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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 offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

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 Key Buyers Chapter

Market share concentration within the Health and Medical Insurance industry is moderate, with the top four companies accounting for an estimated 46.0% of total industry revenue in 2015. The level of concentration within the industry has increased sharply in recent years though, with the top four insurers accounting for 38.2% of total industry revenue in 2010.

Reform pushes the big to get bigger

The reforms enacted by the Obama administration in 2010 have been driving mergers and acquisitions, as insurers benefit from economies of scale and greater numbers of subscribers... 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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