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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 | May 2016

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

IBISWorld’s Health & Medical Insurance market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Industry Statistics & Market Size
Revenue
$777bn
Annual Growth 11-16
4.0%
Annual Growth 16-21
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Profit
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Employment
527,380
Businesses
851
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 Key Buyers Chapter

Market share concentration within the Health and Medical Insurance industry is moderate, with the top four companies accounting for an estimated 47.7% of total industry revenue in 2016. The level of concentration within the industry has increased in recent years though, with the top four insurers accounting for only 36.4% of total industry revenue in 2011.

Reform pushes the big to get bigger

The healthcare reforms enacted in 2010 have been driving mergers and acquisitions, as insurers benefit from economies of scale and greater numbers of subscribers. IBISWorld expects the trend toward consolidation to accelerate through 2016, during which time insurers will be preparing for the full implementation of the Patient Protection and Affordable Care Act... 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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