The number of Americans with Medicare Supplement insurance is expected to grow slightly in 2022 according to the American Association for Medicare Supplement Insurance.
"The data and the best minds in the industry look for nominal growth in 2022," states Jesse Slome, director of the Medicare advocacy organization. "We expect the number of policies will total 14.6 million, about 100,000 more than each of the prior two years."
In citing data for the prediction, the Association director acknowledged CSG Actuarial, leading experts, for Medicare market analysis. "Clearly the growth trend is stronger for Medicare Advantage (MA) plans," Slome acknowledged. The Association recently reported that some 26 million MA plans would exist in 2022.
"It's hard to compete when television broadcast after broadcast features a celebrity spokesperson touting zero-premium Medicare coverage with all these extra no-cost benefits," Slome adds. "I give a lot of credit to the legion of insurance agents who are out there working to educating consumers about the pros and cons of the different Medicare options. Free is not always free."
The Association director shared that the number of individuals with Medigap coverage has grown steadily over the past decade. "On 2010 some 9.7 million policies were in force," he notes. "The numbers started to level off around 2018."
"There are indeed reasons to consider Medigap and reasons for dedicated insurance agents to offer it to consumers," Slome concludes. "You can counter celebrity spokespeople if you share benefits and meaningful information. That's why we gather and offer relevant data." Medicare insurance statistics can be accessed via the Association's website at www.medicaresupp.org/facts-2022.
The American Association for Medicare Supplement Insurance (AAMSI) advocates for the importance of educated planning. AAMSI supports insurance professionals who market Medicare insurance solutions.
To access a national online directory listing local Medicare Insurance agents go to www.medicaresupp.org/find-local-agent/. There is no cost to access the directory.
Jesse Slome is director of the American Association for Long-Term Care Insurance. He also directs the American Association for Critical Illness Insurance and the American Association for Medicare Supplement Insurance. To find local Medicare insurance brokers utilize the organization's free online directory.