Mark Farrah Associates Examines Emerging Individual Health Insurance Market

KENNEBUNK, Maine--(BUSINESS WIRE)--An estimated 17 million Americans purchased non-group health coverage directly from insurance companies in 2007. Mark Farrah Associates (MFA) takes a look at this emerging diversified product line for insurers in a free Healthcare Business Strategy brief, available at www.markfarrah.com. This individual market brief examines product offerings and the role insurers’ play in health coverage for people without access to group or government sponsored plans. Evaluation of data filed with the National Association of Insurance Commissioners and the California Department of Managed Health Care as of December 2007 is the basis of MFA’s analysis.

MFA found that 229 companies offer major medical coverage to over 9 million individuals. Health insurance offerings for individuals range from major medical to limited benefit to student and short term products. Of insurers offering individual plans WellPoint is the largest player, insuring approximately 21% of the market. Limited benefit plans, offered by 55 companies in states where limited plans are permitted, cover an additional 2 million individuals. Individual options for students are offered by just 12 companies, while 37 insurers offer short-term medical insurance to individuals. To read MFA’s full analysis of the individual health insurance market, please visit www.markfarrah.com/healthcarebs.asp.

MFA provides information on the Individual Market through the Health Coverage Portal™, a complete solution for health insurance market data. This robust online database provides access to detailed performance measures for more than 1,000 U.S. insurance carriers. Data can be analyzed by plan or parent organization, state, region and national levels and is easily downloadable for use in Excel or other spreadsheet software. Membership breakdowns are presented for private risk, self-insured, group, individual, Medicare Supplement, Medicare Advantage, Managed Medicaid and more. A full spectrum of financial reporting—such as company net worth, revenue, expenses, income, loss ratios, margins—is also available online. Historical data enables year-over-year and quarter-to-quarter performance comparisons.

Healthcare Business Strategy is a free monthly brief that presents analysis of important issues and developments affecting healthcare business today. For more information on Healthcare Business Strategy or Health Coverage Portal™ visit www.markfarrah.com or call 1-207-985-8484.

About Mark Farrah Associates (MFA)

Mark Farrah Associates (MFA) provides health plan market data and analysis tools. Our products include Medicare Business Online™, the Health Coverage Portal™, Health Insurer Insights™, and Health Plans USA™.