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Here is what you’ll find in this week’s newsletter!
Important links 🔗 - the best articles we found this week about the Medicare Market along with links to Jared’s recent LinkedIn posts.
Deep Dive 📚 - Medigap Market Updates: March 2026
Sponsor Snapshot 🚀 - brought to you by Modivcare Monitoring
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Here are IMPORTANT LINKS 🔗 for the week:
Payers, hospitals pan CMS' plan to bring non-network plans to ACA exchanges - (link)
Sales of Medicare Advantage Plans by Insurance Consultants (from NE DOI) - (link)
Federal Healthcare Costs on Track to Reach $3.1 Trillion by 2036 - (link)
New law expands Medicare coverage for multi-cancer screening tests - (link)
Automatic enrollment in Medicare Advantage plans under consideration, top Trump health official says - (link)
TN bill targeting pharmacy benefit managers could threaten closure of 100+ CVS stores in the state - (link)
Medicare Supplement - Trend Components - (link)
Ancillary Product Essentials Guides - (link)
Medicare Supplement Refunds 101 - (link)
Jared’s recent LinkedIn posts:
DEEP DIVE 📚
Medigap Market Updates: March 2026
This week’s deep dive will cover New Products, Market Experience, Rate Increases and Regulatory updates in the Medicare Supplement Insurance market.
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New Products
→ Lumos Insurance has begun filing a new product under its “Plateau Insurance Company” charter. The filings contain Plans A, F, G, HDG and N and will include a 7% household discount.
→ No other companies initiated new multi-state product filings during Q1.
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Market Experience
→ Companies are required to report their Medigap experience as part of the annual statement process. An early look at the data is showing:
Earned Premium increased from $37.6 billion in 2024 to $39.9 billion in 2025
Incurred Claims increased from $31.7 billion in 2024 to $34.1 billion in 2025
→ The following chart shows the reported loss ratios for the largest carrier groups in the Medigap market today: United Healthcare (“UHC”), Mutual of Omaha (“MoO”), CVS/Aetna, Humana and the Blues (“BCBS”). All other carriers were combined and are shown as “All Others.” The reported loss ratio for the entire market in 2025 was 85.6%.
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Rate Increases
→ Final analysis of 2025 open block rate increase filings showed approved increases that were 2.5% - 3.5% higher than those approved in 2024 for most plans.
The exception is on High-Deductible Plan G where experience continues to be favorable, and carriers are pursuing lower rate actions.
→ The following chart shows the average rate increases on open Medigap blocks for Plans F, G, N and HDG over the past three years.
→ Early results for 2026 are showing more higher-than-medical-trend rate increases as carriers are attempting to manage their loss ratios back towards pricing targets.
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Regulatory Updates
→ No new Medigap specific regulations have been passed so far during Q1 that have material impact on carriers.
→ Several bills have been proposed to add coverage for disabled beneficiaries and/or expand open enrollment/guaranteed issue opportunities.
For more detailed information on Regulatory changes, you can subscribe to our Insurance Regulatory Insights newsletter.
That is all for this Medicare Supplement market update!
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What MMI + Subscribers read this week…
March ‘26 MA/MAPD and PDP enrollment data - March enrollment data has been loaded. Here are a few observations. (link)
Humana’s NTM Commission Change - Estimating the impact of prorated New-to-Medicare commissions on carrier expense and distributor LTV. (link)
Insurance Regulatory Insights March 2026 - Movement 👟on Med Supp and Dental Legislation (link)
👉 AEP 2026 Medicare Advantage State Deep Dives - Now Available!
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