healthcare spending and life expectancy, by country, as of 2018
                        • Having tough conversations, finding novel solutions
                          • Medicare diabetes prevention program falls short of goals
                          • What to Watch

                            • Aetna plans to fight loneliness with intergenerational friendship
                              • Third-party partnerships drive efficiency, create better health outcomes
                                • Ride-hailing partnerships
                                  • Figure 18: UberHealth example notification, April 2019
                                • Apple to subsidize Apple Watch costs through Medicare Advantage plan
                                  • Figure 19: Devoted Health Plans, Apple Watch subsidy, November 2019
                                • Medicare for all?
                                  • Figure 20: Bernie Sanders Medicare for all mug, January 2020
                                  • Figure 21: Philosophy of healthcare and Medicare, seniors versus younger Medicare beneficiaries, December 2019
                              • The Consumer – What You Need to Know

                                • More than 90% of seniors have Medicare
                                  • Various options are weighed when selecting a plan, cost foremost among them
                                    • Younger Medicare patients consider different coverage factors
                                    • Types of Healthcare Coverage

                                      • More than 90% of seniors are on Medicare
                                        • Figure 22: Types of health insurance, general population versus 65+, December 2019
                                        • Figure 23: Humana, ABCs of Medicare informational video, September 2019
                                        • Figure 24: Aetna, Medicare Advantage plan mailer, September 2019
                                        • Figure 25: Mutual of Omaha, Medicare Supplement mailer, September 2019
                                    • Factors in Choosing a Medicare Plan

                                      • Cost, first and foremost
                                        • Figure 26: Factors in selecting Medicare coverage, December 2019
                                      • For those under 65, prescription coverage and star ratings more important
                                        • Figure 27: Factors in selecting Medicare coverage, seniors versus younger beneficiaries, December 2019
                                      • Medicare recipients under 65 look to far more sources
                                        • Figure 28: Sources used to learn about Medicare, seniors versus younger beneficiaries, December 2019
                                        • Figure 29: USAA Medicare supplement email, August 2019
                                    • Enrollment and Coverage Behaviors

                                      • Many folks don’t do much research
                                        • Figure 30: Medicare enrollment behaviors, seniors versus younger beneficiaries, December 2019
                                      • Changing coverage isn’t common
                                        • Figure 31: Changes in Medicare coverage, seniors versus younger beneficiaries, December 2019
                                    • Attitudes toward Healthcare

                                      • Under 65 recipients think about healthcare differently
                                        • Figure 32: Satisfaction with and costs of healthcare, seniors versus younger Medicare beneficiaries, December 2019
                                      • Medicare wish list: dental, vision, more preventative care
                                        • Figure 33: Normative views on healthcare, December 2019
                                        • Figure 34: UnitedHealthcare mobile capabilities, September 2019
                                    • Appendix – Data Sources and Abbreviations

                                      • Data sources
                                        • Consumer survey data
                                          • Consumer qualitative research
                                            • Direct marketing creative
                                              • Abbreviations and terms
                                                • Abbreviations

                                                About the report

                                                This report will give you a complete 360-degree view of your market. Not only is it rooted in robust proprietary and high-quality third-party data, but our industry experts put that data into context and you’ll quickly understand:

                                                • The Consumer

                                                  What They Want. Why They Want It.

                                                • The Competitors

                                                  Who’s Winning. How To Stay Ahead.

                                                • The Market

                                                  Size, Segments, Shares And Forecasts: How It All Adds Up.

                                                • The Innovations

                                                  New Ideas. New Products. New Potential.

                                                • The Opportunities

                                                  Where The White Space Is. How To Make It Yours.

                                                • The Trends

                                                  What’s Shaping Demand – Today And Tomorrow.

                                                Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted.