Top Medigap Insurers 2024
February 12, 2024 – AAMSI reports top Medigap insurers 2024 data. The top-1o Medicare Supplement (Medigap) insurance companies are dominated by companies including UnitedHealthcare, Mutual of Omaha and CVS (Aetna). The 10 largest players, based on policyholders (members) comprise 66% of the Medicare Supplement insurance market.
The following are the top-10 Medigap insurers. Data compiled by the American Association for Medicare Supplement Insurance and KLC Actuarial. Data for Calendar year 2022.
- United Health Group
- Mutual of Omaha Group
- CVS Group
- Health Care Service Corporation
- Cigna Health Group
- Humana
- Blue Cross Blue Shield of Massachusetts
- CNO Financial Group
- Wellmark
- Blue Cross Blue Shield of Florida
The data is based on total policies including both individual and group Medicare Sipplement insurance.
Top Medigap Insurers 2024 Data – Top 10 Comprise 66% Of The Market
The chart above reports the number of members or policyholders for each company. United Health Group (UnitedHealthcare – AARP) has over 4.3 million Medigap policyholders. Followed next by Mutual of Omaha Group with 1.3 million. The company names reflect the fact that companies may file Medigap insurance products using different company names in various states. This data is reflected in reports from the NAIC (National Association of Insurance Commissioners).
The top-10 Medigap insurers accounted for 9.1 million policyholders in 2022.
Are Largest Medicare Supplement Insurers The Best For Seniors?
When it comes to Medicare Supplement (Medigap) insurance, size can have benefits. But in general Medigap policies are virtually identical. In other words a Medigap Plan G from one insurer is going to be identical to a Plan G offered by another insurer. That is in terms of what is covered.
What is not the same is price. And available discounts. Plus, perhaps, some added benefits like free gym or health club memberships. The Association’s 2024 Medigap Price Index Plan G shows the lowest and highest cost for Plan G coverage in 10 major metro areas.
The study found that NO insurance carrier offering the lowest price ALWAYS had the lowest. A company that offered the lowest cost in one market, may have been one of the most expensive in another market.
Comparing costs is vital if you are purchasing Medigap.
Other Valuable Links for Seniors Seeking Medicare Information
Find local Medicare insurance brokers near me. Use the Association’s free online directory that provides a listing of Medicare insurance agents by Zip Code. No personal information is needed to view the listing. Only your Zip Code.
Compare and find the best Medicare drug plan for your Zip Code. Read tips on saving money. Plus discover valuable ways to get the best Medicare drug plan coverage.