Medicare Advantage Enrollee Numbers Are Rising — Here's Why

Enrollment in Medicare Advantage plans has outpaced expectations, but people should use caution when viewing these plans, expert says.

Medicare advantage in a clipboard.
(Image credit: Getty Images)

CVS Health's recent announcement that its 2024 Medicare Advantage plan enrollment grew more than expected is not too surprising given the perks these types of plans can offer, but people should use caution when considering these plans, a Medicare consultant told Kiplinger recently.

CVS Health's news is also in line with data from the trade group America's Health Insurance Plans, which shows that more than 32 million seniors and people with disabilities are enrolled in Medicare Advantage plans. The number is expected to grow by more than 34 million by year-end.

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Joey Solitro

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.