Health & Medical Insurance in the US - Industry Market Research Report

Health & Medical Insurance in the US - Industry Market Research Report

  • April 2021 •
  • 48 pages •
  • Report ID: 199040 •
  • Format: PDF
Self care: Rebounding employment is forecast to increase the pool of insured people

Abstract

Health & Medical Insurance in the US
The Health and Medical Insurance industry, which is made up of carriers of private, group and public health, medical and dental insurance, was characterized by growth over the five years to 2019 as a result of consistent increases in healthcare expenditure and medical cost inflation, as well as a sharp decline in the uninsured rate. Industry revenue is correlated with total health expenditure, as operators increase premiums to maintain profitability. Despite revenue growth, medical cost increases and new legislation mandating minimum medical loss ratios have put pressure on industry profit. Over the five years to 2024, revenue is forecast to rise.

This industry underwrites (i.e. assumes the risks of and assigns premiums for) health and medical insurance policies. Insurance is the transfer of the risk of a loss in exchange for payment. Operators also provide administrative services for self-funded insurance plans. Under this structure, the industry operator is a third-party administrator and is not responsible for health benefit payments. This industry does not include direct government health insurance.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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