The ‘red states’ in this map are home to many consumers who have only original Medicare coverage, not soup-to-nuts Medicare Advantage plans. (Credit: CMS)
Health insurers may have been better at holding on to longtime Medicare supplement (Medigap) insurance users in 2019 than at attracting new users.
Analysts at Mark Farrah Associates have raised that possibility in a new look at the annual statements insurers file with state insurance regulators.
The total number of people with Medigap coverage increased to 14 million at the end of 2019, up 3.3% from the total recorded a year earlier.
The number of Medigap users who had owned their policies for at least three years, increased 5%, to 8.7 million.
The number with newer Medigap policies increased just 0.6%, to 5.3 million.
- A copy of the new Mark Farrah Associates report is available here.
- An earlier article about Mark Farrah Associates Medigap market data is available here.
Medicare provides health coverage for people over 65, many people who are getting Social Security Disability Insurance benefits, and people with severe kidney failure.
The original Medicare program was designed before today’s comprehensive managed care plans came to life. The original Medicare program gives enrollees the ability to see any providers who take Medicare coverage, but it requires patients to pay deductibles, co-payments and coinsurance amounts, and it puts no caps on the enrollees’ out-of-pocket costs.