Gettysburg, PA, April 10, 2018 (GLOBE NEWSWIRE) -- A new report from OPEN MINDS found that a few select insurers own a large share of the Medicare Advantage special needs plan (SNP) market – in total, the ten largest insurers cover more than 72% of the market. UnitedHealthcare is the largest player with more than 31% of the SNP market share. The Medicare Advantage SNP market, likely many markets in health care, is dominated by a few large players. That market concentration is growing—although enrollment has increased over the years, the number of plans being offered has decreased. OPEN MINDS has released this analysis in their recent report, Medicare Specialty Vertical Carve-Out Plans: The 2018 OPEN MINDS Medicare SNP Market Share Report.
The report also found that 2.5 million Medicare beneficiaries served by SNPs account for 12.3% of the total 20.4 million Medicare Advantage enrollees, and 4% of the total 58.9 million Medicare beneficiaries. This is an increase of 92% between 2010 and 2017. Dual eligibles are the predominant group participating in SNPs, representing 83% of the total population, while individuals with chronic conditions represent 14% of the population, and individuals in institutions represent 3% of the population.
“For executive teams of provider organizations serving complex consumers, the opportunities associated with SNPs are growing,” said OPEN MINDS Market Intelligence Director Athena Mandros. “SNP members generally are populations with more and more severe health conditions, requiring more services. And Medicare Advantage plans, like commercial health plans and Medicaid health plans, are increasingly using value-based payment arrangements and innovative population health management programs – all opportunities for entrepreneurial provider organizations. Our report is designed to give executive teams the information they need to assess the opportunities in Medicare specialty health plans, including the change in Medicare Advantage SNP enrollment over time, by state, and by type of Medicare Advantage SNP.”
The report, Medicare Specialty Vertical Carve-Out Plans: The 2018 OPEN MINDS Medicare SNP Market Share Report, can be purchased in the OPEN MINDS estore for $495 (it is available at no charge to Premium and Elite members of the OPEN MINDS Circle). This report examines the current SNP landscape, including:
- Trends in SNP enrollment by plan type year over year
- Analysis of the number of plans operating in the SNP market year over year
- Comparison of the top SNP insurers in 2016 and 2017, including enrollment and type of plans offered
- The number of enrollees in each type of SNP by state
- The number of plans and insurers available in each state
Learn more about becoming an OPEN MINDS Circle member online at www.openminds.com/membership.
For additional questions and inquiries, please contact Sarah Threnhauser, Executive Vice President, OPEN MINDSat 717-334-1329 or sthrenhauser@openminds.com.
ABOUT OPEN MINDS
OPEN MINDS is a national market intelligence and strategic advisory firm focused on the sectors of the health and human service field serving consumers with chronic conditions and complex support needs. Founded in 1987 and based in Gettysburg, Pennsylvania, the 175+ associates provide market insights and innovative management solutions designed to improve operational and strategic performance. Learn more at www.openminds.com.