Most insurers in the Medicare supplement market are expecting sales of Medigap products to grow or hold steady this year.
Gen Re, Stamford, Conn., has announced that finding in a summary of results from a survey of 58% companies that collect about $12 billion in annual Medigap premium revenue and account for about 61% of the Medigap market.
The Patient Protection and Affordable Care Act of 2010 (PPACA) has shaken up the health insurance market, but the act has had less direct immediate effect on Medigap issuers.
Medigap issuers are expressing concerns about PPACA, but 40% of the participating companies expect Medigap sales to be about the same this year as in 2010, and 48% expect sales to be higher, Gen Re says.
- Allison Bell