Is the number of Medicare Advantage Plan beneficiaries growing?

According to a report by the Kaiser Family Foundation, the number of Medicare Advantage beneficiaries has been on a steady climb for the past two decades following changes in policy designed to encourage a robust role for private plan options in Medicare Advantage Plans. As of 2023, 30.8 million people are enrolled in a Medicare Advantage plan, accounting for more than half, or 51 percent, of the eligible Medicare population.The share of eligible Medicare beneficiaries enrolled in Medicare Advantage rose from 19% in 2007 to 51% in 2023.