Industry Analysis & Industry Trends
A consistent increase in healthcare expenditures (i.e. medical cost inflation) has driven growth over the past five years; firms have had to consistently raise premiums and increase reserves to ensure healthcare liabilities are properly funded. However, revenue growth has been offset by a steady decline in the number of health and welfare funds. Despite proposed healthcare reforms, health expenditures are expected to continue being the main driver of industry revenue growth over the next five years... purchase to read more
Industry Report - Industry Products Chapter
The product breakdown is based on the premium earned for different types of coverage. The largest industry segment is health-related benefits, which comprises medical, prescription drugs and dental benefits. The dominance of health, along with the health breakdown, is consistent with the nation's broader spending patterns. Indeed, US businesses and consumers spend far more on private health insurance than on protection against life risks (e.g. death, disability and dismemberment), with health premiums accounting for about 90.0% of all private life and health insurance premiums, excluding annuities.
The Health and Welfare Funds industry generates even more from providing health coverage simply because more people purchase life coverage directly through an insurer... purchase to read more