MCMURRAY, Pa.--(BUSINESS WIRE)--Mark Farrah Associates (MFA), www.markfarrah.com, reported enrollment in individual, non-group medical plans totaled 14.9 million as of March 2020, representing a 1.43% decline from the 15.2 million members in March 2019. According to the Centers for Medicare & Medicaid Services (CMS) reports combined with data from MFA’s Health Coverage Portal™, 76% of these members were enrolled through the exchanges at first quarter 2020 with the remaining 24% of this segment enrolled in off-exchange plans. In the latest brief, MFA provides insights into individual health insurance market trends with state-by-state membership comparisons.
- Centene, Guidewell Mutual Holding Group (the parent company of Blue Cross Blue Shield affiliates operating in Florida), Kaiser and Anthem all reported more than 1 million individual medical covered lives as of first quarter 2020.
- Based on statutory financial statements filed by health insurers, carriers collectively reported underwriting gains of almost $4.2 billion in the individual segment in 2019; a significant decline from the $7.9 billion reported in 2018.
- As of first quarter 2020, plans have shown signs of decreased profitability. Growth in premiums PMPM for 1Q20 matched that of the growth in 1Q19. The aggregate medical expense ratio stands at 73.8%, up from 72.1% in 1Q19.
To read the full text of "Individual Health Insurance Enrollment Trends and Market Insights", visit the Analysis Briefs library on Mark Farrah Associates' website.
About Mark Farrah Associates (MFA)
Mark Farrah Associates (MFA) is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. Our product portfolio includes Health Coverage Portal™, County Health Coverage™, 5500 Employer Health Plus, Medicare Business Online™, Medicare Benefits Analyzer™, and Health Plans USA™. For more information about these products, refer to the informational videos and brochures available under the Our Products section of the website or call 724-338-4100. MFA will continue to monitor enrollment changes and competitive shifts across all healthcare segments.