EXHIBIT 1.

Medicare Advantage (MA) enrollees’ characteristics, by consolidation status, 2014

Characteristics	Consolidated	Nonconsolidated
Enrollees
Number	1,325,632	16,002,968
Percent	7.7	92.4
Mean MA plan star rating	3.4	3.9
Mean age, years	72.6	71.9
Race/ethnicity (%)
White	76.3	69.4
Black	10.5	11.4
Other or unknown	1.5	1.6
Asian	2.8	3.5
Hispanic	8.8	13.8
Native American/American Indian	0.2	0.2
Female (%)	57.5	56.4
Dually eligible for Medicaid (%)	15.4	19.3
Basis of Medicare eligibility (%)
Age	88.5	86.1
Disability	11.4	13.8
End-stage renal disease	0.02	0.03
Disability and renal disease	0.05	0.06

SOURCE Authors’ analysis of data from the 2014 Master Beneficiary Summary File. NOTE MA plan star ratings range from 2 to 5 stars.