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Health & Medical Insurance in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Health & Medical Insurance Market Research Report | NAICS 52411b | Jan 2014

Taking care: An aging population and rising health expenditures will propel demand

IBISWorld’s Health & Medical Insurance market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Industry Statistics & Market Size
Revenue
$663bn
Annual Growth 09-14
0.7%
Annual Growth 14-19
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Profit
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Employment
452,557
Businesses
956
Industry Analysis & Industry Trends

The Health and Medical Insurance industry is expected to grow consistently over the next five years. The reforms expected to take full effect in 2014 will lead to more individuals qualifying for financial subsidies for insurance, thereby increasing demand for industry services. Key health expenditure items (e.g., hospital services and prescription drugs) will experience strong growth over the five years to 2019. The aging population will also stimulate demand for both government-funded and private health insurance, further benefiting the industry... purchase to read more

Industry Report - Industry SWOT Analysis Chapter

The Health and Medical Insurance Industry is in the mature stage of its economic life cycle; this stage is characterized by a slowdown in technological development and wholehearted market acceptance of the industry's products and services. Industry value added (IVA), which measures an industry's contribution to the overall economy, is expected to increase at an annualized rate of 0.9% during the 10 years to 2019. In contrast, US GDP is projected to grow at an annualized rate of 2.7% during the same period. These figures signify that the industry's share of the US economy is slowly declining; however, this decline largely reflects recessionary conditions and the impact of legislation on profit margins over the past five years... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Health & Medical Insurance Industry?

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 (whereby an employer provides health benefits to employees with its own funds). Under this structure, the industry operator is a third-party administrator and is not responsible for health benefit payments.

Industry Products
Pharmacy benefit management (PBM)Preferred provider organization (PPO) plansHigh-deductible health plans (HDHPs)Health maintenance organization (HMO) plansPoint-of-service (POS) plansFee-for-service (FFS) plansMedicaid (via private firms)Medicare (via private firms)
 
Industry Activities
Underwriting health and medical insurance policiesUnderwriting dental policies Providing pharmacy benefit management servicesManaging care between the health provider and individual recipient Third-party administration of self-funded insurance plansInvestment of health insurance premiums


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