MCMURRAY, Pa.--(BUSINESS WIRE)--Mark Farrah Associates (MFA), www.markfarrah.com, released a mid-year 2020 health insurance segment enrollment update. Based on membership data filed with statutory financial reports from the NAIC (National Association of Insurance Commissioners), the CA DMHC (California Department of Managed Health Care), and data from MFA’s ASO estimates, insurance companies provided medical coverage for 274 million people, as of June 30, 2020. This number is up from 268.2 million or approximately 5.8 million members, from a year ago.
Second quarter enrollment trends indicated membership gains for Individual, Medicare Advantage (MA), Managed Medicaid, and Employer-Group ASO (administrative services only for self-funded plans) business, while the Employer-Group risk segment experienced a year-over-year decline.
Over 15.3 million people are currently enrolled in Individual, Non-Group medical plans, representing a 2.8% increase between 2Q19 and 2Q20.
Managed Care Organizations (MCOs) now provide coverage for approximately 52.8 million beneficiaries, representing 6% growth, year-over-year. According to CMS reports, nearly 73.5 million people rely on Medicaid as their source of health insurance coverage.
Second quarter membership in Medicare Advantage (MA) plans increased to over 24.8 million, from 22.2 million in the prior year.
To read the FREE full text of "Mid-Year Trends in Health Insurance Enrollment and Segment Performance", 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.