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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 | Feb 2016

Picture of health: Sweeping federal reform and an aging population will drive industry demand

The Health & Medical Insurance market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Industry Statistics & Market Size
Revenue
$696bn
Annual Growth 11-16
2.9%
Annual Growth 16-21
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Profit
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Employment
528,550
Businesses
810
Industry Analysis & Industry Trends

The Health and Medical Insurance industry, which is made up of carriers of private, group and public health, medical, dental insurance, was characterized by slow growth five years ago as a result of reduced employer coverage and continued consumer deleveraging. However, consistent increases in healthcare expenditure and medical cost inflation, as well as a sharp decline in the uninsured rate, have driven industry growth in recent years. In the coming years, as the baby boomer generation ages, more people will need medical coverage and the retirement of baby boomers will particularly increase Medicare expenditure... 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 decrease at an annualized 1.0% during the 10 years to 2021. In contrast, US GDP is projected to grow at an annualized 2.3% during the same period. Industry IVA is decreasing mainly due to significant drops in profit margins caused by healthcare reforms.

While there has been a substantial amount of industry-specific technology change over the five years to 2016, this has largely made administrative tasks more efficient... 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 workers 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 Administering of self-funded insurance plansInvesting health insurance premiums


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