Each Medicare Advantage (MA) plan has an associated “value added,” defined as the value of benefits provided to a specific plan’s beneficiaries above traditional Medicare that are not funded through member premiums. This report highlights key changes in beneficiary premiums and benefits for the 2018 MA market as well as the reasons for and the magnitude of the decrease in value added within the MA market between 2014 and 2016 and the increases in value added in 2017 and 2018. The report also aims to assist Medicare Advantage organizations in making strategic decisions during 2019 bid preparations.