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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 | Jun 2015

Uncertain prognosis: New regulations will increase demand but challenge profit margins

IBISWorld’s Health & Medical Insurance market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Industry Statistics & Market Size
Revenue
$731bn
Annual Growth 10-15
2.9%
Annual Growth 15-20
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Profit
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Employment
471,321
Businesses
950
Industry Analysis & Industry Trends

The Health and Medical Insurance industry has been characterized by slow growth over the five years to 2015 as a result of reduced employer coverage and continued consumer deleveraging. However, consistent increases in healthcare expenditure and medical cost inflation have continued to drive industry growth. In the next five years, the industry will continue to benefit from rising health expenditure and an aging US population that demands increased insurance coverage. Health insurance reforms will further increase demand for health insurance through government subsidies and an individual mandate, but will also present challenges to industry profitability... 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 1.8% during the 10 years to 2020. In contrast, US GDP is projected to grow at an annualized rate of 2.5% 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... 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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