MCMURRAY, Pa.--(BUSINESS WIRE)--Mark Farrah Associates (MFA), www.markfarrah.com, released a second quarter health insurance segment enrollment update. MFA compared membership between 2nd quarter 2022 with 2nd quarter 2023 to provide greater insight into enrollment trends for the Individual, Group, ASO, Medicare Advantage, and Medicaid insurance segments. As of June 30, 2023, approximately 325 million people received medical coverage from U.S. health insurers. This number is up from 315 million, or approximately 9.6 million additional members, from the second quarter a year ago.
- Between 2Q22 and 2Q23, membership for the Individual market gained over 1.7 million more members, year-over-year.
- In addition, the Medicare Advantage and Medicaid markets also experienced year-over-year membership increases of 7.3% and 5.3%, respectively.
- The Employer-group risk and Employer-group ASO (administrative services only for self-funded plans) segments provide the largest sources of coverage in the industry, however, while Employer-group ASO saw a significant 2 million increase of enrollees, the Employer-group risk market experienced year-over-year membership declines.
To read the full text of "Continued Membership Increases for Second Quarter Health Insurance Business", visit the Analysis Briefs library on Mark Farrah Associates' website.
About Mark Farrah Associates (MFA)
MFA is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. Committed to simplifying analysis of health insurance business, our products include: Health Coverage Portal™, Medicare Business Online™, Medicare Benefits Analyzer™, County Health Coverage™, Health Plans USA™ and 5500 Employer Health Plus. Follow us on LinkedIn!
Also, for the latest insights about health plan enrollment trends and financial performance, visit the FREE MFA Briefs on the MFA website.