After analyzing 2012 data released by the NAIC, CSG’s team of actuaries have uncovered the following:
- Plan F continues to be the most popular plan with over 60% of the lives from currently marketed plans.
- The percentage of Medicare Supplement lives with Plan A has declined from 5% in 2006 to 2% in 2011.
- The top 5 states for 2012 Medicare Supplement sales were California, Illinois, Florida, Texas, and Pennsylvania.
- In Florida, United Healthcare has over 60% of the Medicare Supplement lives in 2012 that were issued in 2010, 2011, or 2012.
- The average premiums in the Medicare Supplement market increased 1.2% in 2012, down from a 2.1% increase in 2011 and continuing the downward trend since 2008.
- For Plan F, the average claim per policy for policies not issued in the last three years dropped 2.6% from 2011 to 2012.
- Every single state had a Medicare Supplement claim loss ratio over 70% in 2012.
- The overall Medicare Supplement market share of the top 5 companies has increased from 48% in 2006 to 57% in 2012.
Look for more information in May when CSG Actuarial releases its 3rd Annual Future of Medicare Supplement Market Projection.Source: 2012 Market Data Source: 2012 NAIC Medicare Supplement Experience Exhibits and data filed with the National Association of Insurance Commissioners in annual financial statements. About CSG Actuarial
CSG monitors senior markets to provide the most up-to-date competitive intelligence in the industry. CSG DataMart™ includes premium rate and underwriting information for more than 200 companies. Call 855-861-8776 or email email@example.com to learn more.