By Kristin Steenson – CSG Actuarial – May 29, 2018
UPDATE: Last month CSG Actuarial shared information from the NAIC and other sources and reported that total earned premiums in 2017 for the Med Supp market were $31 billion, a 6.6% increase over 2016.
A few other data points of interest:
- There are only eight carriers with more than 100,000 Med Supp lives in 2017 and 5% growth in Medicare Supplement lives for each of 2015, 2016 and 2017: Aetna, Cigna, Humana, American Enterprise, USAA, Torchmark, Physicians Mutual and Manhattan Life Group.
- There are only six carriers (including mergers & acquisitions) with more than 50,000 Medicare Supplement lives in 2006 and average annual growth in Medicare Supplement lives greater than 7.5% for years 2006 to 2017: Mutual of Omaha, Aetna & Genworth, Cigna & Great American, Blue Shield of CA, Transamerica and USAA.
% of Policies by Plan / Incurred Years: 2013-2017
Policies Issued Within 3 Years of Each Incurred Year
States with the highest percentage of Medicare Supplement policies relative to total Medicare lives: Nebraska, Iowa, Wyoming, Kansas and North Dakota.
States with the lowest percentage of Medicare Supplement policies relative to total Medicare lives: Hawaii, Minnesota, New York, New Mexico and Alaska.
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