Recent analysis from CSG Actuarial indicates Fall 2012 Medicare Supplement premium rate increases (to date) have been 20% lower than Medicare Supplement premium rate increases during the corresponding time period a year ago. We attribute these lower premium rate increases to improved Medicare Supplement claims experience throughout 2012, driven by less guarantee issue business written during 4th qtr 2011 and lower Medicare cost trends in 2012.
The Medicare Supplement market continues to expand. As previously reported, CSG Actuarial is projecting more than $23 billion of premium in the Medicare Supplement market in 2012, up 5% from 2011. Also, more than 5 companies have entered or re-entered the Medicare Supplement market in 2012 and 3 other companies have re-priced their premium rates to get more competitive in the market.
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