According to data from the Medicare Payment Advisory Commission (MedPAC) and other analyses, Medicare's average annual spending per beneficiary in traditional Medicare is approximately $12,000 to $14,000.
Estimates from MedPAC (2024) suggest that Medicare Advantage plans cost Medicare about 22% more than traditional Medicare, implying an average annual cost of approximately $14,500 to $16,000 per enrollee in 2024.
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