CSG Actuarial has compiled information from the NAIC and other sources and is reporting that total earned premiums in the Medicare Supplement market in 2017 totaled $31.0 billion, a 6.6% increase over 2016.
A few other notes of interest:
The total Medicare Supplement lives covered in 2017 increased to 13.6 million, up 3.5% from 2016.
The top 12 carriers in terms of 2017 Medicare Supplement premiums were:
- Mutual of Omaha
- CNO Financial
- BCBS of Michigan
- BCBS of Massachusetts
- BCBS of Florida
Overall premiums in the market have grown from $22.1 billion in 2011 to $31.0 billion in 2017, an average annual increase of 5.8% per year over that time period. The average growth rate over that time period for the market leaders listed above is shown in the graph below:
Look for more information this summer when CSG Actuarial releases its 8th Annual Future of Medicare Supplement Market Projection.