Medicare Supplement Market - 2012
If you are following our blog you know that Medicare Insurance Finders specializes in Medicare Supplemental Insurance. We provide consumers and agents with tools to help compare Medicare Supplement Plans all over the country with over 25 carriers. This article will be going over our 2012 Medicare Supplement Market Update, with the help of CSG Actuarial. In 2012, we built a state of the art quote engine that allows Medicare Supplement Rates to be pulled in less than 2 minutes. Click Here to Get Rates. One of the companies we partnered with was CSG Actuarial.
They are an actuarial company that handles services for a lot of Medicare Supplement companies and are able to dig into the nuts and bolts of these companies in a more thorough manner. Each year they compose a Medicare Supplement Market update and we put it into words that are easily understood by consumers who do not deal with insurance terms on a daily basis.Medicare Supplement Market - Sales
- Sales for Medigap plans will be over 3 billion for 2012 (9% increase over 2011)
- Eight companies will have over $50 million in premium written in 2012 (United Healthcare, Aetna and Mutual of Omaha are the leaders)
- Comparing Rates for Consumers has never been as easy - Click Here
- Claims were down in 2012 (partially contributed to the reduction in the 2012 Part B deductible)
- Profits where higher than normal due to lower claims and higher sales
- Baby Boomer Growth is also increasing the number of new business and healthier business
- Aetna used its acquisition of Genworth's Medicare Supplement block of business to increase sales. This was through the purchase of American Continental and Continental Life.
- Cigna also used this method through the purchase of Great American's Medicare Supplement business. This composed of Loyal American, Provident American, United Teachers Insurance Companies.
- AFLAC has also intered the Medicare Supplement Market writing plans all over the country.
This report will show you that the Medicare Supplement Market is continuing to grow and will be a strong presence over the years to come.