Mark Farrah Associates June 5, 2023
MCMURRAY, Pa.–(BUSINESS WIRE)–In the latest Healthcare Business Strategy report, Mark Farrah Associates (MFA), www.markfarrah.com, reported Medicare Supplement plans, also known as Medigap or Med Supp plans, covered over 13.7 million seniors as of December 31, 2022. Many leading managed care organizations, Blues plans, regional plans, and multiline carriers compete in the Medicare Supplement space.
“Medicare Supplement Enrollment Down Slightly in 2022”
- Medicare Supplement plans collectively earned approximately $33.9 billion in premiums and paid out $28.3 billion in claims during 2022.
- The aggregate loss ratio (incurred claims as a percent of earned premiums) was 83.6% as of December 2022.
- MFA’s assessment of standardized plan type preferences for 2022 found Plan F, the most comprehensive design, enrolled...
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