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Major insurers to expand Medicare Advantage businesses — 6 insights

During quarterly earnings calls, Anthem, Humana and WellCare Health Plans indicated intentions to capture greater shares of the growing Medicare Advantage market, Forbes reports. Here are six insights:

1. Anthem is finalizing the acquisition of Medicare Advantage plans in Florida, which will increase the state's Medicare Advantage members by 170,000 this year.

2. Humana aims to expand its primary care capabilities and gain Medicare Advantage assets. At the end of 2017, the insurer had almost 2.9 million Medicare Advantage enrollees and announced plans to acquire a minority stake in Kindred Healthcare's home care division.

3. With more than 500,000 Medicare Advantage members, WellCare expects to grow its Medicare and Medicaid lines of business both organically and through acquisitions.

4. Medicare Advantage plans offer seniors additional services, such as disease management and nurse help hotlines, through contracts with the federal government.

5. Insurers that offer Medicare Advantage plans will benefit from the budget Congress recently passed. Alex Azar, the U.S. Secretary of Health and Human Services, expressed support for the plans during his confirmation hearings.

6. L.E.K. Consulting predicts that enrollment in Medicare Advantage plans will jump from 20 million to 38 million by the end of 2025.

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