Business Wire July 29, 2024
MCMURRAY, Pa.–(BUSINESS WIRE)–In its latest Business Strategy brief, Mark Farrah Associates (MFA) assessed short-and long-term individual health insurance enrollment trends. According to financial statements filed by insurers, and with estimates by MFA, enrollment in individual medical plans, both on and off the exchange, totaled approximately 24.3 million as of March 31, 2024, the highest it has ever been. This is an increase of 4.9 million members, or 25%, from 1Q23.
“U.S. Individual Health Insurance Market Moves to New Heights”
The individual segment has been profitable, overall, for health plans since 2017. However, since 2021, premium growth has, once again, been outpaced by medical expense growth, leading to increasing medical loss ratios (MLRs) and carriers exiting the...
Today's Sponsors
Today's Sponsor