Medicare Supplement Inforce By State and Company
As noted in last week’s post, the total Medicare Supplement inforce lives as of year-end 2021 was 14.44 million.
The following table shows the total in force lives and Medicare beneficiary counts for the 14 largest Medicare Supplement states. Medicare Supplement penetration rates vary from a low of 13% in New York to a high of 34% in Illinois.
In addition to providing data on inforce lives by state, the NAIC data also includes information by the issuing entity. This information can also be rolled-up to show results by parent company. The next table shows the reported total inforce lives by parent company and the company’s Medicare Supplement market share.
The final dataset provides a look at the companies that reported the largest number of New Business lives. Within this reporting, New Business is defined as policies that were issued within the last three years (2019, 2020 and 2021). This company listing closely follows the Total Lives data but introduces a handful of new carriers.
Also included in the data are the top states that were included in each Company’s data. There were nine states that were included in more than two Company’s Top State listing: TX, PA, FL, CA, IL, NC, NJ, NY and OR. All but one of these states was included in the listing of the top 14 Medicare Supplement states.
Next week we will be taking a look at Medicare Supplement loss ratios and mix of business by plan.
Source data: National Association of Insurance Commissioners, by permission. The NAIC does not endorse any analysis or conclusions based upon the use of its data.
