Gen Re Releases U.S. Medicare Supplement Market Survey Results

PORTLAND, Maine–()–Gen Re has released the results of this year’s U.S. Medicare Supplement Market Survey, its annual industry benchmarking survey covering in-force business, new sales, performance, claims trends, lapse rates, and rate filings for the U.S. market in 2021. Ninety-two companies are represented in the report, including those with open and/or closed blocks of business, with 53% of the companies managing both. Excluding Blue Cross Blue Shield companies, it is estimated that the survey includes 89% of the Medicare Supplement market.

Key highlights from this annual benchmark report include:

  • Participants reported $13 billion in total Medicare Supplement in-force premium for 2021,

    an increase of almost 3% over reported results for 2020.
  • Half of the companies with open blocks (15 of 30) and 84% with closed blocks (31 of 37) reported a positive profit margin for 2021.
  • Lapse rates, including mortality, averaged 11% for open blocks of business and 17% for closed blocks in 2021. When excluding mortality, lapse rates averaged 10% and 12%, respectively.
  • Plan G was the most popular plan sold in 2021, accounting for 66% of both new sales premium and new lives covered.
  • 90% of the participating companies sell Medicare Supplement plans through independent agents, and 57% sell on a direct-to-consumer basis (via phone, mail, online, or a combination of these methods without the involvement of a traditional agent receiving compensation). The percentage of sales premium from those two distribution channels averaged 83% and 29%, respectively.

The Market Survey is an annual benchmark survey produced by Gen Re, with the full results available only to participating companies. A summary report is available online at

About Gen Re

Gen Re, a Berkshire Hathaway Company, is one of the leading Life/Health and Property/Casualty reinsurers in the world. Our North American Life/Health reinsurance company, General Re Life Corporation, has superior financial strength ratings among Life and Health reinsurers. Gen Re delivers customized reinsurance programs and risk management solutions for the Life, Disability, Medicare Supplement, and Critical Illness markets. Through our research, we also offer valuable information

and insights.

Read More: Gen Re Releases U.S. Medicare Supplement Market Survey Results

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