THE TOP FIVE MGAs OFERRING MEDICARE, BY MARKET SHARE: MGA INSURANCE INFORMATION

THE TOP FIVE MGAs OFERRING MEDICARE, BY MARKET SHARE: MGA INSURANCE INFORMATION

The top five MGAs offering Medicare, by market share, are UnitedHealthCare, Humana, CVS, Kaiser Permanente, and Anthem. They all have a network of MGAs offering Medicare products. Whatever possible, we have identified the range of products within each category offered under Medicare. However, in a couple of instances, this was not possible, in which case, the product categories only have been provided. In some instances, even after an extensive search of the insurers’ website, there was very little information regarding the MGA status of the company and its network. In these circumstances, third party sources have been relied on.

1. UnitedHealthcare

  • UnitedHealthCare commands a 25.7% share of the Medicare market. Between 2019 and 2020, the growth experienced by UnitedHealthCare was 8.7%. As at March 2020, UnitedHealthCare had 6,351,706 members.
  • All UnitedHealthcare agency entities have the opportunity to become MGA Agents.
  • The portfolio of UnitedHealthcare Medicare MGAs and the geographical areas they cover are as follows:
    • Medicare Advantage provides Medicare to over 3.5 million members in 44 states and the District of Columbia;
    • Prescription Drug Plans are offered in all 50 states, the District of Columbia, and five US territories. These plans are provided to 4.9 million members; and
    • Medicare Supplement Plans are provided to 4.3 million members in 50 states, the District of Columbia, and five US territories.

2. Humana

  • Humana holds an 18.0% share of the Medicare market. Between 2019 and 2020, Humana experienced growth of 12.6%. As at March 2020, Humana had 4,457,735 members.
  • All of the agents selling Humana products have the option of becoming MGA agents provided they have at least 10 contracted agents.
  • Humana´s Medicare products and the geographical location they are provided in are as follows:
  • Medicare Advantage: There are four Humana Medicare Advantage Plans. They are Humana HMO, Humana PPO, Human FFS, and Special Needs Plans.
  • Prescription Drug Plans: There are three Humana Medicare Prescription Drug plans. They are Humana Walmart Value Rx Plan, Humana Premier Rx Plan, and Humana Basic Rx Plan.
  • Medicare Supplement Plan: There are eight different supplement plans available (A, B, C, F2, G, K, L, N). The details of the different plans are available here.
  • Humana Medicare products are available in all 50 states.

3. CVS

  • The market share of the Medicare market held by CVS is 10.6%. Between 2019 and 2020, CVS experienced growth of 15.8%. As at March 2020, CVS had 2,612,689 members.
  • The CVS website refused access, so the only information available was that CVS offers Medicare Prescription Drug Plans. Access to all other parts of the website was refused. The use of a VPN did not rectify the situation.
  • The Motley Fool reported that Aetna was acquired by CVS in 2019. Aetna´s network are MGAs.

4. Kaiser Permanente

  • Kaiser Permanente commands a 6.8% market share of the Medicare market. Between 2019 and 2020, Kaiser Permanente experienced growth of 2.9%. As at March 2020, Kaiser had 1,681,235 members.
  • All Kaiser Permanente entity agencies have the opportunity to become MGA agencies, however not all of the MGA agencies of Kaiser Permanente offer Medicare.
  • Kaiser Permanente Medicare plans are available in the following areas: California, Colorado, Georgia, Hawaii, Maryland, Oregon, Virginia, Washington, and Washington DC.
  • Kaiser Permanente offers the following Medicare options:
    • Medicare Advantage;
    • Prescription Plans; and
    • Medicare Supplement Plans.
    • The individual plans that they provide in each category are not detailed on the website until a ZIP Code is entered. A list of plans available for that particular area is then provided.

5. Anthem

  • Anthem has a market share of the Medicare market of 5.4%. Between 2019 and 2020, Anthem experienced growth of 17.4%. As at March 2020, Anthem had 1,326,252 members.
  • The company offers Medicare products in the following markets: California, Connecticut, Colorado, Georgia, Indiana, Kentucky, Louisiana, Missouri, Maine, New Hampshire, New York, Ohio, Nevada, Virginia, and Wisconsin.
  • Anthem has a network of MGA agencies across its markets.
  • The Medicare products that Anthem offers in those markets are:

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