The Medicare program continues to offer sustainable, long-term growth and opportunities. Over the next ten years it is expected that 40.6 million individuals will turn age 65 and that the Medicare-eligible population will grow from 65.0 million beneficiaries to 78.7 million beneficiaries. This means that over 13.7 million more individuals will be added to the Medicare program over the next 10 years, a 21% increase. Beyond 2032, an additional 4.7 million are projected to be added by 2040.
While Telos Actuarial research indicates a slight decrease in Medicare Supplement enrollments in 2023, it is anticipated that enrollments will return to growth in 2024 and a growth rate in 2025 and beyond that exceeds the Medicare enrollment growth rate, creating robust opportunities for insurance carriers, reinsurers, agents, and marketing organizations in the Medicare Supplement market.
The Medicare program continues to offer sustainable, long-term growth and opportunities. Over the next ten years it is expected that 40.6 million individuals will turn age 65 and that the Medicare-eligible population will grow from 65.0 million beneficiaries to 78.7 million beneficiaries. This means that over 13.7 million more individuals will be added to the Medicare program over the next 10 years, a 21% increase. Beyond 2032, an additional 4.7 million are projected to be added by 2040.
While Telos Actuarial research indicates a slight decrease in Medicare Supplement enrollments in 2023, it is anticipated that enrollments will return to growth in 2024 and a growth rate in 2025 and beyond that exceeds the Medicare enrollment growth rate, creating robust opportunities for insurance carriers, reinsurers, agents, and marketing organizations in the Medicare Supplement market.