Medicare Supplement Enrollment Slightly Up in 2025
June 8, 2026
Medicare Supplement (Med Supp) products, also known as Medigap, are a traditional option for seniors looking to offset the out-of-pocket costs of original Medicare coverage. Based on performance data filed in annual financial statements from the NAIC (National Association of Insurance Commissioners), enrollment for Med Supp plans was over 13.8 million in 2025, representing a year-over-year enrollment increase of 2%. This brief provides an overview of the Med Supp market with insights into standardized plan type preferences and competitive positioning.
Mark Farrah Associates (MFA) identified 177 distinct carriers that filed Med Supp annual data with the NAIC, as of December 31, 2025, down from 183 in 2021. Breakdowns of in-force policies show that carriers issued policies to nearly 4.3 million members in the last three years, up 13.8% from similar data in 2024. Carriers reported an aggregate of nearly 9.6 million members covered by in-force older policies that had been issued prior to 2023.
Among standardized Plans A-N, Plan G remained the most popular plan type in 2025. Plan G, covering more out-of-pocket costs than the other available plan types, continued to show year-over-year enrollment increases. On December 31, 2025, approximately 6.3 million members were enrolled in Plan G, up from 5.7 million in 2024. While Plan F covers the annual Medicare Part B deductible and has the most comprehensive benefits, on January 1, 2020, Plan F (and Plan C) ceased to be an option for newly eligible Medicare enrollees. Approximately 4.2 million Med Supp members were enrolled in Plan F and continued to account for over a third of the market in 2025.
Note: Plan type “P” (Pre-Standard) is used for policies issued prior to the enactment of the Omnibus Reconciliation Act (OBRA) of 1990, which standardized benefits for Med Supp plan types. Plan type “O” or “Other” is used by carriers in a few states including Massachusetts, Minnesota, and Wisconsin that receive waivers to the standardized Med Supp regulations.
Med Supp plans collectively earned $40.4 billion in premiums and incurred $34.5 billion in claims during 2025. The aggregate loss ratio (incurred claims as a percent of earned premiums) was 85.5% in 2025, an increase from 84.4% in 2024 and 83.9% in 2023. This indicates that medical claims are continuing to increase faster than premiums are changing.
As of December 31, 2025, the top ten Med Supp companies comprised 71% of the market with over 9.8 million members. UnitedHealth, with its longstanding contract with AARP, continued to lead in this segment with 4.27 million members, and covers 31% of the market. Mutual of Omaha ranked second with 9.4% market share and 1.3 million members. HCSC was the third largest Medigap plan in 2025, with over 1.2 million enrolled. CVS ranked fourth with 953,000 members. Amongst the segment leaders, CVS experienced the largest year-over-year membership decline, with a loss of approximately 96,600 covered lives, while HCSC added 646,000 more people, due to its acquisition of Cigna’s Medicare business.
With nearly 70 million Medicare beneficiaries residing in the U.S., Med Supp insurers continue to offer an alternative to original Medicare and Medicare Advantage products for this growing marketplace. Mark Farrah Associates will continue to monitor enrollment and plan performance in this competitive segment.
About Med Supp Market Data
Med Supp Market Data, a subscription option through Mark Farrah Associates’ Health Coverage Portal™, presents the latest market share and financial performance data for Med Supp plans. The product includes state-by-state membership, premiums, claims, and loss ratios for plans nationwide. MFA’s new user interface allows for better period-to-period analyses and multistate comparisons with enhanced filtering capabilities. Online tables also include claims contacts as reported in the financial statements filed with the National Association of Insurance Commissioners (NAIC). California managed care plans do not file financial statements with the NAIC and are not included in this analysis. For more information about Med Supp Market Data, please visit our website or call 724-338-4100.
About Mark Farrah Associates (MFA)
Mark Farrah Associates (MFA) is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. Our product portfolio includes Health Coverage Portal™, County Health Coverage™, 5500 Employer Health plus, Medicare Supplement Data, Medicare Business Online™, Medicare Benefits Analyzer™, ASO Employer Health PLUS and Health Plans USA™. For more information about these products, refer to the informational videos and brochures available under the Our Products section of the website or call 724-338-4100.
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