CSG Actuarial has compiled information from the NAIC* and other sources and is reporting that total earned premiums in the Medicare Supplement market in 2021 totaled $35.6 billion, a 1.7% increase over 2020.

A few other notes of interest: The total Medicare Supplement lives covered in 2021 decreased slightly to 14.45 million.  CSG Actuarial believes this decrease was due to increased competitive pressures from Medicare Advantage plans and a decrease in the overall Medicare growth rate due to Covid deaths in 2020 and 2021.

The top 12 carriers in terms of 2021 Medicare Supplement premiums were:

1United Healthcare
2Mutual of Omaha
4CVS Group
5HCSC Group
8CNO Financial
9BS of California
10BCBS of Massachusetts
12BCBS of Minnesota

The 2021 overall Medicare Supplement market loss ratio of 77.4% was higher than the 2020 loss ratio due to a rebound in utilization of non-Covid medical care.

Medicare Loss Ratio

14 of the top 20 Medicare Supplement carriers reported a decrease in in-force Medicare Supplement lives in 2021, as shown below.

Medicare Lives

*Data Source: National Association of Insurance Commissioners, by permission. The NAIC does not endorse any analysis or conclusions based upon the use of its data.