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 Products Chapter
The majority of industry revenue is generated from premiums that are related to fully funded insurance policies. Under this traditional coverage, the health insurer is financially responsible for paying all the incurred coverage benefits and administration costs of healthcare benefits. In return, the company receives a premium. Health insurers also generate income by providing network-based health and well-being services to beneficiaries in government-sponsored healthcare programs such as Medicare and Medicaid.
In addition to healthcare premiums, insurers also generate revenue from fees and product sales. For example, industry participants generate a significant amount of fee revenue for managing care for self-funded insurance plans... purchase to read more