Prior to 2019, Minnesota’s MA penetration rate was consistently the highest in the nation with penetration consistently in the mid to upper 50%’s. Since 2019, Medicare supplement enrollment has seen a significant increase in the state. The MA penetration rate is still among the highest in the nation but has dropped to around 44% according to the September 2020 CMS files.
|Minnesota Covered Medicare Supplement Lives||236,641||118,594||113,099|
Source: NAIC Medicare supplement Experience Exhibit
Historically, the high MA penetration was due to the popularity of Medicare Cost plans. For those that operate in the Minnesota Medicare market, you lived through the Medicare Cost plan disruption during the AEP heading into January 1, 2019. This event led to the increase in Medicare supplement enrollment and as a result, Medicare supplement is now likely a more important part of your portfolio.
CSG’s MarketEdge tool is a great way assess, analyze, and understand the opportunity in your local market. The tool allows you to isolate to the 3- or 5-digit zip code level the number of quotes being run on our tools, the turning 65 and over 65 population and enrollment figures. The tool is a great way to highlight opportunities to grow your business. Interested? Contact us at 855.861.8776 or email email@example.com