CSG Actuarial has compiled information from the NAIC and other sources and is reporting that the total earned premiums in the Medicare Supplement market in 2012 totaled $23.1 billion, a 5% increase over 2011.
A few other notes of interest:
• The 2012 earned premiums for the top 5 carriers (United Healthcare, Mutual of Omaha, Wellpoint, HCSC, and CNO Financial) made up almost 60% of the total market.
• The total Medicare Supplement lives covered in 2012 increased to 10.5 million, up 3% from 2011.
• The overall claim loss ratio in the Medicare Supplement market in 2012 was 78.3%, the lowest it has been since 2003, and 10 of the top 12 carriers experienced lower claim loss ratios in 2012 than in 2011. As CSG Actuarial first reported back in December, Medicare and Medicare Supplement plans experienced lower claim trends in 2012 and our actuarial analysis indicates that those lower claim trends were a primary driver of the lower loss ratios.
Look for more information in May when CSG Actuarial releases its 3rd Annual Future of Medicare Supplement Market Projection.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
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