CSG Market Analytics™, an offering of CSG Actuarial, today reported record highs of earned premiums and in-force policies in 2011 for the Medicare Supplement market. Total Medicare Supplement earned premiums in 2011 were $21.9 billion, a 5% increase over 2010 and total Medicare Supplement in-force policies in 2011 were 10.1 million, a 2% increase over 2010.
The top 5 companies in the market based on 2011 earned premiums were United Healthcare, Mutual of Omaha, Wellpoint, HCSC, and CNO Financial. These companies reported more than $12.6 billion of Medicare Supplement premiums in 2011, a 7% increase over 2010 and representing almost 58% of the total market.
The chart below shows the historical Medicare Supplement earned premiums from 1990-2011. Medicare Supplement earned premiums have increased approximately 4% per year over that time frame, fueled primarily by the growth in Medicare eligibles.
Source: CSG Actuarial projection using data from NAIC and other sources.
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