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Some 13.1 million Americans own Medigap insurance. The number of Americans who have Medicare Supplement insurance protection increased according to a report released today by the American Association for Medicare Supplement Insurance.
“In 2016, some 13.1 million Americans had Medicare Supplement insurance also commonly referred to as Medigap coverage,” states Jesse Slome, director of the American Association for Medicare Supplement Insurance (AAMSI). This represents an increase of 7.5 percent from the 12.2 million with coverage in 2015.
“With 10,000 Americans turning 65 every day, the growth of Medigap coverage will continue as more individuals value the choice and options these policies provide,” Slome notes. The Association, which publishes data regarding the Medicare Supplement industry, worked with CSG Actuarial, on the study.
“Enrollment in Medicare Supplement plans has grown significantly over the past five years,” shares Doug Feekin, ASA, MAAA, Principal and Consulting Actuary with CSG Actuarial, headquarter in Omaha, NE. The company is a sponsor and active participant at the upcoming National Medicare Supplement insurance industry conference taking place in Dallas, Texas.
The American Association for Medicare Supplement Insurance is based in Westlake Village (Los Angeles) California. The organization organizes the national conference for the Medigap industry and maintains an online directory of local Medicare Supplement insurance brokers near me. For more information, visit the organization’s website at www.medicaresupp.org or call 818-597-3205.
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According to the most recent data available, it is estimated that around 13 million Americans own Medigap insurance policies.
Medigap, also known as Medicare Supplement Insurance, is a type of private health insurance that helps cover some of the costs not covered by Original Medicare. These costs can include deductibles, copayments, and coinsurance. Medigap policies are sold by private insurance companies and are designed to work alongside Original Medicare.
To determine the number of Americans who own Medigap insurance, we need to consider various sources and data. Unfortunately, there is no single comprehensive source that provides an exact count of Medigap policyholders. However, we can estimate the number based on available information.