Last month CSG Actuarial reported the 4th quarter 2016 Medicare Supplement enrollment results for United Healthcare. We now have updates from other market leaders Aetna, Torchmark, CNO Financial Group, and Humana summarized below.
Aetna Growth Slows in 4th Quarter 2016
Aetna reported growth in the Medicare Supplement market in 4th quarter 2016 that was lower than previous quarters in 2016. For 4th quarter 2016, Aetna reported Medicare Supplement member in-force counts of 685,000, up 18,000 from 3rd quarter 2016 and 119,000 over the past 12 months. The 18,000 increase in membership during 4th quarter 2016 was 44% lower than the membership growth in 4th quarter 2015. The table below shows Aetna’s Medicare Supplement enrollment counts by quarter since 4th quarter 2011 and annual increase in Medicare Supplement enrollment counts by quarter since 4th quarter 2012.
CSG Actuarial projects Aetna’s overall Medicare Supplement sales at 3rd in the overall market in 2016.
Torchmark Reports Medicare Supplement Sales in 4th Quarter 2016
Torchmark reported 4th quarter 2016 Medicare Supplement annualized new sales of $25.6 million, down 35% from 4th quarter 2015. Torchmark’s annualized new business sales for 2016 totaled $61.0 million, down 20% from 2015. Torchmark’s 2016 sales ranked in the top 10 in the overall Medicare Supplement market.
CNO Financial Group Medicare Supplement Sales Down in 2016
CNO Financial Group (parent company of Bankers Life & Casualty, Washington National, and Colonial Penn) reported 4th quarter 2016 Medicare Supplement sales of $23.9 million, down 13% from 4th quarter 2015. For the full year 2016 CNO Financial Group reported Medicare Supplement sales of $72.9 million, down 7% from the 2015 result of $78.4 million. CNO Financial Group also reported 4th quarter 2016 Medicare Supplement earned premiums of $208 million, down $1 million from 3rd quarter 2016 and 4th quarter 2015. Despite the slowing sales, CNO Financial Group’s Medicare Supplement annualized new sales for 2016 continue to rank in the top 10 in the Medicare Supplement market.
Humana Reports Strong Medicare Supplement Growth in 2016
Humana reported 4th quarter 2016 Medicare Supplement lives of 218,800, a 38% increase over 4th quarter 2015. The table below shows Humana’s Medicare Supplement enrollment counts by quarter since 1st quarter 2008 and annual increase in Medicare Supplement enrollment counts by quarter since 1st quarter 2009. Humana also reported 4th quarter 2016 Medicare Supplement premiums of $109 million, up 38% from 4th quarter 2015. Based on estimates from CSG Actuarial, Humana’s sales in 2016 ranked 5th in the overall market.