CSG Actuarial has compiled information from the NAIC* and other sources and is reporting that total earned premiums in the Medicare Supplement market in 2020 totaled $35.1 billion, a 3.2% increase over 2019.

A few other notes of interest:

The total Medicare Supplement lives covered in 2020 increased to 14.53 million, up 0.4% from 2019.

The top 12 carriers in terms of 2020 Medicare Supplement premiums were:

1     United Healthcare

2     Mutual of Omaha

3     Anthem

4     CVS Health

5     HCSC

6     Cigna

7     CNO Financial

8     Humana

9     BCBS of Massachusetts

10   BS of California

11   Wellmark

12   BCBS of Minnesota

The 2020 overall Medicare Supplement market loss ratio of 72.4% was significantly lower than historical trends due to decreased utilization for non-Covid medical care.

MS Ratio

The top 12 carriers combined reported growth in Medicare Supplement lives of almost 1.5% in 2020, however, seven of the 12 reported a decrease, as shown below.

MS Ratio 2

*Data Source: National Association of Insurance Commissioners, by permission. The NAIC does not endorse any analysis or conclusions based upon the use of its data.