Mark Farrah Associates (MFA) recently released a comprehensive analysis of health insurance enrollment trends in the United States for the year 2023. The report provides insight into the growth and decline of various insurance segments by comparing membership numbers between the 4th quarter of 2023 and the 4th quarter of 2022.
As of December 31, 2023, approximately 318 million people in the United States received medical coverage from health insurers. However, this number represents a decrease of 2.1 million members from the previous year. Despite this decline, certain segments such as the Individual market and Medicare Advantage market experienced growth.
The Individual market gained around 3.5 million more members, showcasing a substantial increase in this segment. On the other hand, the Employer-group risk market experienced a decline in membership while the Employer-group ASO segment saw an increase of 1.6 million enrollees.
Mark Farrah Associates offers various products and tools for analyzing health insurance business, including Health Coverage Portal™, Medicare Business Online™, Medicare Benefits Analyzer™, County Health Coverage™, Health Plans USA™, and 5500 Employer Health Plus. These tools provide valuable insights into health plan enrollment trends and financial performance.
To learn more about these products and tools or to access the full text of “2023 Health Insurance Enrollment Trends; a Segment-by-Segment Comparison”, visit Mark Farrah Associates website today and check out their Analysis Briefs library. Stay updated on the latest insights about health plan enrollment trends and financial performance by reading their FREE MFA Briefs available on their website.
Mark Farrah Associates is one of leading research firms that helps insurers make informed decisions by providing data analytics and insights into healthcare industry trends.
In conclusion, although overall enrollment numbers decreased slightly in 2023 compared to the previous year, certain segments such as Individual market and Medicare Advantage experienced growth while Employer-group risk declined in memberships but Employer-group ASO increased it’s members by significant margin.