Medicare Insurance Statistics 2024 - Medicare Supplement, Medicare Advantage and Medicare drug plans data and statistics

Medicare Insurance Statistics 2024

Medicare Insurance Statistics 2024Medicare Insurance Statistics 2024 are provided to help seniors make better decisions when selecting a Medicare plan option. Data shown is the most recent and accurate we are able to obtain and provide. Individuals should carefully compare all information before buying and insurance. Get everything in writing as verbal claims or information are not binding.

MEDIA AND WRITERS may use information with credit to the American Association for Medicare Supplement Insurance. Links to this webpage ( https://medicaresupp.org/medicare-insurance-statistics-2024/ ) are appreciated.


For rapid access, click on the links below to jump directly to the data.


Medigap Insurance Companies – Policyholders – Market Share (%)

Company Name Members (Policyholders) 2022 Market Share %
United Health Group 4,372,111 31.7%
Mutual of Omaha Group 1,359,218 9.9%
CVS Group (Aetna) 1,203,716 8.7%
Health Care Service Corporation 565,706 4.1%

See the list of Top-10 Medicare Supplement insurance companies (2022)

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How Many Seniors Have Medicare Supplement (Medigap)

  • 2022 – 13.8 Million
  • 2021 – 12.5 (according to Kaiser Family Foundation) or 2 in 10 (21%) Medicare beneficiaries overall, or 41% of those in traditional Medicare.

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What Medicare Supplement Plan Do Turning-65 Seniors Purchase

In 2023 seniors turning 65 (and purchasing Medicare Supplement) selected the following plans:

  • Plan G – 53.2%
  • Plan N – 39.5%
  • High Deductible (HD) Plan G – 6.3%
  • Plan F and HDF – 1.0%

See more details for the 2023 Medigap Buyer study.  Access the 2022 Medicare Supplement insurance Buyer study.
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2024 Medigap Price Index (Plan G) – Lowest and Highest Prices

MALE Turning 65   Lowest Premium*   Highest Premium*
New York, NY (Zip 10012) $306.00 $526.85
Chicago (Zip 60601) $114.17 $270.76
Houston (Zip 77001) $131.81 $279.57
Phoenix (Zip 85033) $110.14 $458.94

 

FEMALE Turning 65   Lowest Premium*   Highest Premium*
New York, NY (Zip 10012) $306.00 $526.85
Chicago (Zip 60601) $116.30 $235.04
Houston (Zip 77001) $116.67 $254.11
Phoenix (Zip 85033) $ 99.64 $406.51

 

See the 2024 Medicare Supplement Price Index for the top-10 metro markets. Rates do not reflect discounts (household or partner) which can range from $0 to 15%.
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Medigap Policyholder Forecast – Number of Med Supp Policyholders 2024 – 2032

Medigap-Policyholders-Forecast

The number of Medigap policyholders is projected to grow, reaching nearly 17.4 million by 2032.

 

 

 

 

 

 

 

 

 

 

 

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Half of Medicare Eligible Individuals Now Enrolled in Medicare Advantage Plans

33 million individuals now enrolled in Medicare Advantage plans (out of 65.9 million Medicare eligible).

2023 Market Growth +5.4% (1.7 million beneficiaries)

2022 Market Growth +9.4% (2.7 million beneficiaries)

Average senior has access to 44 Medicare Advantage plans (2023)

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Medicare Advantage Plan Enrollment Now Equals Original Medicare Enrollment

  Original Medicare   Medicare Advantage
2019 63% 37%
2020 61% 39%
2021 58% 42%
2022 55% 45%
2023 52% 48%
2024 50% 50%

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States With Highest Medicare Advantage Market Penetration (2024)

Medicare Advantage (MA) market penetration. Top 10 states.

State   MA Penetration
Michigan 61%
Alabama 59%
Minnesota 59%
Rhode Island 59%
Maine 57%
Wisconsin 57%
Connecticut 56%
Florida 56%
Ohio 55%
Oregon 55%
North Carolina 55%

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Medicare IRMAA Surcharge – Number Paying 2024 – 2025 – 2030

Medicare IRMAA Surcharge Statistics Growth

While 7.6 million will pay an IRMAA surcharge for Medicare Part B in 2024, the number is expected to grow to 12.6 million in 2030.

 

 

 

 

 

 

 

 

 

 

 

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Medicare Insurance Statistics You Seek

If there is a particular Medicare insurance statistic that you are looking for, let us know. We’ll do our best to track it down. And, to add it to our resource page for others to view and benefit from.

The American Association for Medicare Supplement Insurance advocates for the importance of educated planning by seniors. Our support comes from independent Medicare insurance agents and brokers. We thank them for their continued support.


Links to Important Resources

Medicare insurance statistics 2022. Data and charts previously reported by the American Association for Medicare Supplement Insurance.

Access the Association’s FIND A MEDICARE BROKER NEAR ME online directory.

Find Best Part D Drug Plan Prices and options.