Thursday, May 26, 2022

Medicare Supplement Enrollment Trends and Plan Performance Insights

Medicare Supplement products (also known as Medigap) continue to remain a viable and stable alternative to Medicare Advantage options for seniors looking to offset the out-of-pocket costs of traditional Medicare coverage. In 2021, Medicare Supplement carriers experienced consistent total membership, with more and more seniors aging into and choosing retirement. Based on performance data filed in annual financial statements enrollment in Medicare Supplement plans was 13.928 million. When factoring in a small number of plans with just 23,721 members that had not yet filed when this analysis was conducted, year-over-year enrollment growth remained relatively flat. This brief provides an overview of the Medicare Supplement market with insights about competitive positioning and standardized plan type preferences.


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