Medicare Supplement Enrollment Continues to Grow

Medicare supplement enrollment continues to grow,
according to marketplacemedicare supplement enrollment data released in 2014 by Mark Farrah Associates. The study found an increase in number of Medicare supplement policies from 10.2 million to 10.5 from 2012 to 2013,  an overall increase of 3.8%. These figures also represent a notable growth in new policies. This entails policies that are issued in the last three years, and this growth is measured at 1.3% from 2012 to 2013.

Most project these study results are a result of two distinct trends in the Medicare marketplace. One, they represent the increasing numbers of Medicare eligible individuals as Baby Boomers turn 65 at a clip of 11,000 per day. Secondly, most suspect these numbers reflect a move away from other coverage types, both by choice and necessity, as there are fewer Medicare advantage plan options and more employers are reducing or eliminating coverage for retirees. Overall, the last five years have seen an overall growth in the Medicare market of over 11% in number of issued policies.

The study also found that Plan F was purchased by 52% of people purchasing Medigap plans, a large number when you consider that plan F is not always the best “deal”. These numbers, I believe, also are affected by the fact that several of the larger Medigap insurers “push” plan F as their primary option. Plan G and Plan N did also grow, according to the study, in number of Medigap enrollees. Early evidence suggests that, once 2014 data is available, we will see a leveling off of Plan F enrollments and an uptick in enrollments in Plans G and N.

So, how does all this information affect you? One, it is important to know what the marketplace looks like if you are a participant in the marketplace (i.e. a Medigap policyholder). Also, it gives you an idea of how your choices compare to what the market as a whole is doing.

If you have questions at any time about your plan, your options, or anything else regarding Medicare, please do not hesitate to contact me at 877. 506. 3378 or on our website.

About Garrett Ball

"We discovered Garrett Ball online. Over the years he has saved us thousands of dollars in premiums for both Supplemental Part B and Part D drug policies with his cost comparisons and advice. He is uniquely prompt in responding to our e-mail inquiries and very professional in all areas. Highly recommended for all Medicare needs." - Ron T, IN
" I am so happy to review this company and Garrett Ball, the President. He has helped me through the confusing maze of Medicare, Supplements, and Advantage plans and the plans I am on now have been outstanding. Do not hesitate to contact Garrett Ball. You will not be disappointed. Response time is within 24 hrs., and always with thorough information to help his customers. Even when I have not contacted him for many months, he seems to remember and respond like it was yesterday. Great customer service seems to be hard to find these days, that is why I am so impressed with Secure Medicare Solutions. You will truly find a solution to any of your questions or problems." - Sandy W, SC/FL
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