CSG Actuarial has compiled information from the NAIC and other sources and is reporting that total earned premiums in the Medicare Supplement market in 2014 totaled $25.7 billion, a 5.8% increase over 2013.

A few other notes of interest:

The total Medicare Supplement lives covered in 2014 increased to almost 11.6 million, up 5.3% from 2013.

The top 5 carriers in terms of 2014 Medicare Supplement premiums were the same as in 2013:

Confined to Nursing FacilityConfined to HospitalBedriddenUse of WheelchairReceiving Home Health
Don't Ask28%28%62%66%62%
Less than a Year31%41%28%34%14%
1-5 Years41%31%10%0%24%
6-10 Years0%0%0%0%0%
10+ Years0%0%0%0%0%

Top 10 carriers with premium growth rates in excess of the overall market average of 5.8% include:

CompanyEffective DateAvg. IncreaseComments
American Retirement Life Insurance Company10/1-11/1/20165.1%0% - 9.6%; Varies by state
Assured Life Association10/1/20163.7%(5.4%) - 7%; Varies by state
Bankers Fidelity Life Insurance Company9/15-10/1/20160.1%
(8%) - 6.3%; Varies by state
BCBS of KS Inc1/1/20172.0%Kansas
Combined Insurance Company of America10/1/2016

2% - 6%; Varies by state
CSI Life Insurance Company11/1/20163.8%Indiana
Gerber Life Insurance Company10/1/20167.5%3% - 10%; Varies by state
Government Personnel Mutual Life Insurance Company9/1-10/1/20167.8%4.5% - 9.9%; Varies by state
Humana Insurance Company11/1/2016-1/1/20173.9%(4.7%) - 9%; Varies by state
Manhattan Life Insurance Company10/1-11/1/20164.6%0% - 6%; Varies by state
Medico Insurance Company10/1/2016
1.4%(7.1%) - 10%; Varies by state
Mutual of Omaha Insurance Company10/1/20164.2%Kansas
Old Surety Life Insurance Company10/1/20166.8%0% - 9%; Varies by state
Omaha Insurance Company10/1/20163.9%0% - 9%; Varies by state
Oxford Life Insurance Company9/1/20167.8%Tennessee
Sentinel Security Life Insurance Company10/1/20167.6%0% - 12.9%; Varies by state
Standard Life and Accident Insurance Company9/15-10/1/20164.2%0% - 9%; Varies by state
Thrivent Financial for Lutherans9/15-10/3/2016-12.0%(21%) - (3%); Varies by state
United Commercial Travelers of America9/1/20165.3%3% - 7%; Varies by state
United of Omaha Life Insurance10/1/20166.0%Montana
Western Catholic Union11/1/20165.0%Missouri

The overall claim loss ratio in the Medicare Supplement market in 2014 was 76.7%, the lowest it has been since 2003.

The top 10 carriers for growth in Medicare Supplement policies in-force between 2013 and 2014 were:

Alzheimer's DiseaseBrain Disorder/SurgeryBrain TumorDepressionMental Disorder
Don't Ask6%61%47%47%40%
1-2 Years6%0%0%0%0%
3-5 Years14%6%20%20%6%
6-10 Years27%27%27%27%27%

Look for more information in June when CSG Actuarial releases its 5th-annual Future of Medicare Supplement Market Projection.

About CSG Actuarial
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