Medicare Advantage has gotten lots of attention as the industry has grown to cover more than 50% of all Medicare beneficiaries. But the Medicare Supplement market is still thriving. It represents a mature, competitive insurance market where it is difficult to grow and even more difficult to achieve profitability. Reinsurance solutions can play a role in helping actuaries manage closed blocks of business, shore up profitability issues, and access capital to support insurance companies operating in this market. This session provides an overview of the current state of the market from both the direct writer and reinsurer's perspective: What is working, where the market opportunities are, and the role actuaries can and are playing in the Medicare Supplement marketplace.
Included:
Basic overview of the Medicare Supplement retail marketplace from the direct writer's and reinsurance perspectives, including market shares, financial performance, etc.
Present strategies for maintaining and improving profitability (e.g., distribution, underwriting)
Discussion about where the market may be headed based on MedPAC projections and how this may impact the future Medicare Supplement marketplace.