Medicare Supplement Market Premium Grows 4.9% to $32.4 Billion
CSG Actuarial has compiled information from the NAIC and other sources and is reporting that total earned premiums in the Medicare Supplement market in 2018 totaled $32.4 billion, a 4.9% increase over 2017.
A few other notes of interest:
The total Medicare Supplement lives covered in 2018 increased to 14.05 million, up 3.9% from 2017.
The top 12 carriers in terms of 2018 Medicare Supplement premiums were:
1 United Healthcare
2 Mutual of Omaha
5 CVS Health
7 CNO Financial
8 BCBS of Massachusetts
11 BCBS of Michigan
12 BCBS of Florida
The 2018 overall Medicare Supplement market loss ratio of 79.0% reflects a continued trend in the market of the overall loss ratios creeping back up towards “Pre-Modernized” levels of around 80%.
Look for more information this summer when CSG Actuarial releases its 9th Annual Future of Medicare Supplement Market Projection.