Despite some recent headwinds, Medicare supplement coverage will continue to be a popular choice amongst beneficiaries for its consistent benefits and lack of provider networks. As the Medicare-eligible population continues to grow, the outlook for the Medicare supplement market continues to be favorable and presents significant opportunities for carriers and reinsurers willing to participate. Medicare supplement also continues to offer ample opportunities for agents and product administrators to capitalize on the opportunity and provide this important coverage to beneficiaries.
There have been recent annual declines in total Medicare supplement policyholders, however, this decline slowed in 2024. As of year-end 2024, the number of in force Medicare supplement policies was over 14.14 million, which was a decrease of approximately 5,000 policies from 2023 year-end. It is anticipated that the market will return to annual growth in 2025 and beyond. This return to growth coincides with the continued increases in the Medicare eligible population as well as uncertainty within the Medicare Advantage market.
