Here is what you’ll find in this week’s newsletter!

1. Important links 🔗 - the best articles we found this week about the Medicare Market along with links to Jared’s recent LinkedIn posts.

2. Deep Dive 📚 - Medigap Market Updates - June 2025

3. Sponsor Snapshot 🚀 - brought to you by Medicare Market Insights +

4. Compliance Chatter 📢 - Sign up for Insurance Regulatory Insights.

It’s only a 5 minute read, but it will make you 10x smarter.

DEEP DIVE 📚

Medigap Market Updates - June 2025

June 2025 Medigap Market Updates - Your Source for the Latest Medigap Data and Information

This week’s deep dive is an update to our Medigap Market Update and will cover recent happenings in the Medicare Supplement Insurance market. 

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New Products

1. Chubb has continued filing new Med Supp plans under its “Insurance Company of North America” charter.  The filings contain Plans A, F, G, HDG and N and will include a 7% household discount.

2. No other companies have initiated new multi-state product filings

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Rate Increases

1. 2025 rate filings continue to show approved increases that are 2.5% - 3.0% higher than previous years.

2. The following chart shows the average rate increases on open Medigap blocks for Plans F, G, and N over the past four years.

3. Double digit increases are already more common in 2025 than in previous years.  This table shows the frequency of Plan G rate increases by different levels of increase.

4. Additional information is available here. 

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Updated Market Experience

Back in April we provided early estimates of where we thought the 2024 Med Supp market landed. We’ve got updated data now and the results below reflect the updated data reported to the NAIC in the Medicare Supplement Insurance Experience Exhibit.

1. Earned Premium was up from $35.3 billion in 2023 to $37.6 billion in 2024

2. Incurred Claims increased from $29.6 billion in 2023 to $31.7 billion in 2024

3. After steady increases from 2021-2023, the 2024 loss ratios increased just 0.6% to 84.5%. While this is higher than the historical long-term average of 80%, the flattening of the loss ratio trajectory will be welcome news to the market.

4. The following table shows the reported loss ratios for each of the six largest carriers and all Other carriers the market.

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Regulatory Updates

1. Wyoming recently updated their regulations to introduce a new Birthday Rule enrollment window. This new rule has an effective date of June 1, 2025.

2. We are also watching progress on proposed regulations in the following states:

   Under 65/Disability/ESRD

   → California

   → Georgia

   → Illinois

   → Iowa

   → Ohio

   → Rhode Island

   → Texas

   Open Enrollment Periods

   → California

   → Vermont

   → Washington

   Birthday Rule Guaranteed Issue

   → Iowa

   → Indiana

   → Nebraska

   → New Mexico

   → Wisconsin

For more detailed information on Regulatory changes, you can check out our Insurance Regulatory Insights newsletter.

That is all for this deep dive into the Medicare Supplement market. 

If you’re ready, here are some ways we can help you:

• Newsletter Sponsorship opportunities: Promote your product or services to leaders in the Medicare space. Let’s discuss. (link)

• Market Research: Reports that help you wrap your arms around the Senior focused insurance markets. (link)

• Consulting: We can help you develop new insurance products for the Medicare market, appraise your books of business, and keep you compliant. Let’s discuss. (link)